Effective Finance and Accounting operations for Accountants

OBJECTIVE
By the end of the course, participants will be able to:
• Identify the main elements of a vision for finance and accounting
• Evaluate and improve accounts payable process
• List the key best practices in receivables, inventory and cash management
• Assess the budgeting process in their organizations and recommend improvements
• Apply MS Excel reporting and analysis techniques for a faster accounting and finance operations
• Develop an enhanced understanding of the behavioral concepts related to the day-to-day finance and accounting operations

CONTENT
• The importance of best practices
o Effectiveness versus efficiency
o Functions of management
o Finance and accounting vision and mission
o Customer service survey
o Purposes and processes of finance and accounting
• The accounting cycle and financial statements
o The accounting processing cycle
o Overview of key financial statements
 Income Statement
 Balance sheet
 Cash flow
• Applying best practices in Accounts Payable (AP)
o Accounts payable life-cycle
o AP common inefficiencies – areas for improvement
o Centralized versus decentralized AP
o AP/supplier portal
o Electronic expense reporting
o Online purchasing catalogue
o Document management system
• Applying best practices in Accounts Receivable (AR), inventory and Cash
o AR Life cycle
 Accounting for the allowance for doubtful accounts
 Four dimensions in managing AR
 Credit policy
 Billing
 Collection
 AR segmentation
o Inventory life-cycle
 Costing methods
 Valuation and presentation of inventory
 Best practices in inventory management
o Best practices in cash management
• Best practices in fixed assets and budgeting
o Fixed assets life-cycle
o Capitalizing versus expensing
o Tracking fixed assets
o Budgeting approaches
o Tips in creating efficiencies in budgeting process
• Reporting best practices using MS Excel
o Consolidating your data
o Validating data for accuracy
o Using pivot tables
 Preparing periodic reports in no time
 Performing efficient and accurate reconciliation
 Bank statement reconciliation
 Payroll reporting and analysis
 Accounts payable reporting and analysis
 General ledger reporting, reconciliation and analysis
 Budgeting reporting and analysis
 Invoice analysis and reporting
 Creating flash management reports
o Enhancing policies and procedures manuals
• Essential behavioral concepts for enhancing Finance and Accounting (F&A) operations
o The new set of skills for F&A
o Clean desk policy
o Peak performance time
o Successful meetings
o Communication skills
o Reviewing and authorization matrix
o Cross training and back up strategies

FOR WHOM: Accountants, Auditors, Finance Officers and others who perform related functions.

Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.
DATE:
1ST BATCH: 2nd – 4th Apr, 2025
2ND BATCH: 14th – 17th Oct, 2025