This GLOMACS Accounts Payable training seminar 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.

The organisation of the accounts payable function and the management of the accounts payable role are of vital importance to the effective control of working capital and therefore cash flow. 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.

By attending this GLOMACS training seminar, delegates will understand:

• The importance of the accounts payable function with regard to its links with the supply chain and cashflow
• The integrated systems of purchase order processing, stock (inventory) control, purchase ledger, and cash payments, and their links with the general ledger
• How to effectively manage cash and working capital to reduce costs and improve cash flow
• The impact of risk and uncertainty on the business and its impact on accounts payable and cashflow
• How leading companies from across the globe are achieving best practice in Accounts Payable

At the end of this GLOMACS training course, you will learn:

• The importance of the accounts payable function with regard to its links with the supply chain and cashflow
• The integrated systems of purchase order processing, stock (inventory) control, purchase ledger, and cash payments, and their links with the general ledger
• How to effectively manage cash and working capital to reduce costs and improve cash flow
• The impact of risk and uncertainty on the business and its impact on accounts payable and cashflow
• How leading companies from across the globe are achieving best practice in Accounts Payable

This GLOMACS Accounts Payabale training seminar 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.

The organisation will gain through the development and application of capabilities and skills in key area of Accounts Payable management; specifically benefits will include:

• Improved awareness of key business performance measures
• Greater insights from global best practice
• Better integration of wider financial process, for example purchase order management and supplier payments
• Raised levels of professionalism in the Accounts Payable team
• Improved human talent pool for internal succession planning
• More effective AP processing and the potential to reduce operating costs and time in a key area for financial transaction processing

As a delegate you will:

• Have a clear understanding of how to manage Accounts Payable
• Be pro-active in seeking and finding approaches to improve process and efficiency within Accounts Payable
• Communicate the importance of improving Accounts Payable process and its role in improving working capital management to colleagues
• Learn the latest developments in best practice in Accounts Payable

This GLOMACS training programme is suitable to a wide range of professionals but will greatly benefit:

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

DAY 1

The Important Role of Accounts Payable (AP)

• The Meaning of Managing Accounts Payable
• The Functions of Management
• The Big Picture: Accounts Payable and the Financial Health of Organizations
• The Functions of Accounts Payable Department and Role of AP Staff
• Accounts Payable Impact on Working Capital and Cash Management

Accounting Essentials for Accounts Payable

• Accounts Payable Terminology
• General Ledger and Sub-Ledger
• Preparing for Month End Close and Accruals

DAY 2

Accounts Payable Processes and Best Practices

• Invoice Handling and Routing
• The Three Way Matching
• Methods of Payment Processing
• Maintaining the Vendor Master File
• Travel and Entertainment (T&E)
• Procurement Cards (P-Cards)
• Electronic Payment Options

DAY 3

Key Topics in Accounts Payable Management

• Operational Analysis and Benchmarking
• Continuous Process Improvement
• Developing Performance Metrics
• Applying Best Practices in your Organization
• Identifying Proper Internal Controls
• The Annual Audit as an Added Value
• Impact of AP Outsourcing
• Detecting Fraud in Accounts Payable
• Disaster Recovery Planning

DAY 4

The Behavioral Side of Managing Accounts Payable Department

• Improving the Image of AP Department
• Ways to Motivate AP Staff
• Organizing the AP Department
• Closing the Communication Gap
• Dealing with Internal and External Disputes
• Importance of Internal Customer Service
• Providing Customer Service to Vendors

DAY 5

Accounts Payable Department as a Real Business Partner

• When We Should Pay Our Suppliers
• Understanding Cost of Funds
• Evaluating Early Payment Discount
• Pros and Cons of Early / Late Payments
• Relationship with Treasury Department

The session concludes with a case study where participants will apply the learning topics of the week to resolve a major Accounts Payable failure in a company simulation.

GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.

In Association With

Oxford Management Centre

A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients

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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.

P.O. Box 74653, Dubai, United Arab Emirates
Tel : +971 - 04 - 425 0700, Fax : +971 (04) 425 0701, Email : info@glomacs.com