Cash Flow Statement Workshop – Preparation and Analysis

Courses Syllabus

Introduction

The organisation of the accounts payable function and the management of the accounts payable role are of vital importance to the effective control of working capital and therefore cashflow.

This programme provides businesses and other organizations with a strong sense of where they stand against industry leaders and shows them how to take their services and organizational processes to state of the art levels.

Documented strategies and tactics employed by highly admired companies are presented both successful and unsuccessful to illustrate the real world functionality of each process and approach.

By attending this event, delegates will understand:

• The importance of the accounts payable function with regard to its links with the supply chain and cashflow
• The integrated systems of purchase order processing, stock (inventory) control, purchase ledger and cash payments and their links with the general ledger
• How to effectively manage cash and working capital to reduce costs and improve cash flow
• The impact of risk and uncertainty on the business and its impact on accounts payable and cashflow
• How leading companies from across the globe are achieving best practice in Accounts Payable

Objectives

• Work effectively with the fundamentals of accounts payable, financial accounting and the supply chain
• Understand and apply the fundamentals of accounts payable systems
• Review and comment on payment methods and cash management
• Analyse the need to incorporate risk and uncertainty into accounts payable analysis
• Identify best practice across all industries

Contents

Day One

ACCOUNTS PAYABLE, FINANCIAL ACCOUNTING AND THE SUPPLY CHAIN

The Accounting Environment

• Accounting and financial information
• Accounting terminology
• Sources of finance
• The supply chain
• Financial position and financial performance
• Cashflow and Working Capital
• Why is cashflow so important?
• The structure of the statement of cashflows

Day Two

ACHIEVING WORLD CLASS IN ACCOUNTS PAYABLE PROCESSES

Achieving Best Practice

• Defining Best Practice in AP
• Moving beyond P2P
• Managing Risk
• Principles of Best Practice
• End to End AP Process
• Defining the issues in Accounts Payable
• Invoice Handling
• Operational
• Master Vendor File Management
• Travel & Entertainment (T&E)
• Technology
• Communication

Day Three

IMPROVING INVOICE PROCESSING AND OPERATIONAL MANAGEMENT

Invoice Handling

• Dealing with Approvals
• Forwarding invoices
• Verifying invoice data
• Short paying invoices
• Paying “low value” items
• Identifying “Unidentified” invoices
• Handling invoices without invoice numbers
• Operational
• How to avoid duplicate payments
• Limiting telephone calls to AP
• Petty cash management
• Using Supplier statements

Day Four

HARNESSING TECHNOLOGY IN THE AP PROCESSES

Master Vendor File Management

• File setup  – getting it right from the start
• Naming conventions
• File maintenance and security issues
• Travel & Entertainment
• Policy management
• Cash advances
• Reporting forms
• Handling receipts
• Reservation management
• Employee reimbursement

Technology

• Imaging and workflow
• Using the internet for AP effectiveness
• Electronic invoicing

Day Five

MAKING THE PAYMENTS AND MAINTAINING THE RELATIONSHIPS

Communications & Customer Relations

• Payments status information for vendors
• Communicating relevant information to vendors
• Communicating with internal customers
• Improving Procure to Pay(P2P)Cycle

Payments and Payment Solutions

• Cheques
• Procurement Cards

Cash Management

• A case study exercise to allow participants an opportunity to apply the learning of the week and define a practical solution.