The treasury function administers the financial holdings and obligations of an organization. This is a major task in an organization that has millions or even billions of dollars in cash and investments, receivables, payables, and debt. Even in a smaller organization, these tasks are essential to the ability of a business to continue in operation. Consequently, though treasury is an administrative function, it is still one of the most vital parts of a business.
The treasurer is responsible for a broad range of activities, which include bank relations, cash forecasting, investments, fund raising, risk management, and even insurance. These are critical, high-risk activities, so the treasurer must also have a detailed knowledge of processes, controls, and treasury management systems. The Treasurer's Guidebook addresses all of these topics and more, with the intent of giving a new treasurer a solid grounding in how to perform the job.
Upon successful completion of this course, participants will be able to:
- Recognize the responsibilities of the treasury function.
- Cite the circumstances under which local treasury expertise is needed.
- Note the activities of the different parts of the treasury department.
- Note the different types of bank fees.
- Identify the circumstances that could trigger a credit assessment.
- Note the benefits of a cash concentration system.
- Recognize the effects of a threshold cash sweep.
- Recognize how notional pooling functions.
- Identify the circumstances under which multi-tiered banking is used.
- Identify the type of cash pooling that works best when managers want local control.
- Note the methods and adjustments used to develop a cash forecast, and why a cash forecast reconciliation is used.
- Identify the need for a correspondent bank.
- Recognize the different types of settlement systems.
- Note the different types of investment strategies.
- Recognize the characteristics of the different types of investments.
- Identify the reasons why a secondary market is needed.
- Identify the circumstances under which exemptions can be used to raise capital, and the requirements of each one.
- Cite the terms used for factoring and hard money deals.
- Note the circumstances under which a supply chain financing offer would be accepted.
- Identify the types of hedging transactions that can be used to mitigate risk, note the terms of hedging contracts, and recognize when risk mitigation is not needed.
- Recognize the types of insurance sales channels.
- Note the methods used to review the financial condition of insurers.
- Cite the terms included in insurance contracts, and their effects.
- Identify the benefits and coverage characteristics of the different types of insurance.
- Recognize the methods used to reduce the cost of insurance.
- Note the documentation typically used in a credit review.
- Recognize the uses to which a credit policy can be put.
- Identify the characteristics of a high-quality credit rating system, and when it works best.
- Cite the indicators of possible future payment delinquencies.
- Identify the actions needed to achieve zero working capital.
- Note the accounting required for the different investment activities, as well as the accounting for impairment losses, and why investments are assigned to different classifications.
- Note the accounting required for hedging transactions, the types of hedges, and the characteristics of a highly effective hedge.
- Recognize the costs and advantages of a treasury management system.
- Identify the controls for cash forecasting, investments, debt, and stock issuances.
- Recognize the formulas for turnover measurements, investment returns, and the ability to pay.
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