COURSE OVERVIEW:
Welcome to the Apply Professional Work Practices in Accounting & Finance Operations course. This program has been designed to strengthen your technical capability, accuracy, and professional conduct to perform accounting and finance tasks reliably, efficiently, and in line with organisational, regulatory, and ethical expectations.
Accounting and finance functions are built on disciplined, repeatable work practices that support sound decision-making and organisational stability. This course begins by introducing the nature of accounting and finance work, outlining typical roles and responsibilities across these functions, and emphasising the importance of accuracy, consistency, and reliability in every task. It also explores expectations for professional conduct and accountability, highlighting how individual work habits contribute directly to the integrity of financial information and the reputation of the organisation.
A sound grasp of accounting principles and financial standards underpins all professional practice in this field. This section examines the application of fundamental accounting principles, the role of financial reporting standards, and the importance of consistency in financial practices across the organisation. It also considers how day-to-day work must align with organisational policies and procedures so that financial information is prepared and reported in a coherent, comparable, and compliant manner.
Maintaining accurate financial records is central to trustworthy accounting and finance operations. This section focuses on recording financial transactions correctly, ensuring completeness and accuracy of data, and organising financial documentation in a systematic and accessible way. It also highlights the importance of clear audit trails, enabling reviewers, auditors, and managers to understand how transactions have been processed and verified over time.
Accounts payable processes must be handled carefully to maintain supplier relationships and cash flow control. This section explores how to review invoices for accuracy and approval, match invoices to purchase orders, and process payments within required timeframes. It also examines approaches to resolving discrepancies and errors in a structured and documented manner, reducing the risk of duplicate payments, disputes, or missed obligations.
Accounts receivable practices play a key role in sustaining organisational liquidity. This section considers how to issue invoices correctly and promptly, record customer payments accurately, and monitor outstanding balances. It also addresses following up overdue accounts professionally and consistently, supporting effective cash collection while maintaining positive relationships with customers.
Payroll and employee entitlements must be managed with precision and confidentiality. This section examines how to process payroll calculations accurately, apply tax, superannuation, and other deductions correctly, and maintain leave and entitlements records in line with legislation and organisational policy. It also emphasises the importance of maintaining confidentiality of payroll information and protecting the privacy and trust of employees.
Bank and financial account reconciliations provide assurance that records reflect actual financial activity. This section explores how to perform regular bank reconciliations, identify and investigate discrepancies, and adjust records where required. It highlights the need for reconciliation accuracy and timely resolution of variances so that decision-makers can rely on reported balances and cash positions.
Effective use of accounting software and financial systems is critical to modern finance work. This section considers how to navigate accounting and finance platforms, enter data accurately, and generate financial reports as required by managers, auditors, or regulators. It also emphasises maintaining system security and access controls so that financial data is protected and only authorised staff can perform specific actions or view sensitive information.
Budgets and forecasts provide a framework for financial planning and control. This section examines how to monitor budget allocations, track actual expenditure against budgets, and identify variances and trends that may require explanation or corrective action. It also explores how to support reporting on budget performance so that leaders can make informed decisions about resourcing, cost management, and future planning.
Preparing financial reports and statements is a core responsibility within accounting and finance roles. This section focuses on compiling financial data accurately, preparing profit and loss statements, balance sheets, and cash flow reports, and reviewing outputs for accuracy and completeness. It highlights the need for careful checking, consistency with standards, and clear presentation so that users can readily interpret financial information.
Compliance with financial regulations is an essential aspect of professional practice. This section explores relevant regulatory and legislative requirements, including tax and reporting obligations, and examines how to maintain appropriate compliance documentation. It also considers responses to compliance reviews and audits, including the importance of timely information, transparency, and cooperation with internal and external reviewers.
Internal controls and risk management protect the organisation from error, fraud, and financial loss. This section examines how to apply internal control procedures, identify financial risks and weaknesses in processes, and implement checks and balances such as authorisations, reconciliations, and segregation of duties. It also addresses how to report control issues appropriately so that weaknesses can be rectified and risks reduced.
Clear communication of financial information is important for supporting decision-making across the organisation. This section explores how to present financial information accurately, explain data and reports to non-financial staff in accessible terms, and respond to financial enquiries professionally. It emphasises maintaining high communication standards, avoiding jargon where inappropriate, and ensuring that messages are both technically correct and easy to understand.
