:: DEFINE | Management Consultancy & Training Provider In UAE, Abu Dhabi,Dubai,Saudi Arabia ::

BUSINESS PROCESS IN FINANCIAL ACCOUNTING

Location

Abu Dhabi, UAE

Date

From Date: 05-May-2025
To Date: 09-May-2025

Duration

5 days

Language

ENGLISH

Discipline

Accounting, Finance

Introduction

This course provides a comprehensive overview of the business processes involved in financial accounting, focusing on the key steps and methodologies used to record, report, and manage financial transactions. Participants will gain an understanding of the core financial accounting processes, from initial transaction recording to financial statement preparation. Emphasis is placed on understanding the flow of financial data, the role of internal controls, and the use of accounting software in managing business processes. By the end of the course, participants will be able to confidently navigate financial accounting processes and ensure compliance with industry standards.

Objective

By the end of this course, participants will be able to:

Understand the fundamental principles of financial accounting and business processes.
Learn the complete flow of accounting transactions, from journal entries to financial reporting.
Gain knowledge of the accounting cycle and its role in preparing accurate financial statements.
Understand key accounting concepts such as debits and credits, accruals, and matching principles.
Learn how to ensure compliance with financial regulations and internal controls in business processes.
Understand the role of accounting software in streamlining business accounting processes.
Develop the skills necessary to prepare and analyze key financial statements: Balance Sheet, Income Statement, and Cash Flow Statement.

Audience

Financial accountants, bookkeepers, and accounting professionals.
Managers and supervisors responsible for financial reporting and accounting processes.
Business owners or entrepreneurs looking to understand financial accounting practices.
Individuals working in finance, accounting, or auditing who want to gain a deeper understanding of business processes in financial accounting.
Students or professionals pursuing certifications in accounting or finance.

Content

Day 1: Introduction to Business Processes in Financial Accounting

Overview of financial accounting and its role in business.
Understanding key accounting concepts: Assets, liabilities, equity, revenue, and expenses.
The role of business processes in financial accounting.
Introduction to the accounting cycle: Recording, summarizing, and reporting financial transactions.
Principles of double-entry bookkeeping: Debits and credits.
Overview of financial statements and their purpose.

Day 2: The Accounting Cycle and Transaction Recording

Step-by-step guide to the accounting cycle: From journal entries to the preparation of financial statements.
Journal entries: How to record financial transactions using debits and credits.
Posting to the general ledger and understanding trial balances.
Accrual accounting vs. cash basis accounting.
The role of subsidiary ledgers (accounts payable, accounts receivable).
Understanding the chart of accounts and how it supports business processes.

Day 3: Internal Controls and Financial Compliance

The importance of internal controls in financial accounting.
Key internal controls for ensuring the accuracy and reliability of financial reporting.
Segregation of duties and its role in preventing fraud and errors.
Compliance with accounting standards and regulations (e.g., GAAP, IFRS).
Audit trails and documentation requirements.
How to implement and monitor internal controls in business processes.

Day 4: Financial Statements Preparation and Analysis

Preparing the Balance Sheet: Understanding assets, liabilities, and equity.
The Income Statement: Calculating revenues, expenses, and profits.
The Cash Flow Statement: Operating, investing, and financing activities.
The role of financial statements in decision-making and business planning.
Understanding financial ratios: Liquidity, profitability, and solvency ratios.
Analyzing financial statements for performance insights and business health.

Day 5: Accounting Software and Business Process Automation

Introduction to accounting software and its role in business processes.
How accounting software streamlines transaction recording, reporting, and compliance.
Automation of journal entries, invoicing, and bank reconciliations.
Using financial reporting tools within accounting software.
Best practices for selecting and implementing accounting software.
Final review: Key concepts and skills for effective financial accounting in business processes.

NOTE:

Pre-& Post Tests will be conducted.

Case Studies, Group Exercises, Group Discussions, Last Day reviews, and assessments will be carried out.

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Certificate

Define Management Consultancy & Training Certificate of course completion will be issued to all attendees.

Methodology

A highly interactive combination of lectures and discussion sessions will be managed to maximize the amount and quality of information and knowledge transfer. The sessions will start by raising the most relevant questions and motivating everybody to find the right answers. You will also be encouraged to raise your own questions and to share in the development of the right answers using your own analysis and experiences. Tests of multiple-choice type will be made available on daily basis to examine the effectiveness of delivering the course.

Very useful Course Materials will be given.

30% Lectures
30% Workshops and work presentation
20% Group Work& Practical Exercises
20% Videos& General Discussions

Course Details