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Aug 01 2016
Published by NACM Business Credit Services and ICEL 
E-News August 2016

In This Issue

Best Practices of Great Leaders
- Mentors
- ICEL Recap: Test Your Credit Knowledge
- A Newbie's Look Into Commercial Credit
- We're OK, We Have Their Check
- Prepared for the Storms?

Looking Ahead

Aug 11 - ICEL: Understanding Gender Differences When Negotiating Info 

Aug 24 - Fall Semester Begins - view class schedule

Sep 8 - ICEL: In The Trenches info 

Sep 13 - Certification Exam Paperwork Deadline for November 7, 2016 exam info 

Sep 16 - NACM Fall Outing - Golf, BBQ & Bingo info

Oct 12-14 Western Region Credit Conference

Why should I submit potential members to NACM?"

Help gain information on your customers. As a member, their information could help build the database on your customers. It's not just a one-way street. more Info



Best Practices of Great Leaders

by Patty Fullmer, CBA, BMC

NACM Credit Congress 2016 - As the credit management field continues to change, it is necessary that we stay up to date with what is new and what will help us build a successful career. 20 Key Research Findings (Best Practices) for getting the best results . . . read full article  

ICEL Chair Message
By Shane Norman, CCE, Wheeler Machinery

I believe everybody functions better with a mentor or two in their lives. First, what is a mentor? This is someone who supports, advises, councils and challenges you. Someone with a higher level of knowledge, skill, attributes and competence than you that is willing to impart and share this information with you. A personal cheerleader of sorts. I believe there are different types of mentors for different facets of your life. You can have one for work and a different one to help you raise teenagers. If you don't have a mentor - get one! read full article 

ICEL Recap:

Test Your Credit Knowledge

by Rhonda Calwell, CCE, Nicholas & Co.

This year we had approximately 40 members attend creating 6 teams. The five categories consisted of Principles of Business Credit, Financial Statements, Business Law, Credit Law and Accounting. The questions were challenging and thought provoking. The real "stumper" of the day was "An account entry with a positive value for assets and a negative value for liabilities and entities." This was the only question that circled around the room without the correct answer. Answer . . . read full article

A Newbie's Look into Commercial Credit

by Denise Durrant, Wheeler Machinery

During my 15 year accounting career, I've been tasked with collecting accounts receivable. It wasn't until last year that I gained a broader understanding of how that task can affect the entire company as a whole. During the last year, while working as an Account Coordinator for Wheeler Machinery Company, I've had the opportunity to experience and learn what it means to "protect the company's accounts receivable investment." I'm not sure where I heard or read that for the first time, but it helped me to gain a new appreciation and understanding of the complex and ranging responsibilities of a company's credit department and its employees. Read full article  

We're OK, We Have Their Check

Let's face it! . . . Bounced checks that are COD counter checks or taken on site are tough collections. 

Customer applies for credit ... we decline open credit and offer cash terms (CIA - COD) - so - we're OK, we have the check . . . OR . . . Customer purchases and pays by check directly at our counter - we're OK, we have the check . . . Until it bounces . . . real full article  

Prepared for the Storms?
By Mark Jones, Geneva Rock Products, Inc.

I came across an allegory that has been used many times throughout the years. The author is unknown, but the message has always made me think about my own situation. My version is this: There was a young man looking for a job and saw an opening as a farmhand.

When he met with the farmer and his wife, they were very impressed with him until he said "I can sleep through a storm . . . read full article