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32 - AAU - Accounting and Financial Auditing


AAU 178 - Accounts Payables (AP) and Accounts Receivable (AR)

Code Start Date Duration Venue
AAU 178 22 August 2022 5 Days Istanbul Registration Form Link
AAU 178 11 September 2022 5 Days Online Registration Form Link
AAU 178 17 October 2022 5 Days Istanbul Registration Form Link
AAU 178 20 November 2022 5 Days Online Registration Form Link
AAU 178 12 December 2022 5 Days Istanbul Registration Form Link
Please contact us for fees

 

Course Description

Knowing the difference between accounts payable and accounts receivable is vital for small business owners who want to gain a better understanding of their accounting process. Staying on top of your accounts payable and accounts receivable is vital to the health of your business. It's true for small businesses processing a handful of transactions per day and for those handling hundreds. Accounts payable and accounts receivable go beyond tracking cash coming into and out of your business: They help you prevent unexpected expenses that could throw even the best budget off course.

Course Objectives

  • Demonstrate proficiency in both manual and automated Accounts Payable (AP) and Accounts Receivable (AR) accounting systems 
  • Learn the AR & AP cycle
  • Learn best practices applicable in both fields 
  • Learn how to prevent fraud and errors 
  • Learn multiple methods to increase your turnover and speed up collections

Who Should Attend?

  • Accounting managers
  • Accounts receivable specialists
  • CFO's
  • Business owners
  • Entrepreneurs
  • Anyone interested in implementing accounts receivable best practices

Course Details/Schedule

Day 1

  • Definitions of AR & AP
  • Kind of accounts that are payable/ receivable
  • The difference between ARs & APs
  • ARs & APs common features 
  • AR process automation
  • AR days formula
  • AR turnover formula
  • Managing a credit balance in AR

Day 2

  • The key to managing a successful AP department
  • How to create AP
  • AP process
  • Is AP an asset or a liability?
  • Days payable outstanding
  • Managing your AP process

Day 3

  • Technology in AP
  • Maintain financial journal systems
  • Master vendor files
  • Source documents
  • Errors and discrepancies
  • Enter transactions into journal system

Day 4

  • Conduct aged analysis of AR
  • AR Doubtful debts policies
  • Provision of AR Doubtful debts
  • AR reconciliation 

Day 5

  • Process payments for AP
  • Prepare statements for AR
  • Follow up outstanding accounts
  • Monitor and review credit terms
  • Maintain ARs & APs receivable systems