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 the 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 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).
By the end of the course, participants 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
Professionals in accounting and finance.