Introduction:
This training course focuses on accounts receivable, a critical component of a company's financial management. Accounts receivable refers to the money owed to a company by its customers for goods or services sold on credit. This course is designed to give participants a comprehensive understanding of accounts receivable management and best practices for managing it effectively.
Targeted Groups:
Finance and accounting professionals.
Credit Managers.
Anyone involved in managing a company's accounts receivable function.
Course Objectives:
At the end of this course the participants will be able to:
Understand the importance of accounts receivable management.
Learn best practices for managing accounts receivable effectively.
Learn how to monitor and analyze accounts receivable to identify. potential issues and take appropriate action.
Understand the impact of accounts receivable on a company's financial health.
Learn how to develop and implement an effective accounts receivable strategy.
Targeted Competencies:
Financial analysis and decision-making.
Risk management.
Communication and collaboration.
Time management.
Strategic thinking.
Course Content:
Unit 1: Introduction to Accounts Receivable Management:
- Definition of accounts receivable
- Importance of accounts receivable management
- Key metrics and KPIs for measuring accounts receivable performance
Unit 2: Best Practices for Managing Accounts Receivable:
- Setting credit policies and procedures
- Invoicing and payment processing
- Collections management
- Customer relationship management
Unit 3: Monitoring and Analyzing Accounts Receivable:
- Aging reports and analysis
- Cash forecasting
- Bad debt analysis
- Reporting and communicating accounts receivable performance to stakeholders
Unit 4: Impact of Accounts Receivable on Financial Health:
- Cash flow management
- Working capital management
- Balance sheet analysis
- Income statement analysis
Unit 5: Developing and Implementing an Effective Accounts Receivable Strategy:
- Goal setting and performance metrics
- Process improvement and automation
- Technology and software solutions
- Change management and stakeholder buy-in
