Business Accounting Programs require Credit Management Professionals to Get Started


Are you highly organized and have the ability to plan and prioritize? Are you comfortable dealing with numbers and computers and have strong numeracy skills? In addition, do you consider yourself a strong communicator, problem solver and decision maker? If you answered ‘yes’ to these questions and have an interest in working as a credit management professional, you may want to consider taking the finance management courses offered in Centennial College’s Business Accounting – Financial and Credit Management program. 

Applicants to this program must have completed an Ontario Secondary School Diploma (OSSD) or equivalent, or mature student status (19 years or older). In addition they should possess English Grade 12 C or U or equivalent, or skills assessment and Math Grade 11 C, M or U, or Grade 12 C or U or equivalent or skills assessment.

The Credit Institute of Canada, the country’s most respected credit organization, and the only body that grants official designations to Canadian credit professionals, has partnered with Centennial College to deliver the Business Accounting program. This collaboration signals to employers that Centennial graduates have attained the knowledge and competencies the business community is seeking. In addition, eligible graduates have the opportunity to enhance their overall career success by obtaining the CCP designation granted through the CIC.

Not only are the finance management courses in Business Accounting developed but the CIC, but the offering also shares a common first semester with Centennial’s Accounting program. This allows students to grasp key accounting fundamentals before specializing in credit management. As such, the first semester features courses such as: Financial Accounting, Microcomputer Applications Software, Mathematics of Finance, Strategies for Business Success and more.

In the final three semesters, students gain comprehensive knowledge in credit management concepts including: financial statement analysis, securities, risk evaluation, collections, bankruptcy and credit department reporting. Specific finance management courses during this portion of the Business Accounting program include: Taxation (offers a basic understanding of the Income Tax Act and regulations to determine the Income Tax Liability as it applies mainly to individuals. Also allows students to learn how to prepare a simple tax return and to use the knowledge gained from this course to solve problems relating to the taxation of individuals resident and non-resident of Canada); Personal Credit (introduces students to the principles of credit extension. Topics include consumer lending, mortgage lending and financial statement analysis affecting particularly consumer loans and mortgage applications); Corporate Finance (covers topics in the financial management of profit-seeking organizations. A major objective is to develop analytical and decision-making skills in domestic and international finance, through the use of theory questions and practical problems); and more.

Upon graduation from the Business Accounting program, students become credit management professionals and are responsible for overseeing the credit policies of an organization from assessing credit limits to determining risk of an applicant. They are essential to all businesses particularly banks, loan firms and credit card companies who rely on them to ensure their operations run smoothly. Titles in this field include: Credit Manager, Collections Manager, Credit Supervisor, Credit Representative, Accounts Receivable Manager and Accounts Receivable Representative. These professionals are employed in areas such as: trust companies, banks, credit unions, consumer loan companies, mortgage investment companies as well as credit/collection departments within companies.

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