Transcription of Financial Management Program BEST PRACTICES IN …
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Financial Management Program BEST PRACTICES IN …
Financial Management ProgramGASBO 2015 Tracy Arner, PRACTICES IN ACCOUNTS PAYABLEAt the end of this session, the participant will be able to - Discuss the definition of accounts payable Recall components of internal control Recite best PRACTICES for accounts payable within a strong internal control frameworkObjectives2 Accounts PayableDefined3 What is Accounts payable ?The principle purpose of any accounts payable department is to paythe government s on next slide4 What is Accounts payable Unpaidbills are listed under Accounts payable on the General Ledger. Any money owed as an account payable is a current liability. Money owed must be paidin a timelymanner to avoid late penalties or fees.
Financial Management Program GASBO 2015. Tracy Arner, CPA. tarner@uga.edu. 1 BEST PRACTICES IN ACCOUNTS PAYABLE
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