Modern Foundations of Financial Accounting and Processing of Procurement and Warehouse

Course Objectives

 

• Familiarizing participants with the latest updates and tools of accounting from the procurement planning stage to the disbursement pricing stage and preparing the financial statements and cost lists.

• Developing practical capacity and skills to deal with a number of practical problems associated with accounting in warehouses in accordance with international accounting Standard No. 2 inventory.

• Activating of the control tool and preparing documentary cycles according to the latest flow maps tools associated with the warehouses.

• Modern foundations of accounting and financial processing of procurements and warehouses.

• Achieving interdependence and integration among the different stages of inventory accounting.

 

Who Should Attend?

 

• Financial managers and account managers and their deputies and officials responsible for directing general or private accounting restrictions related to procurements and warehousing, and those performing closing, reviewing and auditing final accounts, and preparing or controlling financial reports, directors and heads of audit and review units, financial advisors, personnel who are prepared to assume these positions, and those who are desirous to develop their skills in the field.

 

Course Schedule

Accounting for procurements and warehouses activities

 

• Types of procurements in accordance with the latest global developments.

• Procurement mechanisms and application problems.

• Procedures for accounting for procurements of supplies.

• Accounting procedures for procurements of assets.

• Major practical problems facing procurements managers.

 

Accounting for warehouses activities in accordance with international Accounting Standard No. 2 Inventory

 

• The difference between warehouses and inventory.

• Integrated warehouse accounting framework.

• Inventory documentary session.

• Inventory accounting using periodic inventory and continuous inventory.

• Key outputs of warehouses accounting.

• Various accounting methods inventory valuation.

• Problems of dealing with internal manufacturing cases of stock.

 

Treating practical issues of inventory accounting

 

• Accounting treatment in response cases.

• Accounting treatment for disability in inventory.

• Accounting treatment in cases of increase in inventory.

• Various practical situations in the light of previous practical problems.

 

Oversight of operational activities in procurements and warehouses

 

• Regulatory oversight over operational activities in procurements.

• Regulatory oversight over operational activities in warehouses.

• Regulatory oversight on procurement and warehousing activities under electronic operation.

 

Budgeting for operational activities in in procurements and warehouses

 

• Preparing the estimated warehouse planning budgets.

• The relationship between the budget of warehouses and other budgets.

• Determining the economic quantity, maximum and minimum stock.

• Analysis of deviations in stock budget..

• Preparation of control reports on the stock component.