prospen.co.za

ProspenAfrica | Training and Consulting Services Provider

2 Day Training

Dates: 17 – 18 April | 08 – 09 May 2024
Locations: Johannesburg, South Africa
Platform: Available In-Class / Online

Price: Available on request

This is a Non-accredited Course

Course Introduction

This comprehensive 2-day course equips professionals with advanced knowledge and techniques to manage Accounts Payable (AP) effectively. Through a mix of theory, best practices, and practical Excel applications, delegates will learn how to optimize AP processes, enhance cash flow management, and contribute to the overall financial health of their organizations.

Course Objectives

After attending this Accounts Payable: From Accounting to Management Participants will learn to:

  • Understand the strategic importance of AP and its impact on working capital.

  • Implement efficient AP controls and management strategies.

  • Develop and use KPI dashboards for real-time AP monitoring.

  • Enhance team motivation and engagement within the AP department.

  • Apply international best practices to continuously improve AP performance.

  • Gain proficiency in using Excel for AP management.

Organizational and Personal Impact:

  • Enhanced understanding of AP’s role in financial success.

  • Adoption of global best practices.

  • Improved financial process integration.

  • Professional development of AP personnel.

  • Strengthening the talent pool for succession planning.

  • Streamlined AP processes for cost and time savings.

Who should attend?

  • Finance Executives

  • Accountants

  • AP Managers, Supervisors, and Staff

  • Professionals involved in AP processes

  • Those looking to enhance their professional toolkit in AP management

Training methodology

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

Day 1: Fundamentals of Accounts Payable and Financial Management

Morning Session: Understanding Accounts Payable

  • Introduction to the Accounts Payable Function

  • Role and importance in organizational financial health

  • Impact on working capital and cash flow management

  • Accounts Payable in the Organizational Structure

  • Functions and management roles

  • The relationship between AP, procurement, and treasury

Afternoon Session: Accounting Essentials and Controls

  • Core Accounting Principles for AP

  • Understanding AP terminology and accounting cycles

  • Managing month-end accounting entries, accruals, and reconciliations

  • Enhancing Controls and Fraud Prevention

  • Implementing robust internal controls

  • Fraud detection techniques in AP

  • The role of annual audits and AP outsourcing

Day 2: Best Practices in Management and Excel Utilization for AP

Morning Session: Best Practices and Organizational Impact

  • Applying Global Best Practices in AP

  • Case studies of successful and unsuccessful AP strategies

  • Benchmarking and continuous improvement

  • Motivation and Departmental Efficiency

  • Techniques to motivate and engage AP staff

  • Effective communication strategies and dispute resolution

Afternoon Session: Technological Proficiency in AP

  • Excel Skills for Accounts Payable Management

  • Interface between AP systems and Excel

  • Utilizing pivot tables and data analysis tools

  • Creating and Using AP Dashboards

  • Designing a dashboard to track AP KPIs

  • Analysing AP aging reports for decision-making

Course Conclusion:

  • Summary and wrap-up

  • Q&A session

  • Action plan for implementing learned skills and strategies

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