Efficient Finance and Accounting Operations - Best Practices and Updates Training Course in Dubai

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.

The Content:

The Importance of Best Practices (BP)

• Effective versus Efficient Tools
• Functions of Management
• Finance and Accounting Vision and Mission
• Customer Service Survey
• Purposes and Processes of Finance and Accounting (F&A)
• Accounting Cycle and Financial Statements Cycle

Accounts Payable (AP) Best Practices

• The Life Cycle of Accounts Payable
• Improving AP through Decentralization and Centralization
• Enhancing AP Processing Using Vendor Analysis and Reconciliation
• Electronic Expense Reporting
• On-Line Purchasing Catalogue
• Document Management System

Billing, Collection, Inventory Cash Management, and Budgeting Best Practices

• Accounts Receivable Life Cycle and Tools
• Inventory Life Cycle and Tools
• Improving Cash Management, Lockbox Collections, and Zero-Balance Accounts
• Modern Budgeting Techniques Mindset

Fixed Assets Best Practices

• Fixed Assets Life Cycle and Tools
• Bar Coding Systems
• Capitalizing versus Expensing of Fixed Assets 

Reporting Best Practices Using Excel

• Improving Timeliness and Accuracy of Business and Accounting Data
• Enhancing Report Development and Analysis
• 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
• XBRL, and Dashboards
• Enhancing Policies and Procedures Manuals

Essential Behavioral Concepts for Enhancing  Finance and Accounting Operations

• The New Set of Skills for F&A
• Clean Desk Policy
• Hiring the Best, Cross-Training, Back-Up Strategies, and Teamwork
• Staff Responsibility Charts
• Successful Meetings
• Review/Authorization Procedures
• Peak Performance Time