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…
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
By the end of the course, participants will be able to:
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
Target Audience
Professionals in the field of finance and accounting, managers, supervisors, and finance professionals who desire to understand, apply and implement practical tools to enable them to run the finance and accounting departments more efficiently.
Target Competencies
Analytical skills
Accounts payable management
Accounting and managing accounts receivables and inventory
Preparing financial statements
Budgeting
Excel reporting and analysis
Note
This is a hands-on training course using laptops which will be made available by Arab for the duration of the training.
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
Schedule & Fees
2026 Schedule & Fees
There are no public sessions remaining for the course this year. Please contact us if you wish to have a customized in-house session, or to find out how an additional public session can be scheduled.
