Tuesday, 28 February 2012


Credit Policy and Credit Management
Payment Terms and Methods
Credit Assessment
Credit Decisions and Controls
Recording and Measuring Debt
Collecting Payment
External Help in Collecting Debt
Small Claims Tribunal
Export Credit
Trade Credit Insurance and Factoring
Bad Debts
Recruitment Policies and Procedures

Recently I went through a commendable book entitled ‘Credit Management And Debt Recovery In Hong Kong, Singapore, Malaysia and India.’ It is published by the well know publishers Sweet & Maxwell | Thomson-Reuters. It is authored by Roberto (Bobby) Rozario and Puru Grover.

It is a voluminous paperback textbook that lucidly explains the concepts of Credit Management and ensuing debt recovery in an informative and easy to read/understand style.

Although the book is written with the credit professional in mind, this book to my mind is a valuable asset to the students and teachers too.
The textbook I feel, is a must for anyone seeking a career in credit management and finance. As a matter of fact it is already an official course textbook for the various professional certifications designate within the ACA International Society of Certified Credit and Collection Professionals in Hong Kong and China. India being nascent in this field lacks any such professional designation in credit management and this book can help as a guide in laying the foundation stone.

The book is replete with practical examples and case studies that makes it relevant in the wave of globalisation, made possible by the  computer revolution, that has immensely altered the map of doing business on credit terms.

Thus it provides knowledge to form a foundation for strong Credit and Credit collection management in the new, electronic and cyber–credit based economy.

The book also offers on-going education and training as a result of the advent of new technology leading to new policies, regulations.

Interestingly I found that the principles, practices procedures outlines are relevant to the focused regions of Hong Kong, Malaysia, Singapore and India.

Any business venture today is unimaginable without credit, indeed it’s most important ingredient. The mismanagement of credit can be a firm’s undoing in the backdrop of the global economic slowdown.

If you go through the book you can’t agree more that the layout is meticulous, complete in all its aspects. It even includes helpful specimen invoices, letters, reminders –which can be modified to suit the business needs!

Neat! A good, informative and instructive read, I say!

Leap Year - What is the dictionary word for it?


                                   Next time around use this word and impress your friends!

Wednesday, 15 February 2012

Friday, 3 February 2012


Read Khushwant Singh’s weekly column “With malice towards one and all”of Jan 15th in the Hindustan Times ,in which he writes about how people regard him to be an expert on longivity..since he is going to be 98.
  1. he gives importance to one’s genes for longevity .
  2. more important than analysing longevity is to cope with old age and make terms with it. He writes that as we grow older ,we are less able to exercise our limbs . We must device ways to keep them supple .Right into his mid 80’s ,he played tennis every morning. ,Did rounds of Lodhi gardens in winters and swam for an hour in summers . Now since he is can do neither ,he feels a good massage by powerful hands going all over one’s body from skull to the toes is a the best way to overcome this handicap.He gets a massage done once a day or at times twice a day . He is convinced that a good massage has kept him active .
  3. Equally important is the need to cut down on one’s food and drink.He starts his day with a glass of fresh guava juice . Breakfast is scrambled eggs on toast Lunch is usually watery khichri (rice mixed with lentils)with curds and vegetable ,skips afternoon Tea ,evening takes a peg of malt whisky .Before eating supper he warns himself “Do not eat too much”He feels a meal should have only one kind of vegetable /meat followed by a pich of churan.
       It is best to eat in silence…talking does not do justice to the food and one ends up           swallowing a lot of it!
       For him no more Punjabi and Mughlai food .He finds South Indian Idli Sambhar and grated coconut easier to digest and healthier.
4.Never allow yourself to be constipated .The stomach is a storehouse of all kinds of ailments .Our sedantary lifestyle tends to make us constipated .Keep your bowels clean at all counts ….by laxatives,enemas,glycerin suppositories whatever !
5. He emphasises the need to impose strict discipline on your daily routine …If necessary use a stop watch!
6.Develop peace of mind .For this one must have a healthy Bank account ..enough for one’s future needs and possibilty of falling ill.
7. Never lose one’s temper , it takes a heavy toll and jangles one’s nerves!
8. Never tell a lie Always keep the national motto in mind “Satyamev jayate”(only truth triumphs)
9.Give generously ….There is joy in giving ….
10. Drive out envy of those who have done better than you in life. A Punjabi verse sums up (Rookhi Sookhi Khai key Thanda Pani Pee ……Na Veekhi paraayee choparian na Tarssain jee)  Meaning Eat dry bread ,drink cold water.Don’t envy those who smear their chapattis with ghee ….
11. Take up a hobby of your liking and don’t spend long hours in places of worship …,that amounts to conceding defeat !
12. A practice that he finds very effective is to fix his gaze on the flame of a candle and empty his mind of everything …however in his mind he repeats AUM SHANTI ,AUM  SHANTI ….he says it does work and he is at peace with the world.
Well! Mr. Khushwant Sinh heres wishing you many more years to enthrall us with your writings…and thanks for sharing....