CREDIT MANAGEMENT & COLLECTION OF RECEIVABLES DR. RICHARD MAYUNGBE LAGOS‚ NIGERIA 26TH – 27TH OF JULY‚ 2010 INTRODUCTION Nearly every writer on the subject has worked out his own definition of credit. The following writers are examples: John Stuart in his Political Economy defines credit as the permission to use another’s capital. Joseph French Johnson in Money and Currency calls credit the power to obtain goods and services by giving a promise
Premium Debt Balance sheet Cash flow
Credit card‚ one of the greatest inventions in last century‚ is widely used in nowadays. The first credit card that can pay for different businesses was invented by Frank McNamara and Ralph Schneider‚ the founders of Diners Club‚ in 1950. After a long time development‚ it is believed that credit card is one of the popular tools for payment transaction. According to a research in 2008‚ there were around 80% of United State adult own at less one credit card (Foster‚ Meijer‚ Schuh‚ & Zabek‚ 2010). It
Premium Credit card Payment Money
PUBLIC SPEAKING Topic: The using credit card General purpose: To Persuade. Specific purpose: To persuade my audience about the using credit card Central idea : To persuade my audience about the benefits The benefits of using credit card Introduction: American Express‚ MasterCard and Visa Card are the more popular credit cards in Malaysia. With a credit card in hand‚ you can make purchases today and pay later‚ Body: 1) It makes shopping easy -
Premium Credit card
Introduction Credit repair can produce dramatic results‚ potentially transforming the appearance of your credit reports and boosting your credit scores. Credit repair may even deliver major results in a reasonably short period of time. But it is not a magic cure for your credit woes; you will need to do some work. It is important at the outset of a credit repair effort to have a realistic perspective. But don’t lower your expectations; just make the effort needed to produce genuinely awesome results
Premium Credit Credit history Credit score
HOW TO CREATE AN EFFECTIVE CREDIT & COLLECTIONS POLICY What Is A Credit & Collections Policy And Why Do We Need One? A Credit & Collections Policy should be an organized‚ repeatable practice or philosophy that a company adopts in order to control the risk it assumes when extending net payment terms to its customers. It can be as general or as specific as your company would like it to be. First and foremost‚ you should have a credit and collections policy in order to protect your accounts receivable
Premium Accounts receivable Sales Customer service
RISKS IN BANKING: CREDIT RISK MANAGEMENT Industry Best Practices BANGLADESH BANK CREDIT RISK MANAGEMENT Industry Best Practices PREPARED FOR: BANGLADESH BANK PREPARED BY: FOCUS GROUP ON CREDIT & RISK MANAGEMENT Team Co-ordinator: Team Members: Sudhir Chandra Das Ali Reza Iftekhar Niaz Habib A.G. Sarwar Brian J. McGuire Naser Ezaz Bijoy Page 2 INTRODUCTION: Risk is inherent in all aspects of a commercial operation‚ however for Banks and financial institutions‚ credit risk is an essential
Premium Risk management Risk Debt
BACKGROUND MONEY & ITS PURCHASING POWER M oney has entered into almost all our discussion. Economy evolved from barter to indirect exchange… indirect exchange to monetary economy… ultimately to a developed economy. Money is a commodity that serves as a general medium of exchange; its exchanges therefore permeate the economic system. Like all commodities‚ it has a market demand and a market supply‚ although its special situation lends it many unique features. “Price” has no unique expression
Premium Bank Credit card
Rural Credit in 20th Century India An Overview of History and Perspectives Mihir Shah‚ Rangu Rao and P.S. Vijay Shankar This brief overview of rural credit in 20th century India finds a remarkable continuity in the problems faced by the poor throughout this period. These include dependence on usurious moneylenders and the operation of a deeply exploitative grid of interlocked‚ imperfect markets. We articulate the theoretical and historical case for nationalisation of banks and provide evidence
Premium Bank Debt
Credit note From Wikipedia‚ the free encyclopedia Finance Financial markets[show] Financial instruments[show] Corporate finance[show] Personal finance[show] Public finance[show] Banks and banking[show] Financial regulation[show] Standards[show] Economic history[show] v t e A credit note or credit memorandum (memo) is a commercial document issued by a seller to a buyer. The seller usually issues a credit memo for the same or lower amount than the invoice‚ and then repays the money to the buyer or
Premium Wikipedia Invoice Bookkeeping
Since the advert of credit cards‚ using them as a means of purchasing goods has increasingly become adopted by a growing number of consumers. We have witnessed incredible advances in the field of credit cards that make our life easier. Nevertheless‚ there are disadvantages that must also be taken into account. There are many benefits to shopping on credit. To begin with‚ owing a gredit card gives you the convenience to buy now whatever you want and pay in the future. For example‚ a newly married
Premium Credit card Money Payment