Protecting confidentiality and data security is a fundamental responsibility in accounting and finance roles. This section examines how to safeguard sensitive financial information, apply data security protocols, and manage access to financial records appropriately. It also considers how to respond to actual or suspected data breaches, including notification, containment, documentation, and improvement of controls.
Finally, the course concludes with a focus on reviewing work for accuracy and quality assurance. This section explores how to check calculations and entries methodically, identify and correct errors, and apply quality control processes to ensure that all outputs meet organisational standards. It reinforces the idea that careful review is an integral part of professional practice, not an optional extra.
By the end of this course, you will be equipped with the structured work practices, technical discipline, and professional standards required to operate effectively in accounting and finance roles, contributing to accurate reporting, sound decision-making, and strong organisational governance.
Each section is complemented with examples to illustrate the concepts and techniques discussed.
LEARNING OUTCOMES:
By the end of this course, you will be able to understand the following topics:
1. Introduction to Accounting & Finance Practices
- Understanding work practices in accounting and finance
- Roles and responsibilities within accounting and finance functions
- Importance of accuracy, consistency, and reliability
- Professional conduct and accountability expectations
2. Understanding Accounting Principles and Financial Standards
- Applying fundamental accounting principles
- Understanding financial reporting standards
- Ensuring consistency in financial practices
- Aligning work with organisational policies
3. Maintaining Accurate Financial Records
- Recording financial transactions correctly
- Ensuring completeness and accuracy of data
- Organising financial documentation systematically
- Maintaining clear audit trails
4. Processing Accounts Payable Accurately
- Reviewing invoices for accuracy and approval
- Matching invoices to purchase orders
- Processing payments within required timeframes
- Resolving discrepancies and errors
5. Processing Accounts Receivable Accurately
- Issuing invoices correctly and promptly
- Recording customer payments accurately
- Monitoring outstanding balances
- Following up overdue accounts
6. Managing Payroll and Employee Entitlements
- Processing payroll calculations accurately
- Applying tax, superannuation, and deductions
- Managing leave and entitlements records
- Maintaining confidentiality of payroll information
7. Reconciling Bank and Financial Accounts
- Performing regular bank reconciliations
- Identifying and investigating discrepancies
- Adjusting records where required
- Ensuring reconciliation accuracy
8. Using Accounting Software and Financial Systems Effectively
- Navigating accounting and finance software
- Entering data accurately into systems
- Generating financial reports
- Maintaining system security and access controls
9. Managing Budgets and Financial Forecasts
- Monitoring budget allocations
- Tracking actual expenditure against budgets
- Identifying variances and trends
- Reporting budget performance
10. Preparing Financial Reports and Statements
- Compiling financial data accurately
- Preparing profit and loss statements
- Preparing balance sheets and cash flow reports
- Reviewing reports for accuracy and completeness
11. Ensuring Compliance with Financial Regulations
- Understanding regulatory and legislative requirements
- Applying tax and reporting obligations
- Maintaining compliance documentation
- Responding to compliance reviews and audits
12. Managing Internal Controls and Risk
- Applying internal control procedures
- Identifying financial risks and weaknesses
- Implementing checks and balances
- Reporting control issues appropriately
13. Communicating Financial Information Clearly
- Presenting financial information accurately
- Explaining financial data to non-financial staff
- Responding to financial enquiries
- Maintaining professional communication standards
14. Managing Confidentiality and Data Security
- Protecting sensitive financial information
- Applying data security protocols
- Managing access to financial records
- Responding to data breaches appropriately
15. Reviewing Work for Accuracy and Quality Assurance
- Checking calculations and entries
- Identifying and correcting errors
- Applying quality control processes
- Ensuring work meets organisational standards
COURSE DURATION:
The typical duration of this course is approximately 3-4 hours to complete. Your enrolment is Valid for 12 Months. Start anytime and study at your own pace.
COURSE REQUIREMENTS:
You must have access to a computer or any mobile device with Adobe Acrobat Reader (free PDF Viewer) installed, to complete this course.
COURSE DELIVERY:
Purchase and download course content.
ASSESSMENT:
A simple 10-question true or false quiz with Unlimited Submission Attempts.
CERTIFICATION:
Upon course completion, you will receive a customised digital โCertificate of Completionโ.