Businesses take on many forms ranging from sole proprietorships,
partnerships, and close corporations to companies. The ability of
these forms of business ownership to obtain and service credit
depends not only on their financial circumstances, but also the
knowledge and ability of the credit provider to assess the
business' creditworthiness. For a business to be successful it must
make a profit. The profit on a sale is not earned unless the money
for the sale is in the bank on due date. It is also true that the
longer it takes to collect the money from a debtor, the more
difficult it becomes. Applied credit management teaches the learner
all aspects of the credit management function of an organisation,
from the evaluation of the new application, the investigation of
the creditworthiness of the customer, the final approval or
rejection to the collection and ultimate litigation of an account.
All aspects of the National Credit Act (Act 34 of 2006) have been
incorporated in the principles of this book.
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