A number of controls are needed to ensure that supplier invoices are paid in the correct amounts and at the right times. In the Payables Controls course, we discuss all aspects of the accounts payable process flow, the forms used, and the controls needed to ensure that payables activities are properly conducted. The course also addresses systems of internal control, control principles, types of controls, and several related issues.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize the characteristics of a system of internal controls.
Recall the situations in which it is possible to operate with weak controls.
Recognize the best types of controls.
Specify how a continuous controls monitoring system functions.
Recall how an evaluated receipts system functions.
Recall the types of policies and controls used in an accounts payable system.
Major Topics
The Genesis of Accounting Controls
The Proper Balance of Control Systems
Common Fraud Factors
Control Principles
Payables Concepts
