Introduction:
To maintain any kind of successful business, the accounting system is crucial. All businesses require an accurate, streamlined accounting system to provide them with the up-to-date financial information that drives all their daily decisions.
An accounting system is a set of structured accounting devices, procedures and controls made operational with a combination of manual and computerized methods. These systems are designed to gather, record, classify and analyze timely financial data, which can then be translated into well-informed decisions.
Objectives:
After this 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.
Course Outline:
Day 1
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 a appropriate reporting
arranging for Human Resources versus Software – HRVSS
Day 2
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 Centres.
Prepaid and Accrual Concepts.
Day 3
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 sale and Inventory.
Records on Payables Due.
Payment Orders Processing.
Day 4
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.
Day 5
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.
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