3 Credits: Accounting
In the high-stakes realm of accounts payable, the margin for error is incredibly slim. Even minor mistakes can significantly impact the bottom line, open doors to fraudulent transactions, and lead to inaccuracies in financial statements. Moreover, the surge in sophisticated frauds targeting accounts payable departments has heightened the risks, with many organizations suffering substantial financial losses. This precarious environment demands that professionals running accounts payable functions be equipped with the most advanced business intelligence and strategies to maintain an effective, regulatory-compliant operation.
This intensive webcast CPE course is designed to arm participants with the essential skills and knowledge to navigate the complex challenges in accounts payable. It covers understanding the repercussions of neglecting accounts payable functions, pinpointing issues created by poor practices, and implementing robust internal controls. The course goes further to establish a framework for best practice in accounts payable processes, identify and eliminate worst practices, and stay ahead of emerging frauds, particularly those intensified during the COVID era. Additionally, it offers innovative strategies to uncover hidden financial resources within accounts payable processes without compromising supplier relationships, turning potential vulnerabilities into financial advantages for your organization.
Upon completing this course, participants will be able to:
- Understand the problems that will arise when the accounts payable function is ignored;
- Pinpoint the issues poor practices create;
- Implement appropriate internal controls around the accounts payable function;
- Create a best practice accounts payable process;
- Identify and eliminate worst practices in the accounts payable function;
- Identify potential new frauds, including those that emerged during COVID;
- Take the necessary steps to prevent a crook from succeeding;
- Educate your staff (and management) about the newest threats;
- Recognize when information is being requested fraudulently; and
- Find cash that is hidden in your accounts payable processes.
December 23, 2022
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
Mary S. Schaeffer, MBA, has the inimitable ability to find accounts-payable-related solutions that really work—without making a major dent in the bottom line. Armed with a degree in math and a graduate degree in finance, she takes a “roll up your sleeves and dig into the details” approach to finding solutions to those problems that cause migraines for CFOs, controllers, and managers. Fifteen years spent researching and writing about payment issues gives Mary a unique vantage point. Combine that with an almost equal amount of time spent in the corporate trenches of several large finance and treasury departments, and you’ll understand …