Rise SA Team held a financial training for non-financial professionals. Rise School Management is an all-in-one school-specific solution for local schools. It is comprised of a school-specific accounting with 043-form, batch invoicing, learner management & a school-parent communicator.
Training is essential for local schools, especially on the accounting side of things. That is why Rise SA Team decided to hold a financial training for non-financial professionals on Nov 13, 2018 for the Admin staff of local schools. The response was phenomenal with many schools willing to attend. Due to the limited space, we had to put a few people on the waiting list.
[9th School forum]: Financial training for non-financial professionals
The boardroom was full of the admin professionals from local schools, as you can see on the photo above. The training took place from 10.00 am till 11.00 am on Nov 13, 2018, at TSiBA in Pinelands. The engagement from the forum attendees was great. Some insightful questions relating to the schools' daily accounting practices and principals were posed to the Forum host, Achmat Kazie.
As many of you might know, Achmat is the head of our Rise SA Team. He is a certified business accountant and a tax practitioner with over 15 years of expertise of working with higher education institutions and NGOs.
The agenda of the financial training for non-financial professionals can be seen below.
Defining Chart of Accounts
Cash accounting vs. accrual accounting
Computerised vs. manual accounting
Achmat started off with explaining what the Chart of Accounts for school is and what part of it is the General Ledger. He has then moved on to the income statement, illustrating on the practical examples what double entry accounting means and what principals schools should adhere to in the double entry accounting.
There were some insightful topics and questions raised during the training. How can using purchase orders help curb the fraud? Why are the source documents so important? Double-entry accounting vs. cash accounting. Qualified audit vs. unqualified audit and many more invaluable insights.
One would think that a qualified audit is a better option, but not so fast. It appears that names can be deceitful in the accounting realm. The reality is that for schools an unqualified audit is the best outcome they can hope for in terms of the audit.
During the training Achmat has also touched upon what the quote, purchase orders (PO) are and why they are not the source documents, contrary to the popular belief.
Capturing supplier invoices seems to be of great importance in accounting. The training attendees learned why they need to capture it even if it had not been paid.
Overall the 26 attendees were satisfied with the training outcomes. A lot of admin staff learned a lot about accounting principals and best practices.
Here is some feedback from the training attendees:
"Clear and concise", "I got a better understanding of accounting", - Bel Porto School;
"Insightful, inspiring and useful", - Lotus Primary School;
"Interesting and knowledgeable", - Maitland High School;
"Very useful for daily work," - Bosmansdam High School.
In 2018 we've held 9 School Forums with over 140 attendees from over 80 local schools
Rise School Management is an innovative all-in-one school-specific solution. It is comprised of the accounting for schools with 043-form, batch invoicing, learner management and a school-parent communicator. We provide personal, high quality support and training. Contact us via firstname.lastname@example.org
to find out more details.