The Controller's Primer for Sales, Collection, and Customer Credit 2 Credits
The Controllership Series
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Why do for-profit organizations exist???
To make money!!!!!
What a great concept.
However if the organization does not have the proper collections and credit procedures in place, they may not be able to access that money. Hence the credit and collection process is important.
Credit and collections are critical areas for financial statement controllers. Customer credit is a form of payment that allows small business customers to purchase a product or service before paying for it in full. The process works similarly to a credit card—you procure something and pay it back later. Collection is a term a business uses when referring to money owed to that business by a customer. When a customer does not pay within the terms specified, the amount of the bill becomes past due and is sometimes submitted to a collection agency.
The sales and collection process includes business activities related to selling products and services, maintaining customer records, billing customers, and recording payments from customers. It also includes activities necessary to manage accounts receivable, such as aging accounts and authorizing credit.
In this online CPE Accounting webinar, we will delve into the topics that impact the sales, credit, and collections process for management.
Major topics discussed in this online CPE course:
Join this CPE webinar of controllership series to discuss strategic steps that management can take to ensure their processes are efficient and that they can collect their revenue.
| License details | Credits | Status |
|---|---|---|
| Accounting for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Accounting for CPA in Canada | 2 CPD | Eligible |
| Financial Accounting for Certified Internal Auditors (CIA) | 2 CPE | Eligible |
| Financial Reporting for Certified Management Accountants (CMA) | 2 CPE | Eligible |
| Accounting for Chartered Financial Analyst (CFA) | 2 PL | Eligible |
| Accounting for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Accounting for Internal Audit Practitioner (IAP) | 2 CPE | Eligible |
| Association of Chartered Certified Accountants (ACCA) | 2 CPD | Eligible |
| Accounting for Certified Fraud Examiner (CFE) | 2 CPE | Eligible |
| Chartered Accountant - ICAEW | 2 CPD | Eligible |
| Accounting for Qualification in Internal Audit Leadership (QIAL) | 2 CPE | Eligible |
| Accounting for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Accounting for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| Financial accounting for Certified Valuation Analyst (CVA) | 2 CPE | Eligible |
| Financial Reporting for Certified Financial Forensics (CFF) | 2 CPD | Eligible |
| Accounting for CIPM | 2 PL | Eligible |
| Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 2 CPE | Eligible |
| Financial accounting concepts for Certified FP&A Professional (FP&A) | 2 CE | Eligible |
| Chartered Accountants - Ireland (CAI) | 2 CPD | Eligible |
| Chartered Accountants - Scotland | 2 CPD | Eligible |
| CPA - Ireland | 2 CPD | Eligible |
| License details | Credits | Status |
|---|---|---|
| Accounting for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Accounting for CPA in Canada | 2 CPD | Eligible |
| Financial Accounting for Certified Internal Auditors (CIA) | 2 CPE | Eligible |
| Financial Reporting for Certified Management Accountants (CMA) | 2 CPE | Eligible |
| Accounting for Chartered Financial Analyst (CFA) | 2 PL | Eligible |
| Accounting for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Accounting for Internal Audit Practitioner (IAP) | 2 CPE | Eligible |
| Association of Chartered Certified Accountants (ACCA) | 2 CPD | Eligible |
| Accounting for Certified Fraud Examiner (CFE) | 2 CPE | Eligible |
| Chartered Accountant - ICAEW | 2 CPD | Eligible |
| Accounting for Qualification in Internal Audit Leadership (QIAL) | 2 CPE | Eligible |
| Accounting for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Accounting for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| Financial accounting for Certified Valuation Analyst (CVA) | 2 CPE | Eligible |
| Financial Reporting for Certified Financial Forensics (CFF) | 2 CPD | Eligible |
| Accounting for CIPM | 2 PL | Eligible |
| Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 2 CPE | Eligible |
| Financial accounting concepts for Certified FP&A Professional (FP&A) | 2 CE | Eligible |
| Chartered Accountants - Ireland (CAI) | 2 CPD | Eligible |
| Chartered Accountants - Scotland | 2 CPD | Eligible |
| CPA - Ireland | 2 CPD | Eligible |
| License details | Credits | Status |
|---|---|---|
| Accounting for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Accounting for CPA in Canada | 2 CPD | Eligible |
