Course Description
This comprehensive 5-day training course is designed to equip participants with the knowledge and skills necessary to excel as Certified Accounts Payable Specialists. The program covers essential AP processes, best practices, and industry standards, providing a solid foundation for professionals in the field.
Learning Objectives
- Master the end-to-end accounts payable process
- Implement effective internal controls and fraud prevention measures
- Optimize vendor management and invoice processing
- Utilize technology to streamline AP operations
- Understand regulatory compliance and reporting requirements
- Develop strategies for improving AP efficiency and accuracy
Course Modules
Day 1: Introduction to Accounts Payable
- Overview of the AP function and its role in organizations
- Key terminology and accounting principles
- The procure-to-pay cycle
- AP best practices and industry standards
Day 2: Invoice Processing and Management
- Types of invoices and their characteristics
- Invoice validation and three-way matching
- Exception handling and dispute resolution
- Automated invoice processing systems
Day 3: Vendor Management and Payment Processes
- Vendor master file maintenance
- Payment terms and early payment discounts
- Payment methods and electronic funds transfer
- Foreign currency transactions and exchange rates
Day 4: Internal Controls and Fraud Prevention
- Segregation of duties and approval workflows
- Common AP fraud schemes and red flags
- Implementing effective internal controls
- Audit trails and documentation requirements
Day 5: Technology, Reporting, and Compliance
- AP automation and emerging technologies
- Key performance indicators (KPIs) for AP
- Financial reporting and month-end close processes
- Regulatory compliance (e.g., SOX, 1099 reporting)
Practical Wins for Participants
- Ability to implement best practices to improve AP efficiency
- Skills to detect and prevent fraud in AP processes
- Knowledge to leverage technology for streamlined operations
- Expertise to ensure compliance with regulations and reporting requirements
Credits: 5 credit per day
Course Mode: full-time
Provider: Blackbird Training Centre
