Synergy Training Ins tute Limited
Professional Development and Enhancement Course
Course Outline
Course: Accounts Payable / Accounts Receivable
Time:
Duration: Five (5) weeks (2 hours / Session)
Instructor: Contact:
Delivery Mode: Online
SYLLABUS
Description of this course: This course provides the student with a broad view of Accounts
Payable and Receivable, focusing on the essential elements of Accounting, as well as the
importance of safety.
Course objectives and competencies: By the completion of the course, the student will:
1. Basic accounting concepts and terminology
2. The role of AR in cash flow management Perform standard operating and maintenance
procedures.
3. Recording sales and issuing invoices
4. Tracking payments and outstanding balances.
5. Impact on Business Operations.
6. Best Practices for AR and AP Software.
Method of Instruction
This course will be taught via an online platform. Course materials and access to an online
learning management system will be made available to each student.
Course Requirements
1. Assignment– To be determined by the course facilitator.
Training Institute Mission
Synergy Training Institute is dedicated to meeting the educational and training needs of individuals by offering high quality, affordable
higher education and skills training to create pathways to learning, and empowering individuals to achieve their maximum potential.
2. Class Participation
Students are required to participate in activities planned for online classroom learning.
Classroom etiquette also includes leaving cell phones turned off or in silent mode,
refraining from surfing the internet (e.g. checking emails), playing computer games and
conversing unnecessarily with classmate(s) during sessions. Students who disturb class
sessions in such a manner will have their class participation grades adjusted accordingly.
3. FINAL EXAM
All students are required to write/submit/present a final exam, designed by the facilitator.
COURSE EVALUATION
Final Exam Online………………………..…………. 100%
Additional Information: PLEASE READ
Basic class notes shall be provided by the facilitator for each topic.
If you miss a class, it is your responsibility to get the notes for that class. However, you
may request a copy of handout material from the Instructor.
The student is responsible for his/her own note taking.
If there is an issue relating to this class that you have any concerns or questions about,
please discuss with the Instructor before contacting the administrator. All course
related work should be submitted in soft copy.
Students are expected to attend all scheduled classes. Please be mindful of Synergy’
attendance and late policies re: Student’s Handbook 2020.
All assignments are due on the dates established by the course facilitator, which is
published in the syllabus or assigned in class.
Any assignments turned in after the scheduled due date will be penalized five percent (5%)
of the original value per day including weekends, breaks, and holidays Students are
expected to be prompt for classes. No absences are permissible. Appropriate/Respectful
behavior and language are expected at all times.
Course Schedule
Session Topic Grading Scale
Training Institute Mission
Synergy Training Institute is dedicated to meeting the educational and training needs of individuals by offering high quality, affordable
higher education and skills training to create pathways to learning, and empowering individuals to achieve their maximum potential.
Week 1 Introduction to Financial Accounting
o Purpose and role of accounting in business. A
o Basic accounting concepts and terminology A-
(Assets, Liabilities, Equity, Revenue, Expenses). B+
Introduction to Accounts Receivable (AR) B
o Definition of Accounts Receivable.
B-
o The role of AR in cash flow management.
C+
o Key terms: Invoices, Credit Sales, Payment
Terms, and Collection Period.
Definition of Accounts Payable (AP)
o Role of AP in managing liabilities.
o Understanding Supplier Terms and Payment
Schedules.
o Key terms: Supplier Invoices, Payment Terms, 96-100
Credit Terms, Due Date, Discounts. 91-95
Basic Cycle of AR and AP 86-90
81-85
• Flow of transactions: from sales to collection (AR) 76-80
and from purchases to payment (AP). 71-75
C 66-70
Week 2 Sales to Invoice Cycle C- 61-65
o Recording sales and issuing invoices. D+ 56-60
o Credit policies and customer evaluation. D 51-55
o Common credit terms: Net 30, Net 60, and D- 46-50
Early Payment Discounts. F LESS THAN 46
Managing AR: Best Practices
o Setting up customer accounts.
o Tracking payments and outstanding balances.
o Using aging reports for overdue accounts.
Collection Strategies
o Contacting customers for overdue payments.
o Handling disputes and bad debts.
Risk and Credit Management
o Understanding credit risk.
o Strategies to reduce bad debt (e.g., credit limits,
insurance, and third-party collections).
Training Institute Mission
Synergy Training Institute is dedicated to meeting the educational and training needs of individuals by offering high quality, affordable
higher education and skills training to create pathways to learning, and empowering individuals to achieve their maximum potential.
Week 3 Purchasing to Payment Cycle
o Recording purchases and receiving
goods/services.
o Supplier invoices and the three-way match
(purchase order, goods receipt, and invoice).
Managing AP: Best Practices
o Setting up vendor accounts.
o Recording payments and handling outstanding
bills.
o Understanding payment schedules and the
importance of cash flow.
Early Payment Discounts
o Understanding and taking advantage of supplier
discounts (e.g., 2/10 Net 30).
o How early payments impact cash flow and
financial performance.
Optimizing AP Processes
o Automating AP with software tools.
o Strategies to improve AP cycle time and
efficiency.
Week 4 Cash Flow Management
o Managing cash flow by balancing AR and AP.
o Timing of inflows and outflows.
o Cash conversion cycle and working capital
management.
Impact on Business Operations
o How AR and AP affect business profitability
and liquidity.
o Aligning AR and AP processes with overall
business goals.
Manual vs. Automated Systems
o Manual processes for managing AR and AP.
o Overview of software solutions for AR and AP
management (ERP systems, accounting
software).
Best Practices for AR and AP Software
o Key features to look for in AR and AP software.
Integration with accounting systems and other business
functions.
Training Institute Mission
Synergy Training Institute is dedicated to meeting the educational and training needs of individuals by offering high quality, affordable
higher education and skills training to create pathways to learning, and empowering individuals to achieve their maximum potential.
Week 5 Case Study Exercise: Participants analyse a company's
AR processes, identify potential issues, and propose
solutions to improve collections and reduce bad debt.
AR Performance Metrics
o Key performance indicators (KPIs) in AR: Days
Sales Outstanding (DSO), Collection
Effectiveness Index (CEI).
Case Study Exercise: Participants analyse a company's
AP processes, assess payment schedules, and discuss
strategies to optimize cash flow and reduce payment
delays.
AP Performance Metrics
o Key performance indicators (KPIs) in AP: Days
Payable Outstanding (DPO), Payment Accuracy,
Vendor Satisfaction.
Course Review & Q&A
o Recap of key concepts learned.
o Final Q&A session.
o Practical tips for applying AR and AP concepts
in a real-world business environment.
A certificate of Completion will be presented within one month of completing the course,
noting that all class requirements are received. Grades earned, will be furnished to
participants by the course facilitator.
Training Institute Mission
Synergy Training Institute is dedicated to meeting the educational and training needs of individuals by offering high quality, affordable
higher education and skills training to create pathways to learning, and empowering individuals to achieve their maximum potential.
