Optimal Accounting for Payables
Transform the accounts payable function by redesigning inefficient recording and payment processes. This course explains how traditional payables systems create unnecessary steps, and then introduces practical methods to streamline workflows and eliminate portions of the process altogether. You will also examine how these changes affect the month-end close, fraud risk, and the annual audit, enabling you to build a faster, more controlled, and more effective payables operation.
Format
PDF Course
Course Lists
Duration
1 Hour
Course Information
Author: Steven Bragg
Course Number: AC1119
Learning Objectives
- 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.
Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Accounting
Prerequisites: None
Advance Preparation: None
Latest Review Date: March 2025
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
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