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Accounting for
I.S. Professionals
Selecting,
Creating and Implementing successful Financial Systems.....
About the Seminar
Quite often
staff who work in the IT department only receive training in the
technical aspects of their job. They attend programming, systems design
or operating system courses. Very rarely do they receive any commercial
training or an understanding of accountancy, yet they are expected to
develop and work on financial accounting systems. However, Accountancy
has as much jargon and terminology as is found in the computer industry,
it is called the "Language of Business" and must be understood by MIS
staff.
In order to
design, program and implement successful accounting systems for their
organisations IS professionals will find an ever increasing demand to
develop their commercial and financial skills.
This outstanding three day course
is suited to a wide range of people working in the IT Industry
including:
Programers or systems analysts
Staff in the IT area who need to be
aware of accounting concepts
Support and information staff who
work closely with users
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Outline
for 3 day course
INTRODUCTION
Organisation structures
and Accounting requirements
Management and Financial
Accounting
Private and public sector
reporting differences
Basis of accounting -
cash and accrual systems
Dealing with third
parties
• The trading cycle
• Typical trading documents
UNDERSTANDING DOUBLE ENTRY
BOOKKEEPING
Transaction types -
Capital, Assets and Liabilities, Income and Expenditure
Equity - Gearing, Capital
Expenditure, Provisions and reserves
The transaction
equation
Aspects of double entry
systems
• Debits and Credits
• Accruals and Prepayments
• Depreciation of Assets
• Trial Balance and what it means
• Profit and Loss Account, the
bottom line
• Balance Sheet, the health of the
business
Management review of the
accounts
• Information ratios
• Revenue returns
• Analysis of the Balance sheet
DOUBLE ENTRY IN PRACTICE
Understanding the role of
the ledgers, cash books, receivables and payables
Separating the ledgers
for logistic reasons
The need for, and how to
set up control accounts
The differences between,
and uses of Balance Forward and Open Item ledgers
Reconciliation methods to
ensure accuracy
BUDGETARY CONTROL AND MANAGEMENT
ACCOUNTING CONCEPTS.
The Budget and how it is
developed
The need for a Cash Flow
statement
• Analysing the timings
• Developing the statement
• Analysing the results
Commitment Accounting concepts
and uses
• Why budgets don't always work
• Impact on traditional reporting
statements
Source and Application of Funds
statements
COST ACCOUNTING AND COST CENTRES
Why we create Cost Centres
Cost Centres vs Profit Centres
Why cost accounting is different
Integrating costing systems with
general accounting systems
Working out the costs of a
product or a service
TECHNIQUES FOR DEVELOPING COMPUTER SYSTEMS
BASED UPON DOUBLE ENTRY THEORY
Reporting cycles and Cut off
procedures
Taxation implications of
transaction recording and computer processing
• Systems of taxation, VAT, GST, Sales Tax,
etc.
Detailed analysis of the
requirements for the most popular ledger systems
• Accounts receivable
• Accounts payable
• General Ledger
• Inventory systems
Common Accounting Errors found in
systems
ACCOUNTING SYSTEM COMPUTERISATION ISSUES
Batch versus real time update
Dealing with imbalances
Adjustments and changes
Using the computer to improve the
system,
• Integration of the transactions
• Minimisation of data entry
• Links to other systems
• Reporting and file transfer requirements
• Multicurrency implications for accounting
systems
DEVELOPING CONTROL PROCEDURES TO ENSURE
ACCURATE ACCOUNTING SYSTEMS.
Understanding the elements of
control
The impact of computer controls
How to develop systems to ensure
• Accuracy over input
• Adequate controls
• An audit trail
• Run to run controls
A review of the security
requirements in the
• Accounts Payable
• Accounts Receivable
• General Ledger
• Payroll
• Fixed Assets
• Stock systems
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