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Credit Research Foundation HOMEROOM > Public > Course 115  

 Unclaimed Property

Course 115: Unclaimed Property: The Risk & the Reality for Credit and A/R Managers

Developed and Delivered by:

  • Karen Anderson, Senior Compliance Advisor, Abandoned Property Services LLC  

  • Brad Komarek, Credit Manager/Assistant Treasurer, Arizant Healthcare

    This program provides introductory level and skills refinement training.

    Don't Be Caught Unprepared - Know How to Account for Unclaimed Property

    • Unclaimed property can come in a variety of forms such as unused customer/client credits, refunds, unapplied cash, and uncashed vendor checks. While some may view this as free money for a company, the reality is quite the opposite. All unclaimed property must be accounted for to the appropriate state and eventually must be returned to those states. Not properly accounting for unclaimed property may result in state fines and penalties or even criminal penalties.

    By taking this course you'll learn the basic information required to properly account for unclaimed property within your company and how to prepare for any state audits of your company's unclaimed property.

    This course is designed as a refresher for those with some knowledge and experience as well as for the beginner in the topic of unclaimed property.

    Objectives of the course

    This course will provide its students with a foundation for implementing policies and procedures for complying with unclaimed property state laws. It will specifically include:

    • A definition of unclaimed property – what specifically qualifies as unclaimed property.
    • A definition of terminology used in the regulation of unclaimed property.
    • Common examples of unclaimed property.
    • Reasons for why you should be concerned about unclaimed property.
    • The rules of jurisdiction regarding states' unclaimed property laws.
    • The four basic obligations to meet for compliance with unclaimed property laws.
    • How to prepare for a state unclaimed property audit.
    • The hot button issues of unclaimed property audits.
    • An example of how accounts receivable professional Brad Komarek, of Arizant Healthcare, complied with unclaimed property laws, how he has implemented policies and procedures to comply with these laws and how he has reduced the amount of unclaimed property held by his company.

    As an added bonus, all students will receive an electronic, updated copy of the Credit Research Foundation's study, conducted by Karen Anderson entitled, “The Credit Professional's Guide to Unclaimed Property.”

     

    Video and slide lesson run time:  1 hour

     

    Videos on this CRF website require a Flash enabled browser. 

    This video is a sample of the CRFOnline Classroomtm instructor discussing the objectives for each module of the course.

    Students taking the course will see a full-screen view of the CRFOnline Classroomtm .

    To register for this class,   click here or cut and paste this link:  http://crf.digitalchalk.com  On this page, you must CREATE A NEW ACCOUNT to register for the course.

    The Credit Research Foundation will present a Certificate of Professional Development to students completing the course with a minimum passing grade of 70. 

    Unclaimied Property - 115
    To register for this class    ,   click here or cut and paste this link: http://crf.digitalchalk.com  On this page, you must CREATE A NEW ACCOUNT to register for the course.

    This is a virtual classroom that can be accessed 24/7 from any internet enabled computer. Students will work at their own pace.

    The cost for the course is just $99.00. 

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