Self Study
Innovating AP Professional Development Certificate Program
Course Description
Obtain a certificate for expert facilitation in developing an efficient, fraud resistant regulatory compliant accounts payable process and distinguish yourself as a leader among your peers. The program is designed for professionals that are looking to elevate the effectiveness of their existing AP department as well as those that may be building a new department.
Simply attend six 90-minute web-based educational sessions followed by a comprehensive online knowledge assessment on the program content. Successful completion of the course will result in earning a professional development certificate that validates your industry knowledge of the subject.
Members: $549.00
Nonmembers: $649.00
| You must have an account with a username/password to access the self-study program. | |
| To sign into your existing account: | *To create a new account: |
Register Here | Register Here |
*Once you've completed your registration, click on the self-study link in the left navigation.
Session Descriptions
Part 1 – Innovating AP: The Fundamentals
Accounts payable is a many faceted function. Those coming into it—whether to work or manage—are often given little training and must "learn on the job." While there's nothing wrong with on-the-job training, and, in fact, a lot to recommend it, it's still crucial for career development that the foundations of the function be fully understood. That's why we've developed this special session. This event is designed to bring those who are new to the function up-to-speed as well as illustrate some of the finer points for those with tons of experience under their belt.
After this session, attendees will be able to:
- Review the basics of any AP function (invoice handling, checks, POs, rush checks, T&E, regulatory issues and fraud).
- Identify eight silly, easily-fixed mistakes often made in AP departments (with tips on how to avoid them).
- Differentiate between three problems that arise when PO best practices are not followed.
- Grasp the five often-overlooked ways rush checks cause problems.
- Explain why after-the-fact POs may make sense.
- Explore two alternatives to those awful paper checks.
- Avoid the AP black hole!
Part 2 – Innovating AP: The Underpinnings of an Efficient Function
Any AP process is held together by a number of components. A handful of them have a way of being ignored resulting in a less than efficient process. What's more, ignoring these issues often costs the organization in a huge way.
After this session, attendees will be able to:
- Set up the master vendor file with the right information and proper controls.
- Create a policies and procedures manual that will document and guide workflow.
- Track regulatory and banking information without creating privacy issues.
- Include appropriate privacy controls.
- Decide whether they want to regiment processors' desks and if so, how to do it.
Part 3 – Innovating AP: The Checks and Balances in Your Process
Poor controls are the root of most of the evils that lurk in the accounts payable function today. Whether or not your organization is subject to the strictures of Sarbanes-Oxley, weak controls will insidiously eat into your bottom line. Strong internal controls don't just happen; they are the result of astute analysis and structuring. In this session we'll walk you through the steps of the accounts payable process showing you how to tighten the internal controls in your own organization. Come prepared to think and take lots of notes.
After this session, attendees will be able to:
- Identify and fix internal controls that do not provide the protection your firm needs.
- Implement an effective segregation of duties platform across the accounts payable platform.
- Eliminate old best practices that no longer work in accounts payable replacing them with practices that protect the enterprise.
- Create a policy for sharing and communicating information with vendors that safeguards the organization against fraudsters.
Part 4 – Innovating AP: The People Component
Unfortunately, it's all too easy to forget the most important component of any well-managed accounts payable function, the people who do the work.
After this session, attendees will be able to:
- Understand where accounts payable fits in the big picture and what this means to staff.
- Run an accounts payable department with a customer service approach.
- Train staff.
- Build an accounts payable "dream team".
- Identify and acquire the other skills needed to excel at running or working in accounts payable.
Part 5 – Innovating AP: Don't Overlook the Specialty Functions
Without a doubt, not setting up the functions that have a regulatory component correctly causes more havoc for more accounts payable functions than almost anything else. These functions need to be set up correctly from the ground up.
After this session, attendees will be able to set up appropriate and regulatory compliant:
- Travel and entertainment reimbursement reporting.
- Collection of information needed to report to the IRS on independent contractor and nonresident alien payments.
- Reporting and remitting of unclaimed property to all the states.
- Monitoring and payment of appropriate sales and use taxes.
Part 6 – Innovating AP: The Finishing Touches to Make Your Function First Rate
With all the attention focused on accounts payable, it is critical that managers continue to look for ways to improve and advance the department. In this session, not only will we identify those issues for you, we'll provide guidance on how you can make sure your department implements them appropriately and effectively.
Specifically, we'll take a look at:
- Automation in accounts payable.
- The role accounts payable can play in cash flow management.
- The Web site – information that should and should not be shown.
- Fraud prevention and detection.
- Duplicate payment prevention and recovery.
- The future – where the function is going and what we need to do to prepare.