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 process are needed?
- Understand why different policies are required for different businesses?
- What are delegation of authorities and why are the essential?
- What are internal controls and why segregation of duties is important?
- How to design and implement the finance operating manual?
- How to identify business needs and design departmental structure?
- How to design accounting reporting system?
- Other areas we will touch on during the training are creditors, debtors and types of financial reporting
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
Fixed assets and capitalisation
- Tangible verses Intangible
- Accounting policies
- Estimation techniques
Accounts payable and inventory
- Supplier assessment and setup
- Goods inwards process
- Credit setup and payments
- Inventory counts
- Inventory valuation and provisioning
- Customer acceptance and Know Your Customer (“KYC”)
- Registration and Terms
- Debtors reporting
- Provisions and write-offs
- Debit and Credit notes
- Management accounts
- Statutory accounts