Effective Finance and Accounting operations - Best Practices for Accountants

  • Start Date

    10 Aug, 2021

  • End Date

    13 Aug, 2021

  • Price

    ₦185,000

  • WiFi

    Free wifi

Event Details

By the end of the course, participants will be able to:

  • Identify the main elements of a vision for finance and accounting
  • Evaluate and improve accounts payable process
  • List the key best practices in receivables, inventory and cash management
  • Assess the budgeting process in their organizations and recommend improvements
  • Apply MS Excel reporting and analysis techniques for a faster accounting and finance operations
  • Develop an enhanced understanding of the behavioral concepts related to the day-to-day finance and accounting operations

 

CONTENT

  • The importance of best practices
    • Effectiveness versus efficiency
    • Functions of management
    • Finance and accounting vision and mission
    • Customer service survey
    • Purposes and processes of finance and accounting
  • The accounting cycle and financial statements
    • The accounting processing cycle
    • Overview of key financial statements
      • Income Statement
      • Balance sheet
      • Cash flow
  • Applying best practices in Accounts Payable (AP)
    • Accounts payable life-cycle
    • AP common ine?ciencies - areas for improvement
    • Centralized versus decentralized AP
    • AP/supplier portal
    • Electronic expense reporting
    • Online purchasing catalogue
    • Document management system
  • Applying best practices in Accounts Receivable (AR), inventory and Cash
    • AR Life cycle
      • Accounting for the allowance for doubtful accounts
      • Four dimensions in managing AR
        • Credit policy
        • Billing
        • Collection
        • AR segmentation
    • Inventory life-cycle
      • Costing methods
      • Valuation and presentation of inventory
      • Best practices in inventory management
    • Best practices in cash management
  • Best practices in fixed assets and budgeting
    • Fixed assets life-cycle
    • Capitalizing versus expensing
    • Tracking fixed assets
    • Budgeting approaches
    • Tips in creating efficiencies in budgeting process
  • Reporting best practices using MS Excel
    • Consolidating your data
    • Validating data for accuracy
    • Using pivot tables
      • Preparing periodic reports in no time
      • Performing efficient and accurate reconciliation
      • Bank statement reconciliation
      • Payroll reporting and analysis
      • Accounts payable reporting and analysis
      • General ledger reporting, reconciliation and analysis
      • Budgeting reporting and analysis
      • Invoice analysis and reporting
      • Creating flash management reports
    • Enhancing policies and procedures manuals
  • Essential behavioral concepts for enhancing Finance and Accounting (F&A) operations
    • The new set of skills for F&A
    • Clean desk policy
    • Peak performance time
    • Successful meetings
    • Communication skills
    • Reviewing and authorization matrix
    • Cross training and back up strategies

 

FOR WHOM: Accountants, Auditors, Finance Officers and others who perform related functions.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

 

Date:

1ST BATCH:       9th – 12th February, 2021              

2ND BATCH:      10th – 13th August, 2021 

Other Dates

Start Date End Date
09 Feb, 2021 12 Feb, 2021
Start Date End Date
10 Aug, 2021 13 Aug, 2021
  • Venue

    Alpha Partners Professional Training Conference Centre. 200, Muritala Mohammed Way (3rd Floor), Yaba Lagos.

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