Finance & Accounting

Accounting Policies and Procedures

This course provides a comprehensive understanding of accounting policies and procedures, focusing on their development, implementation, and compliance. Participants will learn to create effective policies that align with regulatory standards and enhance financial reporting accuracy.

5 days Classroom or live online English

Smart Horizon Certified - Global Leadership Consultants

Take the course details with you.

Download the full standard outline: why attend, methodology, objectives, audience, competencies, the daily outline and current plans.

Download course PDF

Why attend

From knowledge to real-world impact.

Accounting policies and procedures are critical for ensuring compliance with financial regulations and standards, which can significantly impact an organisation's credibility and operational efficiency. Many professionals face challenges in developing and maintaining these policies, leading to inconsistencies in financial reporting, potential legal issues, and financial misstatements. This course addresses these challenges by providing participants with the skills to create robust policies that not only meet regulatory requirements but also support strategic financial management. Participants will engage in practical exercises that simulate real-world scenarios, enhancing their ability to make informed decisions regarding policy implementation and compliance monitoring.

Participants will gain practical skills in drafting, reviewing, and implementing accounting policies tailored to their organisation's needs. They will engage in real-world scenarios that require them to assess existing policies, identify gaps, and propose improvements, thereby enhancing their decision-making capabilities in financial management. This course will also cover effective communication strategies for policy rollout, ensuring that all stakeholders understand their roles in compliance. By the end of the programme, participants will be equipped to foster a culture of accountability and transparency in financial reporting, ultimately contributing to their organisation's success.

Workplace challenges

Professional Problems This Course Is Designed to Solve

The programme explores practical approaches to the following challenges. Results depend on how the learning is applied in your organisation.

Difficulty translating subject knowledge into practical workplace decisions.
Inconsistent approaches to the activities covered in the course outline.
Lack of a structured plan for applying and reviewing new skills.

Course methodology

How you will learn.

The course employs a mix of case studies, workshops, and practical exercises to facilitate hands-on learning. Participants will analyse real-world accounting scenarios, draft policy documents, and engage in group discussions to critique and refine their work. Specific exercises will include role-playing policy implementation challenges and conducting peer reviews of drafted policies. Participants will also create compliance checklists and monitoring tools to ensure ongoing adherence to established policies. The outputs will include a comprehensive set of accounting policies tailored to their organisation's requirements, along with a compliance checklist and a communication plan for policy implementation. This approach ensures that participants not only learn theoretical concepts but also apply them in practical contexts, reinforcing their understanding and capability.

Course objectives

What you'll take away.

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

Develop accounting policies that comply with relevant regulations and standards.
Assess the effectiveness of existing accounting procedures within an organisation.
Draft comprehensive accounting policy documents for various financial activities.
Evaluate the impact of accounting policies on financial reporting accuracy.
Implement procedures for regular review and updates of accounting policies.
Justify the need for specific accounting policies based on organisational context.

Target audience

Who should attend.

This course is suitable for:

Financial Managers responsible for policy development and compliance.
Accountants tasked with implementing and monitoring accounting procedures.
Internal Auditors focusing on compliance and risk management.
Finance Directors overseeing financial strategy and reporting.

Target competencies

Capabilities you will build.

Participants will develop competencies in:

Ability to draft clear and concise accounting policies.
Skill in evaluating the effectiveness of financial procedures.
Proficiency in aligning accounting policies with regulatory standards.
Capability to implement and monitor compliance with accounting policies.
Aptitude for conducting policy reviews and updates.
Expertise in identifying gaps in existing accounting procedures.

Course outline

Your learning journey.

A focused, practical outline with time to explore, apply and reflect.

Day 1Understanding Accounting Policies and Their Importance

Applied activity: Participants will analyse a fictional company's existing accounting policies, identifying strengths and weaknesses based on regulatory compliance and best practices. They will work in groups to discuss their findings and suggest improvements to enhance policy effectiveness.

Output: A summary report highlighting key findings and recommendations for policy enhancements.

09:00–09:54Definition of accounting policies and procedures and their role in financial reporting.
09:54–10:48Overview of regulatory frameworks (IFRS, GAAP) and their implications for practice.
10:48–11:00Importance of consistency in financial reporting for stakeholder trust and compliance.
11:00–11:30Coffee break
11:30–12:12Importance of consistency in financial reporting for stakeholder trust and compliance. (continued)
12:12–13:06Common challenges in policy development and implementation within organisations.
13:06–14:00Role of accounting policies in risk management and compliance monitoring.

