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Wk4-AIS Learning Discussion - Business Processes.docx -...

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Wk4: Learning Discussion- Business ProcessesThe CFO has asked you of your firm to look at ways to improve your crucial accountingoperations (billing, A/R, and A/P).I recommend the best practice function will be in Account Payable.Companies must strive to maintain efficient business practices and reasonable cost purchasingcontrol. A well-managed account payable function can assist in accomplishing this goal forthe purchasing decision through payment and check reconciliation. The primary objective foraccounts payable and cash disbursements is to ensure that distribution is properly authorized,and invoices are processed promptly with supporting documents attached. The Finance Officereviews all invoices and notes any discrepancies.The Deputy Director approves all check,and afterward, the Finance Officer import the positive pay file to the bank; this file list thecheck the company has authorized to be cashed.

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Term
Fall
Professor
N/A
Tags
Committee of Sponsoring Organizations of the Treadway Commission

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