Accounts Payable: A Dynamic Framework for Strategic CFOs & Controllers FLEXCAST

Overview

Those running the function must be armed with the latest and most comprehensive business intelligence affecting accounts payable function if they wish it to be as an effective and regulatory compliant operation as possible. There’s no room for error. Even the smallest mistake can mean a hit to the bottom line; open the door for a potentially fraudulent transaction; and/or inaccurate financial statements. What’s more; fraud has become a huge issue, with new frauds focused directly on those who work in accounts payable doing serious damage. Over the last few years, it has become appallingly apparent that crooks are getting quite adept at targeting organizations and their employees. The amounts of money involved are often quite large and more than a few organizations have lost millions of dollars. This leads to the last part of this intensive course. What many organizations don’t realize is that there are constructive ways to find cash hidden in your accounts payable processes. We identify a dozen of them that not only add cash to your bottom line, they don’t do so at the expense of your suppliers.

Highlights

Invoice handling. Payments. Basic regulatory issues impacting AP. Fraud prevention. Unlocking hidden cash reserves.

Prerequisites

None.

Designed For

CPAs and other accounting professionals.

Objectives

Understand the problems that will arise when the accounts payable function is ignored. Pinpoint the issues poor practices create. Implement appropriate internal controls around the accounts payable function. Create a best practice accounts payable process. Identify and eliminate worst practices in the accounts payable function. Identify potential new frauds, including those that emerged during COVID. Take the necessary steps to prevent a crook from succeeding. Educate your staff (and management) about the newest threats. Recognize when information is being requested fraudulently. Find cash that is hidden in your accounts payable processes.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.