Accounting Policies and Procedures

Monday 13 July 2020

  • Duration: One Week
  • City: Dubai
  • Fees: 3900 GBP

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.

Registration Request

  • https://www.lpcentre.com/courses/accounting-policies-and-procedures-14/
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