An Effective Accounts Payable Policy and Procedures Manual - v12 (Course Id 2084)

Accounting - Accounting for Course Id 2084

Effective policies and procedures in the Accounts Payable function is critical for any organization wishing to reduce or eliminate duplicate payments, prevent and detect fraud, be cost effective and compliant with all regulatory issues affecting the payment function. The first step in that battle is having a current, detailed policy and procedures manual. This course presents information the professional can use to create an effective manual, that not only documents the organizations policies and procedures, can be used as a reference and training guide. Industry expert Mary Schaeffer shows auditors, controllers, and managers how to create such a manual when none exists. She also includes an outline for a sample policy as well as a checklist they can use to determine if their current policy is best practice or something less. 

NASBA QAS - Text - Technical - NASBA Registry - 2084

Course Learning Objectives

• Pinpoint reasons an up-to-date accounts payable policy and procedures manual is needed
• Demonstrate how an accounts payable policy and procedures manual strengthens controls
• Show how to create a policy and procedures manual
• Demonstrate several ways to start creating a manual from scratch
• Demonstrate how to use the manual to address the rush check problem
• Identify several short cuts to use when creating a policy and procedures manual
• Delineate the segregation of duties requirements for the accounts payable function for inclusion in the policy and procedures manual
• Show how computer access levels may circumvent segregation of duties requirements
• Prepare an action plan to review and update an old policy and procedures manual
• Identify often-overlooked changes that will improve accounts payable procedures

Chapter 1
The Role an Accounts Payable Policy and Procedures Manual Plays

• Identify reasons an up-to-date accounts payable policy and procedures manual is needed
• Demonstrate how an accounts payable policy and procedures manual strengthens controls

Chapter 2
Creating the Manual

• Show how to create a policy and procedures manual
• Demonstrate several ways to start creating a manual from scratch

Chapter 3
Using the Manual

• Show how to use the manual to address the rush check problem
• Identify several short cuts to use when creating a policy and procedures manual

Chapter 4
The Segregation of Duties Issue

• Delineate the segregation of duties requirements for the accounts payable function for inclusion in the policy and procedures manual
• Show how computer access levels may circumvent segregation of duties requirements

Chapter 5
Reviewing and Updating Your Policy and Procedures

• Prepare an action plan to review and update an old policy and procedures manual
• Identify often-overlooked changes that will improve accounts payable procedures

Preface

Chapter 1: The Role an Accounts Payable Policy and Procedures Manual Plays

            Why a Policy and Procedures Manual Is Needed  

            The Policy and Procedures Manual from a Control Standpoint

            Including a Flowchart Is Not a Bad Idea

            What about a Remote Work Policy

            Review Questions

 Chapter 2: Creating the Manual

            No Policy and Procedures Manual?  Three Ways to Get Started

            A Straightforward Plan to Update the Accounts Payable
            Policy & Procedures Manual

            Review Questions

Chapter 3: Using the Manual

            Teaching an Old Dog New Tricks: 5 Tips to Enforcing Policy Changes 

            Tips for Creating A User-Friendly Accounts Payable Policy and Procedures Manual

            How the Manual Can Help Solve the Rush Check Problem 

            Review Questions

Chapter 4: The Segregation of Duties Issue

            Don’t Overlook Segregation of Duties Requirements

            Segregation of Duties:  How Much Access Do Your Employees Really Have?

            Six Common Procedures that Enable Internal Check Fraud: Fix Them with Your Policy

            Review Questions

Chapter 5: Reviewing and Updating Your Policy and Procedures

            Updating Your Accounts Payable Policy and Procedures Manual

            Five Often-Overlooked Practices that Should be Incorporated into Your Policies            

            Review Questions

Appendices

Diagnostic: How Good Is Your Policy and Procedures Manual? 

A Discussion of the Best Practice Responses to the Diagnostic

Sample Outline for an Accounts Payable Policy and Procedures Manual 

Glossary