The Accounts Payable team is responsible for timely payments of all goods and services received by the AICPA and its related entities. Additionally, the Accounts Payable team is responsible for issuing employee and member reimbursement payments.
The Accounts Receivable team supports AICPA’s commitment to fiscal responsibility and exceptional member service by ensuring timely and accurate invoicing, cash application, credit processing, refunds and processing of dues renewals payments. Accounts Receivable also provides reporting and analysis to support these functions and others as required. The Accounts Receivable team acts as the Finance liaison in cooperative engagements to develop and enhance critical member-facing systems that interface with Accounts Receivable systems, including but not limited to our annual dues cycle.
Credit and Collections
The Credit and Collections team ensures protection of AICPA’s assets through verification of credit of new and existing customers and ensures timely collection of accounts receivables. The Credit and Collections team performs appropriate credit checks through a 3rd party vendor and routinely monitors customers for fiscal viability.
The Credit and Collections team monitors all open invoices greater than 30 days and determines the appropriate action for resolution.
Financial Reporting & Analysis
Financial Reporting & Analysis facilitates better financial decision making within the AICPA by monitoring, analyzing and reporting on the Institute’s revenue, cost of sales, and operating activities, including financial activities within that areas of professional development, publications, and other miscellaneous revenue activities (excluding Exams and Dues). This is accomplished through consultative relationships throughout the organization that enable Financial Reporting & Analysis to act as business partners to all teams within the Institute.
Financial Reporting & Analysis' responsibilities include the design and implementation of the budget and forecast processes, and providing guidance to the Finance Council and the Board of Directors as needed. Financial Reporting & Analysis also supports the Finance Department’s monthly close process to ensure the accuracy and integrity of the institute’s financial statements.
Ultimately, the analysis provided by Financial Reporting & Analysis helps individual teams within the Institute, as well as the Institute as a whole, manage the costs of business while providing the support necessary to grow revenue.
The Fixed Assets team is responsible for establishing and implementing controls to safeguard and protect the physical assets of the AICPA. Rules and guidelines are established in order to consistently treat expenditures and disposals so they can be properly tracked and reported.
The Finance General Ledger team oversees all general ledger functions which include the repository of all accounting information of the AICPA. All subsystem activities (Accounts Receivable, Accounts Payable, Fixed Assets and Inventory) roll up into the General Ledger. The chart of accounts, which includes team names, numbers, descriptions, tasks, product codes and project numbers, is also maintained by the General Ledger team. This team is also primarily responsible for preparing in-depth analyses and reconciliations related to our membership areas.
Financial statements including the Balance Sheet and the Profit and Loss are prepared and distributed at month end by the General Ledger Team.
The General Ledger team is the main point of contact in the finance area for supporting our Internal Audit team as well as our external auditors.
The Inventory team is responsible for establishing, pricing, monitoring and maintaining inventoried and non-inventoried items in Oracle’s Item Master. The team strives to ensure proper valuation of inventory and provide inventory management to our business partners throughout the Institute. Inventory consists of tangible property that is held for sale in the ordinary course of business (finished goods such as printed publications) and raw materials to be consumed directly in the production of goods held for sale. Non-inventory items consist of 3rd party products, conferences, webcasts, etc. (intangibles items to be sold).
The Payroll team is responsible for processing multi-state payrolls for permanent and temporary AICPA team members. The team maintains the general ledger for all salary and payroll tax transactions and is also responsible for preparation of the annual salary budget and the preparation of monthly forecasts. The team also provides ad hoc analysis as requested by Management.
The Purchasing team is the hub of the “procure to pay cycle” whose primary purpose is to provide efficient and timely services to all teams of the AICPA in the procurement of all goods and services. These services include providing requestor training, facilitating the bid process, monitoring the requisition/purchase order process, managing the Purchasing Card Program and Office Depot account, effectively evaluating supplier relationships and setting up new suppliers. The team is also responsible for maintaining the purchasing policy and ensuring the “procure to pay cycle” is followed accordingly.
AICPA Related Organizations maintain strategic programs and initiatives in support of the Accounting Profession. The AICPA Finance team provides accounting services to the following related organizations: Accounting Research Association, AICPA Insurance Trust, AICPA Benevolent Fund, AICPA Foundation, Beta Alpha Psi, Center for Audit Quality, CPAs in Support of America, AICPA Educational Fund, Federation of Schools of Accountancy, Political Action Committee, and Private Companies Practice Section. In addition to the account services outlined in the General Ledger section, the AICPA Finance team works with Operations to provide budgeting, ad-hoc analysis, and decision support.
The Tax Compliance team ensures all required reports are filed with the federal and appropriate state governments on behalf of the AICPA. Filings include income tax, sales tax, property tax, charitable registrations, annual reports, and filings with the Department of Labor. Additionally, tax compliance researches all issues that arise related to changes in tax law or the tax effect of new business decisions.
The Treasury Department is responsible for the safeguarding and accurate recording of cash and investment assets for the AICPA and its Related Organizations, including overseeing all debt activities. Treasury maintains our bank, payment processing and custodial vendor relationships being mindful to optimize services and limit fees.