Self-Study
2
Overview
Accounting
There are no prerequisites.

Course Description

Companies rely on the controller to be able to bill, collect, and reconcile accounts in a timely, accurate manner. Any breakdown in these systems can lead to cash shortages, delayed payments, angry vendors, and unpaid accounts. To ensure that your accounting department runs efficiently, you need controls and processes that streamline each of these functions. In Controller's Role in Cash, Credit, and Collections, Steven Bragg walks you through the challenges that you face in executing these tasks, helping you to lay out a plan to effectively control the flow of cash and credit within your business. You'll learn about basic cash management issues, cash forecasting, petty cash, reconciliation, credits and collections, accounting for bad debt, invoicing, billing, and much more. In the end, this course will assist you in grasping one of the most important aspects of the controller's job - maintaining systems that keep a healthy flow of cash and prompt collections.

This course covers material also contained in The New Controller Guidebook.



Instructor

Steven M. Bragg, CPA

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.

Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).



Course Specifics

Accounting
Jan 16, 2017
There are no prerequisites.
SS1143402
54
None


Compliance Information

103220
Qualifies for CA Fraud: No


Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Recognize the function of a bank statement, the process of reconciling cash, and the related issues that continually arise as a part of the bank reconciliation.
  • Recognize the characteristics of and accounting for petty cash.
  • Recognize the accounting for negative cash on the balance sheet.
  • Identify common controls to manage cash assets.

Chapter 2

  • Recognize ways to measure receivables and adjust credit rules to reduce risk.
  • Identify various credit terms and cash acceleration techniques.
  • Recognize the purpose and methods for estimating the allowance for doubtful accounts.

Chapter 3

  • Recognize the process for creating and issuing customer invoices and how to account for them.
  • Identify the key types of billing controls.

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Table of Contents

 

Chapter 1 – Cash Management

Learning Objectives

Introduction

Controller Responsibilities

Overview of the Bank Reconciliation

The Bank Reconciliation Procedure

Bank Reconciliation Problems

The Bank Reconciliation Statement

Accounting for Petty Cash

The Cash Forecast

Cash Investments

Negative Cash on the Balance Sheet

Cash Controls

Cash Record Keeping

Summary

Chapter 1 Review Questions

Chapter 2 – Credit and Collections Management

Learning Objectives

Introduction

Controller Responsibilities

Receivables Measurement

Credit Management

Credit Terms and the Cost of Credit

Collections Management

Other Cash Acceleration Techniques

The Allowance for Doubtful Accounts

The Direct Write-Off Method

Credit and Collection Controls

Summary

Chapter 2 Review Questions

Chapter 3 – Billing Management

Learning Objectives

Introduction

Controller Responsibilities

Billing Management

Structure of the Invoice

Accounting for Billings

Accrued Revenue

Accounting for Sales Taxes

Billing Controls

Summary

Chapter 3 Review Questions

Review Question Answers and Rationales

Chapter 1

Chapter 2

Chapter 3

Glossary

Index

Qualified Assessment

Answer Sheet

Course Evaluation



Choose Your Preferred Format


Online Access

Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.

online access
Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

hard copy
Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.

hard copy


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