Accounts Receivable Manager Certification (Exam Cost Included)

Staffing trends and continued organizational demand will continue to drive the need for highly trained accounts receivable professionals. Cash management is a top concern for financial operations teams and their CFOs, who are worried about whether enough money is arriving to meet the needs of the business, customers' experience dealing with the company, protecting the company's cash from fraud, and the cost of performing these processes. Accounts receivable is a key strategic role player in managing the organization's cash flow, from setting customers' credit terms to collecting payments.

This accounts receivable course is designed to equip you with the skills necessary to enter the accounts receivable manager function, including credit management, best-in-class payment processes, regulatory compliance, reporting KPIs, and technology.

Upon completing this accounts receivable certification program, you will be prepared to take a 90-minute, 100-question multiple-choice exam to demonstrate your ability to manage the accounts receivable process and earn the Accredited Receivables Manager (ARM) designation from the Institute of Finance and Management (IOFM).

What you will learn

• Review peer-tested best practices and strategies for managing the payment process
• Understand regulations accounts receivable must comply with
• Learn what makes a good leader in accounts receivable
• Discover how to identify various accounts receivable department structures and their roles in accelerating credit review, receivables monitoring, and reporting
• Comprehend how to analyze both financial and non-financial factors impacting credit decisions, and demonstrate the ability to create effective credit policies and procedures aligned with customer needs and organizational tools

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

1. Organizing the Accounts Receivable Department
   1. Introduction
   2. How Accounts Receivable Fits Within the Broader Business Structure
   3. Interdepartmental Communication
   4. Accounts Receivable Roles and Responsibilities
   5. How Responsibilities Change with Automation
   6. How Accounts Receivable Responsibilities Change When the Work Is Outsourced
   7. Why New Hires Will Require New Skills
   8. Conclusion
2. Credit Management
   1. Introduction
   2. Credit Management
   3. Policy & 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
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. Accounts Receivable Metric Reporting and Analysis
   1. Introduction
   2. Aging Reports
   3. DSO Reporting
   4. Bad Debt Reporting
   5. Collection Effectiveness Index (CEI)
   6. Receivables Turnover Ratio (RTR)
   7. Credit Risk Analysis
   8. Conclusion
5. 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
6. Technology
   1. Introduction
   2. Automated Accounts Receivable Functions
   3. Technology and Tools
   4. Technology Is Here to Stay
7. Process Management
   1. Introduction
   2. The Rationale for Process Management
   3. Good Processes Enhance Cash Flow
   4. Selling the Accounts Receivable Asset
   5. Activity‐Based Management (ABM)
   6. Benchmarking
   7. The Challenge of Change
   8. Communication Tools
   9. Accounts Receivable Organizational Structure
   10. Business Continuity Planning and Disaster Recovery
   11. Looking Ahead
   12. Conclusion
8. Leadership and Team Management in Accounts Receivable, Credit & Collections
   1. Introduction
   2. Leadership Skills
   3. Becoming a Better Leader
   4. Business Ethics and Integrity
   5. Conclusion

Requirements:

Hardware Requirements:

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

Software Requirements:

• PC: Windows 10 or later.
• Mac: macOS 12 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.

Prerequisites:

There are no prerequisites required to complete this course.

Certification Requirements:

While there are no prerequisites to taking this course, IOFM recommends that you meet one of the following for the Accounts Receivable Manager Certification:

• No degree = 5 yrs. related work experience
• 2-year degree = 4 yrs. related work experience
• 4-year degree = 2 yrs. related work experience
• Advanced degree = 1 yr. related work experience

Jess Scheer

Jess Scheer, Executive Editor, IOFM, is an award-winning business reporter focusing on financial operations. He has spent more than 25 years creating must-have content for professionals in the finance arena. He serves as Executive Editor of the Institute of Finance and Management (IOFM) and the Cash Management Leadership Institute (CMLI).

What is the average salary for an accounts receivable manager?

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.

What does an accounts receivable manager do?

An accounts receivable manager oversees the operations of the accounts receivable department, ensuring that all processes are optimized for efficiency and accuracy. Their role includes leading teams, tracking performance metrics, and implementing best practices in areas like credit management and customer account data. They play a key part in maintaining the customer master file and staying informed about how technology continues to shape and evolve the accounts receivable function.

Does this course prepare you for a certification?

Yes. Upon completing the program, learners will take the exam to demonstrate their ability to manage the accounts receivable process and earn the Accredited Receivables Manager (ARM) designation.

How long does it take to complete this course?

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.

When can I start this course?

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.

What if I don't have enough time to complete the course within the time frame provided?

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.

What kind of support will I receive?

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.

What happens when I complete the course?

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

Am I guaranteed a job?

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.

Can I get financial assistance?

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.

How can I get more information about this course?

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