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

Overview

In the high-stakes realm of accounts payable, the margin for error is incredibly slim. Even minor mistakes can significantly impact the bottom line, open doors to fraudulent transactions, and lead to inaccuracies in financial statements. Moreover, the surge in sophisticated frauds targeting accounts payable departments has heightened the risks, with many organizations suffering substantial financial losses. This precarious environment demands that professionals running accounts payable functions be equipped with the most advanced business intelligence and strategies to maintain an effective, regulatory-compliant operation. This intensive webcast CPE course is designed to arm participants with the essential skills and knowledge to navigate the complex challenges in accounts payable. It covers understanding the repercussions of neglecting accounts payable functions, pinpointing issues created by poor practices, and implementing robust internal controls. The course goes further to establish a framework for best practice in accounts payable processes, identify and eliminate worst practices, and stay ahead of emerging frauds, particularly those intensified during the COVID era. Additionally, it offers innovative strategies to uncover hidden financial resources within accounts payable processes without compromising supplier relationships, turning potential vulnerabilities into financial advantages for your organization.

Highlights

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

Prerequisites

None.

Designed For

CPAs.

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.