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.

Credit and Collection Operations Credit Procedures Credit Controls Collection Procedures Collection Controls Credit Policy Credit Application Customer Credit Ratings Ongoing Credit Monitoring Interpretation of Financial Statements Credit Risk Reduction Customer Billings Payment Handling Collection Tactics Payment Deductions Skip Tracing Collection Agency Litigation and Bankruptcy Tactics Allowance for Doubtful Accounts Credit and Collection Technology Product and Service Improvements Credit and Collection Measurements Credit and Collection Laws