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It's All About Your bottom Line

Instructional MethodAdvanced PreparationProgram PrerequisitesField Of Study Interactive Self Study NONE NONE Accounting Experience LevelCourse IDCPE CreditsAuthor Overview MS-108 11 Mary Schaeffer, CPA It’s All about Your Bottom Line: Developing AP Issues and Practices Course Descr ...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-108 11 Mary Schaeffer, CPA

It’s All about Your Bottom Line: Developing AP Issues and Practices

Course Description:

Both the business world and more specifically, the accounts payable function are going through a massive upheaval. These changes, if not recognized and dealt with appropriately and in a timely manner can have a huge negative impact on any organization’s bottom line. This course takes a deep dive into the developing issues impacting the AP function of every company. The issues evaluated in this course are critical to those who want to run a cost-effective, efficient, fraud-resistant AP function.

Who Should Attend: CPAs

Topics Covered:
Chapter 1 Changing Best Practices: No Longer a Static Set of Rules
Chapter 2 The Evolution in the Invoice Environment
Chapter 3 The Business Community Takes a Giant Step away from Paper Checks: Electronic Payments
Chapter 4 Electronic Payments: Expansion and Innovation
Chapter 5: Expense Reimbursement Receipts: The Bombshell Issue Many Don’t Expect
Chapter 6: Emerging Payment Frauds, both Large and Small
Chapter 7: Vendor Portals in Accounts Payable
Chapter 8: Advances in Technologies Provide New Data Insights
Chapter 9: Unique Challenges Created by Personal Devices (Smartphones and Tablets)
Chapter 10: Often-Overlooked Internal Control Breakdowns
Chapter 11: The New Vocabulary in Use in Accounts Payable (and Elsewhere in the Business Community)
Chapter 12: The Accounts Payable Function of Tomorrow
Chapter 13: The Future of the Professionals Working in and Managing the

Learning Objectives:

 Pinpoint problems that arise when best practices are ignored in AP
 Implement a best practice AP policy
 Create procedures that address new issues impacting AP function
 Create a best practice policy to address new invoice receipt issues
 Develop an efficient process to handle emailed invoices
 Devise a plan to weed out duplicate copies of the same invoice
 Implement an ACH payment program
 Develop a policy to use ACH to handle all Rush payments
 Build a process to supply remittance information with ACH payments
 Expand an existing ACH payment program
 Develop strategies to convince suppliers to accept electronic payments
 Avoid the hidden surprises that can destroy an ACH payment program
 Create a best practice receipt requirement policy
 Use a new receipt policy to deter fraud and identify expense report abusers
 Identify common tricks used by some employees to pad their expense reports
 Develop procedures to prevent your company from being hurt by ACH fraud
 Implement a vendor portal to improve AP’s efficiency
 Utilize a self-service policy suppliers’ information
 Eliminate the possibility of change of account fraud
 Create a scoreboard to monitor AP activity
 Utilize big data to better analyze procurement data
 Take advantage of data analytics to improve payment and payables functions
 Pinpoint all the issues that need to be addressed in a BYOD policy
 Create a realistic BYOD policy that addresses your company’s needs
 Identify common BYOD concerns and develop policies to address them
 Pinpoint the reasons internal controls fail and address them
 Identify the control problems in the payment process
 Spot the control problems in the AP process
 Detect common control issues around personnel
 Recognize new terminology and technology in use in AP
 Reorganize the AP function to take advantage of new technology
 Implement procedures to ensure compliance with all the regulatory issues
 Create a Dynamic Discounting program
 Pinpoint the skill sets and personnel likely to be successful in AP in the future
 Implement a customer service approach in the AP department
 Identify the needed skills you or your staff might 

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