- Overview of credit management process:
- Steps involved (risk assessment, credit granting, monitoring, collection)
- Role in business success (cash flow, profitability, customer relationships)
- Key concepts:
- Credit risk: The potential for loss due to a debtor's failure to repay.
- Credit policy: Guidelines for extending credit, setting limits, and managing risk.
- Collections: The process of recovering overdue payments.
- Introduction to financial assessments:
- Brief overview of financial statements (balance sheet, income statement, cash flow statement)
- Key financial ratios (liquidity, profitability, solvency)
- Discussion of different legal structures:
- CIPC registration (companies) vs. sole proprietorships
- Implications for creditworthiness and risk assessment
