The Evaluation Of Credit Management And Profitability Of Pharmaceutical Firms

📄 Project Abstract

Credit management is a term used to map out a number of accounting roles as well as functions mainly conducted under the coverage of accounts receivables. In essence, this collection processes involves qualifying the extension of credit to a customer, monitors the reception and logging of payments on outstanding invoices, the initiation of collection procedures, and the resolution of disputes or queries regarding charges on a customer invoice. When functioning efficiently, credit management serves as a good way for business to remain financially stable. Thus, credit management is necessary in the growth of the business. Credit management aims at not only to protect the firm from possible losses, but also protect the customer from creating more debt obligations that cannot be settled in a timely manner. Asthis is a problem which has resulted in the liquidity strain of many businesses due to improper regulation of their levels of account receivables. Therefore,the management of account r...