Optimal Accounting for Payables

1 Credits: Accounting


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Optimal Accounting for Payables

Course Level
CPE Credits

1 Credits: Accounting

Course Description

The recordation and payment of accounts payable is a deeply inefficient process. Optimal Accounting for Payables shows how to enhance the basic process, as well as how to sidestep portions of it entirely. The result is a much more efficient and effective payables function. The course also notes the impact of these changes on closing the books, fraud, and the annual audit.

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Learning Objectives

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

  • State the reasons why a payables system needs to make prompt payments.
  • Identify the issues associated with a three-way matching system, and how they can be corrected.
  • Recognize the alternatives available for reducing the amount of payables data entry.
  • Recognize the advantages and disadvantages of a reverse lockbox system.
  • Describe the problems associated with the production of manual checks.
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Course Specifics

Course ID
Revision Date
March 21, 2024

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. 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 …