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UNDERSTANDING AND IMPLEMENTING THE STANDARD CHART OF ACCOUNTS IN MUNICIPALITIES

COURSE NO. PF02

Why Should You Attend:

Municipal Standard Chart of Accounts (mSCOA) is a financial-reporting regulatory reform that came into full effect in South Africa on 1 July 2017. This reform represents a business-process-focused project that standardises all municipal accounting practices and reporting across the country.

This 3-day training course takes us through to understand that every municipality and municipal entity has a chart of accounts that lists all accounts used in the general ledger. MSCOA targets municipal operations by enforcing a standardisation of municipal account numbers and descriptions in their charts.

Municipal Standard Chart of Accounts is an issue that affects all municipalities in South Africa. It is not a straight-forward process and, therefore, many municipalities are not on track with implementing it. The deadline is long gone (1 July 2017), and most municipalities are still struggling to be on track.

There are still many practical implementation challenges facing local government which can only be addressed by attending workshops such as this one. This APS course will assist municipalities with the practical processes of implementing MSCOA by assessing where the municipality finds itself in the process and discussing the necessary steps to move in the right direction. Those municipalities that are not on track with MSCOA implementation really cannot afford to miss this workshop

Course Objectives:

At the end of the seminar, participants will be able to:

  • Understand the composition of the Standard Chart of Accounts (SCOA)
  • Identify the Basic Accounting System (BAS) General Ledger and other systems where transactions are initiated
  • Understand the payments transaction processing and capture in BAS
  • Understand the receipts transaction processing and capture in BAS
  • Understand how to record basic accounting transactions
  • Discuss the various systems of accounting

Be able to do certain reconciliations

Target Audience

Those entities that need practical guidance on what mSCOA means and how to get on track with implementation, including but not limited to:-

  • Municipal Managers
  • Executive Mayors
  • Strategic Planning & implementation Managers
  • Finance personnel /Teams
  • Senior Managers
  • Middle Managers
  • Municipal Counsellors
  • HR Managers
  • Administration Managers

 

Course Fee – R11 999

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