The course is designed to develop your knowledge and understanding of Accounts Receivables Management and best practices in Accounts Receivables Management. You will also learn how to apply them, as well as the concepts and principles which underpin them. This course will also help accounting and finance professionals identify issues which may require preventive action. This course will also provide you with the necessary analytical framework and a wide array
of practical tools to help you understand and develop effective credit policies that meet company’s objectives. Apart from above this course will also help the participants to:
- Define the function of Accounts Receivable (AR) and its role in organizations.
- Maintain effective collection policy.
- Evaluate the Accounts Receivable process and implement best practices.
- Apply tools and techniques to effectively monitor AR performance.
Who Should attend
This highly practical program has been specifically designed for:
- Accounts Receivable (AR) department managers
- Credit managers
- AR staff
- AR and revenue accountants
- credit officers
- billing and collection clerks
- AR specialists
- and professionals in accounting, finance, operations and sales who interact with
- Chief Accountants
- Finance Managers
- Financial Controllers
- Senior Management of Non-Finance also can attend
Accounts Receivable – Value Addition
- Overview of Accounts Receivables Management
- The role and purpose of credit in business
- Accounts Receivable Process Analysis
YOU MADE THE SALE, IT’S TIME TO COLLECT YOUR MONEY
Successful Credit Policy – Key Elements
- Creating credit policies that work with your sales teams
- Designing a good credit application and critical terms to include
- Developing your refund policy
PRACTICAL QUESTIONS, EXAMPLES AND CASE STUDIES
Know Your Customer – Prepare a Checklist
- Understanding the types of information available about your customers
- Trade references and third party reports
- Financial Statements: What to Look for
- Detecting early warning signs and acting upon them
Customer Interaction – Integrity
- Customer profiling: What is your customer’s mindset? Why do they not pay on time?
- Dealing with difficult customers
- How to negotiate with customers
TIPS, TECHNIQUES AND GUIDELINES FOR FASTER COLLECTION
Improving performance, efficiency, and accuracy in your processes
- Maximizing staff productivity and collections
- Increasing the efficiency of your credit collection
- Relationship of Cash flow and Credit Policy
- Minimizing fraud in accounts receivable
- Establishing key performance measures for credit management
- Outsourcing of Accounts Receivable Functions
Mirza Farrukh Baig, FCA
Certified in Entrepreneurship
The benefit of learning it from career banker is that you only get what is need on job, with no irrelevant bookish stuff!
Farrukh is a qualified Chartered Accountant and a career banker. He has over fifteen years of professional experience in SME credit, banking, accounting, audit, finance and management consulting.
He has served for eight years in a leading commercial bank in UAE where he was instrumental in strengthening the SME credit risk unit. Apart from approval of banking facilities for SME clients he played instrumental role in developing and implementing the SME credit risk policy of the bank. Apart from looking after SME credit risk function, Farrukh was also involved in corporate lending decision making and served as member of Central Credit Committee of the bank. He has been part of large corporate lending unit looking after syndication, services segment, marine, precious metals and contract financing. Currently he is the CEO of Lynchpin Training & Consulting. Farrukh is a Fellow member of the Institute of Chartered Accountant of Pakistan (ICAP). He has been awarded gold medal for outstanding performance in his CA final examination, by ICAP.