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

• Design and produce the Accounting 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

This course is intended for all professionals in accounting and finance.

Day 1:
 

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”

Day 2:

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

Day 3:
 

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

Day 4:

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

Day 5:
 

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

A variety of methodologies will be used during the course that includes:

·         (30%) Based on Case Studies

·         (30%) Techniques 

·         (30%) Role Play

·         (10%) Concepts

·         Pre-test and Post-test

·         Variety of Learning Methods

·         Lectures

·         Case Studies and Self Questionaires

·         Group Work

·         Discussion

·         Presentation

This rate includes participant’s manual, Hand-Outs, buffet lunch, coffee/tea on arrival, morning & afternoon of each day.

Daily Course Timings:

    08:00 - 08:20       Morning Coffee / Tea

    08:20 - 10:00       First Session

    10:00 - 10:20       Coffee / Tea / Snacks

    10:20 - 12:20       Second Session

    12:20 - 13:30       Lunch Break & Prayer Break

    13:30 - 15:00       Last Session