Accounting and finance policies and procedures are the most efficient way to implement company-wide useful internal control tools in any organization. They are part of every business cycle: purchase and payment cycle, inventory and production, HR and payroll, fixed assets and capitalization of costs, and the sales and collection cycle. On top of that, accounting and finance policies and procedures are essential for the board of directors and senior management to communicate limitations and authorities given to different managers and employees throughout the organization. Moreover, their use is also extended to organize financial reporting and compliance with regulators outside the organization.
In this course, participants will be encouraged to think of risk-based processes to write and implement operational policies and procedures. They will learn to allocate tasks to different personnel based on proper segregation of duties and to use software to perform the controls efficiently. Also, the course covers sample financial statements prepared according to the International Financial Reporting System (IFRS).
Policies and procedures are the foundation of internal controls for organizations. Taking a complicated subject and breaking it into manageable components, enables you to hit the ground running and significantly accelerate your completion of a robust policies and procedures program. Effective policies and procedures in the accounts payable function are critical for any organization wishing to reduce or eliminate duplicate payments, prevent and detect fraud, and be cost effective and compliant with all regulatory issues affecting the payment function.
This course presents information which can use to create a practical manual, that not only documents the organization’s policies and procedures but which can also be used as a reference and training guide.’
You might be interested in another Finance and Accounting courses as a next step.
This course is suitable for professionals in accounting and finance.
