Undergraduate Diploma in Credit Management and Collections (In Accreditation)

Course Description

Change is the only certainty in today’s business, and the Credit Management function is by no means an exception. Credit has become an important element to gain competitive advantage in today’s dynamic business environment. Consequently, it has become easily accessible to both individuals (B2C) and businesses (B2B) in Malta so much so that a number of individuals and traders are consuming or trading predominantly on credit, and the suppliers’ lists of overdue debtors is increasing both in numbers and in value.

If one had to look into the balance sheets of organisations trading on credit, ‘Debtors’ (accounts receivable in the balance sheet) would represent one of the biggest assets of these organisations. Therefore, ‘debtors’ being so important to these organisations should raise some fundamental questions which the directors or business owners need to ask:

Who is managing credit in these organisations? Who is making sure that credit is being granted only to those clients who are genuinely creditworthy? Who is balancing the cash inflows with the cash outflows to ensure a healthy cashflow? Who is reviewing the debtors’ accounts on an ongoing basis? Who is chasing after the money, and what are the collection procedures in place? Who is deploying the best credit management practices and complying with the respective legislation? Who is behind the corporate credit policy?

This Level 5 diploma comprising 60 ECTS specifically addresses the needs of the people working/who would like to work in the field of credit management in Malta, irrespective of the commercial sector they are trading in or would like to trade in. This programme covers the unique challenges of both B2B and B2C credit environments equipping students with the necessary knowledge, skills, and competencies that a credit professional should have.

Programme Objectives

• To equip students with the knowledge and skills to apply, promote, and contribute to good credit management and collections practices across the full range of credit environments.
• To develop the ability in students to interpret financial statements and conduct comprehensive financial analysis to support informed decision-making.
• To enhance students’ understanding of the legal context and structures governing credit management and collections.
• To enhance students’ understanding of the internal and external business environment, enabling them to adapt to evolving market conditions.
• To provide students with the necessary competencies to analyse best practices to collect dues on time in order to secure sound cash flow in today’s Maltese economy.
• To foster research skills that enable students to identify and address gaps in the field of credit management and collections, contributing to advancements in the industry.

Entry Requirements

Candidates who apply for this course will possess:

• A qualification at MQF Level 4 (one ‘A’ Level or equivalent in any subject/ a related (professional) qualification)
• a pass in English Language* and Mathematics at MQF Level 3 (‘O’ Level or equivalent).

In the case of students who do not possess all the formal required academic qualifications, then the Recognition of Prior Learning (RPL) process could be applied such that if evidence of equivalent learning and/or related experience (e.g., assistant accountant, credit controller, etc.) is found then the applicant could still be accepted on the course.

Evidence may include:

• A detailed CV outlining relevant work experience and responsibilities.
• Employer reference letters outlining job role, duration, and key competencies.
• Related documentation demonstrating relevant skills (e.g. work portfolio).
• Such RPL process may subject applicants to an interview held with a board of experts within the field, chosen specifically by IDEA College, so as to verify their practical knowledge, experiences, and prior learning.

*Students whose first language is not English and do not possess an ‘O’ level pass in English Language will be required to demonstrate English language capability at IELTS level 6.0 or equivalent.

Target Audience

This qualification targets:

• Individuals seeking to advance their academic and professional knowledge in Credit Management and Collections.
• Individuals wanting to pursue a wide range of career paths within this field.
• Individuals wanting to enhance their ability to interpret, assess and communicate credit management related information.

Career Paths

This programme equips the audience with the competences, knowledge, and skills listed in this application. The potential positions for which this programme aims to prepare could be and are not limited to:

• Credit Manager
• Credit Controller
• Credit Analyst
• Collections Specialist
• Financial Assistant

Modules

You are required to complete all 6 compulsory modules (60 ECTS), to fulfil the requirements of this Undergraduate Diploma

How you’ll be assessed

The course comprises:

• Evening classes for part-time courses.
• Classes held throughout the day for full-time courses.
• Guided learning, presentations, comprising synchronous online discussions, tutorials and/or videos.
• Self-study hours comprising research, reading and assignment work.

Assessment

Assessment is carried out via two mandatory components:

• Assessment 1
• Assessment 2

The programme includes different forms of assessment which allow for and promote students’ critical engagement. The formative and summative assessment tasks may include an in-class assignment and/or a home-based written assignment using diverse assessment tools which may take the form of online and in-class discussions, examinations, case studies, reports, proposals, essays, and presentations, etc., as applicable to the diverse modules.