Certificate Sessions Program Highlights

Financial Statement Analysis Highlights

NACM recently hosted a weeklong certificate session at its headquarters in Columbia, MD. Led by long-time NACM instructor and former NACM Chairman Jim McIntyre, CCE, the session, Financial Statement Analysis, focused on a number of skills necessary to succeed in the world of credit management that were a bit more advanced than those discussed in the first course in NACM's certificate series, Business Credit Principles, also taught by McIntyre.

Over the course of the week, McIntyre discussed the elements of accounting that affect credit professionals, including standard accounting processes, the different legal forms of business and the differences between them. McIntyre also led attendees through a document-by-document analysis of financial statements like the income statement, the balance sheet and the statement of cash flows. The mathematical analysis of the figures listed on financial statements was also a key component of the curriculum.

Heres what some of the past attendees had to say...

I could never have asked for a better experience, both in the knowledge gained through Jim (an A+ instructor) and by the hospitality and concern shown to us by everyone at NACM. I am so glad that I had the opportunity to attend the training and our every need was met.

This class was truly a rewarding experience. I feel I walked away with a ton of new knowledge that will not only serve my immediate work needs but will be an important part of my future development.

For more information on NACM's certificate sessions, click here.


Financial Statement Analysis 2: Credit and Risk Assessment

NACM recently held its Financial Statement Analysis 2 certificate session at its headquarters in Columbia, MD. Led by George Schnupp, CCE, the class offered students a more advanced look at credit risk assessment than its companion course, Financial Statement Analysis I.

This intermediate financial analysis program has been designed for credit analysts and managers seeking comprehensive understanding of what’s behind the numbers in financial reports. It is designed to improve the credit professional’s ability to analyze and interpret financial statements leading to quality credit risk assessment. The program gives equal weight to the process of financial reporting, the analysis and interpretation of financial statements and the steps required to write a quality credit line recommendation.

This program satisfies the intermediate course requirement for the Credit Business Fellow (CBF) designation. It is also an excellent preparatory class for the Certified Credit Executive (CCE) designation exam.

Heres what some of the past attendees had to say...

It was a very pleasurable and very useful experience. The organization of the event was great, and George was a very inspiring and motivating teacher.

I was so pleased with the class. George was wonderful… I would totally recommend this class to all credit people and controllers.

For more information on NACM's certificate sessions, click here.

General Information for Certificate Sessions

Tuition Information

The tuition for each program is 

Member: $1595
Nonmember: $1845

Includes: the cost of the program, materials and meals.

Hotel Information

Located in NACM’s “backyard,” the Sonesta ES Suites Columbia (formerly the Staybridge Suites Columbia Hotel Baltimore) is a newly renovated hotel that will be your home away from home during the program. Conveniently located in the Washington, DC/Baltimore corridor, the hotel is nestled within a residential area with easy access to major interstates (I70 and I95). Each suite comes with all the comforts of home. Enjoy amenities such as spacious floor plan, separate living/work space and free high-speed Internet access.

The Sonesta ES Suites Columbia Hotel
8844 Columbia 100 Parkway
Columbia, Maryland 21045
Phone: 410-964-9494

Learn what students have to say about the program here.

 

Hotel Reservations

Program participants may make their hotel reservations at Sonesta ES Suites Columbia. The hotel is adjacent to NACM Headquarters office where the program is being held. Call Sonesta ES Suites directly at 410-964-9494 to make your reservations. To ensure the conference rate of $119 for a studio suite, please make your reservation one month prior to arrival and mention NACM. After the deadline, rooms are based on availability and prevailing rates. Check in time is 4:00pm and check out is 12:00pm.

Transportation Information

The Sonesta ES Suites Columbia Hotel is conveniently located 12 miles from Baltimore/Washington International Airport. Taxis are available from the airport for approximately $40 one-way. You may also use “The Airport Shuttle” found on the lower level of the airport at baggage claim. Airport Shuttle vans will be parked on the inner curb at Door 11 (Baggage Claim area 10) and the Southwest baggage claim area. Contact The Airport Shuttle at 800-776-0323.

