Introduction:

This program will enhance your ability to understand financial reports, better communicate with financial officers in your organization, evaluate your unit's financial performance and make sound financial decisions. This course provides a working knowledge of the principles and practices of the financial management of companies and the financial analysis of leveraged buyouts. It ensures that you acquire a sufficiently thorough understanding of the subject in order to be able to use the tools and techniques in an effective manner.

The purpose of this course is to help those involved in finance, accounting interpret data from financial reports, including balance sheets, income statements, budgets, and divisional performance reports and make better business decisions based upon this information. The candidates will be better able to communicate the financial goals and performances of their departments to outside sources. They will improve their understanding and be able to use financial language to communicate with others, including financial managers in their organizations. 

Course Objectives:

By the end of this course, delegates will learn about:

• Demonstrate how they can enhance the operations of the finance and accounting departments
• Acquire internationally implemented best practices in the following areas: accounts payable, billing, budgeting, cash management and treasury, costing, filing, financial statements, general ledger, inventory, payroll, and policies and procedures
• Leverage their accounting cycle skills
• Use new tools to make their job efficient and smart
• Apply their knowledge through hands-on workshops and group presentations

Who Should Attend?

Professionals in the field of finance and accounting, managers, supervisors, accountants and finance professionals who need to understand, apply and implement practical tools to enable them to run the finance and accounting departments more efficiently. 

Course Outline:

The Importance of Best Practices (BP)

·         Effective versus Efficient Tools

·         Functions of Management

·         Finance and Accounting Vision and Mission

·         Customer Service Survey

·         Purposes and Processes of Finance and Accounting (F&A)

·         Accounting Cycle and Financial Statements Cycle

Accounts Payable (AP) Best Practices

·         The Life Cycle of Accounts Payable

·         Improving AP through Decentralization and Centralization

·         Enhancing AP Processing Using Vendor Analysis and Reconciliation

·         Electronic Expense Reporting

·         On-line Purchasing Catalogue

·         Document Management System

Billing, Collection, Inventory and Cash Management Best Practices

·         Accounts Receivable Life Cycle and Tools

·         Inventory Life Cycle and Tools

·         Improving Cash Management, Lockbox Collections, and Zero-Balance Accounts

·         Modern Budgeting Techniques Mindset

Fixed Assets Best Practices

·         Fixed Assets Life Cycle and Tools

·         Bar Coding Systems

·         Capitalizing versus Expensing of Fixed Assets

Monthly Reporting Best Practices Using Excel

·         Improving the Timeliness and Accuracy of Business and Accounting Data

·         Enhancing Report Development and Analysis

·         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

·         XBRL, F9, and Dashboards

·         Enhancing Policies and Procedures Manuals

Essential Behavioral Concepts for Enhancing the Finance and Accounting Operations

·         The New Set of Skills for F&A

·         Clean Desk Policy

·         Hiring the Best, Cross-Training, Back-Up Strategies, and Teamwork

·         Staff Responsibility Charts

·         Successful Meetings

·         Review/Authorization Procedures

·         Peak Performance Time

COURSE LOCATIONS