Accounts Receivable Best Practices for Small to Medium Sized Commercial Entities (Course Id 557)

This course reviews best practices in the accounts receivable function of small to medium commercial entities as it relates to invoicing and pricing. It also focuses on credit best practices including credit evaluation, use of Z Score and other ratios and methods to secure customer payment when open ended credit is deemed too risky. Collection best practices are explored including those related to account reconciliation. Payment application, internal controls and available banking technology are also reviewed.

This course is appropriate for any CPA who has a beginning to moderate degree of familiarity with the accounts receivable function.

Course Learning Objectives

• Associate the importance of the billing, pricing and credit memo process to accounts receivable best practices
  
• Differentiate customer credit evaluation techniques
  
• Define and use the Altman Z score and other ratios in evaluating customers
  
• Recognize non-traditional methods to secure customer payment
  
• Recognize best practices of the collection function
  
• Associate the importance of internal controls with the payment application function