Program Cancellation and Refund Policy

Due to inherent costs associated with establishing and holding the program and refilling participant slots, the following cancellation charge schedule has been established:

  • $250 processing fee for cancellations received 21 days before the program start date.
  • No refunds within 21 days of the program start date. Qualified substitutions are permitted.

Classes fill up, so register early. Check the schedule!

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Business Credit Principles

About the Program

This intensive program offers a comprehensive look at the credit function. Upon successful completion, you should understand the role of credit in financial management, the components of effective credit department systems and procedures, specific government regulations that pertain to business credit, credit and policy procedures, selling terms, negotiable instruments, the Uniform Commercial Code, credit investigations, financing and insurance, business credit fraud, factors associated with credit limits, out-of-court settlements, and bankruptcy.

Program Instructor

James A. McIntyre, CCE is President of McIntyre Enterprises, LTD., a firm specializing in financial education, training programs and credit consulting. Mr. McIntyre formerly taught Fundamentals of Credit and Advanced Credit Analysis at North Hennepin Community College and is a member of NHCC Business School Accreditation and Advisory Committee. In addition, Mr. McIntyre currently teaches the NACM Credit Administration Program for Forius, formerly known as NACM North Central. He served as Chairman of the Board of the National Association of Credit Management from May 1996 through May 1997. Mr. McIntyre was awarded the Alice M. H. McGregor Award of Exceptional Achievement from NACM at the 1999 Credit Congress, and was the 2000 NACM/ Robert Half Finance & Accounting and Accountemps Co-Instructor of the Year.

Program Overview

This program satisfies a requirement for the Credit Business Associate (CBA) designation. Using the textbook, Principles of Business Credit, 7th Edition, published by NACM, participants will receive in-depth exposure to:

Credit in the Business World
Credit in the Company
Organizing the Credit Department
The Legal Environment of Credit
Credit Policy and Procedures
Terms and Conditions of Sale
Negotiable Instruments
The Uniform Commercial Code
The Legal Forms of Business
Credit Investigations
Know Your Customer
International Trade
Financing and Business Insurance
Business Credit Fraud
Making Credit Decisions
Customer Visits
The Credit and Sales Partnership
Out-of-Court Settlements
Bankruptcy Code Proceedings
Financial Statements
Financial Analysis Fundamentals
Analysis and Forecasting of Credit and Receivable Information

Program Prerequisites

There are no prerequisites for this course though a basic knowledge of accounting principles is helpful.

Program Schedule

Day One - Sunday
5:00 – 7:00pm
Welcome Dinner

Day Two - Monday
8:00 – 8:30am
Continental Breakfast

8:30am – Noon
I. Financial Overview

Credit in the Business World

  • Discussion of the role of commercial credit in today’s society for the financing of goods and services.
  • Discussion of the role of the Federal Reserve in expansion and contraction of the flow of funds.
  • Legal aspects of the Consumer Protection Act and its effect on Consumer and Commercial Credit.
  • Anti-Trust legislation.

Noon – 1:00pm
Lunch

1:00 – 5:00pm

Credit Policy

  • Defining credit policy in relationship to company goals and objectives.
  • Discussion of factors affecting credit policy.
  • Establishment of company credit policy and procedures.
  • Implementation of credit policy throughout the company.

Understanding Negotiable Instruments

  • Elements of negotiable instruments.
  • Understanding use of notes and drafts.
  • Legal implications of a negotiable instrument.

5:30pm
Dinner at a Local Restaurant

All dinners are held at local restaurants. A variety of dinner choices is always available.

Day Three - Tuesday
8:00 – 8:30am
Continental Breakfast

8:30am – Noon
II. The Credit Decision-Development

Decision Procedures

  • What is a marginal account?
  • Factors affecting the development of terms of sale.
  • Understanding the three areas of terms.
  • Uniform Commercial Code and its effect on terms of sale.
  • Benefits of proper terms of sale on company.
  • Use of guarantees and letters of credit.
  • What is a bank line of credit, factoring, ordinary accounts receivable financing?

