Accounting Policies And Procedures

Accounting Policies and Procedures course is offered by BMC Training and Development. BMC Training and Development has earned the reputation as a trusted partner in professional development and management education that improves immediate performance as well as provides long-term results for individuals and organizations.

Objectives:

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

• Design and produce the Accounting and Finance Manual.
• Plan the required resources needed for the department.
• Establish authorities and duties in the department for maximizing efficiency and effectiveness.
• Achieve segregation of duties and internal controls in the department.
• Set comprehensive policies and procedures to streamline accounting operations.
• Acquire a reference explaining essential accounting assumptions and their application.
• Answer the questions: “who does what?” and “how to do it?” by formulating standard and reliable accounting processes.

The Content:

• Designing the Accounting Manual
  • Purpose of the Accounting Manual
  • Authorities Assigned to Accounting Personnel
  • Organization of the Accounting Manual
• Accounting Department Setup Planning
  • Planning for Proper Reporting
  • Planning for Human Resources versus Software – HRVSS
• Accounting Concepts and their Application
  • Underlying Accounting Assumptions
  • Accrual Basis of Accounting versus Cash Basis
  • Going Concern Assumption
  • System and Reliability of Measurement
  • General Concepts of Assets, Liabilities, Income and Expense
• Accounting Procedures General
  • Setting Chart of Accounts
  • Accounting Structure
  • Exchange Rate Differences
  • Accounts and Cost Centers
  • Prepaid and Accrual Concepts and Treatments
• Fixed Assets and Capitalization of Costs
  • Treatment and Recording of Fixed Assets
  • Depreciation of Fixed Assets
  • Disposal of Fixed Assets
  • Reports on Fixed Assets
• Accounts Payables Policies
  • Approving Suppliers for Purchases
  • Receiving Invoices and Inventory
  • Reports on Payables Due
  • Payment Orders Processing
• Production and Inventory Processing
  • Recording of Production Costs
  • Interdepartmental Transfers of Material
  • Issuing Finished Goods
• Accounts Receivables Policies
  • Approving Clients
  • Bank or Other Guarantees
  • Recording Invoices
  • Collection and Recording of Receipts
• Other Accounting Policies
  • Debit and Credit Notes
  • Payroll Recording and Reporting
• Reporting
  • Essential Budgeting Policies
  • Financial Statements Issuance Steps
  • Financial Analysis and Comparisons to Budgets