Chart of Accounts Redesign
What you'll learn
- Understand the Importance of the Chart of Accounts for the Accounting Function
- Why Chart of Accounts becomes Outdated
- Changing Role of the CFO and impact on Chart of Accounts
- How to Redesign the Chart of Accounts using a standard Methodology
Requirements
- Very Basic Understanding of Accounting
Description
This course explains the importance of Chart of Accounts in the Accounting Function, Why Chart of Accounts becomes outdated and needs a Review and Redesign and what is the Best Practice driven approach for Redesign of Chart of Accounts
Chart of Accounts serve as the very base for the accounting function. The account codes organized in a specific logical order in the COA will be used for recording the financial impacts of various transactions.
With time the Chart of Accounts may become outdated and pose sever trouble to the Organizations with misleading Financial, Legal and Analytical Reports. It may be because of changing business landscape or business strategies or evolving accounting standards or legal and regulatory changes. It may also be because of legacy CoA inherited by an evolving organization.
The financial reports required for the new age businesses not only covers the traditional accounting details of transactions but also the statistical information which is quantities and trends of transaction progression over a period of time.
The tussle between the time and quality often results in winning of speed over accuracy and it puts immense pressure on the Financial Comptrollers and the CFOs to ensure that the financial information is captured and analysed quickly with minimal errors.
It is important to keep reviewing the COA periodically, consult the finance team on the difficulties they are facing, consult the senior management and stakeholders on the challenges they are facing with the reports and redesign the chart of accounts to ensure that new structure becomes flexible and can accommodate maximum possible foreseeable changes
Who this course is for:
- Team Members of the Finance Department of different Organizations
- ERP Finance Functional Consultants
- Strategy and Advisory Consultants
- Students of CA, CMA, MBA, MCom
- Business Owners and Entrepreneurs
Course content
- Preview06:42
Instructors
![Venkat Manthri](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 64 64"%3E%3C/svg%3E){kind=avatar}
- 4.6 Instructor Rating
- 189 Reviews
- 711 Students
- 8 Courses
CMA and Post Graduate in Commerce
Over 25 years of experience with ERP Applications
Proficient in Baan, Oracle EBS, PeopleSoft, NetSuite, OpenAir, SAP ECC 6, and SAP S4/HANA
Managed multiple ERP Implementation & Upgrade Projects
Assisted multiple clients for ERP Selection
Conducted Post Implementation Audits for ERP Applications
Conceptualized new products for global ERP Vendors
Conducted multiple classroom and remote trainings for Corporate and Individual audience
- 4.6 Instructor Rating
- 541 Reviews
- 6,076 Students
- 16 Courses
It gives a great pride as an instructor on Udemy having around 6000 students and the count goes on....ready to devote more on building new Courses and helping students with the up-to date content/solutions...
I have been an SAP SD/MM consultant for 14 + years , also worked on areas of SCM/Financials/S/4 HANA. Delivered E2E implementation/ Support/ Audit and roll-out Projects in the domains Retail/ Hi-Tech/health Care/ Agriculture/ Service domains
Worked in US/Europe/Middle east and India on various engagements for clients like DuPont/Adobe/GE/Sanofi/Baker and McKenzie Etc
Training/ Teaching has been a great passion for me and delivered internal and external trainings ,also developed LMS modules with simplified leaning courses
- 4.6 Instructor Rating
- 544 Reviews
- 6,219 Students
- 17 Courses
Ours is a partnership firm focusing on Professional Educational Services situated in Bangalore and Hyderabad , India. We worked as partners to EXAMPRO, HONGKONG for about 6 years before transforming to Independent Providers.
eBodhisathva believes in offering the best value to the customer by minimizing all other overheads which are duly passed to customer in the form of price. In other words we believe that the price is the value customer experiences and NOT the costs of administrative and other overheads. We believe that our customer is aware that any fancy spending by the firm is in reality absorbed from the customer without adding value to the customer.The fact that major share of our investment goes to the value providers who are creators of the valuable intellectual content for the customers, indicates how determined the firm is for ensuring the best value to customers.Any spend that does not add value to customer is cost for the firm and for the customer.
We have a team that has good industrial and academic background with certifications such as APICS CPIM,CIERP,CISA,CBCP,CQA and PMP. In addition some of the team members were authors of many thought provoking literature in the area such as DesignThinking, ERP Implementation, Business Ethics in IT, Center of Excellence and Value Added Tax .