Noon – 1:00pm
Lunch

1:00 – 2:15pm

Legal Forms of Business

  • Thorough study of legal forms of business structures—benefits and disadvantages of each.
  • How should the credit grantor react to each form of business entity when establishing credit availability amounts?

2:15 – 5:00pm
Comprehensive Review and Exam
This review and exam will cover the material presented in class on Tuesday and Wednesday.

5:30pm
Dinner at a Local Restaurant


Day Four - Wednesday
8:00 – 8:30am
Continental Breakfast

8:30 – 5:00pm
III. The Credit Decision - Investigation

  • Understanding the 5 C’s of Credit.
  • Rethinking the credit application.
  • Direct credit investigation.
  • Indirect credit investigation.

IV. The Credit Decision - Financial Statements: Understanding
Fundamentals of Financial Analysis

  • Auditor’s opinion statements.
  • What is a balance sheet?
  • What is an income statement?
  • What is a statement of cash flows?
  • Understanding financial ratios.
  • Case Analysis—Utilizing all of the credit decision tools.
  • Establishing the credit availability amount.

Noon – 1:00pm
Lunch

5:00pm
Dinner at a Local Restaurant


Day Five - Thursday
8:00 – 8:30am
Continental Breakfast

8:30am – Noon
IV. The Credit Decision - Financial Statements: Understanding Fundamentals of Financial Analysis – continued

Noon – 1:00pm
Lunch

1:00 – 5:00pm

V. Collection Procedures

Defining Collections

  • Reviewing ongoing accounts.
  • What is collection procedure? When does it begin?
  • Collection policy.
  • Use of invoice and statements in the collection process.
  • How to deal with an overdue account at various stages of delinquency.
  • Dealing with out-of-court settlements.
  • Is it a bad debt?

Bankruptcy Code Proceeding

  • What is a Chapter 13 Bankruptcy?
  • What is a Chapter 11 Bankruptcy?
  • What is a Chapter 7 Bankruptcy?
  • How do we react to each?

Management Reports

  • What reports are key and important?
  • Who reads the reports?
  • Understanding and interpreting reports to management.
  • Are they necessary?

5:00pm
Study Session and Pizza Party


Day Six - Friday
8:00 – 8:30am
Continental Breakfast

8:30am
Comprehensive Review and Final Exam

In order to give you sufficient time to take the final exam, we strongly recommend that your return flight be scheduled to depart after 5:00pm on the final day of the program or the following morning.

 

 

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Financial Statement Analysis 2: Credit and Risk Assessment

About the Program

This intermediate financial analysis program has been designed for credit analysts and managers seeking a comprehensive understanding of a company's total operating performance and financial condition as well what's behind the numbers in financial reports. It is designed to improve the credit professional's ability to analyze and interpret financial statements leading to quality credit risk assessment. The program gives equal weight to the process of financial reporting, the analysis and interpretation of financial statements and the steps required to write a quality credit line recommendation.

Program Instructor

George A. Schnupp, CCE, the 2008 National Credit Executive of the Year, is the Global Director of Credit at Anixter Inc. With over 29 years of experience in the credit profession, he has implemented various PC-based credit processes, eliminating numerous routine repetitive tasks performed by credit personnel. Mr. Schnupp is an instructor for NACM Midwest (Chicago Institute of Credit), William Rainey Harper College and NACM-National. He has taught Principles of Business Credit, Financial Accounting, Financial Statement Analysis I, Financial Statements: Interpretation and Credit Risk Assessment and Essentials of Finance. He is an alumnus of the NACM Graduate School of Credit & Financial Management and author of the course material for the CCE Prep Course. He was also a core contributor to the Principles of Business Credit textbook used in the Credit Administration Program (CAP). Mr. Schnupp has served on numerous national committees, including the Accreditation and Education Committees. He continues to serve on the national CAP Instructors Committee and is the Chairman of the Advanced Credit Administration Program Instructors Committee. In addition to being honored as the 2008 National Credit Executive of the Year, he was named the NACM/Robert Half Finance & Accounting and Accountemps Instructor of the Year in 2000 and the NACM Midwest Credit Executive of the Year.

