Accounts Payables Internal Controls Best Practices

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Carl Young

Speaker: Carl Young

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Banking and Finance Webinar Image
Date
26 September, 2022 (Monday)
Time
10:00 AM PDT | 01:00 PM EDT
Duration
60 Minutes

Overview

Examines internal controls in a paperless account's payable environment. Focuses on foundation & core principles, and best processing practices, using technology as an enabler.

  • The overall philosophy is an ounce of prevention worth a pound of cure
  • Accounts Payables is the core company process that touches all others
  • Conversion of Accounts Payables steps & functions to processes will reduce engagement time and thus improve profits
  • Paperless environments exist in all quarters and must be understood and employed in processes like accounts payables
  • Organizational and functional awareness provide key best practices in a paperless environment

Area Covered

  • Why target Accounts Payables? It is the core of all other administrative processes
  • The institutional framework of Accounts Payables
  • Comparison of manual steps/functions to electronic paperless processes
  • Internal Control foundation and core principles
  • Best accounts payables processing practices in a paperless environment
  • Best Practices for interactions and interfaces with other relevant activities
  • The use of technology as an enabler to accounts payables best practices
  • Some organizational and functional awareness best practices
  • Summary view of paperless accounts payables environment vs. manual environment

Why Should You Attend

  • Change for the paper to paperless and fear of loss of process control
  • Inherent resistance to change
  • Ability to verify & reconcile data in a paperless environment due to lack of paper trail
  • The learning curve of new paperless processes
  • Support at all levels with the new paperless process
  • Understand the advantages of a paperless account's payables environment 
  • How to convert from paper-driven steps & functions to fully automated paperless processes
  • Reduce time of engagement in processes to improve profits & productivity

Who Will Benefit?

  • Accounts Payables Personal i.e. Specialist
  • Supervisors
  • Managers
  • Accounting Managers
  • Controllers
  • CFO's
  • Internal Auditors
  • Accounting Personnel
  • Cash Control & Treasury Personnel

Speaker

Carl Young is an Author, Speaker, Trainer, Consultant, and Coach. He holds a MBA and completed graduate studies in Accounting and Taxation. He is a former CFO of a 275M, high growth technology based company. He has over 25 years of senior level business management experience. In addition, he has over 25 years of training experience in finance, accounting and business management. Former CEO of his own small parts manufacturing company as well as former Senior Financial Associate of major consulting firm. Carl is a member of the following organizations: American Society of Corporate Controllers, Council of Experts (investment firm Gersen & Lehrman), Society of Industry Leaders (sponsored by Standard & Poors), and the National Association of Accountants. An engaging and entertaining speaker and trainer who draws from his experience as a former CFO to make relevant teaching points. Sessions are rich in content, lively, full of energy and include plenty of audience interaction. He has branded himself as Mr. Simplicity! His goal is to make finance and accounting relevant to non-financial professionals using tools and techniques that are simple to understand and apply.

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