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Aug 01 2014
Published by NACM Business Credit Services and ICEL 
E-News August 2014

In This Issue
- Say YES When You Mean YES
- Credit Confessions
- ICEL Meeting Recap: Test Your Credit Knowledge
- Solving the Mystery of the Statement of Cash Flows
- Utah Food Bank Drive
- Credit is Like Liver
- If at First You Don't Succeed
- ICEL Spotlight: Mark Jones, Geneva Rock Products, Inc.

Looking Ahead


Aug 14 - ICEL - In The Trenches
more info 

Aug 20 - Fall Semester begins
view class schedule 

Sept 11 - ICEL - Credit Metrics Speaker Shane Norman, CCE

Sep 15 - Professional Designation Paperwork Deadline for Nov 10 exam

Sep 19 - NACM Fall Outing and Golf Tournament  Dinner Prizes and Fun 

Oct 9 - Utah Food Bank Drive

Oct 29 - Credit Boot Camp


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



Say YES When You Mean YES

by Tyler Steenblik, CCE, Young Electric Sign Co.

You are in the office on a typical day. The phone is going nutso and people are constantly in and out asking for help with different items. The next man in your office has a reasonable request. He has been asking for your help for some time now and you just haven't had the time to look at it.

We all find ourselves in these situations. The thousand dollar question is --- what do you tell this man? Do you say, "I will jump on this right away," knowing that he is really still about 8th on the list of your priorities, or do you tell him that he is just out of luck for another day or so?  read full article  

Credit Confessions:
Never Underestimate a Motivated Collector

I was working as a collector for a manufacturing company. One of the customers that was assigned to me was a friend of the boss (FOB) and notorious for not paying his bill.

After several months of butting my head against the wall with the traditional methods of collections, I decided to play on his humanity. I called him and told him that by not paying his bill, he was costing me money and, quite possibly, my job. I told him that my boss (his friend) was holding this account over my head and that it was a do or die type situation. I pled with him, asking him to have a heart . . . read full article  

ICEL Meeting Recap:
Test Your Credit Knowledge

by Carolyn Thompson, Meadow Gold Dairies

ICEL's July meeting was the annual friendly competition of Test Your Credit Knowledge. Members came prepared to exercise their brains in the five categories that were presented in the game: Principles of Credit, Financial Statements, Accounting, Credit Law and Business Law.

As always, competition was fierce yet, friendly. Several answers were stolen by the bandit team . . . read full article  

Solving the Mystery of the Statement of Cash Flows

by Doug Darrington, CCE, Kilgore Companies

The statement of cash flows is part of the financial statement trio. That trio being the Balance Sheet, Income Statement, and Statement of Cash Flows. It measures the actual cash inflow and outflow during an accounting period. We all know that cash is king. We live and die by how much cash we can generate through our business. Therefore, cash flow from operations can be a critical measure of overall success.

To create the statement of cash flows, each balance sheet account is reordered into three different areas; operating activities, investing activities and financing activities. Operating activities are those accounts involved in the day-to-day operations . . . read full article  

Utah Food Bank Drive

Sponsored by ICEL

ICEL will be accepting donations of non-perishable items at the October 9th meeting at the Red Lion Hotel. From 7:30 pm to 9:00 pm that evening, volunteers will deliver the donations to the Utah Food Bank and help them organize, sort, and box food.

This is an amazing opportunity to make a difference in our community (volunteers are truly the heart of this great organization). The mission of fighting hunger statewide is possible due to the devoted time, talent, energy and resources from the community. NACM and ICEL members are welcome to volunteer. More information will be available as the date draws closer.

ICEL Chair Message:
Credit is Like Liver

by Shane Inglesby, CCE, Geneva Rock Products

To be told that you have brains is a compliment. To be told that you have a heart is very complimentary. It is not uncommon in our society to have these vital organs referenced as signs of intelligence or of being thoughtful, considerate or loving.

When was the last time you were told that you have a great liver? Seriously, when was the last time? Being told that you have a liver just isn't quite the same as being told you have a heart or have brains. 

Our livers go unnoticed until there is a problem and, typically, by then the options are rather grim . . . read full article   

If at First You Don't Succeed

by Whitney Davidson, CBF, Sunroc Building Materials

Over the weekend I was thinking how fast time has flown by, and then it hit me; I have my CCE exam coming up in November. It will be time to hit the books again and start the preparation and study process.

My journey for my designations started when I was working for xpedx in 2002 and my manager John "JJ" Jongejon told me how having my designations will help me move forward in my credit career. All I could think of was "When am I going to find the time to go back to school and work full time . . . read full article   

ICEL Spotlight:
Mark Jones, Geneva Rock Products, Inc.

by Ryan Palmer, CBF, LKL Associates

Mark has been with Geneva Rock for 22 years. Before that he was the Manager at Rare Coins and Precious Metals and also an X-Ray tech in the Army at Camp Zama, Japan.

Mark has a BS in Psychology from BYU (He'll try to use his skills on you so be careful!) and it only took 20 years and 184 credits to earn it! He only changed majors and minors a few times from Medical to Marketing to Business then Psychology. . . read full article