Understand the role of credit management within the business environment.
Explain the importance of providing credit within the business environment.
Analyse the differences between trade, export and consumer credit.
Quantify the impact of offering credit on cost, profitability and liquidity.
Understand the organisational requirements of credit management functions.
Explain how the credit management function and its personnel fit into the overall structure of an organisation.
Explain how potential areas of conflict between the credit function and other areas of business can be resolved.
Explain how customer service can be achieved within the credit function.
Explain the importance and use of credit policies and procedures.
Evaluate the usefulness of credit management performance measurements and targets.
Understand the impact of legislation on the credit function.
In the context of liability, explain the advantages and disadvantages of offering credit to a range of customers and territories.
Explain the impact of current legislation, on the decision making process when dealing with credit applications.
Assess the advantages and disadvantages of different credit arrangements in a range of circumstances.
Understand how to assess and control risk.
Assess the risks associated with credit provision in export, trade and consumer environments.
Assess the advantages and disadvantages of different sources of information used in credit assessment.
Explain the characteristics and importance of risk control methods.
Explain the factors that influence the choice of payment terms and methods of payment in the control of risk.
Evaluate sources of finance for credit.
Understand the different documents and systems used for trade, export and consumer credit.
Assess the design and purpose of documents used in trade, export and consumer credit.
Evaluate the importance of a customer master file.
Explain how the principal features of a sales ledger/accounts receivable system assists the operations of credit function.
Understand collection and recovery methods.
Assess the advantages and disadvantages of different collection methods.
Assess the effectiveness of methods used in collections letters and telephone collections work.
Explain how to manage reasons for non-payment and disputes.
Explain the steps for debt recovery and enforcement through the County Court and High Court in a range of circumstances.