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4 - AAU - Accounting and Financial Auditing

AAU 320 - Management of Standards & Procedures

Code Start Date Duration Venue
AAU 320 25 September 2023 5 Days Istanbul Registration Form Link
AAU 320 20 November 2023 5 Days Istanbul Registration Form Link
AAU 320 11 December 2023 5 Days Istanbul Registration Form Link
Please contact us for fees


Course Description

Accounting and finance policies and procedures are the most efficient way to implement company-wide effective internal control tools in any organization.

They are part of every business cycle: purchase and payment cycle, inventory and production, HR and payroll, fixed assets and capitalization of costs, and the sales and collection cycle. 

On top of that, accounting and finance policies and procedures are essential for the board of directors and senior management to communicate limitations and authorities given to different managers and employees throughout the organization. 

Moreover, their use is also extended to organize financial reporting and compliance with regulators outside the organization.

Course Objectives

  • Manage and produce a model accounting and finance manual.
  • Plan the required resources needed for the department.
  • Apply accounting concepts and International Financial Reporting Standards.
  • Set the chart of accounts in details to suit the business model.
  • Manage comprehensive policies and procedures to streamline accounting for fixed assets.
  • Develop policies and processes for current assets and current liabilities.
  • Formulate reporting requirements as per International Financial Reporting Standards

Who Should Attend?

  • Financial managers
  • Financial controllers
  • Finance department heads, chief financial officers
  • Accounting managers, senior finance officers, accountants
  • Finance staff and analysts 

Course Details/Schedule

Day 1

  • Introduction.
  • Manual purpose and organization
  • Financial authorities and responsibilities
  • Process mapping chart: basic Icons
  • IFRS Framework

Day 2

  • Underlying accounting assumptions
  • Accrual basis versus cash basis
  • Going concern assumption
  • System and reliability of measurement
  • Concepts of assets, liabilities, income and expense

Day 3

  • Setting-up a chart of accounts
  • Accounts and cost centers
  • System structure
  • Exchange rate differences
  • Prepaid and accrual concepts and treatments
  • Assets capitalization costs
  • Depreciation, amortization and depletion
  • Impairment of assets
  • Disposal of assets

Day 4

  • Approving suppliers for purchases
  • Receiving invoices and inventory
  • Accruals
  • Dividends payable
  • Payment orders processing
  • Approving clients
  • Bank or other guarantees
  • Recording invoices
  • Collections
  • Allowance for doubtful debts

Day 5

  • Essential budgeting policies
  • Financial statements process
  • Balance Sheet
  • Income Statement
  • Cash Flow Statement
  • Changes in Equity Statement
  • Notes
  • Financial analysis