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Read Between the Lines: Anticipate Bankruptcy Before It Happens

Bankruptcy has evolved from a steady deterioration of financial strength and increasing past due receivables, into a proactive finance tool to reduce onerous debt. Companies filing Chapter 11 may have payments that are current or slightly past due. Many suppliers are taken by surprise when they receive notice of the bankruptcy filing. How can you avoid being caught by surprise?

As a company seeks new markets and customer segments to increase revenue, the risk of bad debt loss can increase. In addition, long-time customers may be declining as the markets change. Both conditions can lead to elevated risk of bad debt loss.

In the past, there were usually plenty of warning signs that a customer was sliding toward bankruptcy. Steadily slower payments, increasing past due receivables and negative trade reports were telltale signs of potential bankruptcy.

However, today, many bankruptcies are filed without the telltale warning signs. How can you spot the candidates for bankruptcy in the absence of these warning signs?

Learning Objectives:

  • You will be able to identify potential bankruptcy candidates in the absence of the traditional warning signs.
  • You will be able to review sources of information (both public and private) which can warn of a potential bankruptcy.
  • You will be able to discuss taking actions to reduce bad debt exposure and loss when warning signs are spotted.
  • You will be able to recognize the top ten warning signs of an impending bankruptcy.

Runtime: 58 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview and Objectives of the Webinar

  • The Changing Role of Bankruptcy

How to Spot a Potential Bankruptcy

  • Collections as Your Eyes and Ears
  • The Role of Sales
  • Credit Analysis
  • Top 10 Warning Signs

Actions to Mitigate Loss

  • Assessment of Risk and Timing
  • Speed of Action

Wrap-Up

External Information Sources

Questions and Answers

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on February 20, 2014.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

John G. Salek

John G. Salek

Revenue Management Associates, LLC

  • President of Revenue Management Associates, LLC, a Receivables and Order to Cash Consultancy
  • Highly experienced financial professional with proven performance in revenue management, including order and contract processing, billing, dispute management, credit control, collections and cash application
  • Worked in a broad range of industries with more than 250 clients, including IBM, GE, Hewlett-Packard, Cardinal Health, Thomson Reuters, Starbucks, Honeywell and EMC
  • 30 years of consulting experience including a variety of engagements that have generated more than $800 million of increased cash flow, improved productivity and enhanced customer service
  • Author of Accounts Receivable Management Best Practices published by John Wiley & Sons
  • Member of advisory board of The Accounts Receivable Network (TARN) and the IOFM
  • Speaker at the NACM, Insurance Collection Executives, the International Quality & Productivity Center, Broadcast Cable Credit Association and others
  • M.B.A. degree in Finance, The Amos Tuck School of Business Administration at Dartmouth College; B.S. degree in Business Administration, University of Connecticut
  • Can be contacted at 203-231-8138 or [email protected]
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 392867
Published 2014
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