Efficient Finance and Accounting Operations: 2015 Best Practices and Updates

1. Demonstrate how they can enhance the operations of the finance and accounting departments.
2. 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.
3. Leverage their accounting cycle skills.
4. Use new tools to make their job efficient and smart.
5. Apply their knowledge through hands-on workshops and group presentations. 

Professionals in the field of finance and accounting, managers, supervisors, and finance professionals who need to understand, apply and implement practical tools to enable them to run the finance and accounting departments more efficiently. 

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

• The Training lectures.
• The Group discussions.
• The Training Workshops.