Credit Management & Control
A Program which clearly and comprehensively teaches about Credit, Credit Management, dealing with Customer Accounts, and Debt Control
Any business which sells goods or provides services ‘on credit’ - that is, without receiving payment at once - is exposed to the very real risk that customers or clients might ‘default’, that is, not settle their debts when they fall due for payment. Such ‘bad debts’ can seriously affect the operations and profitability of a business, and so must be kept to the bare minimum. It is the important task of the credit manager and/or accounts managers and personnel, or the owner or manager of a small business, or an appointed official or executive of larger businesses - to formulate a ‘credit policy’ to control and manage the credit extended to its customers or clients. The credit control process needs to be understood and followed, with adequate checks made on “creditworthiness” of new and existing customers, and ‘credit limits’ (how much credit is allowed and for how long) must be set. A major responsibility of a credit manager is to ensure debts are collected on time, that any signs a customer might default are acted upon early, and that any overdue debts are “chased” to avoid losses. This Program covers all those topics, and many more of great value to all businesses.
(1) For the period 1st April to 30th September 2020, anyone enrolling for this Program will also be enrolled free for a Course on Leadership & Organisation if you provide a personal email address;
(2) During the "Covid-19" (Corona) virus pandemic, Members may opt to take an Assignment (home-based course work) instead of an Examination to complete the Program.
- Summary of major topics
- What is included
- Related courses
- Study & Career development
Module 1 - Introduction to credit management
Commercial and consumer credit
The major forms of credit.
The benefits to manufacturers/producers, vendors and consumers of credit availability.
Risks in allowing credit to customers.
Module 2 - Introduction to credit control
- The meaning of liquidity; liquidity management
- External methods of improving liquidity
- Sources of information about customers
- Data Protection laws
Module 3 - The credit control function
- The credit control process
- Credit control activities
- Credit control policy and procedures
- Application forms for credit
Module 4 - Financial analysis of customer accounts
- Analysing customer accounts: liquidity, profitability, gearing
- Profitability and performance indicators
- Working capital cycles
- Financial position measures
Module 5 - Credit scoring systems
- Credit risk level
- Credit scoring and calculating scores
- Shortcomings of credit scoring
- Summary of equation and ratio measures
Module 6 - Granting credit
- Factors affecting the decision
- Refusing credit
- Changes in credit terms
- Half-way house credit
Module 7 - Setting up customer accounts
- Policies and procedures letter and contents
- Credit period, limits, terms and discounts
- Penalties for late payments
- Credit insurance for sales
Module 8 - Running customer accounts
- Customers and contracts
- Elements of contracts
- Terms of commercial contracts
- Breaches of contract
Module 9 - Legal considerations
- Selling and statute law
- Trade descriptions laws
- Sales of Goods laws
- Consumer credit laws
Module 10 - Monitoring customer accounts
- Trading history review, average periods credit reviews, materiality
- Receivables (aged debtor) reports; interpretation, analysis and use
- Communications regarding chasing debts
- Doubtful and bad debts, provisions for doubtful debts
Module 11 - Methods of collecting trade debt
- Credit insurance
- Factoring and invoice discounting
- Third parties for collecting debts
- Checking contract of sale agreements and breaches of contract
Module 12 - Taking a customer to court
- The court system and claims
- Legal terms and enforcement of judgements
- Customers and insolvency, writing off
- Administrators and administrative receivers
Your CIC Fee includes:-
- Your enrolment/registration with Cambridge International College, and your own high-quality, professionally produced and illustrated comprehensive International CIC Core Study Publication and an additional professionally produced and written publication ‘Introduction to Credit Management’ publication.
- A detailed, professional ‘Study & Training Guide’ with full instructions on how to study to achieve success and gain top results. The Guide includes detailed advice on how to answer Tests and Examinations.
- Practice Training Tests and Activities (which can be used as ‘Past Papers/Questions’) and Recommended Answers for them.
- The Final Examination** sat under Invigilation/Supervision in your own area - full details, guidance and explanation of how your Examination will be arranged and how Invigilation is conducted will be provided when you register. Note, CIC arranges Examinations in over a hundred countries worldwide for thousands of Members every year; it is a flexible, straightforward process and will be arranged when YOU are ready to write your Examination. **An Assignment Option is available instead of an Exam for the ‘Covid-19’ (Corona) virus period.
- The prestigious Cambridge International College Diploma on successful completion of your Study & Training and on passing the Final Examination.
- Your personal page on CIC’s Member Services website with access to results, despatch details, advice and guidance, and more: www.cambridgeinternationalcollege.co.uk
- Regular information and news including: Newsletters with details of special offers and new Programs and much more; and Competition Forms; by email and post.
Everything needed for your Study & Training success is included in the CIC Fee.
- Further Study and Training Advice, and Assistance is available before, during and after CIC Study & Training; Members may ask CIC’s team of experienced Consultants for advice on further study and Programmes to improve career prospects and advancement.
- CIC’s experienced and helpful staff can assist with numerous special requests, such as reference/recommendation letters and transcripts, and more, by post and email.
This Program is ideal for careers in all aspects of credit management, and debt and credit control. Whether this course is studied for these specific careers, or to open up or secure a career in accounting generally, in financial control and management monitoring of an organization's finances, this course will provide the skills and knowledge needed for success and advancement.
There is a wide range of options for further study - see the "Related Courses" section for suggestions - which include Honours Diplomas, ABA & Baccalaureate Programmes, and the 'Double Award' EBA & BBA Bachelor degree Programme. You are welcome to ask the College for advice, and of course you can see details of these Programmes on this website.
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Duration & Assessments
The Study Period is one year (12 months) but this is flexible; the Diploma can be completed in a shorter period, or you can take longer if necessary.READ MORE »
To gain your Diploma you need to sit and pass an Examination** (based entirely upon the contents of the Study Materials provided to you in your Program Fee). Full and clear details about preparing for and sitting the Exam are provided to you, including in your Study & Training Guide, when you enrol. The clear information explains when, where and how your Examination will be arranged - it is a simple and straightforward process, which hundreds of thousands of other Members have successfully gone through. If you study well and follow the advice in the CIC Study & Training Guide you should be able to achieve high marks and good grades - and obtain your prestigious International Diploma!
**An Assignment Option is available instead of an Exam for the ‘Covid-19’ (Corona) virus period.
(See the College Prospectus, or the “Frequently Asked Questions” section on the “Contact Us” page of this website, if you would like more information.)
An international accredited qualification for professional development and career success showing you have substantial skills, competence and knowledge.