Business Credit articles from November 2004

Business Credit archives from November 2004

The cornestone of fraud prevention.(the scoop)(National Association of Credit Management)(Brief Article)
November 1, 2004... Trusted, reliable, and dependable information is critical to making sound business decisions. Minimizing risk to acceptable levels requires research, examination and investigation. NACM's Asset Protection Group provides you with invaluable...

Cash flow and credit risk.(the scoop)(Brief Article)
November 1, 2004... What's behind those numbers? How do you analyze a financial statement? Sign up for NACM's Mid-Career School and learn how to analyze and interpret financial statements and provide a quality credit risk assessment. Gain comprehensive...

What you don't know can hurt you.(the scoop)(Government Business Group )(Brief Article)
November 1, 2004... Knowing and understanding your contract with the Federal Government, and all the players involved, is imperative if your company expects to get paid. NACM's Government Business Group (GBG) can help you accomplish that. GBG understands that...

CFOs look for communication, problem-solving skills in senior-level candidates.(the scoop)(Chief financial officers )(Brief Article)
November 1, 2004... Executives who communicate well and articulate their experience and ability to resolve business challenges have the advantage in job interviews, a new survey from Robert Half Management Resources shows. Chief financial officers (CFOs) were...

It's almost 2005.(the scoop)
November 1, 2004... As you prepare your planning calendar for the new year, make sure you include NACM events and budget for them early. Not to be missed is the annual Credit Congress and Expo, held this year in New Orleans, June 12-15! Upcoming Programs for the...

NACM Calendar.(Calendar)
November 1, 2004... DECEMBER December 13, 2004 Teleconference: Bankruptcy Update: Point/Counterpoint Presenters: Bruce Nathan, Esq., Lowenstein Sandier PC and Wanda Borges, Esq., Borges & Associates, LLC For more information, please contact the...

Chairman's message: time for reflection.(Commentary)
November 1, 2004... Dear Members, I would like to start by saying thanks to you, the membership. As another year draws to a close, I'm reminded of the opportunities I've had to meet and work with many of you throughout this past year. I am continually...

Want a better contract? You've got to make your case.(required reading)
November 1, 2004... "If this is the best of all possible R worlds, what can the rest be?" --Candide, Voltaire As every experienced subcontractor knows, good subcontract agreements do not appear out of thin air. They are crafted and negotiated. This may not be...

Evidence-based performance measures.(required reading)
November 1, 2004... Proof of performance or the absence thereof: that's what you get with well-defined performance measures. Properly constructed performance measures describe targeted outcomes in both quantitative and qualitative terms, permitting a fair and...

ASA asks Ohio Supreme Court to invalidate frivolous claims for "economic losses".(Construction Corner)(American Subcontractors Association)(Brief Article)
November 1, 2004... On Oct. 12, ASA filed an amicus curiae, or "friend of the court," brief urging the Ohio Supreme Court to dismiss a lawsuit (Dublin Suites, Inc. v. Shook, Inc.) that "turns the law of contracts on its head." In the lawsuit, a project owner is...

Small steps, big rewards: seven tips for enhancing credit and collections through improved communication.(selected topic)
November 1, 2004... As the economy improves and business accelerates, this is an opportune time for companies to enhance their credit and collections function. With more potential customers to evaluate, and a growing number of payments to collect, it's essential...

Legislative extension on Chapter 12 of the bankruptcy code.(Communique)(Brief Article)
November 1, 2004... On Monday, October 25th, President Bush signed into law the Family Farmer Bankruptcy Relief Act, S. 2864, legislation providing the extension until July 1, 2005, for Chapter 12, family farmer bankruptcy protections. The bill was introduced to...

Traits for the new breed of credit leaders.(Member Viewpoint)(Brief Article)
November 1, 2004... What are you doing to prepare yourself to be the best credit manager in 2005? This is the time of the year to create your guide for the New Year. I recently attended our national credit meeting in Chicago. We talked about many changes...

Record demand continues for government-backed small business loans.(Communique)(Brief Article)
November 1, 2004... The U.S. Small Business Administration reported that since the start of the fiscal year, during the period of October 1 through October 22, the agency approved a total of 6,215 loans for a total dollar amount of $1.036 billion in its flagship...

Benchmarking: from apples to oranges to lemons.
November 1, 2004... Every credit manager should be a control freak. The consummate professional needs diligence, judgment, good customer relationships, common sense, foresight and plenty of intuition. But ultimately it is essential to be in control of all the...

