The Controllership Series - Sales, Collections and Customer Credit
June 14, 2025
Webinar
1.5 CPE
Instructor
Lynn Fountain
The Controllership Series - Sales, Collections and Customer Credit
View Bio
Instructor
Lynn
Fountain
View Bio
Lynn Fountain
Bio
Lynn Fountain, CGMA, CRMA, MBA
Overland Park, Kansas
Lynn Fountain has over 35 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance and she has held two Chief Audit Executive positions for international companies. She currently is engaged in her own consulting and training practice and has trained internationally. Ms. Fountain is a discussion leader for the AICPA for numerous classes as well as conducting her own various training courses. Topics include fraud and forensic courses for both profit and not-for profit, internal controls for large and small entities, COSO 2013, ethics, and risk management and various leadership courses.
Ms. Fountain is the author of three separate technical books released in 2015. The first book entitled “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations” was published by the Institute of Internal Auditors Research Foundation and released in April 2015. She will be a featured presenter at the Institute of Internal Auditors International convention in July 2016 conducting a half-day training on her book, “Raise The Red Flag”. Her second book “Leading The Internal Audit Function” was released in October 2015 by Taylor & Francis Publications. This book serves as the initial launch for a series of leading practice internal audit and information technology publications. In addition, her third book “Ethics and the Internal Auditor’s Dilemma” was released winter of 2016.
Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate.
www.lynnfountain.net
fountainlynn1@gmail.com
Why do for profit organizations exist??? To make money!!!!! What a great concept. But if the organization does not have the proper collections and credit procedures in place, they may not be able to access that money. Hence the importance of the credit and collection process.Credit and collections are critical areas for the financial statement controllers. Customer credit is a form of payment that allows small business customers to purchase a product or service before paying for it in full. The process works similarly to the way a credit card does
you procure something and pay it back later. Collections is a term used by a business when referring to money owed to that business by a customer. When a customer does not pay within the terms specified, the amount of the bill becomes past due and is sometimes submitted to a collection agency. The sales and collection process includes business activities related to selling products and services, maintaining customer records, billing customers, and recording payments from customers. It also includes activities necessary to manage accounts receivable, such as aging accounts and authorizing credit. This course delves into the topics that impact the sales, credit and collections process for management. We discuss strategic steps management can take to ensure their processes are efficient and that they are able to actually collect their revenue.
Learning Objectives
Discover and define how the sales and collection process intersect
Explore and define the collections process
Identify and understand the challenges of the collection process
Identify steps to include in the collection process
