Managing the Cash Cycle - Accounts Payable & Receivable
LEORON Professional Development Institute
Course description
Managing the Cash Cycle - Accounts Payable & Receivable
This 5-day Managing the Cash Cycle training course 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.
Working capital management influences both a firm’s risks and its expected returns. After completing this training course, 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.
Who should attend?
This training course 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 5-day Managing the Cash Cycle training course 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.
Prerequisites
None
Training content
DAY 1: Accounting for Cash & Performance
- Accounting Basics from source documents to the General Ledger
- Cash Flow and Working Capital
- The 3 Key Financial Statements
- Cash vs. Profit
- Working Capital and Cash Management
DAY 2: Developing effective strategies to maximise cash collection
- Measuring credit risk:Tools and techniques of financial analysis
- Customer sensitive collection techniques
- Eliminating barriers to payment
- Recognizing excuses and delaying tactics
- Telephone collection techniques
- Negotiation skills for successful collections
DAY 3: Managing the Receivables Ledger
- Financial distress and the Altman’s Z score-type analyses
- 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 4: Achieving World Class in Accounts Payable Processes
- Defining Best Practice in AP
- Moving beyond P2P
- Invoice Handling and Approval Processes
- How to avoid duplicate payments
- Making the best use of staff time: limiting telephone calls to AP
DAY 5: 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
- Improving Procure to Pay(P2P) Cycle
Certification / Credits
Course objectives
By attending this training course, participants will understand:
- 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 “cost of credit” and its impact on company profitability
- Practical steps that reduce bad debt losses and “uncollectible” debtors
- The importance of the accounts payable function with regard to its links with the supply chain and 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 Receivable and Accounts Payable
Key takeaways
- 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
Why choose Leoron?
LEORON has worked with some of the largest companies in the World - but importantly we care about the individual. Through our Customer Happiness Team we ensure that everyone who attends a LEORON course has the support before, during and after to ensure their training needs are met.
We offer the highest level of training delivery, whether that be in our live-virtual training or in-classroom sessions, with our expert instructors guiding you through everything so that you’re left feeling assured and confident to utilize your new knowledge going forward.
About Leoron
LEORON Professional Development Institute
LEORON is the fastest growing global training institute in the World, having evolved over the past 11 years into a dominant training institute that offers a comprehensive set of training and development solutions to both individuals and businesses. Our locations...
