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1、AFP Corporate Treasury Management Program,Chapter 1: The Role of Treasury Management Outline,Trends in Treasury Management The Corporate Financial Objective The Finance Function Financial Decisions Financial Organization Treasury Management Objectives and the Cash Flow Timeline The Operating Cycle a
2、nd the Cash Flow Timeline Cash Flows Cash Flow Timeline and Float The Future of Treasury Management, 2004 Association for Financial Professionals. All rights reserved. Review 1 - 2,Corporate Financial Decisions,Capital Structure Decisions Investment Decisions Financing Decisions Dividend Decisions,
3、2004 Association for Financial Professionals. All rights reserved. Review 1 - 3,Operating Cycle, 2004 Association for Financial Professionals. All rights reserved. Review 1 - 4,Discussion Question,What are seven major objectives of treasury management?,Answer: Maintaining liquidity Optimizing cash r
4、esources Establishing and maintaining access to short-term financing Maintaining access to medium- and long-term financing (capital budgeting) Maintaining shareholder relations Managing risk Coordinating financial functions and sharing financial information, 2004 Association for Financial Profession
5、als. All rights reserved. Review 1 - 5,General Cash Flow Timeline, 2004 Association for Financial Professionals. All rights reserved. Review 1 - 6,A Companys Cash Flow Timeline, 2004 Association for Financial Professionals. All rights reserved. Review 1 - 7,Chapter 2: Treasury Organizational Structu
6、re Outline,Treasury Objectives and Policies Treasury Policies Financial Organization Financial Organizational Structure Key Roles and Responsibilities Daily Cash Management Treasury Management Organization Treasury Linkages and Interfaces Enterprise Treasury Management, 2004 Association for Financia
7、l Professionals. All rights reserved. Review 1 - 8,Treasury Policies,Areas for developing treasury policy: Establishing treasury objectives Determining funding requirements Establishing an investment policy Measuring and managing financial exposures Evaluating treasury performance,Policies must outl
8、ine roles and responsibilities for: Calculating a daily cash position Initiating and approving internal and external transfers Determining methods of short-term funding Establishing financial reporting methods, formats and timeframes Selecting and managing 3rd-party vendor and banking relationships,
9、 2004 Association for Financial Professionals. All rights reserved. Review 1 - 9,Typical Organization of the Financial FunctionTreasurer,External financing Borrowing Leasing Investor relations Cash management Collection/ concentration Disbursements Short-term investing Financial institution administ
10、ration,Risk management Interest rate risk management Insurance Foreign exchange risk management Employee benefit fund management, 2004 Association for Financial Professionals. All rights reserved. Review 1 - 10,Typical Organization of the Financial FunctionController,Accounting Financial reporting I
11、nternal accounting/ auditing Tax reports and filing Payables Accounts payable Payroll,Budget and financial planning Capital budgeting Financial planning Management information systems Credit and accounts receivable External auditor relations, 2004 Association for Financial Professionals. All rights
12、reserved. Review 1 - 11,Daily Cash Management,Daily funds management Prepare cash position worksheet Monitor cash balances Mobilize funds Research and reconcile exception items Coordinate finance functions with A/R, A/P and accounting,Banking system administration Liquidity management Forecasting Sy
13、stems design, implementation and evaluation Financial risk management, 2004 Association for Financial Professionals. All rights reserved. Review 1 - 12,Treasury Linkages be briefed on companys accounting (including preferable alternatives) Regulation G Must reconcile pro-forma financial information
14、to financial statements Issue earnings releases on form 8-K Must include material off-balance sheet arrangements in MD prohibited the payment of interest on demand accounts Created the FDIC to guarantee deposits up to a stipulated maximum amount, 2004 Association for Financial Professionals. All rig
15、hts reserved. Review 1 - 26,Gramm-Leach-Bliley Act (1999),Eliminated many barriers among banking, insurance and securities businesses Permitted the creation of financial holding companies (FHCs) Established the Fed as the primary regulator of FHCs Allowed for easier entry by foreign banks,Placed CRA
16、 rating stipulations on mergers of bank holding companies with insurance or securities firms Required financial institutions to establish and regularly disclose privacy policies; prohibited credit card and account numbers from being shared with third-party marketers, 2004 Association for Financial Professionals. All rights reserved. Review 1 - 27,Depository Institutions Deregulation and Monetary Control Act (1980),Required all deposit-taking institutions to maintai
