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Accounts Reconciliation Strategies and Management of Suspense Accounts/Inter-branch/Unit Differences in Microfinance Banks

By: Alpha Partners

Lagos State, Nigeria

23 - 26 May, 2017  4 days

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NGN 110,000

A lot of frauds amounting to very huge sums of money take place due to inefficient operation of inter-branch reconciliations. Huge sums of money remain un-reconciled between the numerous branches and departments of Microfinance Banks. Thus, Microfinance Banks are exposed to risks. Inter-branch unit / department reconciliation approaches differ among banks but the general principles and objectives are similar. As the Microfinance Bank grows in sizes and operations un-reconciled differences mount and suspense accounts are created. There is need therefore to teach proper procedures for management of suspense accounts and reconciliation of outstanding differences. There is also need to improve reported profits by reducing the quantum of “provisions” in the accounts due to huge outstanding balances of un-reconciled transactions.

Content

  • Basic accounting techniques
  • Computer based accounting systems
  • Microfinance bank branch/unit structure and administration
  • Nature of inter-branch/unit transactions
  • Cheque administration and other banking instruments
  • Hierarchy and structure of interbank/department/unit/reconciliation units
  • Branch/Departmental/Units charting accounts codes
  • Various causes of inter-branch/department/unit differences
  • Sorting and matching outstanding transactions
  • Skills in tracking outstanding differences
  • Fraud in un-reconciled Transactions
  • Un-reconciled Transactions for groups of branches, departments/units
  • Electronic fund transfer systems
  • Prudential guidelines including provisions in the accounts based on unreconciled items
  • Application of information technology in inter-branch/unit/departmental transactions
  • Various available reconciliation computer packages
  • Building of suspense accounts
  • Emerging trends and future challenges

For Whom: Accounting Personnel in the Accounts and Financial Control Departments, Internal Auditors, Branch Managers, Operations Managers and in fact, all Managers whose functional and supervisory roles give rise to creation of suspense accounts and the reconciliation of inter-branch/department/unit outstanding transactional difference in Microfinance Banks.

Training Methodology

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participants will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

Alpha Partners Professional Training Conference Centre. 200, Muritala Mohammed Way (3rd Floor) Opposite Adekunle BRT Bus-stop, Yaba - Lagos. May 23 - 26 May, 2017
NGN 110,000.00(The workshop fee is One Hundred and Ten Thousand Naira (N110,000.00) only per participant to cover workshop literature and materials, executive bag, tea/coffee, lunch, photograph and certificate.)
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Chris Onwuasigwe, FCA 08033045484

3-5 Participants - 5% discount allowed, 5 and above number of participants - 10% discount allowed.
A distinguished team of facilitators who are eminently qualified professionals has been assembled to lead discussions in course of the workshop.
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