| Financial Accounting for Certified Internal Auditors (CIA) | 2 CPE | Eligible |
| Financial Reporting for Certified Management Accountants (CMA) | 2 CPE | Eligible |
| Accounting for Chartered Financial Analyst (CFA) | 2 PL | Eligible |
| Accounting for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Accounting for Internal Audit Practitioner (IAP) | 2 CPE | Eligible |
| Association of Chartered Certified Accountants (ACCA) | 2 CPD | Eligible |
| Accounting for Certified Fraud Examiner (CFE) | 2 CPE | Eligible |
| Chartered Accountant - ICAEW | 2 CPD | Eligible |
| Accounting for Qualification in Internal Audit Leadership (QIAL) | 2 CPE | Eligible |
| Accounting for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Accounting for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| Financial accounting for Certified Valuation Analyst (CVA) | 2 CPE | Eligible |
| Financial Reporting for Certified Financial Forensics (CFF) | 2 CPD | Eligible |
| Accounting for CIPM | 2 PL | Eligible |
| Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 2 CPE | Eligible |
| Financial accounting concepts for Certified FP&A Professional (FP&A) | 2 CE | Eligible |
| Chartered Accountants - Ireland (CAI) | 2 CPD | Eligible |
| Chartered Accountants - Scotland | 2 CPD | Eligible |
| CPA - Ireland | 2 CPD | Eligible |
| License details | Credits | Status |
|---|---|---|
| Accounting for Certified Public Accountants (CPA-US) | 1.5 CPE | Approved |
| Accounting for CPA in Canada | 1.5 CPD | Eligible |
| Financial Accounting for Certified Internal Auditors (CIA) | 1.5 CPE | Eligible |
| Financial Reporting for Certified Management Accountants (CMA) | 1.5 CPE | Eligible |
| Financial Reporting for Accredited in Business Valuation (ABV) | 1.5 CPD | Eligible |
| Accounting for Chartered Financial Analyst (CFA) | 1.5 PL | Eligible |
| Accounting for Delaware Licensed Public Accountant (DE-LPA) | 1.5 CPE | Eligible |
| Accounting for Internal Audit Practitioner (IAP) | 1.5 CPE | Eligible |
| Association of Chartered Certified Accountants (ACCA) | 1.5 CPD | Eligible |
| Accounting for Certified Fraud Examiner (CFE) | 1.5 CPE | Eligible |
| Chartered Accountant - ICAEW | 1.5 CPD | Eligible |
| Accounting for Qualification in Internal Audit Leadership (QIAL) | 1.5 CPE | Eligible |
| Accounting for Iowa Licensed Public Accountant (IA-LPA) | 1.5 CPE | Eligible |
| Accounting for Maine Licensed Public Accountant (ME-LPA) | 1.5 CPE | Eligible |
| Financial accounting for Certified Valuation Analyst (CVA) | 1.5 CPE | Eligible |
| Financial Reporting for Certified Financial Forensics (CFF) | 1.5 CPD | Eligible |
| Accounting for CIPM | 1.5 PL | Eligible |
| Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 1.5 CPE | Eligible |
| Financial accounting concepts for Certified FP&A Professional (FP&A) | 1.5 CE | Eligible |
| Chartered Accountants - Ireland (CAI) | 1.5 CPD | Eligible |
| Chartered Accountants - Scotland | 1.5 CPD | Eligible |
| CPA - Ireland | 1.5 CPD | Eligible |
Credits
Course Level
Instructional Method
Pre-requisites
Advance Preparation
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Lynn Fountain has over 39 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing and risk management. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Lynn has held two Chief Audit Executive (CAE) positions for international companies. In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees. The fraud was formally investigation by the FBI and resulted in 5 indictments estimating a $13M fraud loss.
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Ms.
Fountain obtained her BSBA from Pittsburg State University and her MBA from
Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials.
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To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
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We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
AB
Sales and Collection Procedure is important to learn. This Module shows how the sales process flows through all the departments. Also it show which department is responsible for what function. The collection Process Involves the Accounts Receivable, Treasury, Credit Department and the Collection Agencies. It explains clearly the responsibility of all the above department in approving the credits, withdrawing the credit limits, classifying the customers as good, fair and poor and also how the collection process is initiated and finally how the debt is sold to the collection agency. This module and the handout materials are very useful for future references.
LG
Good review on the process of sales, receivables and collection. Very easy to answer questions, you do not even need to listen.
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