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The Field Examiner School is a three-day program covering every aspect of field examination techniques and practices. Participants will learn to be their organization’s “eyes and ears” through on-site analysis of accounts receivable, inventory, cash, fixed assets and all other forms of collateral.
What will you learn?
- Your primary function as a field examiner
- Your reason for conducting a collateral examination and what you should be looking for
- About collateral, its availability and ineligibles
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| “What key things to look for when on site and what tests to use when verifying a/r and inventory. The flow of cash from the customer to the blocked account and things to watch for if the cash diverts from the blocked account.” – Mike Niklaus, CIT | |
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2012 Course Dates:
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December 4-7, 2012
Los Angeles, CA
Click here for date details and to register.
Program Level: Basic
Who should attend?
Relationship managers, underwriters, lenders, new business personnel and field examiners with three months to one year of experience.
Continuing Education Credits available. |
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Course Content
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Introduction
- Objectives
- History/ Trends
- Purpose of Exams
- Types of Exams
- Role of the Examiner
- Examination Steps
Financial Statements / Records / Electronic Data
- Financial Information Flow
- Management Reports
- Financial Statement Considerations
- Unusual Postings
- Internal Controls
- Use of Electronic Data
Accounts Receivable
- Why Lend on A/R?
- Credit and Collection Systems/Internal Record Keeping
- A/R Lending Methodologies
- Advance Rate Considerations
- Necessary Reporting
- Eligible vs Non Eligible Accounts Receivable
- Testing
Cash
- Cash Cycles
- Types of Accounts
- Risk / Concerns
- Testing
Inventory
- Inventory and its Components / Definitions
- Inventory Cycles
- Valuation
- Lending Concerns
- Eligible vs Non Eligible Inventory
- Testing
- Insurance
- UCC filings
Fixed Assets
- Lending Considerations
- Ownership / Liens
- Valuations
- Appraisals
Accounts Payable / Liabilities
- Lenders Concerns / Risks
- Testing of A/P
- Red Flags
- Other Liabilities / Hidden Exposure
- Taxes
- Notes Payable / Subordination
- Deferred Revenue
- Letters of Credit
Fraud
- Extent of Fraud and Abuse
- Detect and Communicate
- Sarbanes-Oxley
- Consideration of Fraud in a Financial Statement Audit
Examination Efficiencies
- AR Efficiencies
- Inventory Efficiencies
- Cash Efficiencies
- AP Efficiencies
- Avoiding Over-Examining
- Extrapolations
Report Writing
- Be Organized
- Content
- In the Field / In the Office
- Consider your Audience
- Things to Avoid
- Provide Actionable Recommendations
- Proof Read
- Follow-up
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