Course Methodology

This course uses explanations by a subject matter expert on how to write policies and procedures and what to include in them. Participants will be asked to write policies and procedures in different business cycles leading to financial reporting as per IFRS.

Course Objectives

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

• Design and produce the Accounting Manual.
• Apply accounting concepts properly.
• Allocate costs to assets or expenses.
• Record liabilities and equity accounts.
• Assist in preparing financial reports.

Target Audience

Professionals in accounting and finance.

Target Competencies

• Designing policies and procedures
• Understanding business cycles
• Applying financial policies
• Preparing accounting procedures
• Segregating employee tasks
• Implementing internal controls
• Complying with International Financial Reporting Standards (IFRS)

Course Overview

Designing Accounting and Finance Manual

• Accounting Manual purpose
• Financial Authorities and Responsibilities
• Accounting Manual Organization
• Process Mapping Chart Icons
• Planning for financial reporting

• Chart of Accounts

Accounting Principles Application

• Accounting Principles
• Underlying Accounting Assumptions
• System and reliability of measurement
• Concept of Assets
• Concepts of Liabilities
• Concepts of Income
• Concepts of Expense

Assets

• Cash and Equivalents
• Accounts Receivable and Collections
• Production and Inventory Processing
• Long Term Assets
• Capitalization and utilization
• Impairment of assets
• Disposal of assets

Liabilities and Equity

• Accounts Payable
• Accruals
• Payroll
• Long Term debt
• Equity Accounts

Reporting

• Accounting adjustments
• Credit and debit notes
• Budgeting
• Financial statements
• Financial analysis