Program Prerequisites

In order to participate actively and gain the most from this course, students will need to join this class with a firm understanding of accounting concepts. Also, although it is recommended that Financial Statement Analysis I be completed prior to this course, it is not a requirement.

Program Overview

This program satisfies the intermediate course requirement for the Certified Credit & Risk Analyst (CCRA) designation. It is also an excellent preparatory class for the Certified Credit Executive (CCE) designation exam. Using the textbook, Financial Reporting and Analysis - Custom Edition, by Charles H. Gibson, and classroom case studies/exercisers, participants will receive in-depth exposure to:

  • Margins
  • Asset Turnover
  • Financing: Debt and Equity
  • Return on Equity
  • Return on Assets
  • Cash Profits versus Accounting Profits Cash Flow Analysis
  • Cash Flow Analysis
  • Investments: Short-and Long-term
  • Fixed Assets and Depreciation
  • Receivables
  • Inventories
  • Cost of Goods Sold
  • Ratio, Trending Analysis & Common Sizing
  • Credit Risk Assessment & Documentation

General Information

The Certificate Sessions are conducted at the NACM headquarters located in Columbia, MD. Find out how you can complete an NACM Certification Program requirement in one week.

Program Schedule

Day One – Sunday
5:00 – 6:30pm
Welcome Dinner and Introductions

Day Two – Monday
8:00 – 8:30am
Continental Breakfast

8:30 – 10:30am
Chapter 1: Fundamental Concepts and Introduction to Financial Reporting
Student will learn the basic principles of accounting on which financial reports are based. A review of the evolution of GAAP and the traditional assumptions of the accounting model helps the participant understand the statements and thus analyze them better.

10:30 – 10:45am
Morning Break

10:45am – Noon
Chapter 2: Introduction to Financial Statements and Other Financial Reporting Topics
You will learn the forms of business entities and be introduced to financial statements. This chapter includes other financial reporting topics that contribute to the understanding of financial reporting, such as the auditor's report, management's responsibility for financial statements and the SEC's integrated disclosure system.

Noon – 1:00pm
Lunch

 

1:00 – 3:00pm
Chapter 4: Income Statement (Margins)
You will learn all about the operating statement, including special income statement items. Other topics included are the reconciliation of retained earnings, dividends and stock splits.

 

3:00 – 3:15pm
Afternoon Break

 

3:15 – 5:00pm
Chapter 3: Balance Sheet (Investments = Financing)
You will learn all about the balance sheet and be introduced to consolidated statements and problems in balance sheet presentation. Special emphasis will be given to the investment choices in various assets being carried on the balance sheet.

 

5:30pm
Dinner at a Local Restaurant
All dinners are held at restaurants. A variety of dinner choices is always available.

Day Three – Tuesday
8:00 – 8:30am
Continental Breakfast

 

8:30 – 10:30am
Chapter 10: Statement of Cash Flows
You will learn the major sources and uses of cash reported in the operating, investing and financing sections of the statement of cash flows. You will also learn why accrual net income and operating cash flows differ and the factors that explain this difference. The difference between the direct and indirect method of determining cash flows from operations will be discussed.

 

10:30 – 10:45am
Morning Break

 

10:45am – Noon
Chapter 10: Statement of Cash Flows (continued)
You will learn how to prepare a statement of cash flows from comparative balance sheet data, an income statement and other financial information. Special emphasis will be given to the operating activities related to working capital.

 

Noon – 1:00pm
Lunch

 

1:00 – 3:00pm
Chapter 6: Liquidity of Short-term Assets; Related Debt-paying Ability
You will learn about the procedures necessary for analyzing short-term assets and the short-term debt-paying ability of an entity. There will be a detailed discussion of four very important current investments: cash, marketable securities, accounts receivable and inventory.

