THE IMPACT OF CREDIT MANAGEMENT ON THE PROFITABILITY OF A MANUFACTURING FIRM (A CASE STUDY OF UNILEVER PLC ABA, NIGERIA)


THE IMPACT OF CREDIT MANAGEMENT ON THE PROFITABILITY OF A MANUFACTURING FIRM (A CASE STUDY OF UNILEVER PLC ABA, NIGERIA)

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THE IMPACT OF CREDIT MANAGEMENT ON THE PROFITABILITY OF A MANUFACTURING FIRM (A CASE STUDY OF UNILEVER PLC ABA, NIGERIA)
CHAPTER ONE


1.0 INTRODUCTION


1.1 BACKGROUND OF THE STUDY


 Credit  management  is  a  term  used  to  identify  accounting  functions


usually conducted under the umbrella of accounts receivables. Essentially, this


collection  of  processes  involves  qualifying  the  extension  of  credit  to  a


customer,  monitors  the  reception  and  logging  of  payments  on  outstanding


invoices, the initiation of collection procedures, and the resolution of disputes


or  queries  regarding  charges  on  a customer  invoice.  When  functioning


efficiently,  credit  management  serves  as  an  excellent  way  for  business  to


remain financially stable. 


 Competent  credit  management  seeks  to  not  only  protect  the  vendor


from  possible  losses,  but  also  protect  the  customer  from  creating  more  debt


obligations that cannot be settled in a timely manner. 


 Several  factors  are  used  as  part  of  the  credit  management  process  to


evaluate  and  qualify  a  customer  for  the  receipt  of  some  form  of  commercial


credit.  This  may include;  gathering  data  on  the  potential customer’s,  current


financial condition including the current credit score. 


 
                                                                                          11
 

 


BRIEF HISTORY OF UNILEVER NIGERIA PLC ABA


 Unilever Nigeria Plc is a public liability company quoted on the Nigerian


stock  exchange  since  1973  with  Nigerian’s  currently  having  49  percent  of


equity holidays  established in  Nigeria. Unilever  Nigeria  Plc  started  as  a  soap


manufacturing  company  and  is  today’s  one  of  the  eldest  surviving


manufacturing  organization  in  Nigeria.  The  company  changed  its  name  to


“Unilever Nigeria Plc” in 2001.


 The  company  is  into  the  manufacture  and  marketing  of  household


toiletries  and  favorites  which  are  manufactured  in  their  various  factory


locations in Nigeria. This is because they are so deeply committed to meet the


everyday  needs  of  people  everywhere  in  Nigeria.  Such  factors  are  located  at


Lagos, Agbara, Oregun and Aba. Its staff strength is about one thousand eight


hundred  (1,800)  employers.  They also  have indirect  employees  like contract


staff and others who range from our forty thousand employees throughout the


country. 


 The company has also made provision for assistance in fields of health,


education,  children  welfare  and  potable  water  hygiene  as  part  of  its  social


responsibility programme in the Nigerian communities. 
                                                                                          12
 

 Conclusively,  Unilever  Nigeria  Plc  from  research  has  been  found  to  be


involved in both credit and cash transactions with its customers. 


1.2 STATEMENT OF THE PROBLEM 


 
There  are  many  problems  companies  encounter  as  a  result  of  poor


credit  management.  Thus,  the  problems  inherent  in  this  research  study  as


investigated are as follows:



  (1)
There  is  a  high  rate  of  bad  debts  because  some  corporations  take


          advantage of the credit that is extended to them and find themselves


        not able to pay debt later. 


  (2)
The  poor  level  of trade  credit  management  is  reflected  in  the


        liquidity and profitability position of the firm. 


  (3)
The  inability  of  business  policy  makers  to  certainly  say  how


          effectively, credit management other makes or mars the performance


        of the business in terms of profitability.  



(4) Furthermore, lack of experienced staff or officers to tackle onerous and


vital duties of managing debts appropriately. 


(5) Also,  limitation  and  inadequate training  opportunities  for key  treasury


or supporting staff. 

THE IMPACT OF CREDIT MANAGEMENT ON THE PROFITABILITY OF A MANUFACTURING FIRM (A CASE STUDY OF UNILEVER PLC ABA, NIGERIA)

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A Research proposal for the impact of credit management on the profitability of a manufacturing firm (a case study of unilever plc aba, nigeria):
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Credit management is a term used to identify accounting functions usually conducted under the umbrella of accounts receivables. Essentially, this collection of processes involves qualifying the extension of credit to a customer, monitors the reception and logging of payments on outstanding invoices, the initiation of collection procedures, and the resolution of disputes or queries regarding charges on a customer invoice. When functioning efficiently, credit management serves as an excellent way for business to remain financially stable. .. accounting project topics

THE IMPACT OF CREDIT MANAGEMENT ON THE PROFITABILITY OF A MANUFACTURING FIRM (A CASE STUDY OF UNILEVER PLC ABA, NIGERIA)

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  • CATEGORY : ACCOUNTING
  • TYPE : PROJECT MATERIAL
  • FORMAT : MICROSOFT WORD
  • ATTRIBUTE : Documentation Only
  • PAGES : 152 Pages
  • CHAPTERS : 1 - 5
  • PRICE : ₦ 3,000.00

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