Auditing Accounts Payable - Part 1 - Understanding the business process

00:00 Introduction
01:42 Requests and approvals for purchases
03:20 Ordering
04:16 Receiving goods and invoicing
07:32 Preparing for payment to suppliers
11:09 Approval of payments to suppliers

The Harvard Business Review piece on Ford's 2-way matching

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[qtinkjd]

As a person who has 50 years experience in Audit, actually hands-on audit I really support these videos and the practical information they contain....well done Amanda! A 'home truth" is that when the second person is authorising a batch of EFT payments the reality is, that person often does not thoroughly check those payments....the payment file can be just so large it would take too long to do the job the auditor needs to be aware of this issue. Thanks

[bethmaree]

This is one of the best preparations for understanding the full AP process especially if you are having an interview.

[pleasuretown]

Great video! Helped a lot as a refresher before I started applying for accounting jobs

[milanpatel]

Some concepts I forgot, after watching video remembered all. Nice way of teaching.

[paolatapieroretavizca]

You are helping me a lot with my auditing study in English.

[jpyan]

Thanks, Amanda. Your video is very helpful.

[manish]

Now thats love Amanda ....Thanks for the detailed explanation❤

[sharabuena]

You're literally saving my life today Dr. Amanda! ♥️ Your videos are really helpful! God bless!

[samanthaarmes]

these videos are currently saving my life thank you so much!

[tonynguyen]

Thank you so much, your videos are very helpful!

[rekhayadhav]

Thank you for clear video Amanda u made it so easy that even a layman can understand.appreciate your efforts 👏👏👏👏👏❤️😘❤️❤️ love from India

[bvumayichatikobo]

From the Horse's mouth, as always, thank you Doc for your valuable time you are taking to put up together these wisdom nuggets, we sincerely appreciate the tireless of love from Zim....looking forward to part and stay safe, Doc

[glorynguh]

Thanks for the great video Dr. Amanda📝

[annaanna]

Thank you so much, this is just awesome!

[gervith]

another great video, thanks Amanda! :)

[hirushiwaduge]

Thank you so much for this ma'm❤️

[juliasaenz]

You are so good to explain all the accounts payable process =9

[dewaayusriswastiputriwirya]

Thank you so much, Amanda!:) Amazing videos, and your explanation is totally easy to understand:)

[saswatichoudhury]

it is relly good inormtion nd vedio is relly good

[Arrowsmith]

Great video yet again! Loving this series. Could you do a video on accruals? I'm working on a file where for vacation accruals on the balance sheet, the procedure is to come up with an average accrual and compare to the entries within the vacation accruals detail g/l.
My confusion is that the test is looking at transactions but our procedure is to ensure the completeness and accuracy of the balance.. Am I missing something? Sigh. My manager and team are just SALY, but I would like to be more efficient and understand the why.