[01] INTRODUCTION
Credit Management or Credit Control is a key function in any company that must deal with credit sales. This is more so in an economic crisis, and the role of credit management cannot be overemphasized. While revenue and profit are important, cash flow is equally important if not more at this time. Uncollected sales or worst bad debts may threaten the survival of a company if not managed timely and effectively.
This function is an integral part of the Finance Department which is responsible for the overall management of funds within the company. However, this function in many companies may not be well defined and the responsibility may in most cases fall upon on the accounts department. However, the department personnel may be ill-equipped to handle the function due to the lack of skills and understanding of credit play in the overall scheme of things in an organization.
With the right skill sets, designated personnel can play an effective role in this critical function by balancing between revenue, profit, and cash flow. This seminar aims to provide an understanding of credit risks, warning signs, tools, and strategies to be adopted both in the 2 key aspects of credit control - credit screening and collections.
[02] LEARNING OUTCOME
• Know the impact of trade debts on cash flow and profitability through an understanding of the Business Activity Cycle and Funding Gap
• Learn to set up a credit scoring system and apply credit screening techniques to evaluate the financial standing of customers
• Determine the credit limit and payment terms for customers based on sound and established criteria
• Identify insolvency signs and take appropriate and early action to minimize bad debt risk
• Know what are the effective credit and collection policies needed to be put in place
• Acquire negotiation, problem-solving and call making techniques to improve collections
[03] WHO SHOULD ATTEND
• Business owners and entrepreneurs
• Company directors and Professionals
• Finance Managers and executives
• Accountants and Accounts Executives
• Business managers / executives from all departments
• Anyone involved in credit control – collections and credit evaluation
[04] DATE/ TIME/ FEE
- Date: 19-20 Oct 2023 (Thu-Fri)
- Time: 9:00am - 5:00pm
- Mode: Online/ Interactive
- CPD: 14 Hours
Fee: [HRD Corp Claimable]
- Early Bird Offer (before 5 Oct 2023) - RM 1,150
- Special Offer (before 15 Oct 2023) - RM 1,240
- Normal Fee - RM 1,330
- Fee includes Course Notes & Certificate of Completion and 6% Service Tax
** OFFER **
- 10% Cashback for SST2u Learner Card+ (SLC+) members. T&Cs applied.
HRDCorp Claimable Course:
Trainer MyCoiD: 429594X
Course Scheme: HRDCorp Claimable Course
Course Type: Remote Online Training (Public)
Course Code: 10001142385
[05] COURSE OUTLINE
DAY ONE
Module 1: Understanding Credit Risk
• Defining credit risk
• Working Capital and Cash Flow
• Business Activity Cycle and Funding Gap
Module 2: Managing Bad Debt Risk
• The credit screening process
• Credit Management Tools
o Credit application form
o Credit Scoring system
o Credit audit / review
Module 3: Financial Analysis and Business Failure
• Financial statements and SSM report
• Key financial indicators
• Identifying warning signs
DAY TWO
Module 4: Managing Collections & Cash Flow Risk
• Collection – An overview
• Mindset and Attitude
• Policy Framework – Setting the policies and getting them right.
• Framework for Collection Activities
o Engaging the customer
o Problem solving & negotiation
o Collections Tools
o Making the Call
o Measuring the Outcome
• The Collections Officer
Module 5: Review and conclusion
• Right or Privilege – Getting it right?
• Customer management strategy
• Why Credit Control failed?
[06] TRAINER PROFILE
WINSON HAN
Chartered Accountant, Consultant, HRDF Certified Trainer
CA (M) CA (ANZ) B COM
Winson is a Chartered Accountant by profession and has over 30 years of experience having served in various roles as practicing accountant, company secretary, financial controller and management consultant. He presently consults and advises companies to better manage their businesses through an integrated process covering strategic planning; tactical design, planning (financial and otherwise) and implementation; and monitoring, review and analysis. A key focus of his consultancy is to help clients to better manage and utilize their cash resources and to restore a financially sickened company to good health.
Besides consulting, Mr. Han is also actively involved in conducting public and in-house seminars targeting the non-financial audience in financial management and analysis, financial planning & budgeting, cost management, SST/GST and credit and cash flow management.
He is a PSMB (HRDF) certified trainer and holds a degree in commerce from New Zealand and is a member of the newly merged institute known as “Chartered Accountants Australia and New Zealand” and Malaysian Institute of Accountants.
[07] ENQUIRY/ REGISTRATION
Email： yes@sst2u.com
Contact:
- General (03 - 8604 7370)
- Teo (011 - 3178 9203)
- Logesh (012 - 503 0346)
- Siti (012 - 383 8603)
- Han (019 - 323 0507)