PROGRAM DETAILS

Introduction

A key to the success of the operational efficiency of any organisation is the financial management. An effective and efficient management and administration of the Accounts Payable Function is critical to contributing to both supplier relationship management, cash flow management and acting as the last line of defence in the risk management process of the organisation.

This seminar will look at the Accounts Payable Function from both a strategic and operational perspective, and also provide key guidelines to strengthen the Accounts Payable Function as part of an organisation’s key service function. In addition to the basics and fundamentals of Accounts Payable Management, the role will be enhanced by providing essential information to improve the organisation’s cash flow management, costing and pricing structure, working capital management and key information on supplier procurement and payments.

Delegates will be given skills and knowledge to apply practical methodologies for the Accounts Payable Function that will raise the bar, motivate the Accounts Payable Team and enhance their credibility in the finance function.

Learning Objectives

By attending this highly interactive and participative programme, delegates will gain:

• an holistic perspective of the Accounts Payable Function in the Business Model
• a realistic benchmark to measure the effectiveness of the Accounts Payable Function
• new insights from delegates in relation to practical experiences in the Accounts Payable Function
• a clearer understanding of the total Accounts Payable Process
• appreciation for the importance of risk management and internal controls in the Accounts Payable Function
• a framework to assess and upgrade existing Accounts Payable Function Policies and Procedures Manual
• understanding of credit risk
• confidence to deal with legal issues and dispute resolution in the Accounts Payable Function
• better recognition of the critical role of the Accounts Payable Function
• confidence to interact with internal customers and suppliers

Target Audience

 This seminar is designed for:

• All Professionals and Administrative Personnel in the Accounts Department and in the Accounts Payable Function
• Procurement Personnel
• Finance Professionals
• Internal Auditors, External Auditors and Risk Officers

The programme is designed to empower the above professionals, leaders and personnel to have a better understanding of the strategic and critical role of Accounts Payable in the Finance Function and the essential role the Accounts Payable Function plays in every organisation’s business model.

Training Methodology

This practical and results-oriented programme is based on the Adult Learning Concept. It incorporates short inspiring lectures and presentations, followed with structured practical case studies. Supplementing the presentation notes are PowerPoint slides to enhance learning with on-going discussions and action planning, and ample time for Q & A sessions. The total programme is motivational and inspirational within a friendly learning environment.

Program Content

 Day 1 – Accounts Payable Function and The Business Model

• Introduction and Industry Perspective
• The Business Model, Financial Management and Accounts Payable
• Importance of the Accounts Payable Function
• Accounts Payable Strategy, Mission and Goals
• Role of Accounts Payable in Business Success and Business Continuity
• Accounts Payable Credit Risk and Credit Rating

Day 2 – Accounts Payable Structure and Systems

• Accounts Payable Function Framework
• Accounts Payable Function Organogram
• Accounts Payable Function Literacy Test
• Accounts Payable Function Effectiveness Areas
• Accounts Payable Function Commitments and Objectives
• Accounts Payable Function Internal Meetings
• Accounts Payable Function Policies and Procedures Manual

Day 3 – Accounts Payable Process and Procurement

• Terms and Conditions of Sale versus Procurement Terms
• Contractual documentation, legal issues and disputes
• Accounts Payable checks and balances
• Big 4 Controls and Documentation
  • Authorisation and Authority levels and the Purchase Order
  • Quantity Assurance and the Goods Received Note (GRN)
  • Quality Assurance and Quality Management Systems (QMS)
  • Pricing and Valuation Assurance
• Management of Request for Credits

Day 4 – Accounts Payable Process and Payments

• Accounts Payable and Cash Flow Management
• Cost of Finance and Credit Terms
• Trade Discounts versus Settlement Discounts
• The Payment Process
• Accounts Payable Reconciliation Process
• Authorisation Process and Release of Payments
• The Payments Timetable
• Management of Returns and Credit Notes

Day 5 – Accounts Payable, Risk and Performance Management

• Accounts Payable Function and Good Corporate Governance
• Accounts Payable Function and Ethics
• Risks and Challenges facing the Accounts Payable Function
• Importance of Control Accounts
• Accounts Payable Function and Fraud Prevention
• Accounts Payable Function Due Diligence Audit
• Accounts Payable Function Charter
• Accounts Payable Function: Self-evaluation
• Accounts Payable Function and the Role of the Internal Audit
• The Way Ahead