There are no prerequisites

Course Description

This course shows how to achieve a balance between increased sales and a reasonable amount of bad debt by focusing on the design and management of the credit and collection functions. The discussion ranges from the structure of specific jobs to the full range of collection and litigation tactics that can be used to collect money from customers.


Steven M. Bragg, CPA

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.

Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).

Course Specifics

Oct 17, 2018
There are no prerequisites

Compliance Information

Qualifies for CA Fraud: No

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Note the roles of the various employees of the credit and collection functions.

Chapter 2

  • Identify the key procedures and forms needed to operate the credit function.

Chapter 3

  • Cite the key controls needed for the credit function and note what they are intended to accomplish.

Chapter 4

  • State the key procedures and forms needed to operate the collection function, and the situations in which they are applicable.

Chapter 5

  • Identify the key controls needed for the collection function.

Chapter 6

  • Identify the main elements of a credit policy and note the situations in which the policy may be changed.

Chapter 7

  • Cite the contents and handling of a credit application, and note why this process is used.

Chapter 8

  • State the methodologies available for developing credit ratings, and the situations in which credit rating systems can be used.

Chapter 9

  • Itemize the events that can trigger a credit review.

Chapter 10

  • Identify the methods that can be used to interpret the financial statements of a customer.

Chapter 11

  • Cite the methods available for mitigating the risk associated with granting credit.

Chapter 12

  • State the methods used to achieve an efficient and effective billing process.

Chapter 13

  • Itemize the methods available for processing customer payments, and note who is involved in this activity.

Chapter 14

  • Identify the primary tactics used to collect cash from customers, and note how these tactics can be improved.

Chapter 15

  • Cite the management techniques used to deal with payment deductions made by customers.

Chapter 16

  • State the sources of information used to locate customers via skip tracing, and the circumstances under which skip tracing might be necessary.

Chapter 17

  • Note the reasons for using a collection agency, when to use one, and the fee structures they employ.

Chapter 18

  • Identify the reasons for using litigation and the methods for collecting on favorable judgments.

Chapter 19

  • Note the classification of the allowance for doubtful accounts.
  • Cite the methods used to estimate the amount of the allowance for doubtful accounts, and how to account for this allowance.

Chapter 20

  • State the types of technology that can support the credit and collection functions.

Chapter 21

  • Identify the areas in which other parts of a company can cause collection problems, and how to mitigate these problems.

Chapter 22

  • Identify the key measurements used to evaluate the performance of credit and collections, and note how these measurements should be used.

Chapter 23

  • Cite the key laws that impact the credit and collection functions.

Choose Your Preferred Format

Online Access

Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.

online access
Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

hard copy
Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.

hard copy

Back to top