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ACCOUNTS PAYABLE TRAINING COURSE

CPE Credits Disclosure

Recommended CPE credit: 16 

Recommended field of study: Accounting
Program level: Intermediate.
Advance preparation: None

Additional disclosure information. ​ 

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Business Email Compromise

Social media platforms may have taken over as the most prevalent mode of communication, but email continues to be the preferred tool for business communication. Research conducted by The Radicati Group, a technology market research firm, predicts this love affair with email will result in explosive growth reaching 319.6 billion emails received and sent each day by 2021. It’s no wonder the piercing eyes of the cybercriminal have fixated on ways to compromise one of the essential business communication tools. 

What is Business Email Compromise (BEC)?
Spearphishing on steroids is how law enforcement officials like to think of BEC. Sometimes called man-in-the-middle attack or whaling its purpose is to deceive an organization’s personnel, primarily accounts payable, into handing over vast sums of money. 

Between October 2013 and December 2016, the FBI discovered there was over $5.3 billion lost to BEC scams globally. 


How Does Business Email Compromise Work?
BEC is a multi-component stealth exercise; just like most successful cyber attacks, and takes advantage of a blend of technology and the human factor. BEC can be broken down into four distinct phases: 

1. Profiling

BEC fraud starts with surveillance of a targeted company. BEC only works if the cybercriminal understands how the target thinks so this intelligence is required to jump the trust-barrier hurdle. Gathering intelligence usually includes spearphishing to acquire access to a system to harvest credentials or install malware. The information is then used to extract information and to obtain unauthorized access to executive schedules and calendars which enables the cybercriminal to construct a profile of the victim, frequently a high-level executive in the organization.

Cybercriminals do their homework to acquire a variety of information. When targeting a victim, they will research:

  • general information regarding the organization (for instance, where it does business and with whom).
  • management organizational structure to include titles and names of company officers.
  • information about new rounds of funding.
  • data about new services, products, and patents.
  • geographic or product expansion plans.
  • executive travel plans.


2. Playing-with-You

The information acquired when profiling the organization offers the cybercriminal an understanding of the hierarchy of the organization. 

Read more...

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What Accounts Payable Training Course Students Are Saying...​​​​​

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Any questions? Use the form below.
Accounts Payable Training Course
Average Rating: 4.5 out of 5 stars
Votes: 9
Reviews: 4

On the exercises, more true/false and multiple choice would be preferred.

M.H.

Company: Cepheid



Asking what the “student” would like to obtain/learn prior to the course helps the instructor to know what to cover, so the instructor did a great job with that!

S. B.

Company: Nascentia Health



Good knowledge and good material to take home.

E.J.

Company: Community Action Partnership, Lancaster and Saunders Counties



Very helpful and informative.

A.D.C.

Company: College of Registered Nurses of Manitoba

  • Learn industry recommended accounts payable procedures and best practices
  • Four ways to learn: public class, webinar, self-study, or on-site training
  • Learn from a professional with 30+ years of business experience
  • Public class and webinar limited to four students for maximum learning
  • Certificate issued upon completion
  • Cost: Two Day Class $1399.00  Available Discounts
  • The class schedule is in the right column

Accounts Payable Training Course Description

In this two-day Accounts Payable Training Course, students will learn industry best practices for collecting, filing, and processing invoices and making payments to vendors, customers, and other third-party companies, and how to make sure their department's payment accounts are reconciled, and bookkeeping entries are complete and accurate.  In addition, you will learn how to make your accounts payable department a totally paperless operation., and learn techniques to prevent payment fraud and business email compromise (BEC)(see article in right column). . 


The course presents best practices for the following critical AP functions: the master vendor file, invoice processing, checks, ACH payments, the policies and procedures manual, cash management, travel and entertainment policies, and processing 1099s.


In addition, the course provides industry recommended policies for: internal controls, payment strategies, and dealing with regulatory issues.

Registration 

Registering another Person

 If you want to register for another person, click on the registration link and enter your information in the Billing Information section, uncheck the Student Information same as Billing Information box at the bottom of the form, then enter your student information.  If you experience any difficulty with online checkout, please call customer service 24/7 at 888-632-2093.


Registering by Purchase Order 

If you need to register using a purchase order, email a copy to info@academyofbusinesstraining.com (be sure to list class name, class date, student name, student address, student phone number, and student email address).


To Register by Phone

To pay by credit or debit card using customer service 24/7 call 888-632-2093.

