Accounts
Receivable
(Financial Instructions 2005 s(47-50))
An accounts receivable (or debtor) generally arises after a sale of goods or services where payment is not immediately received. It is important to have in place a stringent credit policy and debt recovery procedures to counter the risk of losses from irrecoverable debts.
The policies and procedures in this Part assign particular responsibilities to:
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the Deputy CEO;
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the Accounting Head;
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the credit officer.