Forecasting: a critical link in Business Performance Management.(selected topic)
November 1, 2004... Today's rapidly changing business environment demands that organizations have a firm grasp of their internal operations while maintaining the responsiveness and flexibility to exploit market trends and opportunities as they present themselves....

Building entrepreneurial enterprises: lessons from AT&T and Enron.(selected topic)
November 1, 2004... More than ever before, sustaining success in today's marketplace demands that every company build capability for sustainable entrepreneurship. Yet this capability seems to be extremely elusive. Why? When studied from the right perspective, some...

The reality of performance optimization.
November 1, 2004... What does 'good' look like? For years, business has taken for granted the customer's relationship in the buying and selling of products and services. Many take a snapshot look at marketing, operations, or automation, but few through the eyes of...

NACM's 109th Credit Congress & Exposition.(Calendar)
November 1, 2004... The Premier Event for Business Credit Professionals JUNE 12-15, 2005 ERNEST N. MORIAL CONVENTION CENTER NEW ORLEANS The 109th annual Credit Congress & Exposition, hosted by the National Association of Credit Management, is the...

Selecting and utilizing a debt collection agency.(required reading)
November 1, 2004... What is the best way to select and utilize a collection agency? This is not always an easy question to answer. There really are several potential pitfalls for the unwary credit manager to become familiar with. Three of the key focal points...

Measuring credit and bankruptcy risk: is it "bad faith" for a solvent debtor to file Chapter 11?(Credit Column)
November 1, 2004... A fundamental responsibility for the credit executive is assessing a customer's credit risk. Based on the risk assessment, a credit professional concludes the length and amount of credit terms, if any--including whether a credit enhancement,...

Battered and coated French fries as a fresh vegetable eligible for PACA protection: are you kidding?(Credit Column)(Perishable Agricultural Commodities Act )
November 1, 2004... INTRODUCTION The Perishable Agricultural Commodities Act ("PACA") grants preferred trust fund protection to eligible unpaid sellers and suppliers of perishable agricultural commodities. If the buyer of perishable agricultural commodities...

Meet Barbara Condit, CCE.(Certified public accountants)
November 1, 2004... Barbara's been working in the credit field for 31 years in an assortment of industries, which include the automotive, building material/ready mix, corrugated container, hardware and waste services industries. Her original goal was to...

Metrics in credit and collection departments: what are the right ones and how do you implement?
November 1, 2004... Over the last several years, companies have had to evolve from functional to process organizations, driven by the realization that the business must be viewed and assessed holistically--as one being--to gain new efficiencies, further drive down...

Legislative Conference 2005: a dramatically different experience.
November 1, 2004... The Legislative Conference this year was dramatically different for several reasons. The most important consideration was the timing of the conference: in the past this conference has always been held in the late winter or early spring, and...

CICPs.(Certified International Credit Professionals)
November 1, 2004... September 2003--September 2004 FCIB is pleased to recognize the Certified International Credit Professionals[R] (CICP) who have successfully completed the FCIB online course in International Credit and Risk Management[R] and passed the...

Mexico in the world economy.(International Section)
November 1, 2004... Mexico's economy and business environment remain closely tied to the United States, but signs are emerging that Mexico is succeeding in its attempt to break away from the U.S. business cycle and establish itself as a major trading nation in the...

Worldwide credit conditions: at a glance.(Illustration)
November 1, 2004... ECONOMIC GROWTH GDP % change from previous quarter Q3 03 Q4 03 Q1 04 Q2 04 U.S. 2.0 1.0 0.8 0.7 Canada 0.3 0.4 0.7 1.1 Mexico 0.4 1.2 1.3 1.2 EU 15 0.4 0.4 0.4 ...

2005 forecasts.(Credit Briefings)(Brief Article)
November 1, 2004... The economic forecast for 2005 includes moderately lower U.S. and global GDP increases, higher-interest rates, rising inflation and lower profit margins, In September; the International Monetary Fund revised downward its earlier- forecasts and...

Consumer credit.(Credit Briefings)(Brief Article)
November 1, 2004... U.S. consumer credit dropped an annual rate of 1.4% in August, the largest decline in six years. Revolving credit fell sharply while nonrevolving credit registered slow growth. Fay Hansen is a business and finance writer based in Cresskill,...

S. Africa improvements.(Credit Briefings)(Brief Article)
November 1, 2004... With increased global demand for both its raw materials and manufactured goods, South Africa registered GDP growth of 3.0% for 2004, up markedly from 1.9% last year: Inflation remains under- control. Foreign direct investment rose modestly and...

