This course focuses on the user orientation of financial accounting, the uses of financial statements, how to analyze a business entity, and how the accounting system is structured. Topics include recording transactions, adjusting entries, preparing financial statements, the accounting cycle, merchandise operations, inventory accounting, accounting systems, internal control, cash, accounts receivable, capital assets, corporations, analysis of financial statements, and accounting terminology.

Identify the main elements of a vision for finance and accounting
• Evaluate and improve accounts payable process
• List the key best practices in receivables, inventory and cash management
• Assess the budgeting process in their organizations and recommend improvements
• Apply MS Excel reporting and analysis techniques for a faster accounting and finance
operations
• Develop an enhanced understanding of the behavioral concepts related to the dayto-
day finance and accounting operations

Finance Professionals, Finance Managers, Senior Accountants, Accounting & Budgeting Personnel,
Corporate Controllers, Financial Controllers, Treasury Professionals, Chief Accountants, Accounting
Managers, Accounting Professionals, Financial Executives, Auditors, Financial Analysts, Bankers,
Investment Bankers, Senior Accountants, Banking Professionals, Corporate Business Professionals, Professionals in the field of finance and accounting, managers, supervisors, and finance
professionals who desire to understand, apply and implement practical tools to enable them to run the finance and accounting departments more efficiently.

This interactive Training will be highly interactive, with opportunities to advance your opinions and ideas and will include:
• Lectures
• Workshop & Work Presentation
• Case Studies and Exercise
• Videos and General Discussions

The Importance of Best Practices
• Effectiveness versus efficiency
• Functions of management
• Finance and accounting vision and mission
• Customer service survey
• Purposes and processes of finance and accounting
The Accounting Cycle and Financial Statements
• The accounting processing cycle
• Overview of key financial statements
• Income Statement
• Balance sheet
• Cash flow
Applying Best Practices in Accounts Payable (AP)
• Accounts payable life-cycle
• AP common inefficiencies - areas for improvement
• Centralized versus decentralized AP
• AP/supplier portal
• Electronic expense reporting
• Online purchasing catalogue
• Document management system
Applying Best Practices in Accounts Receivable (AR), Inventory and Cash
• AR Life cycle
• Accounting for the allowance for doubtful accounts
• Four dimensions in managing AR
• Credit policy
• Billing
• Collection
• AR segmentation
• Inventory life-cycle
• Costing methods
• Valuation and presentation of inventory
• Best practices in inventory management
• Best practices in cash management
Best Practices in Fixed Assets and Budgeting
• Fixed assets life-cycle
• Capitalizing versus expensing
• Tracking fixed assets
• Budgeting approaches
• Tips in creating efficiencies in budgeting process Reporting Best Practices
Using MS Excel
• 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
• Enhancing policies and procedures manuals
Essential Behavioural Concepts for Enhancing Finance and Accounting (F&A) Operations
• The new set of skills for F&A
• Clean desk policy
• Peak performance time
• Successful meetings
• Communication skills
• Reviewing and authorization matrix
• Cross training and back up strategies

A RECTUS attendance certificate will be awarded to all participants who complete at least 80% of the total course duration.