Accounting Processing Best Practices

Internal Controls in Accounts Payable: Part I

Course Overview
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, Part I of a two-part series, 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.

Copyright © 2014 Mary S. Schaeffer. All rights reserved. No portion of this material may be reprinted, reproduced, transmitted, stored in a retrieval system, or otherwise utilized, in any form or by any means, electronic or mechanical, including photocopying or recording, now existing or hereinafter invented, nor may any part of this course be used for teaching without written permission from Mary S. Schaeffer.

Learning Objectives:

After completing this course, participants should be able to:
  • Detect problems likely to occur as a result of weak controls
  • Identify poor accounts payable practices that weaken controls
  • Locate problems created when segregation of duties are not set up correctly
  • Identify internal control practices every organization should use to deter fraud
  • Recognize how poor controls make duplicate payments more likely to occur
  • Pinpoint places where internal controls commonly breakdown in the accounts payable function
  • Locate places where purchase orders cause control problems
  • Recognize how best practice invoice control practices improve the processing function
  • Recognize how control issues can fall apart in the accounts payable function in the month-end and year-end close

  • Prerequisites/Advanced Preparation:


    Speaker / Author:

    Mary S. Schaeffer is editorial director of CRYSTALLUS, Inc., which publishes the Accounts Payable Now & Tomorrow newsletter and the e-zine e-AP news. After working in the finance and treasury departments of several large companies for 15 years, she turned to writing and consulting full time. She is the author of 17 business books, including 101 Best Practices for Accounts Payable, is a nationally recognized accounts payable expert and consultant and a frequent speaker at seminars, conferences and online events. She is the creator of the Institute of Financial Operations Accounts Payable Innovation Certificate program and several self-study courses for CPAs. Mary Schaeffer has a B.S. in Math from York College and a M.B.A. in Finance from New York University. She is a member of the Authors Guild and the New York Financial Writers' Association.


    Price (USD)

    Standard: $99.80


    Course Code : 99SCH06-tx

    Release Date : 10/16/2014
    Expire Date : 02/28/2022
    Credits :
    CPE 4.00
    QAS 4.00

    Length : 3hr 20min
    Course Level : Overview
    Course Type : QAS Self-Study
    Passing Grade : 70%
    Format Type : eLearning
    Mobile Compatible
    Field Of Study : Accounting

    Theme : Accounting Processing Best Practices

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