COVID-19 | Crisis Management- Your Accounts Payable Function in Uncertain Times (scheduled webinar)

  • Credits: 1
  • Format: Scheduled Webinar
  • Field of Study: Accounting
  • Author/ Speaker: Mary Schaeffer

Course ID: Advanced Preparation: Experience Level:
MS-116.LW Basic Understanding of Accounting Basic
Published Date: Program Prerequisites: Other Course Formats:
© May 2020 None All Formats

COURSE DESCRIPTION

Many organizations take their accounts payable function (along with most others) for granted until suddenly, they can’t get an invoice to a critical vendor paid. Or, as many are finding out the hard way, their accounts payable team can’t get into the office to pick up all the paper invoices that need to be processed. This has happened for a few days in the past, mainly due to weather-related incidents. But they pass fairly quickly and it’s easy to play catch up. This time is different and it has highlighted the areas where the current process is not sufficient.

This brand-new session was created by AP Now’s founder, Mary Schaeffer, and is based on the real-life experiences of many of her readers, who are accounting and accounts payable professionals as well as interviews with experts. They shared practices that are working, those that are not and lessons learned.

Learning Objectives:

After reading the course material, you will be able to:

  • Identify areas where your current accounts payable function might need adjustment to deal with a crisis, like a coronavirus
  • Develop practices that will help handle the masses of paper invoices that many are still receiving
  • Manage staff and a management team working remotely
  • Convert many of your vendors to receiving electronic payments instead of paper checks
  • Create processes for those who must go into the office
  • Deal with potentially fraudulent “change of bank account requests.”
  • Keep up the morale of staff not used to working remotely
  • Plan for future crises.

Who Should Attend:

Accountants, controllers, accounting managers, auditors (internal and external), Treasurers, CFOs, CEOs, accounts payable professionals, procure-to-pay professionals, and travel managers.

  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Tax Return Preparers (TRPs)

Qualifies and approved with all state boards of accountancy and the following sponsorships:

NASBA
IRS