People Development in Finance Shared Service Centres

Topics to be covered :

1. Accounting principles, concepts and regulations
   - Generally accepted accounting principles.
   - Underlying assumptions, policies and accounting estimates.
   - Regulatory influence of company law and accounting standards.
2. Recording accounting transactions
   - Types of business transactions.
   - Double-entry bookkeeping. Accounting equation.
   - Coding system.
   - Journals and ledger accounts.
   - Accounting entries for specific transactions.
   - Trial balance and correcting errors.
3.  Preparing accounting reconciliations
   - Bank reconciliation.
   - Reconciliation of receivables control account.
   - Reconciliation of payables control account.
4. Preparing accounts for single entities
   - Preparing financial statements from a trial balance.
   - Preparing financial statements from incomplete records.
   - Preparing a statement of cash flows.

Learning objectives:

• Understand the key accounting principles and characteristics.
• Explain the influence of legislation and accounting standards on published accounts. 
• Apply the principles of double-entry bookkeeping. 
• Prepare accounting records for typical transactions and events. 
• Perform month end close activities. 
• Reconcile sub-ledgers to general ledger and perform other related account reconciliations. 
• Understand the process behind the preparation of financial statements for single entities. 
• Prepare financial statements and reports.

Topics to be covered:

1. Introduction to management accounting
   - The need for management accounting.
   - Management information requirements and reports.
   - Financial accounting versus management accounting.
   - Sources of management information and coding systems.
2. Costing
   - Cost identification, classification and measurement.
   - Recording costs.
   - Costing methods and techniques.
3. Planning and control
   - Budgeting process and methods.
   - Budget performance analysis.
4. Decision making
   - Cost-volume-profit analysis.
   - Cost accounting for pricing purposes.
   - Long-term decision making.

Learning objectives:

• Understand the role of management accounting in businesses.
• Understand and apply various costing methods.
• Calculate the full cost of product, service, activity, customer. 
• Contribute to the budgeting process. 
• Apply basic modelling and planning techniques to develop budgets.
• Calculate and interpret budget variances.
• Apply breakeven analysis. 
• Apply cost information in pricing decision. 
• Apply investment appraisal techniques to investment appraisals.

Topics to be covered:

1. People
   - Resources.
   - Leadership.
   - An organizational culture to support knowledge sharing and networking.
2. Process
   - Knowledge management strategy.
   - Knowledge cycle.
   - Key performance indicators (KPIs).
3. Platform and partnership
   - Knowledge management systems/approaches/information technologies.
   - Knowledge exchange/coordination/networking objectives.
4. Problem solving
   - Knowledge seeking.
   - Identification of new areas and problems.
   - Critical thinking.

Learning objectives:

• Understand the role of knowledge management in businesses.
• Understand various methods of knowledge management. 
• Calculate the full cost of cost knowledge management system.
• Establish and contribute to the knowledge management process. 
• Apply basic modelling and planning techniques. 
• Establish knowledge management program objectives. 
• Prepare for change. 
• Determine and prioritize technology needs. 
• Assess current state.

Topics to be covered:

1. Cross functional communication
   - The magic of cross functional communication in success.
   - Creating efficient communication processes.
2. Fundamental levels
   - Ability to understand and share feelings of another.
   - Providing effective leadership/ a project leader role.
   - Building a cohesive working environment.
3. GROW Model
   - Learn the language of finance7sales7service.
   - Understand your customers’ customers.
   - Understand their perspective on your product and speak their language. 
4. Summary
   - Interactions.
   - Auditing and reevaluating.
   - What problems we are trying to solve.

Learning objectives:

• Understand the role of cross functional communication in businesses.
• Develop organization goals. 
• Assembling the right teams. 
• Establish all cross functional activities. 
• Apply equal levels of accountability and recognition.
• Establish knowledge management program objectives. 
• Prepare for change. 
• Determine and prioritize needs. 
• Assess current state.