BSBFIM501 Assessment 4 Answers: Debtor Management Project
Complete the following activities:
- Write an Aged Debtor Report for the CEO.
Analyse the information in the Aged Debtor Summary.
Note that the company’s usual terms are payment 14 days from invoice.
Research best practice debtor management and then write an Aged Debtor Report.
Your report should include:
- An outline of the information in the Aged Debtor Summary.
- What this says about the company’s aged debtor processes.
- At least 5 recommendations that could be adopted by the company in response to your analysis. This should be based on the debtor management research you conducted.
Your aged debtor report should be approximately one-page long.
- Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should introduce and summarise the contents of the attachment and seek their approval to implement best practice debtor management processes.
Attach your aged debtor report to the email.
- Implement debtor management procedures
Assume that the CEO advises that, in response to your recommendations, debtor management procedures should be developed and implemented in relation to customer invoices.
You are required to develop simple debtor management procedures for customer payments. It should include a range of simple steps from a friendly reminder to sending a formal letter of demand.
Your debtor management procedures should be approximately one-page long.
- Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should introduce and summarise the contents of the attachment.
Attach your debtor management procedures to the email.
- Monitor debtor management procedures
Assume it is six months later and you are required to review a summary of current aged debts to determine the effectiveness of the implementation of the debtor management procedure.
Review the Aged Debtor Monitoring Summary.
Compare it against the previous Aged Debtor Summary to determine the effectiveness of the procedure.
- Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should summarise your findings regarding your analysis of the Aged Debtor Monitoring Summary.
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