Advanced Efficient Finance and Accounting Operations
Introduction
Stop what you are doing, take a step back, and look at how you perform your work. You will probably agree that things are currently effective, but could be more efficient. This course will provide you with the tools and techniques necessary to enhance all the building blocks of accounting and finance. From accounts payable and cash management to budgeting and financial statements, we will show you best practices in tools and techniques that will make your job easier and help you deliver more value. The course will also cover behavioral concepts related to the day-to-day accounting and finance operations.
Objectives
Participants attending the training seminar will:
Ü Demonstrate how they can enhance the operations of the finance and accounting departments.
Ü Apply internationally implemented best practices in the following areas: accounts payable, billing, budgeting, cash management and treasury, costing, filing, financial statements, general ledger, inventory and policies and procedures.
Ü Leverage their accounting cycle skills.
Ü Use new tools to make their job efficient and smart.
Ü Apply their knowledge through hands-on workshops and group presentations
Who Should Attend?
Ü Professionals in the field of finance and accounting, managers, supervisors, and finance professionals who desire to understand, apply and implement practical tools to enable them to run the finance and accounting departments more efficiently.
Course Methodology
The course uses self-assessments and a wide mix of business cases that promote healthy discussions around the importance of managing multiple tasks, deadlines and priorities. Participants will benefit from role plays covering workplace challenges related to handling tasks, deadlines and priorities. They will learn how to deal with conflicts that may arise as a result. Interactive team exercises are also used with each team presenting their findings and comments.
This interactive training course includes the following training methodologies as a percentage of the total tuition hours:
- 30% Lectures, Concepts, Role Play
- 30% Workshops & Work Presentations, Techniques
- 20% Based on Case Studies & Practical Exercises
- 20% Videos, Software & General Discussions
Pre and Post Test
Outline
DAY 1:
The Importance of Best Practices (BP)
Ü Effective versus Efficient Tools
Ü Functions of Management
Ü Finance and Accounting Vision and Mission
Ü Customer Service Survey
Ü Purposes and Processes of Finance and Accounting (F&A)
Ü Accounting Cycle and Financial Statements Cycle
DAY 2 :
Accounts Payable (AP) Best Practices
Ü The Life Cycle of Accounts Payable
Ü Improving AP through Decentralization and Centralization
Ü Enhancing AP Processing Using Vendor Analysis and Reconciliation
Ü Electronic Expense Reporting
Ü On-Line Purchasing Catalogue
Ü Document Management System
DAY 3 :
Billing, Collection, Inventory Cash Management, and Budgeting Best Practices
Ü Accounts Receivable Life Cycle and Tools
Ü Inventory Life Cycle and Tools
Ü Improving Cash Management, Lockbox Collections, and Zero-Balance Accounts
Ü Modern Budgeting Techniques Mindset
Ü Fixed Assets Best Practices
Ü Fixed Assets Life Cycle and Tools
Ü Bar Coding Systems
Ü Capitalizing versus Expensing of Fixed Asset
DAY 4 :
Reporting Best Practices Using Excel
Ü Improving Timeliness and Accuracy of Business and Accounting Data
Ü Enhancing Report Development and Analysis
Ü Consolidating your Data
Ü Validating Data for Accuracy
Ü Using Pivot Tables
Ü Preparing Periodic Reports in No Time
Ü Performing Efficient and Accurate Reconciliation
Ü Bank Statement Reconciliation
Ü Payroll Reporting and Analysis
Ü Accounts-Payable Reporting and Analysis
Ü General Ledger Reporting, Reconciliation and Analysis
Ü Budgeting Reporting and Analysis
Ü Invoice Analysis and Reporting
Ü Creating Flash Management Reports
Ü XBRL, and Dashboards
Ü Enhancing Policies and Procedures Manuals
DAY 5 :
Essential Behavioral Concepts for Enhancing Finance and Accounting Operations
Ü The New Set of Skills for F&A
Ü Clean Desk Policy
Ü Hiring the Best, Cross-Training, Back-Up Strategies, and Teamwork
Ü Staff Responsibility Charts
Ü Successful Meetings
Fees:
The Fee for the seminar, including instruction materials, documentation, lunch, coffee/tea breaks & snack is:
4.250USD$
Schedule:
08:30 – 10:15 First Session
10:15 – 10:30 Coffee Break
10:30 – 12:15 Second Session
12:15 – 12:30 Coffee Break
12:30 – 14:00 Third Session