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Course Details

Vendor Issues in Accounts Payable (Course Id 527)

QAS / Registry   Add to Cart 
Author : Mary S Schaeffer, MBA
Status : Production
CPE Credits : 4.0
IRS Credits : 0
Price : $39.95
Passing Score : 70%
Primary Subject-Field Of Study:

Accounting - Accounting and Auditing for Course Id 527

Description :

Vendor issues in an effective accounts payable function are often ignored. This is unfortunate because poor controls around the master vendor file, the way data is entered and the lack of rigid internal controls all play a key role in preventing fraud and duplicate payments. And, it’s not as easy as you might think. There are numerous details, which if ignored, can cause problems whose impact is felt directly in the bottom line. Industry expert Mary Schaeffer delves into this material revealing where the problems are and what every organization should be doing to minimize, if not eliminate, the impact of these issues.

Usage Rank : 0
Release : 2013
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE)
Revision Date : 19-Feb-2013
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 - NASBA Registry - 527

Keywords : Accounting, Vendor, Issues, Accounts, Payable, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

    • Pinpoint problems that are likely to occur when vendor issues are not addressed in accounts payable
    • Integrate the impact of current event changes into the ongoing accounts payable practices
    • Identify issues related to proper and improper segregation of duties as they relate to the master vendor file
    • Integrate the issues of ownership of the master vendor file into the decision on where responsibility for it should lie
    • Delineate issues related to proper and improper segregation of duties as they relate to the master vendor file
    • Understand the necessity of regularly cleansing the master vendor file
    • Integrate use of TIN Matching program into the vendor set-up routines
    • Understand the problems that can arise if games are played with TIN Matching and how to avoid them
    • Avoid problems created when vendor contact information is not collected and/or updated
    • Integrate controls into accounts payable process to prevent phony e-mails from causing payment fraud
    • Identify problems created when vendor credits are not identified and recovered on a regular basis
    • Develop practices to include open credit recovery in the regular accounts payable process
    • Pinpoint problems that may occur if new vendors are not verified before being set up in the master vendor file
    • Create procedures to collect data needed to evaluate critical vendors
    • Identify ways to improve vendor relations
    • Understand the true motivation behind vendor calls for payment information and integrate that into your responses
    • Implement best practices that will help weed out fraudulent invoices
    • Identify master vendor file issues related to one-time vendors

Chapter 1
Background

    • Understand issues related to vendor activity in accounts payable
    • Pinpoint problems that are likely to occur when vendor issues are not addressed in accounts payable

Chapter 2
Current Events Impact

    • Integrate the impact of current event changes into the ongoing accounts payable practices
    • Identify problems likely to occur if the potential for fraud is ignored in accounts payable

Chapter 3
The Master Vendor File

    • Identify issues related to proper and improper segregation of duties as they relate to the master vendor file
    • Integrate the issues of ownership of the master vendor file into the decision on where responsibility for it should lie

Chapter 4
Data in the Master Vendor File

    • Delineate controls needed around the master vendor file
    • Recognize the relationship between controls and best practices as they relate to the master vendor file

Chapter 5
Data Entry in the Master Vendor File

    • Identify where problems occur when data entry isn’t handled using a rigid coding standard
    • Understand the necessity for a regular cleansing of the master vendor file

Chapter 6
Vendor Taxpayer Identification Number (TIN) Issues

    • Integrate use of IRS’ TIN Matching program into the vendor set-up routines
    • Understand the problems that can arise if games are played with TIN Matching and how to avoid them

Chapter 7
Vendor Contact Information

    • Avoid problems created when vendor contact information is not collected and/or updated
    • Integrate controls into accounts payable process to prevent phony e-mails from causing payment fraud

Chapter 8
The Vendor Credit Issue: A Bigger Problem Than Most Imagine

    • Identify problems created when vendor credits are not identified and recovered on a regular basis
    • Develop practices to include open credit recovery in the regular accounts payable process

Chapter 9
Handling New Vendors

    • Create best practice routines to set up new vendors
    • Pinpoint problems that may occur if new vendors are not verified before being set up in the master vendor file

Chapter 10
Critical Vendors: Ensuring They’ll Be There When You Need Them

    • Create procedures to collect all information needed to evaluate critical vendors
    • Figure out where responsibility for evaluating critical vendors should lie

Chapter 11
Vendor Relations

    • Identify ways to improve vendor relations
    • Understand the true motivation behind vendor calls for payment information and integrate that into your responses

Chapter 12
Vendor Fraud

    • Identify clues that will help identify potentially fraudulent invoices
    • Implement best practices that will help weed out fraudulent invoices

Chapter 13
Other Vendor Issues

    • Identify master vendor file issues related to one-time vendors
    • Propose alternative strategies for dealing with vendors who refuse to mail invoices
Course Contents :

Chapter 1: Background

Chapter 2: Current Events Impact

Chapter 3: The Master Vendor File

Chapter 4: Data in the Master Vendor File

Chapter 5: Data Entry in the Master Vendor File

Chapter 6: Vendor Taxpayer Identification Number (TIN) Issues

Chapter 7: Vendor Contact Information

Chapter 8: The Vendor Credit Issue

Chapter 9: Handling New Vendors

Chapter 10: Critical Vendors: Ensuring They’ll Be There When You Need Them

Chapter 11: Vendor Relations

Chapter 12: Vendor Fraud

Chapter 13: Other Vendor Issues

Glossary

Accounting Course 527 Home: https://www.cpethink.com/qas-cpa-courses
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