Efficient Finance & Accounting Operations: Best Practices & Updates

ICTD International Centre for Training and Development

What are the topics?

ICTD International Centre for Training and Development

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Read more about Finance

Finance is an integral and most important component of any business, so everyone needs to improve their competence in this area. Finance courses will ...

Who should attend

Professionals in the field of: * Finance and Accounting * Managers * Supervisors * Finance Professionals Who need to understand, apply and implement practical tools to enable them to run the finance department more efficiently?

About the course

This five day program will enhance your ability to understand financial reports, better communicate with financial officers in your organization, evaluate your unit's financial performance, and make sound financial decisions.

The purpose of this course is to help those involved in finance, accounting interpret data from financial reports, including balance sheets, income statements, budgets, and divisional performance reports and make better business decisions based upon this information. Participants will be better able to communicate the financial goals and performances of their departments to outside sources. They will improve their understanding and be able to use financial language to communicate with others, including financial managers in their organizations.

This course provides you with a working knowledge of the principles and practices of the financial management of companies and the financial analysis of leveraged buyouts. It ensures that you acquire a sufficiently thorough understanding of the subject in order to be able to use the tools and techniques in an effective manner

## Course Objectives

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

  • Demonstrate how they can enhance the operations of the finance and accounting departments.
  • Apply internationally implemented best practices in the following areas: accounts payable, billing, budgeting, cash management and treasury, costing, filing, financial statements, general ledger, inventory and policies and procedures.
  • Leverage their accounting cycle skills.
  • Use new tools to make their job efficient and smart.
  • Apply their knowledge through hands-on workshops and group presentations.

## Course Outline

Importance of Best Practices (BP)

  • Defining BP

  • Effective Versus Efficient Tools

  • Implementation Techniques

  • The Importance of Surveys

Finance Process Improvements

  • Pivot Tables

  • On-line Purchase Interface

  • Document Management Systems

  • Electronic Expense Reporting

Budgeting Best Practices

  • Importance of Budgeting

  • Good or Bad Budgets?

  • Enhancing Budgeting Process

  • The ZBB Versus Traditional Budgeting

Accounts Payable (AP) Best Practices

  • Tools Used to Improve AP Processing

  • The Role of Accounts Payable and Accounts Payable Cycle

  • Improving AP

Billing, Collection, and Cash Management Best Practices

  • How to Improve AR Function

  • Improving Cash Management

Financial Statement and Reporting Best Practices

  • Can We Really Improve Financial Statements?

  • XBRL, XML, F9, and Dashboards

  • General Ledger

  • Payroll

Enhancing the Finance and Accounting (F&A) Departmental Operations

  • Planning for Month-end Process

  • The New Set of Skills for F&A

  • Policies and Procedures

  • Meetings, Clean Desk Policy, and Delegations Best Practices

  • Hiring the Best, Cross Training, Back-up Strategies, and Teamwork

  • Staff Responsibility Charts

Videos and materials

Efficient Finance & Accounting Operations: Best Practices & Updates at ICTD International Centre for Training and Development

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Read more about Finance

During Finance courses, you will get acquainted with a huge number of financial analyst tools and learn how to work with them. So, you will learn how to make and analyze financial reporting, calculate the main financial indicators of the company and ...

Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.

We are happy to help you find a suitable online alternative.