 

3:00 – 3:15pm
Afternoon Break

 

3:15 – 5:00pm
Chapter 6: Liquidity of Short-term Assets; Related Debt-paying Ability (continue)
You will learn how the short-term business investment in a firm represents resources committed to cash, accounts receivable and inventories. You will also learn the relationship between the level of investment in short-term assets and the financing of those assets. The emphasis will be on short-term investment and financing from a flow of funds approach.

 

5:30pm
Dinner at a Local Restaurant

 

Day Four – Wednesday
8:00 – 8:30am
Continental Breakfast

8:30 – 10:30am
Chapter 7: Long-term Debt Paying Ability
You will learn about financial instruments with off-balance sheet risk, financial instruments with concentrations of credit risk and disclosures about fair value of financial instruments.

 

10:30 – 10:45am
Morning Break

 

10:45am – Noon
Chapter 7: Long-term Debt Paying Ability (continue)
You will learn about the major types of financial intermediaries and how they function in the financial market. We will discuss the two kinds of securities: debt and equity commonly called bonds and stocks, respectively. The emphasis will be on the underlying relationship that exists when raising funds for expenditures.

 

Noon – 1:00pm
Lunch

 

1:00 – 3:00pm
Chapter 8: Analysis of Profitability
You will learn how important the net profit margin is as it relates to return on equity performance. You will gain an understanding how vital profit margins are to stockholders, creditors and management.

 

3:00 – 3:15pm
Afternoon Break

 

3:15 – 5:00pm
Chapter 5: Basics of Analysis
You will learn how competitive forces and a company's business strategy influence its operating profitability. You will also learn how Return on Assets (ROA) can be used to analyze a company's operating profitability and what insights are gained from separating ROA into its profit margin and asset turnover components. Return on Equity (ROE) will also be studied to determine the impact of financial leverage on a company's operating profitability.

5:00pm
Study Session and Pizza Party

Day Five – Thursday
8:00 – 8:30am
Continental Breakfast

8:30 – 10:00am
Case #1: Speedy Auto Supply Co.
Case #2: Hit Hard Football Equipment Sales Inc.

10:00 – 10:15am
Morning Break

10:15am – Noon
Case #3: NPK Global Inc.
Case #4: United Airlines Inc.

 

Noon – 1:00pm
Lunch

 

1:00 – 5:00pm
Comprehensive Review and Final Exam, covering the material presented in the Financial Statement Analysis Course.
In order to give you sufficient time to take the final exam, we strongly recommend that your return flight be scheduled to depart after 5:00pm on the final day of the program or the following morning. Please do not plan on leaving the national office for the airport before 5:00pm.

*Schedule is subject to change.

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Financial Statement Analysis 1

About the Program

Financial Statement Analysis (FSAI) is a method of interpreting accounting data in an effort to understand the current financial performance of an entity and project its future health. FSAI keeps the evaluation process simple, but requires a working knowledge of basic accounting principles. The emphasis of the course is on analyzing financial statements issued by companies using fundamental ratio analysis techniques and analysis of the statement of cash flows. These evaluations can be used to determine the operating efficiency, profitability and financial risk of a firm.

Program Instructor

James A. McIntyre, CCE is President of McIntyre Enterprises, LTD., a firm specializing in financial education, training programs and credit consulting. Mr. McIntyre formerly taught Fundamentals of Credit and Advanced Credit Analysis at North Hennepin Community College and is a member of NHCC Business School Accreditation and Advisory Committee. In addition, Mr. McIntyre currently teaches the NACM Credit Administration program for NACM North Central. He served as Chairman of the Board of the National Association of Credit Management from May 1996 through May 1997. Mr. McIntyre was awarded the Alice M. H. McGregor Award of Exceptional Achievement from NACM at the 1999 Credit Congress, and was the 2000 NACM/Robert Half Finance & Accountemps Co-Instructor of the Year.  Mr. McIntyre was elected NACM Instructor of the Year in 2001.

