Accounts Receivable Specialist Certification (Exam Cost Included)

Staffing trends and continued organizational demand will continue to drive the need for highly trained accounts receivable professionals. The U.S. Bureau of Labor Statistics projects nearly 175,000 annual job openings for bookkeeping, accounting, and auditing clerks, which includes some accounts receivable roles, through 2033. Cash management is a top concern for financial operations teams and their CFOs concerned with whether enough funds are available to meet the business's needs, the...

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3 Months / 40 Course Hrs
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Accounts Receivable Specialist Certification (Exam Cost Included)

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Course code: GES2184

What you will learn

  • Review peer-tested best practices for each phase of the payment process – from receipt of invoice, through processing and payment
  • Learn how to mitigate risks stemming from tax laws, as well as T&E-related fraud and abuse
  • Understand how automation will continue to adjust how you do what you do
  • Comprehend the outline of the credit cycle (O2C), credit department goals, and its interdepartmental relationships within a business setting
  • Discover how to analyze methods for credit application, credit line assignment, customer onboarding, credit limit management, and enhancement of sales interactions to optimize credit management processes

How you will benefit

  • Earn a certification from IOFM, a recognized and respected authority in financial operations
  • Advance your career in accounts receivable or the related fields of credit and collections, shared services, or financial operations management by proving a high level of expertise in accounts receivable
  • Stand out as an attractive job candidate with valuable skills that will help to improve efficiency and generate savings for any organization

How the course is taught

  • Self-paced, online course
  • 3 Months to complete
  • Open enrollment, begin anytime
  • 40 course hours
  1. Internal Controls
    1. Introduction
    2. What Are Internal Controls?
    3. Control Environment
    4. Risk Assessment
    5. Control Activities
    6. Accounts receivable Internal Controls
    7. Policies and Procedures (P&P)
    8. Audit and Key Terms
    9. Fraud
    10. Consequences of Inadequate Internal Controls
  2. Understanding Your B2b Customer's Procure to Pay Process (P2P)
    1. Introduction
    2. Non-PO Purchases
    3. PO Purchases
    4. The Perfect Invoice
    5. DSO And DPO 33
    6. Sending Statements of Past Due Invoices
    7. AP And Procure-To-Pay Best Practices
    8. Conclusion
  3. Customer Master File
    1. Introduction
    2. Ownership
    3. Customer File Documentation
    4. Verifying Customer Data
    5. Updating the Customer Master File
    6. Entering and Securing CMF Data
    7. Cycle Time
    8. Conclusion
  4. Credit Management
    1. Introduction
    2. Credit Management
    3. Policy and Procedures (P&P) for the Credit Manager
    4. New Customer Credit
    5. Credit Application
    6. Assigning A Credit Line
    7. Relationship Between Credit and Sales
    8. Resources for Credit Managers and The Customer Master File
    9. Financial Statement Analysis
    10. Internal Credit Score
    11. Terms and Payment Methods
    12. New Customer Acceptance Letter
    13. Credit and Existing Customers
    14. Metrics
    15. Best Practice Summary
  5. Cash Application, Deductions, and Dispute Management
    1. Introduction
    2. Payment Types and Methods
    3. International Payments
    4. Cash Application
    5. Dispute Management
    6. Best Practices
    7. Conclusion
  6. Collections
    1. Introduction
    2. Collections Prioritization
    3. Collection Technology
    4. Collections Staff
    5. Collection Methods
    6. Additional Practices and Tools
    7. Compliance
    8. Bankruptcy
    9. Best Practice
    10. Conclusion
  7. Accounting, Records, and Associated Regulations
    1. Introduction
    2. Accounting Definitions
    3. Financial Reporting and Account Standards
    4. General Ledger
    5. Month-End Close
    6. Financial Statements
    7. Auditing—Internal and External
    8. Record Retention/Destruction
    9. Other Regulations
    10. Unclaimed Property/Escheatment
    11. Conclusion

Steve Fulmer

Steve Fulmer is the Director of Digital Transformation at South Mill Mushroom LLC, bringing over 20 years of finance and accounting experience. He focuses on stabilizing and optimizing financial processes while ensuring data integrity.

Steve began his career in a Fortune 100 chemical company, progressing through roles in tax, financial analysis, and corporate controllership. Before his current role, he served as financial controller for the U.S. operations.

At South Mill, Steve started as a senior accountant, later becoming accounting manager, overseeing the financial close and managing accounts payable and receivable teams. He earned an Accounts Receivable Manager Certification from IOFM, which helped improve DSO and reduce turnover.

