THE IMPORTANCE OF BEST PRACTICES
- Effectiveness versus efficiency
- Functions of management
- Finance and accounting vision & mission
- Customer service survey
- Purposes and processes of finance and accounting
THE ACCOUNTING CYCLE & 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
BEST PRACTICES IN FIXED ASSETS & BUDGETING
- Fixed assets life-cycle
- Capitalizing versus expensing
- Tracking fixed assets
- Budgeting approaches
- Tips in creating efficiencies in budgeting process
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
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 BEHAVIORAL CONCEPTS FOR ENHANCING FINANCE & ACCOUNTING OPERATIONS
- Effective Communication
- Ethical Decision-Making
- Adaptability and Change Management
- Critical Thinking Skills
- Problem-Solving Aptitude
