BEST SELLER - Credit Card Surcharging – Who is Going to Do It and What are the Stipulations for Compliance?
Product ID : BEST-MIKE-0014
Level : Intermediate
Duration : 60 Minutes
Mike Morley is a Certified Public Accountant who holds the top credit designations in the U.S., Canada, and the U.K. An entertaining and informative speaker, Mike is a recognized authority in the field of finance. A consultant on SOX and IFRS projects, Mike is the author of “Sarbanes-Oxley Simplified,” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.
Mike is the author of several books, including:
- “IFRS Simplified” which provides a jump starts for accountants and finance executives who want to quickly and easily get up to date on IFRS.
- “Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.
- “Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.
A credit card surcharge is added on top of the purchase to cover the merchant’s processing fees. The merchant says, “Credit card transactions come with a $0.35 extra charge.” What’s that all about? This is called a credit card surcharge. Though it’s annoying, there’s a reason merchants add it: to cover their costs. For the merchant, this processing fee can make it difficult to turn a profit.
- Distinguishing between credit surcharges and convenience fees
- Knowing what amounts a business can charge
- Identify when and where credit surcharges are allowed
- Understanding the required process to follow prior to implementing credit surcharges
- Reviewing disclosure requirements
- Summarizing the reporting process
- Contrasting debit and credit card transactions
Course Level - Intermediate/Basic
Who Should Attend
- Accounting and Reporting, Finance and Treasury Managers
- Company Executives
- Small business owners
- Manufacturers and Distributors Credit Department managers
- Anyone involved in credit card sales and purchases
- Anyone involved in the IFRS and SOX compliance process
Why Should You Attend
If you are a merchant who depends on credit sales to survive, you will want to know the rules around credit card surcharging. Even if you feel you want to absorb the cist every month, your competitor may be charging them and be more profitable than your business.
You will need to understand the do’s and don’ts of this somewhat mysterious side of the credit business. Although large retailers usually choose not to charge these, smaller retailers need all the help they can get these days just to survive. So, if you are a small or medium-sized player, it is critical for you to know when, how, and where to apply these credit surcharges.