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90-minute live streaming program
  • July 7
  • 1:00 - 2:30 pm EST

Best Practices for Preventing Business Credit Card Abuse

July 7

Understand the importance of having a credit card policy and the actions your company could take if employees violate the policy.

Many companies have implemented using credit card programs for their employees as they can see benefits such as: tighter controls in monitoring expenses, less paperwork and processing of expense checks, savings on travel, hotels, and supplies. However, if the proper credit card policy is not in place it could cause issues such as: overspending which will impact a company’s cash flow, the more credit cards that are issued the greater chance of them getting lost or stolen, employees could abuse their spending levels or depending on which type of credit card program they enroll in, it could cost additional expense for the company. In this topic, you will learn about the evolvement of credit cards, why companies choose to use them, why they could be more beneficial to smaller companies than large corporations. You will understand why having a credit card policy in place is essential to prevent any credit card abuse as well as why this policy must be integrated with the companies travel and entertainment policy to send a clear message to all employees as to how they must handle their company credit cards. We will also discuss the actions your company could take if employees violate the credit card policy. Plus, we will also discuss other controls that companies I have worked at have implemented to eliminate the challenges they faced with employee’s misuse of their expense reports and credit cards.

Learning Objectives

  • You will be able to define the makings of a strong company credit card policy.
  • You will be able to describe the importance of why companies will want to use credit cards.
  • You will be able to discuss why having a strong corporate travel and entertainment policy is important.
  • You will be able to explain the two types of corporate credit cards a company can use.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

History of Credit Cards in Corporate America
  • Why Companies Have Decided to Use Credit Cards for Their Employees
  • How to Control Cash and Spending of Credit Cards
  • Pros and Cons of Issuing Corporate Credit Cards
Differences in Corporate Credit Cards
  • Individual Liability Card Versus Corporate Liability Card
  • What Companies Are Eligible for Corporate Credit Cards?
  • Credit Cards Specifically for Small Businesses
Corporate Credit Card Policy
  • What Verbiage Needs to Be in a Strong Corporate Credit Card Policy?
  • Explanation of the Employees' Responsibilities for Maintaining the Card
  • Do You Need to Give Every Employee a Credit Card?
Other Controls That Can Be Included When Setting up the Credit Card With the Credit Card Company
  • Look at Exceptions and Limits That Can Be Added to Each Card
  • Cards Done for Specific Departments
  • The Importance of Maintaining Receipts
Corporate Travel and Entertainment Policy
  • Examples of a Good Policy
  • Actions If Employees Violate Company Credit Card Policy
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AIPB 1.5
     
  • This program is acceptable for 1.5 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • CPP/FPC
     
  • Lorman Education Services is an approved provider through the American Payroll Association. This seminar is approved for 1.5 RCHs. PLEASE NOTE: To receive credit through the American Payroll Association for this program you MUST attend the program in its entirety and use the streaming option, as well as enable (and complete) the required progress checks.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 5.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of Law & Legal Procedure credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • HR Certification Institute 1.5
     
  • This program has been approved for 1.5 (General) recertification credit hours toward aPHR(TM), aPHRi(TM), PHR®, PHRca®, SPHR®, GPHR®, PHRi(TM) and SPHRi(TM)recertification through HR Certification Institute® (HRCI®). For more information about certification or recertification, please visit the HR Certification Institute website at www.hrci.org.
     
  • SHRM 1.5
     
  • Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.5 PDC(s) for the SHRM-CP or SHRM-SCP.
     
  • CPE 1.8 including Management Services 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Management Services for 1.8 hours. Prerequisite: basic knowledge of processing payroll. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     

Who should attend?

This live webinar is designed for payroll administrators, human resource managers, controllers, CFOs, accountants, presidents, vice presidents, business owners and managers, and attorneys.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Ronald A. Sereika

Ronald A. Sereika

Mspark

  • 2010 National instructor of the year award for The National Association of Credit Management
  • 2013 CCE award of excellence presented by the National Association of Credit Management
  • 2011 Credit Executive of the year Upstate New York by NACM Chicago
  • National Speaker at NACM Credit Congress, NACM Eastern Regional Conference, Upstate NY Annual meetings 2011 to 2015
  • Two-time finalist at CooperVision for the CFO award given annually for the top performer in North America’s finance team
  • B.S. degree in accounting, Fredonia State University; attended Amos Tuck School of Business at Dartmouth University executive program for certification in Credit and Finance
  • Can be contacted at 585-705-0304 or [email protected]
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 408333
Published 2021
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