An investigation into the problem of debt collection in the Durban area, with the aim of suggesting cost-reducing alternatives
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Date
1982
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Publisher
Univeristy of the Western Cape
Abstract
The purpose of this study is to investigate the problems faced by businesses in the Durban area, in the field of Debt collection, with the aim of suggesting alternatives that would help reduce the cost of collections, as well as lead to the development of a sound system of credit approval. Accounts receivables is an important asset in the books of any organization. In some smaller companies it is often the single largest asset which the firm owns. It is therefore vitally important that top management pay attention to the development of sound business policies and procedures to control this asset and also make certified effort in developing the quality of personnel to head this department. It is hoped that the results of this investigation will point out to management some of the problems facing credit departments, and also provide them with some solutions and areas which need improvement. To achieve the aim of this study it was necessary to ascertain what practices and procedures were being followed by businesses with respect to credit and collections and to evaluate the strength and weaknesses of these procedures.
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Keywords
Durban, Debt, Business, Credit risk, Credit management