27 - 31 Jan 2025
Kuala Lumpur (Malaysia)
Hotel : Royale Chulan Kuala Lumpur
Cost : 5250 € Euro
A sizable share of a company's working capital is tied up in Accounts Receivable (AR) and this poses a high liquidity risk. In this course, we expand your knowledge and expertise in AR. This will enable you and your organization to manage your accounts receivable effectively without compromising your credit sales.
This course demonstrates theoretical and practical core topics in addition to introducing Excel in managing accounts receivable. The course also features role-playing and presentations by participants.
By the end of the course, participants will be able to:
Accounts receivable 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 the accounts receivable and credit department.
Credit policies management
Credit department responsibility
Factors affecting credit policies
The five Cs of credit
Non-financial factors affecting credit decision
Outline of a credit policy
Credit department mission
Credit department objectives
Roles and responsibilities
Procedures
Measuring results
Review new accounts
Re-evaluate existing accounts
Financial statements: what to look for
Analyzing selected financial ratios
Setting the credit limit
Establishing a profitable relationship with the customer
Meeting the needs of the customer
The billing process
An efficient billing process means a faster collection
Preventing the fatal mistake: sending the bill with errors
The use of technology
Impact of up-front operations on the billing
Best practices in billing
You made the sale, now collect your money
Cash: it is worth your efforts
Tips, techniques, and guidelines for faster collection
Importance of setting a collection policy
Using different collection approaches
Strategies in dispute management
Best practices in the collection
Accounts receivable factoring, pledging, and assignment
The relationship between sales and credit
Breaking the ice
Maintaining credit sales relationship
Role of sales in issuing credit and in collection
Accounts receivable process analysis
Improving the quality of accounts receivable
Aging of accounts receivable and bad-debts reserves
Alternatives in computing bad-debt
Reducing bad-debt write-offs
Calculating accounts receivable turnover
Calculating Days Sales Outstanding (DSO)
Calculating Best Possible Days Sales Outstanding (BPDSO)
Collection Effectiveness Index (CEI)
Analyzing the operating and cash cycles
Managing AR through portfolio strategy
Analyzing the size, composition, and complexity of the AR portfolio
Segmenting the portfolio
Formulating an approach for specific segments
Staying in control
Internal controls in AR processes
AR and the monthly closing of accounts
Outsourcing of accounts receivable functions