Monday 12 Apr 2021

• Duration: One Week
• City: Madrid
• Fees: Classroom: 4200 GBP / Online: 1900 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.