Credit Control an der University Of Johannesburg | Karteikarten & Zusammenfassungen

Lernmaterialien für Credit Control an der University of Johannesburg

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Introduction to credit assessment 

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A process to determine if an individual or business is eligible for credit 

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Two types of assessment 

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1. Assessment of new customer

2. Assessment of a new customer

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Factors that have a negative effect on credit decisions 

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1. insufficient information

2. Information incorrectly interpreted

3. False information

4. out-of-date information 

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If there is a change in credit
standard, the following changes can take
place:

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– A change in the volume of sales
– A change in the level of debtors
– A change in the possibility of late payments and
bad debts

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The enterprise`s credit terms determine
the following:

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– The form/type in which credit is granted
– The credit period
– The method of payment
– Cash discount and the discount period
– Interest charged
– Seasonal offers

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Information that the enterprise has to obtain 
from external sources

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Trade references

Credit bureaus 

Commercial banks 

Employers

Deeds Office

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The credit standard


 

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the minimum requirements that the    
person or enterprise must meet to qualify for    
credit


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THE 7 C`s

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CHARACTER 

CAPACITY  
CREDIT   HISTORY  
COMMON   SENSE  
CAPITAL  

COLLATERAL  
CLIMATE

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8 factors taken into account to 
determine the quality of credit risk for another enterprise

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1. The integrity of the enterprise and its
management

2. The business risk

3. The profit or income potential of the
enterprise

The security that the enterprise can offer

The enterprise`s financial statements

The auditor's report

The enterprise's cash flow

8. Competition

9. Cost

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Three steps in the process of credit assessment 

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1. Collecting information 

2. Analyzing information

3. Decision making 

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Sources of information 

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1. Information that the enterprise already has   available


2. Information that the enterprise has to obtain 
from external sources

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Information that the enterprise already has
available

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1. Personal information

2. Information from a credit interview

3. Information provided by the sales staff

4. Information that the credit department can
obtain

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Beispielhafte Karteikarten für deinen Credit Control Kurs an der University of Johannesburg - von Kommilitonen auf StudySmarter erstellt!

Q:

Introduction to credit assessment 

A:

A process to determine if an individual or business is eligible for credit 

Q:

Two types of assessment 

A:

1. Assessment of new customer

2. Assessment of a new customer

Q:

Factors that have a negative effect on credit decisions 

A:

1. insufficient information

2. Information incorrectly interpreted

3. False information

4. out-of-date information 

Q:

If there is a change in credit
standard, the following changes can take
place:

A:

– A change in the volume of sales
– A change in the level of debtors
– A change in the possibility of late payments and
bad debts

Q:

The enterprise`s credit terms determine
the following:

A:

– The form/type in which credit is granted
– The credit period
– The method of payment
– Cash discount and the discount period
– Interest charged
– Seasonal offers

Mehr Karteikarten anzeigen
Q:

Information that the enterprise has to obtain 
from external sources

A:

Trade references

Credit bureaus 

Commercial banks 

Employers

Deeds Office

Q:

The credit standard


 

A:

the minimum requirements that the    
person or enterprise must meet to qualify for    
credit


Q:

THE 7 C`s

A:

CHARACTER 

CAPACITY  
CREDIT   HISTORY  
COMMON   SENSE  
CAPITAL  

COLLATERAL  
CLIMATE

Q:

8 factors taken into account to 
determine the quality of credit risk for another enterprise

A:

1. The integrity of the enterprise and its
management

2. The business risk

3. The profit or income potential of the
enterprise

The security that the enterprise can offer

The enterprise`s financial statements

The auditor's report

The enterprise's cash flow

8. Competition

9. Cost

Q:

Three steps in the process of credit assessment 

A:

1. Collecting information 

2. Analyzing information

3. Decision making 

Q:

Sources of information 

A:

 

1. Information that the enterprise already has   available


2. Information that the enterprise has to obtain 
from external sources

Q:

Information that the enterprise already has
available

A:

1. Personal information

2. Information from a credit interview

3. Information provided by the sales staff

4. Information that the credit department can
obtain

Credit Control

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