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[ see more articles on credit management] It might be a surprise that some companies do not emphasis or support the roles or function of their credit management/control department. This is especially true for sales personnel when they think that credit department is an obstacle towards achieving their sales target. To some they still do [...] In the credit application form we can put a request to the customer for the names of his trade references. Why is this so? The taking of references has becomingly more common. Seeking trade references can greatly help the credit manager/controller in the credit vetting of his customer. So we should make it as easy [...] In credit control or management,it is important to set credit limit for each customer. By setting credit limit,it has the following advantages: the firm is able to limit its credit risk or losses caused by fraud or a sudden worsening of a customer’s position. Having credit limit set means that modest check or [...] All the topics for Credit Management are segmented into the following sections:- GENERAL/INTRODUCTION Credit Management:An overview of Its Importance And Characteristic of a well run credit management department. Roles Or Functions Of Credit Management Credit Management-Costs In Extending Credit /Return on Investment on Account Receivables. ACCOUNTING/DOCUMENTATION Credit Management-The Importance of Proper Documentation. [...] Needless to say that when debtors are not paying us on time,we need to raise our alertness level as this can ultimately lead to a future bad debt. So what might be some of the warning signs of a future bad debt? Some examples are as follows: longer credit terms taken with approval,particularly [...] |  FCCA,CA(MIA)with more than 26 years of post-qualifying working experiences. Previous working stints with one of the big accounting four,Regional GFC & Group Treasurer in a group of Malaysian and Group CFO in Singapore public listed concern.Also author to another very popular free educational accounting cum finance blog:http://basiccollegeaccounting.com under the branding of College Accounting Coach. | |||||
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