COURSE OBJECTIVES:
At the end of this course the participants will be able to:
- 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 practices across all industries.
TARGET AUDIENCE:
- Finance Executives and Professionals.
- Accountants.
- Accounts Payable Managers.
- Accounts Payable Supervisors.
- Accounts Payable Personnel.
- Others who are working within the accounts payable process or who wish to develop a practical toolkit to complement their existing professional or technical skills.
COURSE OUTLINE:
DAY 1: Key Concepts & Terminology in Management and Financial Accounting
- Linking strategy to planning and costing.
- The key role of budgeting and cost control in contemporary organisations.
- Towards a cross-functional process-view of the organisation.
- Understand your processes: integrating financial and non-financial aspects.
- Understanding the Financial Statements.
DAY 2: Business Finance and Liquidity Management
- Identify how a business may maintain a level of liquidity following cash budgets and forecasts.
- Invest surplus funds and Investment risk.
- Obtain loans and obtain overdrafts.
- Interest rate risk.
- Recent events in the banking and financial markets.
DAY 3: Accounts Payable and Financial Accounting
- Accounting and financial information: Accounts Payable in context.
- Sources of finance.
- Financial position and financial performance.
- Cash flow and Working Capital.
- Why is cash flow so important?
DAY 4: Planning for Profit
- Plan for cost reduction and profit improvement.
- Fixed and variable costs income statement.
- Break-even analysis, contribution margin and standard costing.
- Costing approaches – Full Absorption, Marginal, ABC
- New ideas in cost management – lean principles
DAY 5: Improving Invoice Processing and Operational Management
- Invoice handling and approval processes.
- Verifying invoice data.
- Paying “low value” items.
- How to avoid duplicate payments?
- Making the best use of staff time.
PLACE: London (UK)
VENUE (TBC): INDUSTRIOUS (1 and 2, 245 Hammersmith Road Floors, London W6 8PW)
LANGUAGE: English