Accounts Payable: Recent Trends and Best Practices

Course Information

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Title: Accounts Payable: Recent Trends and Best Practices
Category: Accounting and Auditing
Field of Study: Accounting
Course Code: M195
CPE Credits: 5.0
Price: 43.95

Description

Description:

Accounts payable is changing. Increased competition resulting from an emerging global market has underscored the intense need for attention on the accounts payable teams. The realm of accounts payable, no longer a simple invoice/payment processing center, is evolving. To move the Accounts Payable departments beyond a back-office operation to a contributor to the company’s bottom line, accounts payable leaders must take a more strategic and holistic approach to a successful transformation. This course can be used by accounting professionals who are seeking to improve their operations and results. Upon completion of this course, you will be able to: 1) describe the accounts payable operations; from the workflow and accounting concepts to proper closing 2) recognize signs of potentially fraudulent behavior 3) implement controls to mitigate risk 3) prepare for the audit 4) identify trends and new methods 5) develop accounts payable analytics and performance metrics.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: None

Advanced Preparation: None

Course Details

Category: Accounting and Auditing

Field of Study: Accounting

Passing Score: 70%

Technical Details: Accounting is a technical field of study.

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Objectives

Objectives:

Part I: Accounts Payable – The Essentials 1. Identify classification and characteristics of accounts payable 2. Recognize the impact of adjusting entries on the financial statements 3. Identify the purpose of closing entries 4. Recognize common accounts payable fraud schemes 5. Identify methods used to conceal payable frauds 6. Recognize different techniques to prevent and detect irregularities in accounts payable 7. Identify common audit procedures for the accounts payable process

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

Profession Identifiers: CPA