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 invoicing functions.

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.

Learning Outcome

• 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.

Course Outline

• An Overview of Cash Accounting Management and Control
• The Accounting Information System
• Accrual Accounting and Measuring Performance Control
• Working Capital
• Non-Current Assets, Debt and Equity
• Cash Control
• Financial Statement Analysis 
• Budgeting and Control

Who Should Attend

Those who will benefit include:

• Directors/Vice Presidents
• General Managers 
• Department Managers
• 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.

Methodology

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.