What you will learn
By the end of the program, participants will be able to answer the following questions:
- What are major accounting frameworks?
- Understand why accounting policies and processes are needed?
- Understand why different policies are required for different businesses?
- What is a delegation of authorities, and why are they essential?
- What are internal controls, and why is the segregation of duties necessary?
- How do you design and implement the finance operating manual?
- How do we identify business needs and design departmental structure?
- How to design an accounting reporting system?
- Other areas we will touch on during the training are creditors, debtors and types of financial reporting.
Course details
Accounting frameworks, policies and manuals
- Accounting frameworks
- Accounting policies and processes
- Purpose of the accounting manual
- Business needs analysis and resource planning
- Accounting manual
- Operating manual
Accounting concepts and their application
- Underlying accounting assumptions
- Accrual versus Cash basis of accounting
- Going concern
- System and Reliability of measurement
- General concepts of assets, liabilities, income and expense
Accounting procedures general
- Chart of Accounts
- Accounting Structure
- Revenue & Cost Centres
- Payroll
Fixed assets and capitalisation
- Tangible versus Intangible
- Accounting policies
- Estimation techniques
- Revaluations
- Disposals
- Reporting
Accounts payable and inventory
- Supplier assessment and setup
- Goods inwards process
- Credit setup and payments
- Postings
- Recording
- Contras
- Inventory counts
- Inventory valuation and provisioning
Accounts receivable
- Customer acceptance and Know Your Customer (“KYC”)
- Registration and Terms
- Invoicing
- Debtors reporting
- Collections
- Provisions and write-offs
- Debit and Credit notes
Reporting
- Budgets
- Forecasts
- Management accounts
- Statutory accounts
