Accounts Receivable Management and Collection TechniquesFinancial Management

Introduction

This is an intensive workshop on accounts receivable management. While sales are important, it is more crucial that the amounts sold on credit are ultimately collected on a timely basis with minimal bad debt losses.

The workshop trains participants on how to define a credit strategy, implement a credit policy, understand and interpret the fundamental information in financial statements, monitor accounts receivable outstanding and improve the effectiveness in the collection of accounts receivable.

Key Takeaways

Upon completion of this workshop, participants will be able to;

• To be able to define a credit strategy
• To be able to implement a credit policy
• To be able to understand and interpret the fundamental information in financial statements
• To be able to monitor accounts receivable outstanding
• To improve the effectiveness of the collection of accounts receivable

Who Should Attend

A person who is involved directly or indirectly with the responsibilities of sales, marketing, credit approval, credit review and collection.

Programme Outline

• Understanding the need for credit sales
• Understanding the need for a credit policy
• Gathering credit information
• Understanding financial statements
• Applying basic financial analysis of financial statements
• Monitoring accounts receivables
• Knowing the reasons for slow collections
• Pre-empting excuses for not paying promptly
• Seeing tell-tale signs of potential bad debts
• Using collection techniques
• Case Study & Practical Exercises

Please bring along a calculator.

Methodologies

Concepts and applications will be taught using simple analogies. Participants will each be given a set of course materials together with practical exercises to complete during the workshop. There will be a case study for participants to role play in debt collection.

Programme Trainer

Raymond Ang holds a Bachelor of Business Administration degree from the University of Singapore, as well as a Master of Applied Finance degree from Macquarie University, Sydney. He has more than 35 years of working and training experience in the areas of accounting and finance. He will share his past direct experience in the areas of credit and accounts receivable management at a factoring company and financial institutions.

Furthermore, he has conducted numerous training and seminars for training institutions, universities, corporate clients and the public. To make the training interesting, he uses simple daily analogies to explain complex concepts for easy understanding.