In today's highly competitive and cost-conscious environment, understanding financial accounting for contracts is an important part of business activity. Over 85% of business transactions are governed by contracts and hence it is necessary that contracts be aligned with business expectations. It requires legal and Non-professionals to be well versed with the contents of financial accounting for contracts and expertise to foresee the risk and have futuristic thinking to handle contracts in the best interest of their organization.

This understanding the workings of Financial Accounting for Contracts and Other Charges workshop is for any professional who wants to learn and understand the workings of accounting for contracts. This would include individuals who have no experience, but want to learn the fundamentals, as well as those who have or will have a job that directly involves dealing with financial accounting for contracts.

Course Outline

By attending this  programme you will:

• Get-to-grips on understanding contractual terms and their impact on businesses
• Expand your knowledge of the risk in liability clause
•  Master practical knowledge of contents of agreements
• Examine specific clauses and their use
• Learn how to interpret variations and time of essence clauses
• Clarify essential terminology in financial accounting for contracts and other charges
• Get Best Practices on Accounting for Contracts and other charges
• Get up-to-date with the use contractual liability clauses and indemnities
• Understand the effect of exclusion and limitation clauses and how they can be used to manage your exposure
• Understand the limits of liabilities

Who Should Attend

This course is relevant and beneficial to local and multinational manufacturing, procurement companies, in particular for purchasing, sale procurement and supply staff of all levels, officers and administrators, marketing and sales managers, legal officers and all those who are involved in any sort of sale and supply contracts. Also suitable for all levels of Staff who are involved in contract management, Procurement contracts, Sales contracts, officers and administrators, marketing and sales managers, legal officers and all those who are involved in any sort of sale and supply contracts.

Methodology:

Interactive lectures, discussion, Q and A and activities on all modules.