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Finance and Accounting Seminars


Managing the Cash Cycle: Accounts Receivable & Payable Best Practices


REF: F2063  DATES: 11 - 22 Nov 2019  VENUE: London (UK)  FEE: 6750 

Overview:

This is programme will provide a leading edge forum for you to significantly improve your working capital management skills. You will gain a comprehensive range of very practical and highly effective tools and approaches that can be immediately implemented upon your return to work.

By attending this event, delegates will understand:

  • The importance of credit to the company and the economy.
  • The “cost of credit” and its impact on company profitability.
  • Practical steps that reduce bad debt losses and “uncollectible” debtors.
  • How to use different tools and techniques to maximize cash collection effort.
  • How to effectively manage cash and working capital to reduce costs and improve cash flow.
  • How leading companies from across the globe are achieving best practice in Accounts Receivable.
  • The importance of the accounts payable function with regard to its links with the supply chain and cash flow.
  • 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 cash flow.
  • How leading companies from across the globe are achieving best practice in Accounts Payable.

 WHO SHOULD ATTEND?

This programme provides a user-friendly environment to develop the knowledge and techniques related to both accounts receivable and accounts payable that are valuable for:

  • Finance Executives.
  • Accountants.
  • Others who are working within Transactional Finance, Accounts Payable or Accounts Receivable process or who wish to develop a practical toolkit to complement their existing professional or technical skills.

This programme is also ideal for those wishing to develop their understanding of how Working Capital efficiencies can make a significant improvement to profitability or you may already be employed in any of these functions within the business.

PROGRAMME OBJECTIVES:

  • Work effectively with the fundamentals of accounts payable, accounts receivable, financial accounting and the supply chain.
  • Understand and apply the fundamentals of effective transactional management systems.
  • Review and comment on payment methods and cash management.
  • Understand the need to incorporate risk and uncertainty into transactional processing and cashflow management.
  • Identify best practice across all industries by examining case studies from across the globe.

TRAINING METHODOLOGY:

The instructor engages all of the delegates, both in the presentation of the material and the programme sessions, so that everyone leaves with a working knowledge of the material and the ability to use them immediately.

PROGRAMME SUMMARY:

Working capital management influences both a firm’s risks and its expected returns. After completing this programme, you will be aware of the risk return trade-offs that are implied in financial forecasting, know the process of financial planning, the importance of managing cash inflows and outflows, how to finance short-term assets, and make the right decisions on financing and investment for your firm.

PROGRAMME OUTLINE:

DAY 1 - An introduction to Accounts Receivable:

  • Working Capital and Cash Management.
  • Understanding “the cost of credit”.
  • The ‘order to cash’ process.
  • Understanding “risk” in “credit”.
  • Accounts Receivable and effective customer service.
  • Identifying under-performing areas to increase customer satisfaction.

DAY 2 - Customers and trading terms:

  • Terms of trading.
  • Tools and techniques of financial analysis: ratios; trends; common size analysis.
  • The best performance measure – cash or profit?
  • Financial distress and the Altman’s Z score-type analyses.
  • Trend analysis.
  • Value added analysis of financial statement.

DAY 3 - Developing effective strategies to maximise cash collection:

  • Identifying effective “pre-delinquency” collection campaigns.
  • Defining “post-delinquency” activities.
  • Customer sensitive collection strategies.
  • Collection techniques and letter cycles.
  • Appropriate internal and external escalation steps.
  • Using work flow management to maximize collector performance.

DAY 4 - Practical collection tools and techniques:

  • Eliminating barriers to payment.
  • Recognizing excuses and delaying tactics.
  • Providing solutions to non-payment.
  • Telephone collection techniques.
  • Negotiation skills for successful collections.
  • Building relationships with customers.

DAY 5 - Managing the Receivables Ledger:

  • Developing effective internal relationships to maximize performance.
  • Setting targets and tracking performance.
  • Managing information that dazzles.
  • Defining meaningful KPI’s.
  • Latest Developments in Accounts Receivable.

DAY 6 - Accounts Payable, Financial Accounting and the Supply Chain:

  • Accounting and financial information: Accounts Payable in context.
  • Sources of finance.
  • The supply chain.
  • Financial position and financial performance.
  • Cash flow and Working Capital.
  • Why is cash flow so important?

DAY 7 - Achieving World Class in Accounts Payable Processes:

  • 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.

DAY 8 - Improving Invoice Processing and Operational Management:

  • Invoice Handling and Approval Processes.
  • Verifying invoice data.
  • Paying “low value” items.
  • How to avoid duplicate payments.
  • Making the best use of staff time: limiting telephone calls to AP.
  • Does Petty cash management belong in Accounts Payable?

DAY 9 - Harnessing Technology in Accounts Payable Processes:

  • Master Vendor File Management – getting it right from the start.
  • Travel & Entertainment.
  • Policy management.
  • Cash advances and employee reimbursement.
  • Process improvement through imaging and workflow.
  • Using the internet for AP effectiveness.

DAY 10 - Making the Payments and Maintaining the Relationships:

  • Communications & Customer Relations.
  • Payments status information for vendors and internal customers.
  • Improving Procure to Pay(P2P)Cycle.
  • Payments and Payment Solutions: Accounts Payable or Treasury?

The programme will conclude with an interactive case study exercise to allow participants an opportunity to apply the learning of the week and define a practical solution.

COURSE DATES
11 - 22 Nov 2019
COURSE REF
F2063
VENUE
London (UK)
COURSE FEE
6750 

COURSE REF: F2063

Managing the Cash Cycle: Accounts Receivable & Payable Best Practices

London (UK)

COURSE DATES: 11 - 22 Nov 2019
COURSE FEE: 6750 

BOOKING INQUIRY
 

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