Indian growth.(Credit Briefings)(Brief Article)
November 1, 2004... India's GDP rose at an annual rate of 7.4% during the second quarter off 2004, with strong manufacturing and service sector growth compensating for slower agricultural growth. Although the second quarter rate was slower than the first quarter's...

M&A activity.(Credit Briefings)(Brief Article)
November 1, 2004... For the first eight months of this year; U.S. companies announced 6,530 mergers and acquisitions valued at $555.8 billion, up from 5,529 deals worth $278.3 billion for the same period in 2003, according to Mergerstat. Although some...

A great reputation speaks for itself.(Robert Half Finance & Accounting Marketplace)
November 1, 2004... For more than 50 years, Robert Half Finance & Accounting has been the world's first and largest recruiting firm specializing in the placement of accounting and finance professionals. Listed below is a sampling of positions available through...

Survey of tax directors finds tax risk management gaining prevalence in governance; requiring changing roles and responsibilities of executives.(Communique)
November 1, 2004... Ernst & Young announced the results of a worldwide independent survey of corporate tax directors, which found that as legislative and regulatory changes around the world have made tax risk planning an urgent and top priority, many companies are...

Contract languages can make subcontracotors responsible for cost of design changes.(Construction Corner)(Brief Article)
November 1, 2004... Is your firm providing design-build warranties for design-bid-build projects? Language in written subcontracts can force subcontractors to pay for added building costs resulting from changes to faulty or incomplete designs. In particular,...

Hot spots: Turkey.(Business Credit)
November 1, 2004... Effective January 1, 2005, the Turkish lira will be stripped of six of its zeros, meaning that one million old traits will become one New Turkish Lira (YTL). Put differently, the current exchange rate with the dollar of roughly TRL 1,460,000...

Use weighted averages to determine transfer pricing.(selected topic)
November 1, 2004... How should companies price goods that they ship between their own divisions or related companies? Internationally that quandary confronts the producers of nearly hall of all U.S. imported goods, a third of all U.S. exports, and a huge...

Business credit basics.(Five Days)(Brief Article)
November 1, 2004... Offered in New Orleans in June, this five-day, intensive certificate session offers those new to the business credit arena a comprehensive look at the fundamental principles of commercial credit. Led by a veteran credit pro, participants will...

Intermediate financial statements: interpretation and credit risk assessment.(Five Days)(Brief Article)
November 1, 2004... Building on basic knowledge of accounting and financial statement analysis skills, this five-day course enhances a credit professional's ability to analyze company financial statements, or pro form as, to arrive at a creditworthiness decision....

Business credit basics at your own pace.(Self-Study)(Brief Article)
November 1, 2004... Offered as a self-paced study course, participants listen to lectures presented by an instructor viewed on CD-ROMS. PowerPoint presentations reinforce the audio portion of the course. Based on the NACM text, Principles of Business Credit, this...

Basic financial accounting.(Online, On Target)(Brief Article)
November 1, 2004... Over 10 weeks you or your staff can take this college-level, basic financial accounting course from the convenience of your computer--no travel, no classroom--but with the benefit of online contact with other students and a facilitator....

Basic business law.(Online, On Target)(Brief Article)
November 1, 2004... This course covers the essentials needed to understand the law of contracts. Spanning 10 weeks, participants learn about the essentials needed to form every business contract as well as the Uniform Commercial Code, with an emphasis on Articles...

Business credit law.(Online, On Target)(Brief Article)
November 1, 2004... This course is a continuation of the concepts covered in the Business Law course. Presented over 12 weeks, Credit Law looks more closely at negotiable instruments, debtor-creditor relationships, and government regulations. Course registration...

International credit & risk management.(Online, On Target)(Brief Article)
November 1, 2004... FCIB, NACM's international arm, has developed this online course in International Credit and Risk Management in partnership with the U.S. Dept of Commerce and Michigan State University. This is a 13-week, instructor-led course providing...

Keep your borrower close and 'your equipment provider closer.(Selected topic)
November 1, 2004... Are a "credit lender," or "asset lender?" The correct answer should always be BOTH! Credit professionals are asked on a daily basis to underwrite loans and leases for collateral that is being purchased from equipment manufacturers,...

Small business outlook: continued confidence in the future of the U.S. economy.(Communique)
November 1, 2004... Small business owners maintain a positive outlook for business growth despite an uneven economic recovery, heightened govt. regulation and slower-than-expected business spending, according to CIT's 2004 Small Business Outlook, a nationwide...