Author : | Mary S Schaeffer, MBA |
Course Length : | Pages: 77 ||| Review Questions: 25 ||| Final Exam Questions: 26 |
CPE Credits : | 5.0 |
IRS Credits : | 0 |
Price : | $44.95 |
Passing Score : | 70% |
Course Type: | NASBA QAS - Text - NASBA Registry |
Technical Designation: | Technical |
Primary Subject-Field Of Study: | Accounting - Accounting for Course Id 526 |
Description : | Strong internal controls are key to any effective accounts payable function. Without such controls, fraud is easier to commit, duplicate payments increase and the function is not cost-effective. This course presents information the professional can use to identify control problems and implement strong controls. Industry expert Mary Schaeffer shows auditors, controllers, and managers where control issues are likely to occur, how to strengthen controls, and best practices for a control effective accounts payable function. |
Usage Rank : | 28333 |
Release : | 2013 |
Version : | 1.0 |
Prerequisites : | None. |
Experience Level : | Overview |
Additional Contents : | Complete, no additional material needed |
Additional Links : |
Internal Control Practices Accounts Payable UCSD Blink
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Advance Preparation : | None. |
Delivery Method : | QAS Self Study |
Intended Participants : | Anyone needing Continuing Professional Education (CPE) |
Revision Date : | 01-Mar-2024 |
NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
Approved Audience : | NASBA QAS - Text - NASBA Registry - 526 |
Keywords : | Accounting, Internal, Controls, Accounts, Payable, cpe, cpa, online course |
Learning Objectives : |
Course Learning Objectives
Pinpoint problems likely to occur if strong controls are not used in accounts payable Delineate problems created when segregation of duties are not set up correctly Demonstrate the interaction between fraud and internal controls Reveal internal control practices every organization should use to deter fraud Identify weak control practices that dont curtail duplicate payments Show how poor controls make duplicate payments more likely Pinpoint places where internal controls most commonly breakdown in the accounts payable function Locate places where purchase orders cause control problems Identify common purchase order problems and solutions to fix them Establish how best invoice control practices improve processing Recognize invoice automation control issues as they arise Be aware of how control issues can fall apart in the accounts payable function in the month end and year end close Implement the proper controls around the check production process Demonstrate why signature stamps represent a poor control and can cause your organization big problems Identify poor controls related to check request forms Identify controls that should be incorporated into every corporate procurement program Reveal best fraud control strategies for your p-card program Demonstrate why daily bank reconciliations are so important even if electronic payments are not being made Shows how a good policy and procedures manual can strengthen internal controls Chapter 1
Pinpoint problems likely to occur if strong controls are not used in accounts payable Chapter 2
Identify real-life issues that arise due to poor internal controls Chapter 3
Reveal internal control practices every organization should use to deter fraud Chapter 4
Show how poor controls make duplicate payments more likely to occur Chapter 5
Reveal reasons controls sometimes fail Demonstrate how an accounts payable policy and procedures manual strengthens controls Chapter 6
Identify common purchase order problems and show how they can be fixed Chapter 7
Demonstrate how best invoice control practices improve the processing function Chapter 8
Be aware of how control issues can fall apart in the accounts payable function in the month end and year end close Chapter 9
Demonstrate why signature stamps represent a poor control and can cause your organization big problems Chapter 10
Demonstrate why bank reconciliations have to be done on a very timely basis Chapter 11
Reveal best fraud control strategies for your corporate procurement card program Chapter 12
Demonstrate why daily bank reconciliations are so important even if electronic payments are not being made Chapter 13
Demonstrate why updating the policy and procedures manual on a regular basis strengthens internal controls |
Course Contents : | Introduction Chapter 1: The Basics of Internal Controls: Theory Chapter 2: The Basics of Internal Controls: In Practice Chapter 3: Fraud Prevention Controls and Practices Chapter 4: Internal Controls and Duplicate Payments Chapter 5: Where Internal Controls Break Down Chapter 6: Purchase Orders and Their Role in Internal Controls Chapter 7: Invoice Processing: The Core of the Accounts Payable Function Chapter 8: Invoice Related Issues Chapter 9: When Paying by Check: The Internal Control Migraine Chapter 10: Check Related Issues Chapter 11: Corporate Procurement Cards Chapter 12: Electronic Payment Alternatives Chapter 13: The Policy and Procedures Manual: Tying It All Together Glossary |