Course description
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.
Programme Summary
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.
- Take control and manage the immediate, or impending, crisis
- Create stakeholder support
- Fix the problems of the business
- Restructure the funding of the business
Key Learning Points
- 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
Upcoming start dates
Suitability - Who should attend?
- 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
Outcome / Qualification etc.
Benefits of Attending
- 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 Course Content
Day One -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 Two – Developing effective strategies to maximise cash collection
- Measuring credit risk: Tools and techniques of financial analysis
- Customer sensitive collection techniques
- Eliminating barriers to payment
- Recognising excuses and delaying tactics
- Telephone collection techniques
- Negotiation skills for successful collections
Day Three – Managing the receivables ledger
- Financial distress and the Altman’s Z score-type analyses
- Developing effective internal relationships to maximise performance
- Setting targets and tracking performance
- Managing information that dazzles
- Defining meaningful KPI’s
- Latest developments in accounts receivable
Day Four – 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 Five – 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
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St Andrews Management Centre
St Andrews Management Centre is an independent training provider, based in Fife in Scotland, which provides accredited and non-accredited learning to clients in the domestic and international markets. Our specialisms include Leadership & Management, Coaching and Mentoring, Project Management, Finance...