Who should attend this program?
This programme provides a user-friendly environment to develop the knowledge and techniques related to accounts payable that are valuable for:
- Finance Executives and Professionals.
- Accountants.
- Accounts Payable Managers.
- Accounts Payable Supervisors.
- Accounts Payable Personnel.
- Others who are working within accounts payable process or who wish to develop a practical toolkit to complement their existing professional or technical skills.
Objectives
- Work effectively with the fundamentals of accounts payable, financial accounting and the supply chain.
- Understand and apply the fundamentals of accounts payable systems.
- Review and comment on payment methods and cash management.
- Analyse the need to incorporate risk and uncertainty into accounts payable analysis.
- Identify best practice across all industries.
Methodology
The programme will provide the theoretical background and techniques that underpin the organisation and management of accounts payable and its related functions. It will provide a real-world practical context by incorporating worked examples and case studies that delegates will see how theory applies in practice and can discuss the various issues raised.
Day 1: Accounts Payable, Financial Accounting and the Supply Chain
- Accounting and financial information: Accounts Payable in context.
- Sources of finance.
- The supply chain.
- Financial position and financial performance.
- Cash flow and Working Capital.
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Day 2: Achieving World Class in Accounts Payable Processes
- Defining Best Practice in AP.
- Moving beyond P2P.
- Managing Risk.
- Principles of Best Practice.
- End to End AP Process.
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Day 3: Improving Invoice Processing and Operational Management
- Verifying invoice data.
- Paying “low value” items.
- How to avoid duplicate payments.
- Making the best use of staff time: limiting telephone calls to AP.
- Does Petty cash management belong in Accounts Payable?
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Day 4: Harnessing Technology in Accounts Payable Processes
- Master Vendor File Management – getting it right from the start.
- Travel & Entertainment.
- Policy management.
- Cash advances and employee reimbursement.
- Process improvement through imaging and workflow.
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Day 5: Making the Payments and Maintaining the Relationships
- Communications & Customer Relations.
- Payments status information for vendors and internal customers.
- Improving Procure to Pay (P2P) Cycle.
- Payments and Payment Solutions: Accounts Payable or Treasury?
- Case-Study.
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Language: English
Place: London – UK
Venue (TBC): Radisson Edwardian Sussex Hotel (Address: 19-25 Granville Pl, Marylebone, London W1H 6PA).