Steve holds a bachelor's degree in accounting and an MBA in organizational development from Widener University. He has undergone extensive leadership training focused on team building and communication, and now facilitates leadership courses for employees. He is passionate about learning, teaching, and building high-performing teams, believing in celebrating successes and having fun.

Prerequisites:

There are no prerequisites required to complete this course.

Certification Requirements:

The Accounts Receivable Specialist Certification course is specifically designed to help individuals with prior accounts receivable knowledge become certified. IOFM recommends that you meet one of the following for ARS certification:

  • No degree = 3 yrs. Accounts receivable experience
  • 2-year degree = 2 yrs. Accounts receivable experience
  • 4-year degree = 1 yr. Accounts receivable experience

Requirements:

Hardware Requirements:

  • This course can be taken on either a PC, Mac, or Chromebook.

Software Requirements:

  • PC: Windows 10 or later.
  • Mac: macOS 10.6 or later.
  • Browser: The latest version of Google Chrome or Mozilla Firefox is preferred. Microsoft Edge and Safari are also compatible.
  • Microsoft Word Online
  • Adobe Acrobat Reader
  • Software must be installed and fully operational before the course begins.

Other:

  • Email capabilities and access to a personal email account.

Instructional Material Requirements:

The instructional materials required for this course are included in enrollment and will be available online.

About Certification: Institute of Finance and Management (IOFM)

The Institute of Finance and Management (IOFM), a globally recognized authority in financial operations, offers respected certifications like Accounts Payables Specialist/Manager (APS/APM) and Accounts Receivables Specialist/Manager (ARS/ARM) to over 25,000 professionals, backed by a rigorous curriculum developed with testing experts. With a history of empowering financial professionals through flexible, multi-language programs and resources like webinars and conferences, IOFM's certifications enhance career prospects, earning recognition from Fortune 500 companies and boosting team efficiency. Certified individuals gain access to IOFM's extensive library of 3,000+ tools, digital badges, and continuing education opportunities, making these credentials a valuable asset for mastering compliance, automation, and process optimization in Accounts Payable, Procure-to-Pay, and Accounts Receivable.

According to Glassdoor, the median salary for an accounts receivable specialist is $58,000, while the median salary for an accounts receivable manager is $79,000. As technology changes the landscape of financial operations and companies seek to optimize cash flow, skilled accounts receivable professionals can leverage in-demand technical and strategic skills to increase their compensation.

An accounts receivable specialist manages the money owed to a company by its customers. They ensure timely payment of invoices, maintain accurate financial records, and resolve any payment discrepancies. Essentially, they handle the bookkeeping and accounting related to incoming payments.

Yes. Upon successful completion of the course and final exam, you will earn the Accounts Receivable Specialist designation.

After you register, you will receive 3 months to complete the course. The time allotted for completion has been calculated based on the number of course hours.

This course is open enrollment, so you can register and start the course whenever you are ready. Access to your course can take 24-48 business hours.

The time allotted for course completion has been calculated based on the number of course hours. However, if you are unable to complete the course, contact the student advising team to see what options you may have available to work out a suitable completion date. Please note that an extension fee may be charged.

Our courses are designed to accommodate various learning preferences. Depending on the course structure, you may get different forms of support. Self-paced courses are designed to be user-friendly and independent, minimizing the need for external support. In courses with instructors, our direct platform support feature includes opportunities for questions, discussions, and remediation, with email and phone support available for select courses. Our student advising team is available to guide you on program requirements and administrative requests, but they do not provide assistance with course content. Our goal is to provide you with the necessary support for success, whether it's through self-paced exploration, direct communication, or guidance from our advising team.

Upon successfully passing the final exam, you will be awarded a certificate of completion from the school or organization that you registered through.

ed2go courses will help you gain the skills you need to obtain an entry-level position in most cases. However, you should always research the job market in your area before enrolling.

ed2go courses are non-credit, so they do not qualify for federal aid, FAFSA, and Pell Grant. In some states, vocational rehab or workforce development boards may provide funding to take our courses. Additionally, you may qualify for financial assistance if you meet certain requirements. Learn more about financial assistance.

If you have questions that are not answered on our website, representatives are available via LIVE chat. You can also call us at 1-877-221-5151 during regular business hours to have your questions promptly answered. If you are visiting us during non-business hours, please send us a question using the "Contact Us."

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