Day 2Developing Effective Accounting Policies

Applied activity: Using a provided template, participants will draft a policy for revenue recognition, ensuring alignment with relevant standards and organisational needs. They will collaborate in pairs to critique each other's drafts and provide constructive feedback for improvement.

Output: A drafted revenue recognition policy document with peer feedback incorporated.

09:00–09:54Key components of accounting policies and their documentation requirements.
09:54–10:48Steps in developing accounting policies tailored to organisational needs and context.
10:48–11:00Stakeholder involvement in policy creation and approval processes for buy-in.
11:00–11:30Coffee break
11:30–12:12Stakeholder involvement in policy creation and approval processes for buy-in. (continued)
12:12–13:06Best practices for policy documentation and ensuring clarity and accessibility.
13:06–14:00Case studies of effective accounting policies in various sectors and their outcomes.

Day 3Implementing and Communicating Policies

Applied activity: Participants will create a communication plan for implementing their drafted revenue recognition policy, detailing how to inform and train relevant staff members. They will present their plans to the group for discussion and refinement.

Output: A comprehensive communication plan outlining key messages, training strategies, and timelines for policy implementation.

09:00–09:54Strategies for effective policy implementation across different departments and teams.
09:54–10:48Training staff on new accounting procedures and compliance requirements effectively.
10:48–11:00Communication plans for policy rollout to ensure understanding and adherence.
11:00–11:30Coffee break
11:30–12:12Communication plans for policy rollout to ensure understanding and adherence. (continued)
12:12–13:06Monitoring compliance with accounting policies and procedures through established metrics.
13:06–14:00Feedback mechanisms for ongoing policy improvement and stakeholder engagement.

Day 4Reviewing and Updating Accounting Policies

Applied activity: Participants will conduct a mock review of an existing accounting policy, identifying areas for improvement and proposing updates based on recent regulatory changes and organisational feedback. They will present their findings to the group for discussion.

Output: A revised accounting policy document with annotations on proposed changes and justifications for updates.

09:00–09:54Importance of regular policy reviews to maintain relevance and compliance.
09:54–10:48Methods for assessing policy effectiveness and compliance through audits.
10:48–11:00Identifying triggers for policy updates based on regulatory changes and organisational feedback.
11:00–11:30Coffee break
11:30–12:12Identifying triggers for policy updates based on regulatory changes and organisational feedback. (continued)
12:12–13:06Documenting changes in accounting procedures and policies for transparency.
13:06–14:00Engaging stakeholders in the review process for buy-in and support.

Day 5Integrating Policies into Financial Operations

Applied activity: Participants will work in teams to develop an integrated policy framework that aligns accounting policies with overall business strategy, considering operational impacts and compliance requirements. They will present their frameworks to the class for feedback and discussion.

Output: A comprehensive integrated policy framework document with strategic alignment and compliance considerations.

09:00–09:54Aligning accounting policies with business objectives and operational needs for effectiveness.
09:54–10:48Case studies on successful policy integration within organisations and lessons learned.
10:48–11:00Tools for monitoring policy compliance and effectiveness in real-time.
11:00–11:30Coffee break
11:30–12:12Tools for monitoring policy compliance and effectiveness in real-time. (continued)
12:12–13:06Assessing the impact of policies on financial performance and reporting accuracy.
13:06–14:00Developing a culture of compliance and accountability within the organisation.

The timings provided are estimates and may vary depending on the number of participants and the discussions taking place during the sessions. They are indicative only and do not constitute a binding commitment.

Dates & venues

Find a session that works for you.

Confirmed dates accept registration requests. Tentative dates are enquiry only.

Good to know

A few things to know.

How is the course delivered?

Our classroom programmes combine facilitated discussion, case studies, exercises and reflection. The precise format will be confirmed before enrolment.

Can you deliver this programme for our team?

Yes, you can enquire about a tailored programme. Share your goals, group size and preferred dates with our learning team.

Will I receive a certificate?

Participants who complete the programme receive a Smart Horizon certificate of attendance. Smart Horizon programmes are not externally accredited and do not award a professional qualification, licence or designation. Where a course title or outline refers to a professional certification (for example, AACE International's Certified Cost Professional), the programme supports learning and preparation only; the credential itself is awarded solely by the relevant professional body under its own application and examination requirements.

What should I confirm before booking travel?

Please confirm the session, exact venue, accessibility arrangements, fees and any visa requirements with the team before arranging travel. Tentative dates are not confirmed sessions.

Keep exploring

Your next horizon awaits.

All courses

The full course agenda and dates are available above. Use the session links in Dates & venues to choose a session. Registration and quotation forms require JavaScript; you can also contact our learning team directly.