Optimal Accounting for Payables ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
The recordation and payment of accounts payable is a deeply inefficient process. Optimal Accounting for Payables shows how to enhance the basic process, as well as how to sidestep portions of it entirely. The result is a much more efficient and effective payables function. The course also notes the impact of these changes on closing the books, fraud, and the annual audit.
Highlights
Payables Inefficiencies. Optimal Accounting for Invoice Approvals. Optimal Accounting for Three-Way Matching. Optimal Accounting for Expense Reports. Optimal Accounting for Data Entry. Optimal Accounting for Payments. Monitoring of Optimal Systems. Impact of Optimization on Closing the Books. Impact of Optimization on Fraud. Impact of Optimization on the Annual Audit.
Prerequisites
None.
Designed For
CPAs, CFOs, controllers, financial professionals, and auditors.
Objectives
State the reasons why a payables system needs to make prompt payments. Identify the issues associated with a three-way matching system, and how they can be corrected. Recognize the alternatives available for reducing the amount of payables data entry. Recognize the advantages and disadvantages of a reverse lockbox system. Describe the problems associated with the production of manual checks.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $33.00
Member Price $29.00