One of a company\'s most important accounts
is their cash account management. It is also the most vulnerable to
fraudulent activity. Because of this, companies need to make sure that
they have adequate cash accounting management and controls in place.
What is cash control? Cash control is a way to monitor credit,
collection, cash allocation and disbursement policies, as well as
The cash account is the one account that
can easily fall prey to fraudulent activity. Because of this, it is very
important that a company put into place guidelines for managing the
cash account. There are a few common aspects of internal control that
can and should be used by all companies. To begin with, there needs to
be a separation of duties. Along with separation of duties, there needs
to be a written protocol for cash handling and disbursement. This
training is the right tool you need to have adequate knowledge of cash
accounting management and control.
Identify the key cash management tasks and who is responsible for them.
Note the sources and reliability of information used in cash forecasts.
State the formats and uses of the bank reconciliation, as well as the types of differences that may arise.
Cite the information requirements of a cash management system, and the frequency with which this information must be collected.
Recognize the methods available for collecting and processing cash receipts.
Note the features of the main cash concentration systems, and the situations in which they should be used.
State the characteristics of the different methods of payment, and when they should be used.
Note how positive pay and its variations can be used.
Recognize the techniques that can be used to reduce the investment in working capital.
Cite the more common cash investment
strategies and investment instruments, and the circumstances under which
they should be used.
Identify the main aspects of foreign exchange risk and the methods available to mitigate it.
Note the impact of netting on hedging activity.
Identify the main aspects of interest rate risk and the methods available to mitigate it.
Cite the controls that can be used for the cash management function.
Note the areas in which cash management metrics should be employed, as well as how to calculate the key metrics.
An Overview of Cash Accounting Management and Control
The Accounting Information System
Accrual Accounting and Measuring Performance Control
Non-Current Assets, Debt and Equity
Financial Statement Analysis
Budgeting and Control
Who Should Attend
Those who will benefit include:
Top executives in all areas of Sales, Marketing, Service Organizations, Manufacturing
Anyone involved in the financial decisions of your organization.
If your expertise has not included a
consistent grounding in financial and managerial accounting practices
and concepts – you’ll benefit greatly.
This training’s methodology is a
combination of expert input, interactive practical exercises, self
assessment, lots of hands-on role-play, group discussions, exercise
worksheets, practical projects and presentations.
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