Internal Controls: Accounts Payable and Cash Disbursements – Online| Self-Study

About this course

Learning objectives

This dynamic course has a detailed curriculum consisting of 7 lessons:

Lesson 1 — Internal Control Review

• Recall the definition of internal control.
• Name the five interrelated components of an effective internal control system.
• Recognize the three categories of objectives and the five interrelated components of an effective internal control system.
• Recall how objectives and components work together to create an effective internal control system.

Lesson 2 — Importance of Internal Control

• Recall why internal controls are valuable to an organization.
• Recognize internal control within GAGAS and the Single Audit Act.
• Recall how internal controls are a deterrent to fraud.

Lesson 3 — Effective Internal Controls Over Accounts

• Recall the definition of accounts payable.
• Identify the objectives for accounts payable.
• Recall how the accounts payable objectives are linked to the five interrelated components of an effective internal control system.

Lesson 4 — Effective Internal Controls Over Cash Disbursements

• Recall the definition of cash disbursements.
• Identify the objectives for cash disbursements.
• Recall how cash disbursement objectives are linked to the five interrelated
• Recognize how fraud occurs in the cash disbursement function.

Lesson 5 — Segregation of Duties

• Recall the definition of segregation of duties.
• Identify duties that should be segregated for cash disbursements/accounts payable
• Recall how to complete a segregation of duties evaluator for a sample government.

Lesson 6 — Internal Controls Deficiencies

• Recall internal control testing performed by external auditors.
• Recognize the components for reporting internal control deficiencies.
• Recognize the different types of internal control deficiencies.

Lesson 7 — Mini Case Studies in Developing Internal Controls for Accounts Payable and Cash Disbursements

• Identify the internal controls missing by applying the knowledge acquired in this course.
• Determine what duties should be properly segregated.

Who should attend?

• State and local government employees who require knowledge of basic internal controls or budget process.
• Professionals with private sector experience who want to gain knowledge of internal controls over capital assets.
• Accounting professionals preparing for the CPA exam or seeking continuing professional education.
• Local government employees who seek to meet the requirements of the Local Government Finance Officer Certification Program offered through the University of Georgia’s Carl Vinson Institute of Government

Continuing Education Information

A University of Georgia CEU (Opens in a new window) transcript is available at anytime upon written request.

A Certificate of Program Completion will be awarded by the University of Georgia, Carl Vinson Institute of Government.

Note: Carl Vinson Institute of Government University of Georgia National Registry Sponsor Number: 140808

In accordance with the standards of the National Registry of CPE sponsors, CPE credits granted are based on a 50-minute hour.

Field of Study: Auditing (Governmental)
Delivery Method: QAS Self Study
Advance Preparation: None
Program Level: Basic
Prerequisites: None