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An Intensive 5 Day Training Course

Accounts Payable: From Accounting to Management

Planning, Organizing and Achieving Best Practices

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We currently have no scheduled session for this Finance & Accounting Training Course. If you are interested in running this course, please contact our Training Department at info@petroknowledge.com


Why Choose this Training Course?

The management of the accounts payable (creditors) of an organisation is essentially just one aspect of the management of the cash flow of that organisation. Since organisations cannot survive without adequate cash flows, it follows that the management of accounts payable is a vital aspect of cash flow management.

This training course provides businesses and other organizations with a strong sense of where they stand against industry leaders and shows them how to take their services and organizational processes to state of the art levels. Documented strategies and tactics employed by highly admired companies are presented, both successful and unsuccessful, to illustrate the real world functionality of each process and approach.

This training course will feature:


Training Objectives click here

What are the Goals?

By the end of this training course, participants will be able to:

  • Work effectively with the fundamentals of accounts payable, financial accounting and the supply chain
  • Understand and apply the fundamentals of accounts payable systems
  • Review and comment on payment methods and cash management
  • Analyse the need to incorporate risk and uncertainty into accounts payable analysis
  • Identify best practice across all industries

Target Audience click here

Who is this Training Course for?

This PetroKnowledge training course provides a user-friendly environment to develop the knowledge and techniques related to accounts payable that are valuable for:

  • Finance Executives and Professionals
  • Accountants
  • Accounts Payable Supervisors
  • Accounts Payable Personnel
  • Others who are working within accounts payable process or who wish to develop a practical toolkit to complement their existing professional or technical skills

Training Methods click here

How will this Training Course be Presented?

This training course will provide the theoretical background and techniques that underpin the organisation and management of accounts payable and its related functions. It will provide a real world practical context by incorporating worked examples and case studies that delegates will see how theory applies in practice and can discuss the various issues raised.

Daily Agenda click here

Day One: Accounts Payable, Financial Accounting and the Supply Chain

Competency Description: Anyone working within the Accounts Payable function will need a good understanding of the broader financial framework in which they operate.

Key behaviours:

  • Define the accounting context of the Payables function
  • Understand the importance of good working capital management
  • Recognise the principals of supply chain management

Topics to be covered:

  • Accounting and financial information: Accounts Payable in context
  • Sources of finance
  • The supply chain
  • Financial position and financial performance
  • Cash flow and Working Capital
  • Why is cash flow so important?

 

Day Two: Achieving World Class in Accounts Payable Processes

Competency Description: Participants must understand the process and the definitions and aspirations of “best practice”.

Key behaviours:

  • Define the concept of Best Practice
  • Challenge established processes
  • Identify risk areas in AP and potential for process improvement

Topics to be covered:

  • Defining Best Practice in AP
  • Moving beyond P2P
  • Managing Risk
  • Principles of Best Practice
  • End to End AP Process
  • Defining the issues in Accounts Payable

 

Day Three: Improving Invoice Processing and Operational Management

Competency Description: Analysing the key elements of the Accounts Payable process to identify opportunities for improvement.

Key behaviours:

  • Challenge established processes
  • Identify cost drivers and end-to-end process costs

Topics to be covered:

  • Invoice Handling and Approval Processes
  • Verifying invoice data
  • Paying “low value” items
  • How to avoid duplicate payments
  • Making the best use of staff time: limiting telephone calls to AP
  • Does Petty cash management belong in Accounts Payable?

 

Day Four: Harnessing Technology in Accounts Payable Processes

Competency Description: Considering the use of new technology and how it can be used to improve or eliminate current processes.

Key behaviours:

  • Identify opportunities afforded by the introduction of latest technology
  • Challenge existing processes in the search for “best value”

Topics to be covered:

  • Master Vendor File Management – getting it right from the start
  • Travel & Entertainment
  • Policy management
  • Cash advances and employee reimbursement
  • Process improvement through imaging and workflow
  • Using the internet for AP effectiveness

 

Day Five: Making the Payments and Maintaining the Relationships

Competency Description: Understanding the role of customer service management within the Accounts Payable.

Key behaviours:

  • Recognise the value of good communications in AP
  • Apply the lessons of the program in a practical case study

Topics to be covered:

  • Communications & Customer Relations
  • Payments status information for vendors and internal customers
  • Improving Procure to Pay(P2P)Cycle
  • Payments and Payment Solutions: Accounts Payable or Treasury?

 

The course will conclude with an interactive case study exercise to allow participants an opportunity to apply the learning of the week and define a practical solution.

Related Courses click here


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Home » Courses » Finance & Accounting » Accounts Payable: From Accounting to Management
PetroKnowledge Training


Accounts Payable: From Accounting to Management
Planning, Organizing and Achieving Best Practices


Code Date Venue Fees



Why Choose this Training Course?

The management of the accounts payable (creditors) of an organisation is essentially just one aspect of the management of the cash flow of that organisation. Since organisations cannot survive without adequate cash flows, it follows that the management of accounts payable is a vital aspect of cash flow management.

This training course provides businesses and other organizations with a strong sense of where they stand against industry leaders and shows them how to take their services and organizational processes to state of the art levels. Documented strategies and tactics employed by highly admired companies are presented, both successful and unsuccessful, to illustrate the real world functionality of each process and approach.

This training course will feature:


Training Objectives

What are the Goals?

By the end of this training course, participants will be able to:

Target Audience

Who is this Training Course for?

This PetroKnowledge training course provides a user-friendly environment to develop the knowledge and techniques related to accounts payable that are valuable for:

Training Methods

How will this Training Course be Presented?

This training course will provide the theoretical background and techniques that underpin the organisation and management of accounts payable and its related functions. It will provide a real world practical context by incorporating worked examples and case studies that delegates will see how theory applies in practice and can discuss the various issues raised.

Daily Agenda

Day One: Accounts Payable, Financial Accounting and the Supply Chain

Competency Description: Anyone working within the Accounts Payable function will need a good understanding of the broader financial framework in which they operate.

Key behaviours:

Topics to be covered:

 

Day Two: Achieving World Class in Accounts Payable Processes

Competency Description: Participants must understand the process and the definitions and aspirations of “best practice”.

Key behaviours:

Topics to be covered:

 

Day Three: Improving Invoice Processing and Operational Management

Competency Description: Analysing the key elements of the Accounts Payable process to identify opportunities for improvement.

Key behaviours:

Topics to be covered:

 

Day Four: Harnessing Technology in Accounts Payable Processes

Competency Description: Considering the use of new technology and how it can be used to improve or eliminate current processes.

Key behaviours:

Topics to be covered:

 

Day Five: Making the Payments and Maintaining the Relationships

Competency Description: Understanding the role of customer service management within the Accounts Payable.

Key behaviours:

Topics to be covered:

 

The course will conclude with an interactive case study exercise to allow participants an opportunity to apply the learning of the week and define a practical solution.

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© 2018. Material published by Petroknowledge shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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© 2018. Material published by Petroknowledge shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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