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Accounts Receivable Management Services

Coach’s Corner with Jerry Curtis

Dear Customer:

Burt & Associates wishes its clients and professional associates a prosperous and safe new year. As the year closes, we thank you for your continued faith in Burt & Associates to provide your business with the best in accounts receiveable management services.

Burt & Associates is a member of the American Collectors Association, The Commercial Law League of America, Turnaround Management Association and is SAS70 Type II certified in compliance with the strenuous guidelines of the Sarbanes-Oxley Act.

As always, should you have any questions, comments or suggestions, please do not hesitate to contact your National Account Executive today.

With warmest regards,

Jerry Curtis
President & CEO

Educational Tidbits For Today’s Credit Executive
Revisions in Sarbanes-Oxley

The Public Company Accounting Oversight Board has made some specific proposals to address complaints that the Sarbanes-Oxley Act presents burdensome work on public companies that need to assure the accuracy of their financial reports. The Public Company Accounting Oversight Board admitted that certain standards under section 404 of Sarbanes-Oxley have resulted in expensive and inefficient auditing standards. Less than a week earlier, the Securities and Exchange Commission made similar proposals to reduce the amount of money companies need to spend to evaluate their financial controls. One proposal would be to make the rules largely applicable for the largest companies, reducing the number of rules for smaller firms and exempting the smallestcompanies from at least most of the rules. Sarbanes-Oxley was passed in the wake of big accounting scandals that involved financial shenanigans such as Enron Corp. and WorldCom Inc.

The Credit Manager’s Q&A Corner

QUESTION: Explain the term “attachment” in the context of the collection process.

ANSWER: Attachment has been defined as a method whereby a debtor’s property, real or personal, or any interest therein, capable of being taken under a levy of execution, is placed in the custody of the law to secure the interests of the creditor, pending the termination of the cause.