Program Prerequisites

It is recommended that participants have successfully completed a basic financial accounting course before enrolling in the Financial Statement Analysis I course. It is strongly encouraged but not required.

Program Schedule

Day One - Sunday
4:30 – 5:30pm
Welcome Dinner – NACM-National Office

5:30 – 8:30pm
Accounting 101
-Review Accounting Processes - From Journal to Financials
Legal Forms of Business
Business Entity Concept
Matching Concept
Understanding Transaction
Journalizing Entries
The General Ledger
Trial Balance
Creating the Financial Statements


Day Two - Monday
8:00 – 8:30am
Continental Breakfast

8:30am – 5:00pm
Chapter 1 - Financial Overview
Financial Accounting Standards Board
Generally Accepted Accounting Procedures
Security and Exchange Commission
Management and Discussion and Analysis
Proxy Statement
Discretionary Issues

Noon – 1:00pm
Lunch

8:00am – 5:00pm
Chapter 3 - Income Statement
In-depth Review of Income Statement Accounts
Statement of Stockholders’ Equity
Segmental Accounting

5:30pm
Dinner at a Local Restaurant
All dinners are held at local restaurants near the hotel. A variety of dinner choices is always available.



Day Three - Tuesday
8:00 – 8:30am
Continental Breakfast

8:30am – Noon
Chapter 3 - Income Statement - continued
In-depth Review of Income Statement Accounts
Statement of Stockholders’ Equity
Segmental Accounting

Chapter 2 - Balance Sheet
Accounting Equation
In-depth Review of Balance Sheet Accounts
Stockholders’ Equity Accounting

Noon – 1:00pm
Lunch

1:00 – 5:00pm
Comprehensive Review - Chapters 1, 2, 3

5:30pm
Dinner at a Local Restaurant

 

Day Four - Wednesday
8:00 – 8:30am
Continental Breakfast

8:30 – 10:00am
Comprehensive Exam - Chapters 1, 2, 3

10:30am – Noon
Chapter 4 - Statement of Cash Flows
Preparing a Statement of Cash Flows/Indirect Method
Cash Flow-Operating Activity
Cash Flow-Investing Activity
Cash Flow-Financing Activity
Analysis Using Statement of Cash Flows

Noon –1:00pm
Lunch

1:00 – 5:00pm
Chapter 4 - Statement of Cash Flows - continued
Preparing a Statement of Cash Flows/Indirect Method
Cash Flow-Operating Activity
Cash Flow-Investing Activity
Cash Flow-Financing Activity
Analysis Using Statement of Cash Flows

Chapter 5 - Guide to Earnings and Financial Reporting
Revenue Recognition
Financial Checklist
Earning Recognition

 

Day Five - Thursday
8:00 – 8:30am
Continental Breakfast

8:30 – Noon
Chapter 6 - The Analysis of Financial Statements
Common Size Analysis
Ratio Analysis

Noon - 1:00pm
Lunch

1:00 – 5:00pm
Chapter 6 - The Analysis of Financial Statements - continued
Common Size Analysis
Ratio Analysis
Analyze the Data

5:00 – 8:00pm
Review Session and In-house Pizza Dinner

 

Day Six - Friday
8:00 – 8:30am
Continental Breakfast

8:30 – 10:00am
Comprehensive Review - Chapters 4, 5 & 6

Noon – 1:00pm
Lunch

1:00 – 5:00pm
Comprehensive Exam - Chapters 4, 5 & 6
In order to give you sufficient time to take the final exam, we strongly recommend that your return flight be scheduled to depart after 5:00pm on the final day of the program or the following morning. Please do not plan on leaving the national office for the airport before 5:00pm.

There will be a reasonable amount of homework at the end of each day’s session. Chapter questions, cases studies and financial statements will be distributed to students when applicable during the course.

*Schedule is subject to change.

National Association
of Credit Management

8840 Columbia 100 Pkwy.
Columbia, MD 21045
Phone: 410-740-5560
Fax: 410-740-5574

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