Accounting Policies and Procedures Course

Course Overview:

The aim of the Accounting Policies and Procedures Course is to equip accounting and finance specialists with the very practical skills necessary for defining and managing an accounting system.

The audience will be able to construct an Accounting Manual, practice a useful form of duty segregation, and define authorities and obligations within the department. 

The course encompasses issues like fixed assets, account receivable/payable policies, and production processes/inventories. It also examines basic accounting terminology and practices, such as accrual vs. cash basis accounting and budgeting procedures. 

Upon completion of this course, students will be ready to optimize accounting functions and maintain adherence to the policies set.

Course Objectives:

At the end of this Accounting Policies and Procedures Course, learners will be able to do:

• Create and build the Accounting and Finance Manual.
• Plan the requested essential resources for the Department.
• Build Authorities and obligations in the Department for expanding productivity and viability
• Perform segregation of obligations and inward controls in the Department.
• Put complete policies and techniques to streamline accounting activities
• Obtain a reference clarifying basic accounting assumptions and their application
• Answer the inquiries: “Who does what?” and “How to do it?” by detailing standard and dependable accounting processes.

Who Should Attend?

This Accounting Policies and Procedures Course is ideal for: 

• Professionals in accounting and finance

Course Outlines:

Designing the Accounting Manual

• Purpose of designing and developing Accounting Manual.
• Establish authorities and duties pointed to Accounting Personnel.
• Organization of the Accounting Manual.

Accounting Department Setup Planning

• Arranging an appropriate reporting
• arranging for Human Resources versus Software – HRVSS

Accounting Concepts and Their Application

• Implied accounting presumptions.
• Accrual Basis of Accounting versus Cash Basis.
• Going Concern Assumption.
• framework and Reliability of Measurement.
• Common concepts of Resources, Revenue, and Expenses.

Accounting Procedures General

• Setting Chart of Accounts.
• Accounting Structure.
• Exchange Rate Variations.
• Accounts and expense Centers.
• Prepaid and Accrual Concepts.

Fixed Assets and Capitalization of Costs

• Treatment and reporting of Fixed Assets.
• Devaluation of Fixed Assets.
• Disposal of Fixed Assets.
• Reports of Fixed Assets.

Accounts Payables Policies

• Accepting provider for Purchases.
• Getting invoices of sales and Inventory.
• Records on Payables Due.
• Payment Orders Processing.

Production and Inventory Processing

• Registration of Production Costs.
• Interdepartmental Transfers of Material.
• Issuing completed Goods.

Accounts Receivables Policies

• Approving Clients.
• Bank or Other Guarantees.
• Recording Invoices.
• Collection and Recording of Receipts. 

Other Accounting Policies

• Debit and Credit Notes
• Payroll Recording and Reporting
• Reporting
• Fundamental Budgeting procedures.
• Financial Statements Issuance proceedings.
• Financial Analysis and Contrasts to Budgets.

see more: Accounting, Financial Communication and Decision Making Course