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ACCA - Wolters Kluwer Joint Event: Mitigating Your Risks when Extending Credit

A Practical and Sensible Approach in Credit Evaluation and Management

Expert Speaker Peter Fong

$428.00 (including GST)

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ACCA members will enjoy the members' fee of $363.80 (including GST). Kindly key in the promo code "ACCA19" during registration. You will be requested to furnish your ACCA membership number upon receipt of our confirmation.

Overview

Knowing how to manage your credit risks can enhance and grow your business. On the other hand, if hazardously done, it can cause a lot of damage and may even threaten the survival of your business. This can happen when the more you sell, the less you make as a result of an over-generous extension of credit, resulting in an abnormally high level of bad debts later on!

This workshop will give you practical insights on how you can effectively evaluate and manage credit risks when your organisation extend credit. With the use of various case examples, the Trainer will share practical pointers on credit risks can effectively managed and controlled in real life. 

What You Will Learn

By the end of the workshop, you will:

  • Appreciate the importance of the Credit Department, especially in a volatile business environment
  • Understand the practical steps to be taken in evaluating credit risks
  • Learn how to effectively mitigate your organisation’s exposure to credit risks

Programme Outline

Credit Risk Management in a Volatile Business Environment 

  • Cost of credit and profitability 
  • Credit planning and profiling 
  • Credit selection - policy & procedures 
  • Credit maintenance – collection and control

Evaluating Credit Risk 

  • The credit screening process 
  • Qualitative assessment - detecting the red flags in your clients’ businesses 
  • Quantitative assessment - Using financial statements to uncover the creditworthiness of your clients
    • Some trends to look out for
    • Considering risk mitigating factors

Collection Management 

  • Monitoring and managing your receivables 
  • The collection 
    • The Process
    • Be concerted, penetrative and effective
  • Legal recovery options 
    • To sue or not to sue 
    • Writ of seizure and sales, bankruptcy, etc

Practical Cases and Examples

Expert Speaker

Peter Fong  is an Associate of the Chartered Institute of Bankers, London. He is the Principal Consultant of a consultancy, and specialises in providing advisory, training and support services to SMEs and corporates. Since 2003, he has been helping SMEs to grow their businesses and improve business competitiveness. Peter is also actively involved with corporates to resolve their financial, credit and receivables management problems. He regularly helps firms on matters such as financial restructuring and new business start-ups. Peter is a highly sought-after speaker for financial management courses for non-finance managers. He actively conducts courses for training institutions and multinational companies like Coates Brothers, Fuji Xerox, Intel, Hewlett Packard, Teradyne, SIA Engineering Company etc.

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