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Credit Management

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Mind Map on Credit Management, created by Jenna Eales on 11/08/2014.
Jenna Eales
Mind Map by Jenna Eales, updated more than 1 year ago
Jenna Eales
Created by Jenna Eales over 11 years ago
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Resource summary

Credit Management
  1. Creditum - Latin word meaning "Trust"
    1. Means of exchange to obtain goods.
    2. Credit Agreement
      1. National Credit Act no. 34 of 2005
        1. Credit Facility
          1. Credit Transaction
            1. Credit Guarantee
          2. Creditworthiness
            1. Buyers ability to pay
            2. Elements of Credit
              1. Cost
                1. Time
                  1. Risk
                  2. Types of Credit
                    1. Consumer Credit
                      1. Business Credit
                        1. Financial Credit
                          1. Export Credit
                          2. Advantages of Credit
                            1. Establish Credit Record
                              1. Finances Capital Requirements
                            2. Disadvantages of Credit
                              1. Costly - Interest
                                1. Ties up future income
                                2. Credit Policy
                                  1. Guideline for degree of risk
                                    1. Credit Terms
                                      1. Creditworthiness
                                        1. Collection Policy
                                      2. Credit Assessment
                                        1. 1) Collection of Info
                                          1. Direct
                                            1. Indirect
                                            2. 2) Analysing Info
                                              1. 7 C's
                                                1. Character
                                                  1. Capacity
                                                    1. Capital
                                                      1. Financial Ratios
                                                      2. Collateral
                                                        1. Climate
                                                          1. Credit History
                                                            1. Common Sense
                                                            2. Credit Grading/ Scoring
                                                              1. Financial Statements
                                                              2. 3) Make Decision
                                                              3. Collection of Debtors
                                                                1. 1) Reminder Phase
                                                                  1. Follow - up Phase
                                                                    1. Drastic Phase

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