Controller's Role in Cash, Credit, and Collections ON DEMAND
Available Until
Your Desk
2.0 Credits
Member Price $58.00
Non-Member Price $67.00
Overview
Companies rely on the controller to be able to bill, collect, and reconcile accounts in a timely, accurate manner. Any breakdown in these systems can lead to cash shortages, delayed payments, angry vendors, and unpaid accounts. To ensure that your accounting department runs efficiently, you need controls and processes that streamline each of these functions. In Controller’s Role in Cash, Credit, and Collections, Steven Bragg walks you through the challenges that you face in executing these tasks, helping you to lay out a plan to effectively control the flow of cash and credit within your business. You’ll learn about basic cash management issues, cash forecasting, petty cash, reconciliation, credits and collections, accounting for bad debt, invoicing, billing, and much more. In the end, this course will assist you in grasping one of the most important aspects of the controller’s job - maintaining systems that keep a healthy flow of cash and prompt collections.
Highlights
Cash Management. Credit and Collections Management. Billing Management.
Prerequisites
None.
Designed For
CPAs, CFOs, controllers, financial professionals, and auditors.
Objectives
Recognize the function of a bank statement, the process of reconciling cash, and the related issues that continually arise as a part of the bank reconciliation. Recognize the characteristics of and accounting for petty cash. Recognize the accounting for negative cash on the balance sheet. Identify common controls to manage cash assets. Recognize ways to measure receivables and adjust credit rules to reduce risk. Identify various credit terms and cash acceleration techniques. Recognize the purpose and methods for estimating the allowance for doubtful accounts. Recognize the process for creating and issuing customer invoices and how to account for them. Identify the key types of billing controls.
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 $67.00
Member Price $58.00