Course : Financial Accounting Operations

Course outline:

• 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
• Essential behavioral 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

The Scandinavian Academy for Training and Development adopts the latest scientific and professional methodologies in training and human resource development, aiming to enhance the efficiency of individuals and organizations. Training programs are delivered through a comprehensive approach that includes:

• Theoretical lectures supported by PowerPoint presentations and visual materials (videos and short films).
• Scientific evaluation of participants before and after the program to measure progress and knowledge acquisition.
• Brainstorming sessions and practical role-playing to simulate real-life scenarios.
• Case studies tailored to align with the training content and participants work nature.
• Assessment tests conducted at the end of the program to evaluate the achievement of training objectives.

Each participant receives the training material (both theoretical and practical) in printed form and saved on a CD or flash drive. Detailed reports, including attendance records, final results, and overall program evaluations, are also provided.

Training materials are prepared professionally by a team of experts and specialists in various fields. At the end of the program, participants are awarded a professional attendance certificate, signed and accredited by the Scandinavian Academy for Training and Development.

Program Timings:

• 9:00 AM to 2:00 PM in Arab cities.
• 10:00 AM to 3:00 PM in European and Asian cities.

The program includes:

• A daily buffet provided during the sessions to ensure participants comfort.

introduction: 

Stop what you are doing, take a step back, and look at how you perform your work. You will probably agree that things are currently effective but could be more efficient. This course will provide you with the tools and techniques necessary to enhance all the building blocks of accounting and finance. From accounts payable and cash management to budgeting and financial statements, we will show you best practices in tools and techniques that will make your job easier and help you deliver more value. The course will also cover behavioral concepts related to the day-to-day accounting and finance operations.

Course Methodology

This course uses a mix of exercises, workshops, group case studies, and presentations. Additionally, some time will be devoted to learning practical tools in Excel for reporting, analysis and reconciliation. Conceptual ideas, rules, and best practices will also be discussed in accounting, finance, budgeting and general reporting.

Course Objectives

• 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 day-to-day finance and accounting operations

The Scandinavian Academy for Training and Development is committed to hosting all training programs in dedicated and well-equipped hotel facilities specifically designed for conducting and delivering training sessions, unless explicitly stated otherwise on our website. Participants will be notified of the program venue within 7 to 21 days prior to the programs start date, based on the Academys assessment and the programs circumstances. The Scandinavian Academy for Training and Development emphasizes that it holds no responsibility for any force majeure events that may prevent the program from being held at the designated venue. Nevertheless, the Scandinavian Academy for Training and Development will make every effort to provide suitable alternatives and extend the necessary support to participants in the event of a venue change due to unforeseen circumstances.