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An Effective Accounts Payable Policy & Procedures Manuals

Instructional MethodAdvanced PreparationProgram PrerequisitesField Of Study Interactive Self Study NONE NONE Accounting Experience LevelCourse IDCPE CreditsAuthor Overview MS-102 2 Mary Schaeffer, CPA An Effective Accounts Payable Policy & Procedures Manual ...Read more
  • Description
Instructional Method Advanced Preparation Program Prerequisites Field Of Study
Interactive Self Study NONE NONE Accounting
Experience Level Course ID CPE Credits Author
Overview MS-102 2 Mary Schaeffer, CPA

An Effective Accounts Payable Policy & Procedures Manual

Course Description: 

Effective policies and procedures in the Accounts Payable function is critical for any organization wishing to reduce or eliminate duplicate payments, prevent and detect fraud, be cost effective and compliant with all regulatory issues affecting the payment function. The first step in that battle is having a current, detailed policy and procedures manual. This course presents information the professional can use to create an effective manual, that not only documents the organizations policies and procedures, can be used as a reference and training guide. Industry expert Mary Schaeffer shows auditors, controllers, and managers how to create such a manual when none exists. She also includes an outline for a sample policy as well as a checklist they can use to determine if their current policy is best practice or something less.

Who Should Attend: CPAs

Topics Covered:
CHAPTER 1 The Role an Accounts Payable Policy and Procedures Manual Plays
CHAPTER 2 Creating the Manual
CHAPTER 3 Using the Manual
CHAPTER 4 The Segregation of Duties Issue
CHAPTER 5 Reviewing and Updating Your Policy and Procedures

Learning Objectives:

 Pinpoint reasons an up-to-date accounts payable policy and procedures manual is needed
 Demonstrate how an accounts payable policy and procedures manual strengthens controls
 Show how to create a policy and procedures manual
 Demonstrate several ways to start creating a manual from scratch
 Show how to use the manual to address the rush check problem
 Identify several short cuts to use when creating a policy and procedures manual
 Delineate the segregation of duties requirements for the accounts payable function for inclusion in the policy and procedures manual
 Show how computer access levels may circumvent segregation of duties requirements
 Prepare an action plan to review and update an old policy and procedures manual
 Identify often-overlooked changes that will improve accounts payable procedures

 


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