Accounts Payable - Learn the Terminology 0.5 CPE

Half the battle of learning a task is understanding the terminology and acronyms used.  Even back when we all learned basic math functions, we first had to learn the definitions of Addition, Subtraction, Division, and Multiplication.

That said, to perform Accounts Payable (AP) related tasks, the processors should first learn the words used and their definitions.  This course includes a “Glossary of Terms as Used in the Accounts Payable World” in the Supporting Materials section.

In some cases, when interpreting the intended use of one word or acronym, there may be multiple definitions or a different meaning outside the context of Accounts Payable.  This course supplies more details on critical terminology and examples of how and when the terms may be used. 

Prerequisites

Please review the “Glossary of Terms as Used in the Accounts Payable World” before starting the course.  It can be found the Supporting Materials section of the Course Overview page.

Learning Objective

• Recognize the definitions of acronyms commonly used in Accounts Payable (AP).
• Identify the meaning of widely used terms as they relate to the Procure to Pay Work Stream which includes Accounts Payable.
• Explore the interpretation of words used by those outside of Accounts Payable.  
• Discover the benefits of creating a Glossary of terms used within your company for the benefit of AP staff members and others working with the team. 

Last updated/reviewed: March 7, 2024