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 Conference Fundamentals of Transformation from the Monetary System to the Computerized Accrual System C1221566 QR Code
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Conference: Fundamentals of Transformation from the Monetary System to the Computerized Accrual System

Overview:

Introduction

Given the importance of moving from the monetary basis to accrual in a smooth and simple manner, this training course shows the foundations for the transition from the monetary system to the accrual system using a computer.

And the cash basis accounting is based on the movement of cash only, but accrual accounting records revenues when they are realized and expenses when they happen instead of recording them when receiving or paying the relevant cash amounts, in addition to recording accrual accounting for assets, liabilities and property rights {net assets}.

Conference Objectives

At the end of this conference the participants will be able to:

  • Switch from the application of the modified monetary system to the accrual system.
  • Gain the benefits of accrual accounting.
  • Gain the basics of measurement in accounting.
  • Evaluate Fixed assets.
  • Prepare financial statements in government units
  • Implement the Application of cost accounting in government units.

Targeted Audience

  • Internal and external auditors.
  • Accountants and financial management personnel interested in preparing and analyzing financial statements.
  • Those working in credit analysis activities in banks who are involved in analyzing the financial statements of the establishments.
  • Responsible for following up and collecting customer accounts.
  • Those working in the field of financial planning and preparing budgets.
  • Anyone who finds themselves in need of this course and wants to develop their skills and experience.

Conference Outline

Unit 1: Fundamentals of Measurement in Accounting:

  • Monetary Basis {Concept – Advantages – Disadvantages}.
  • Accrual basis {concept - advantages - disadvantages}.
  • Modified Monetary Basis {Concept – Advantages – Disadvantages}.

Stages of applying the accrual basis in government units:

  • Immediate application of the accrual basis {advantages - disadvantages}.
  • Gradual application of the accrual basis {advantages - disadvantages}.
  • The proposed method for applying the accrual basis in the United Arab Emirates.

Unit 2: Valuation of fixed assets for the purpose of applying the accrual basis in government units:

  • cash assets.
  • Natural origins.
  • intangible assets.

Unit 3: Applying the criterion of changes in prices when evaluating fixed assets:

  • Historical cost method adjusted for changes in general price levels.
  • The current cost method or the current selling prices in the market.

Unit 4: Preparation of financial statements in government units:

  • Income list.
  • Statement of financial position.
  • Statement of Cash Flows.

Unit 5: Cost accounting application in government units:

  • Shared costs between government units.
  • Prices for transferring services between government units.
  • Costing theory to use.

Training methods:

  • Theoretical lectures.
  • Oral discussion.
  • Role-playing.
  • Applications, practical cases and exercises.

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