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IOFM. Accounts Payable Manager Certificate - APM.2 E-Textbook SG Questions with Solutions
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IOFM. Accounts Payable Manager Certificate - APM.2 E-Textbook SG
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IOFM. Accounts Payable ManagerCertificate - APM.2 E-Textbook SG
1.1 Leader - answerless passive work / more active effort
1.1 Manager - answerdelegation of tasks / accountability / focus on meetings outside of
team and engagement with higher management
1.2 Span of Control - answernumber of direct reports (people reporting to manager)
1.2 Decentralized AP - answerAP structure consisting of multiple geographical locations
1.2 Decentralized AP PRO - answer*Payment Flexibility
*Redundancy of ops in event of disaster via other AP loc. can fill in *Strong local vendor
relationship
*Easier cost allocation
*Performance accountability by site
*Greater op for staff promotion and transfer to other departments
1.2 Decentralized AP CON - answer*Segregation of duties difficult due to lower staff
levels *Redundant ops expenses
*Multiple accounting systems w/out system communication functionality
*Challenges in building AP teamwork across locations *Difficulty in combined AP spend
analysis across all loc.
1.2 Centralized AP - answerAll AP functional responsibilities reside with a single
department in a single loc.
1.2 Centralized AP PRO - answer*Greater ability to segregate duties
*Op to increase efficiency and reduce costs through elimination of redundant op and
systems
*Greater control over invoice and payment processing *Greater consistency of training
*Face-to-Face interaction among all AP employees; improved team building
*Consistent payment performance for all invoices
1.2 Centralized AP CON - answer*Potentially longer lead times for vendor setup /
payment processing
*Possibly complex budgetary cost allocations required for the different business units
receiving AP services
*Complexities associated with paying from multiple bank accounts
*Lack of workforce redundancy in event of a disaster
, *Parallel workflows required if the various business units have different tax IDs
1.2 Shared Service Centers (SSCs) - answerCombined departments that relate to one
another (AP/ T&E/ Payroll/ Procurement/ AR/ Fixed Assets/ Technology/ HR)
1.2 Share Service Centers (SSCs) PRO - answer*Greater efficiency
*Less cost than for separate departments
*Better customer service for both internal and external customers
*Consistency of policies and procedures
*Increased visibility into operations
*Reduced cycle time
*More accurate accruals
*Timelier reporting of information
*Better segregation of duties
*Professional management
*Enhanced and consistent quality standards
*Commitment to best practices
*Less departmental siloing and better lines of communication *Independence to manage
the SSC functions without undue influence by other groups and executives
*Potential to hire new staff that are not "set in ways"
*Career op for staff that are unavailable in standalone departments
1.2 Share Service Centers (SSCs) CON - answer*lack of flexibility that may be
necessary in specific situations *Inefficiencies from lack of infrastructure
*Difficulty of change in management
*Proliferation of workarounds undermining SSC benefits *Excessive focus on cost-
cutting
*Possibility of new staff and team required employment *Difficulty to team build in large
SSCs
1.2 Outsourcing - answerProcess of employing external services for regularly internally
handled tasks. Can be seen geographically three ways *Offshoring (another continent)
*Onshoring (within own borders)
*Nearshoring (neighboring countries)
1.2 Outsmarted by Outsourcing (factors to consider) - answer*How long has the
Outsourcer been in business?
*Has vendor taken on assignment of required scope and size? *Do they have a good
credit rating?
*Are they ethical?
*Who are their current clients?
*How secure are their facilities (physical and digital?
*Will they sign an NDA?
*Does the client have the right to conduct a surprise audit? *Do they stay current with
best practices?
*How do they hire?
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