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Accounting cycle and File Management System

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Overview     

The day-to-day activities of every accountant revolve around the accounting cycle. Whether one is a bookkeeper, tax practitioner or accountant, their functions are all part of the accounting cycle whose ultimate goal is the presentation of financial statements to the various users.  

A good file management system needs to be in place if one is to perform their accounting cycle activities efficiently and effectively. In addition to this, their are statutory requirements on the time that certain documents produced in the accounting cycle are kept or retained. 

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Learning objectives    

   By the end of this event the attendee will:   

• Understand what the accounting cycle is. 

• Know the stages of the accounting cycle and what is involved at each stage.  

• Understand how to improve efficiency at each stage of the accounting cycle. 

• Understand what a file management system is. 

• Know how to create and run a good file management system. 

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Content   

   The webinar will cover the following topics:   

• The accounting cycle definition. 

• Stages of the accounting cycle explained. 

• What is a file management system? 

• File management system options. 

• Why accounting firms need a document management system. 

• Files that must be kept safe. 

• Converting paper documents into digital formats. 

• Steps to a file/document management system. 

• Creating a file management plan. 

• Levels of security required. 

• Key features of a robust file management system.