Each Student Receives:

  • A student manual or textbook for use during and after the class.
  • Instruction from an experienced business professional (minimum of 30 years) with at least five years in a corporate senior management position (CEO, President, COO, Vice President, CFO).
  • Real life exercises to support training materials.
  • Individual attention (classes are limited to four students).
  • Personalized Certificate of Completion

Accounts Payable Training course

IMPROVE YOUR ACCOUNTS PAYABLE SKILLS NOW

Accounts Payable Training Course Outline

Module 1: Master Vendor File

Who Has Access

Master Vendor File Set-Up

Using Naming Conventions

Making Changes to the Master Vendor File
Master Vendor File Cleanup

Self-Service Master Vendor Files

Module 2: Invoice Processing
Receipt of Invoices
Invoice Handling: Approvals 
Invoice Data Requirements 
Verifying Invoice Data
Invoice-Coding Standards

Module 3: Checks

Approach to Paying by Check
Check Printing
Check Signing
Check Stock Storage
Distribution of Checks
Check Fraud
Use of Payee Name Positive Pay

Module 4: ACH (Electronic Payments)

Approach to Paying Electronically 
Converting Vendors to ACH Payments
Handling Change of Bank Account Requests
Convincing Vendors to Convert
Handling Remittance Information

Module 5: Payment Strategy

Establishing an Overall Payment Strategy 
Paying Small-Dollar Invoices
A Rush or Emergency Payment Policy
Payments Made Outside Accounts Payable 
Basic Fraud Protection against ACH Fraud

Module 6: Policy and Procedures Manual

Use of the Manual
Creating an Accounts Payable Policy and

     Procedures Manual
Updating an Accounts Payable Policy

      and Procedures Manual
Access to the Accounts Payable Policy

      and Procedures Manual

Module 7: Operational Aspects

Paying When the Original Invoice Is Missing
Limiting Calls to Accounts Payable
Petty Cash
Reviewing Supplier Statements
Adopting a Policy of Never Returning

     Checks to Requisitioners

Module 8: Duplicate Payment Issues

Using Processing Standards
Duplicate Payment Avoidance
Mandating a Rigid Work Process    
Some Quick Checks
Backup for Rush Checks

Module 9: Fraud Prevention: Checks

Use of Positive Pay
Pre-printed Check Stock Controls
Check Stock Storage
Other Check Fraud Prevention Practices

Module 10: Regulatory Issues: Information Reporting

A Form W-9 Requirement Policy
Collecting and Tracking W-9 and W-8 Policy
Using IRS TIN Matching Properly

Module 11: Communications/Vendor Relations

Communicating Relevant Information

     to Vendors
Communicating with Internal Customers
Working with Purchasing
Customer Service in Accounts Payable

Module 12: Cash Management

Taking Early Payment Discounts
Payment Timing
Payment Status Information for Vendors

Module 13: Managing the AP Function

Best Practice Policy
Policy and Procedures Manual
Staff Training
Soliciting Process Improvement

     Recommendations
Payment Audits

Module 14: Invoice Problems

Short-Paying Invoices
Handling Unidentified Invoices
Handling Invoices without Invoice Number

Discrepant Invoices 

Module 15: P-cards

Designing a Best Practice P-Card Program
Setting Strong Internal Controls

      in Your P-card Program

Increasing Usage of the P-card in

      Your Organization
Setting Attractive Payment Terms 

Module 16: Operational Aspects

Paying When the Original Invoice Is Missing
Limiting Calls to Accounts Payable
Petty Cash
Reviewing Supplier Statements
Adopting a Policy of Never

     Returning Checks to Requisitioners

Module 17: Internal Controls

Appropriate Segregation of Duties
Appropriate System Access
Policy when Employees Leave
Eliminating Weak Control Practices
Staff Training

Module 18: Fraud Prevention: General

Separate Computer for Online Banking
Wire Transfer Information Requests
Information on Internet for Vendors
Mandatory Vacation Policy
Job Rotation Policy
Handling of Change of Bank

Account Requests

Module 19: Travel and Entertainment Policy

Formal Policy
Expense Report Form 
Verifying Data
Handling Receipts
Detailed Meal Receipts

Module 20: Travel and Entertainment     Issues

Cash Advances
Unused Tickets
Departing Employees
Making Travel Reservations
Reimbursing Employees

Module 21: Regulatory Issues: Unclaimed Property

Reporting and Remitting Unclaimed Property
Performing Due Diligence for Unclaimed

    Property
Using Social Media to Track Owners

     of Unclaimed Property

Module 22: Regulatory Issues: Other

Proper Handling of Sales and Use Tax 

Regular OFAC Checking
Foreign Corrupt Practices Act (FCPA) Monitoring

Module 23: Technology

    An Accounts Payable Technology Plan
    Handling E-mailed Invoices
    Invoice Automation
    Use of Mobil Devices in Accounts Payable

Accounts Payable Training Course Public Class and Webinar Schedule

Monday and Tuesday, April 15 - 16, 2019
Monday and Tuesday, May 6 - 7, 2019
Monday and Tuesday, May 13 - 14, 2019
     European Webinar Only
Monday and Tuesday, June 3 - 4, 2019
Monday and Tuesday, July 1 - 2, 2019
Monday and Tuesday, August 5 - 6, 2019
Monday and Tuesday, September 9 - 10, 2019
Monday and Tuesday, October 7 - 8, 2019
Monday and Tuesday, November 4 - 5, 2019
Monday and Tuesday, December 2 - 3, 2019

Scheduled dates don’t work for you? Schedule your own start date (subject to availability). Contact customer service to check date availability at info@academyofbusinesstraining.com.