Unit 15 Operating a Cash Management and Credit Control System
Course Summary
This unit is concerned with the management of cash and credit (granting credit and the collection of outstanding debts). There are four elements contained within the unit:
- Monitor and control cash receipts and payments
- Manage cash balances
- Grant credit
- Monitor and control the collection of debts
The first element is about drafting limited company year-end financial statements from a trial balance. Candidates are responsible for ensuring that the financial statements comply with any relevant domestic legislation, in addition to either the relevant UK standards or the International Accounting Standards.
The second element requires interpretation of financial statements of companies and the relationships between the elements using ratio analysis.
