Accounting & Finance Policies

Accounting and Finance policies and procedures are the most efficient way to implement company-wide effective internal control tools in any organization. They are part of every business cycle: purchase and payment cycle, inventory and production, HR and payroll, fixed assets and capitalization of costs, and sales and collection cycle. On top of that, accounting and finance policies and procedures are essential for the board of directors and senior management to communicate limitations and authorities given to different managers and employees throughout the organization. Moreover, their use is also extended to organize financial reporting and compliance with regulators outside the organization.
In this course participants will be encouraged to think of risk-based processes, a suitable control to write and implement operational policies and procedures. They will learn to allocate tasks to different personnel based on proper segregation of duties and to use software to implement the controls efficiently. Also, the course covers sample financial statements prepared according to the International Financial Reporting System (IFRS).

Awarding Body

London Institute of
Business & Technology

Duration

5 Days
25 Hours

Start Date

All Year Around

Study Mode

Classroom OR
Distance Learning

By the end of this programme, the participant will be able to:

  • Design and produce a model accounting and finance manual
  • Plan the required resources needed for the department
  • Apply accounting concepts and International Financial Reporting Standards
  • Set the chart of accounts in details to suit the business model
  • Create comprehensive policies and procedures to streamline accounting for fixed assets
  • Develop policies and processes for current assets and current liabilities
  • Formulate reporting requirements as per International Financial Reporting Standards
  • Designing Accounting and Finance Manual
    • Manual Purpose and Organization
    • Financial Authorities and Responsibilities
    • Process Mapping Chart: Basic Icons
  • Accounting Department Setup
    • Planning for proper reporting
    • Planning for Human Resources Versus Software – HRVSS
  • Accounting Concepts and their Application
    • Underlying Accounting Assumptions
    • Accrual Basis versus Cash Basis
    • Going Concern assumption
    • System and reliability of Measurement
    • Concepts of Assets, Liabilities, Income & Expense
  • Chart of Accounts
    • Setting-up a Chart of Accounts
    • Accounts and Cost Centers
    • System Structure
    • Exchange Rate Differences
    • Prepaid and Accrual Concepts and Treatments
  • Long Term Assets
    • Assets capitalization costs
    • Depreciation, amortization and depletion
    • Impairment of assets
    • Disposal of assets
  • Liabilities
    • Approving suppliers for purchases
    • Receiving invoices and inventory
    • Accruals
    • Dividends payable
    • Payment orders processing
  • Production and Inventory processing
    • Recording of Production Costs
    • Inter-department transfers of material
    • Issuing Finished Goods
  • Accounts Receivables Policies
    • Approving Clients
    • Bank or other guarantees
    • Recording Invoices
    • Collections
    • Allowance for Doubtful Debts
  • Other Accounting Policies
    • Debit and Credit Notes
    • Payroll recording and reporting
  • Reporting
    • Essential Budgeting Policies
    • Financial Statements Process
    • Financial Analysis

Professionals in accounting and finance.

5-day training programme – 1,790 USD

How many students are there in a classroom?

It depends on how many would enroll per intake. Even if the number of students are just 1, we still continue with the training as planned. The maximum number of students we will have in a classroom is 10.

Can I request a date that is convenient for me?

Absolutely! We will arrange the training that is convenient for you. The training date is completely customizable.

Can I change the course content?

Yes, if the contents of the course needs to be changed, please let us know. We will communicate with you and get a course outline that works for you finalized.

Does it matter which industry I work at?

It really doesn’t. We take cases and discuss them to cover your industry. If you need the course to be customized and tailored to your industry, we can also do that. You’d have to let us know in advance by filling out the form below.

(The fees include coffee breaks, study materials and working lunches daily)

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