CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Credit and Collection Guidebook

Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
14 Credits: Accounting

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.

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.

Course Specifics

Course ID
1183360
Revision Date
August 25, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Steven M. Bragg Headshot
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 …

Steven M. Bragg, CPA Read More »

Credit and Collection Guidebook

Expert Instructors
Format
CPE CREDITS
14 Credits: Accounting

$364.00$404.00

Clear
Icon_Self-Study
Self-Study
Icon_Level
Overview
Credits
CPE Credits
14 Credits: Accounting

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.

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.

Course Specifics

Course ID
1183360
Revision Date
August 25, 2020
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220

Course Instructor

Steven M. Bragg Headshot
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 …

Steven M. Bragg, CPA Read More »

Credit and Collection Guidebook

Expert Instructors
Format
CPE CREDITS
14 Credits: Accounting

$364.00$404.00

Clear