Accounting in a multinational IT corporation

Syllabus

1 Introduction to corporate accounting. • Accounting systems, ledgers and accounting data flow. • Posting and inventory of balance sheet account balances. • Accounting cycle and financial statements. • Segment reporting. 2 Hardware and software accounting • Material and time allocation of costs to revenues. • Revenue from hardware and software sales. • 3 Accounting and reporting of reserves and inventories. • Assessment of specific transactions (repurchase, Gross vs Net, Agent vs Dealer, ..) • Cost classification. 4 Service Accounting • Reporting revenues from sales of services (Strategic outsourcing, IT services, consulting) • Accounting and reporting of reserves. • Custom Production (Percent Completion Method) • Repairs, warranty and maintenance. 5 Balance sheet accounting • Receivables and provisions for bad debts. • Obligations from commercial contact. • Accounting for bank transactions. • Intra-corporate bank and cash flows between group companies. 6 Statutory accounting • Differences between US GAAP and statutory accounting. • Preparation of financial statements. • 7 Calculation and reporting of direct taxes. • Deferred tax liability. 8 Overheads and cost centers • Material and accrual of overhead costs. • Cost center principle and cost allocation. • Breakdown of overhead costs. 9 Acquisitions and disposals of assets • Accounting integration of the acquired company. • Preparation of the financial statements of the sold segment and verification by the audit company. • Accounting separation as of the date of sale. 10 Tangible and intangible fixed assets • Definition and classification of tangible and intangible fixed assets. • Classification, depreciation, disposal of tangible and intangible fixed assets. • Impairment of assets, provision for restoration of assets 11 Group Accounting • The nature and importance of group accounting • Overview of the accounting process of companies in the group (receivables, payables, costs, revenues) 12 Internal control and internal audit. • Internal control and its function. • Internal control tools. • Internal audit. • Sarbanes-Oxley Act. 13 Managerial skills • Motivation, Remuneration, Feedback, Conflict Resolution, Communication, Presentation skills, Engagement.