Introduction
Effective accounting and finance principles, along with well-structured policies and procedures, are vital to ensuring strong internal controls across any organization. These tools are not only essential for the purchase and payment cycles, inventory and production, and HR and payroll, but also play a critical role in sales and collection cycles. Moreover, they provide a structured approach for financial reporting and ensure compliance with regulatory bodies.
This professional accounting training is ideal for those looking to advance their skills in accounting and finance, particularly for those pursuing a Master of Professional Accounting or a Master's in Accounting and Finance. The course will guide participants through creating a comprehensive accounting manual, planning for effective resource management, applying International Financial Reporting Standards (IFRS), and streamlining policies and procedures for fixed assets and other key business operations.
Whether you're aiming for a professional certificate in accounting or you're considering enrolling in the best accounting master's programs, this course will give you the knowledge and skills needed to excel in advanced accounting functions, while strengthening your overall understanding of financial management and reporting.
Course Objectives
The accounting master's program is designed with the following learning outcomes in mind:
- Design and produce a model accounting manual to guide organizational accounting processes and policies.
- Plan and allocate the necessary resources to effectively manage the accounting department.
- Apply accounting concepts and International Financial Reporting Standards (IFRS) in real-world scenarios to improve financial decision-making.
- Set up a detailed chart of accounts tailored to the specific business model, enhancing financial reporting accuracy.
- Create policies and procedures to streamline the management of fixed assets, ensuring proper capitalization and depreciation.
- Develop and implement policies for managing current assets and liabilities, ensuring compliance with accounting standards.
- Formulate reporting requirements in alignment with International Financial Reporting Standards to enhance organizational transparency and compliance.
Course Outlines
Day 1: Designing the Accounting Manual
- Purpose and structure of the accounting manual.
- Defining financial authorities and responsibilities across the organization.
- Process mapping chart: Understanding basic icons for effective process mapping.
- Accounting department setup: Planning for efficient reporting systems.
- Human Resources vs. Software: Evaluating the HRVSS (Human Resources Versus Software System).
Day 2: Accounting Concepts and Their Application
- Understanding underlying accounting assumptions.
- Differences between accrual basis vs. cash basis accounting.
- The system reliability of measurement in accounting.
- Key concepts of assets, liabilities, income, and expense.
- Setting up the chart of accounts: Accounts, cost centers, and system structures.
- Exchange rate differences: Accounting for currency fluctuations.
- Prepaid and accrual concepts: Treatment and reporting of these items.
Day 3: Long-Term Assets and Liabilities
- Capitalization costs of long-term assets.
- Depreciation, amortization, and depletion techniques.
- Managing impairment of assets and asset disposals.
- Approving suppliers for purchases and managing accounts payable.
- Receiving invoices, inventory management, and accruals.
- Managing dividends payable and processing payment orders.
Day 4: Accounts Receivables Policies and Other Accounting Policies
- Client approval processes: Establishing robust client policies.
- Managing bank or other guarantees for accounts receivables.
- Recording invoices: Procedures and best practices for accuracy.
- Collections: Best practices for managing accounts receivables and debt recovery.
- Setting up allowances for doubtful debts and how to record them.
- Payroll recording and reporting: Effective practices for payroll management.
Day 5: Reporting and Financial Analysis
- Setting essential budgeting policies for better financial planning.
- Understanding the financial statement process: Preparation and analysis.
- Conducting financial analysis to interpret key business data and performance metrics.
Why Attend This Course? Wins & Losses!
Attending this course provides numerous professional benefits, whether you're looking to enhance your knowledge in accounting professional training or preparing for more advanced studies in accounting and finance. Here’s why you should consider enrolling:
- Master the essentials of professional accounting: Gain in-depth knowledge of accounting principles, policies, and procedures that will set you apart in the field.
- Create a comprehensive accounting manual: Learn how to design and implement a well-structured accounting manual that enhances internal controls and operational efficiency.
- Advance your career in accounting: Whether you're interested in obtaining a professional certificate in accounting or pursuing a Master of Professional Accounting, this course will strengthen your credentials.
- Streamline accounting processes: Learn how to develop streamlined policies and procedures for managing fixed assets, current assets, and liabilities, ensuring efficient operations.
- Improve financial reporting and compliance: Understand how to set up comprehensive reporting systems that align with International Financial Reporting Standards (IFRS) and promote transparency within your organization.
- Practical knowledge for real-world applications: This course will help you understand key financial processes such as budgeting, financial analysis, and accounting for liabilities and assets, which are critical to successful financial management in any organization.
By the end of this course, you'll have the practical tools and strategies to apply your learning in real-world scenarios, setting you up for success in roles that require professional accounting services and knowledge.
Conclusion
This accounting and finance course provides critical insights for those looking to advance their understanding of accounting principles and financial management. Whether you're pursuing a Master's in Accounting and Finance, aiming for a professional accounting degree, or simply enhancing your skills through accounting professional training, this course equips you with the knowledge to succeed.
Enrolling in this program will help you create effective accounting manuals, set up detailed charts of accounts, and implement accounting policies and procedures that align with global standards. Upon completion, you’ll be well-prepared to lead accounting functions, drive organizational efficiency, and ensure financial compliance.
Don’t miss the opportunity to build a stronger accounting foundation—enroll now and take the next step in your accounting career with confidence. Join our accounting training today and unlock new opportunities for professional growth!
