法国新闻社团的经营管理(1)

©2004AssociationforFinancialProfessionals.Allrightsreserved.Review1-1AFPCorporateTreasuryManagementProgram©2004AssociationforFinancialProfessionals.Allrightsreserved.Review1-2Chapter1:TheRoleofTreasuryManagementOutlineTrendsinTreasuryManagementTheCorporateFinancialObjectiveTheFinanceFunctionFinancialDecisionsFinancialOrganizationTreasuryManagementObjectivesandtheCashFlowTimelineTheOperatingCycleandtheCashFlowTimelineCashFlowsCashFlowTimelineandFloatTheFutureofTreasuryManagement©2004AssociationforFinancialProfessionals.Allrightsreserved.Review1-3CorporateFinancialDecisionsCapitalStructureDecisionsInvestmentDecisionsFinancingDecisionsDividendDecisions©2004AssociationforFinancialProfessionals.Allrightsreserved.Review1-4OperatingCycle1.AcquireMaterialsorResources2.ConvertMaterialstoGoodsConvertResourcestoServices3.SellGoodsorServices4.CollectPaymentforGoodsorServices©2004AssociationforFinancialProfessionals.Allrightsreserved.Review1-5DiscussionQuestionWhataresevenmajorobjectivesoftreasurymanagement?Answer:MaintainingliquidityOptimizingcashresourcesEstablishingandmaintainingaccesstoshort-termfinancingMaintainingaccesstomedium-andlong-termfinancing(capitalbudgeting)MaintainingshareholderrelationsManagingriskCoordinatingfinancialfunctionsandsharingfinancialinformation©2004AssociationforFinancialProfessionals.Allrightsreserved.Review1-6GeneralCashFlowTimelinePurchaseofResourcesPaymentforResourcesSaleofGoodsorServicesCollectionofSalesReceipts©2004AssociationforFinancialProfessionals.Allrightsreserved.Review1-7ACompany’sCashFlowTimelineSupplierOrderPlacedCustomerOrderReceivedCustomerInvoiceSentCustomerReceivesInvoicePaymentSentReceivesPaymentCheckDepositedFundsDebitedCustomerSendsPaymentCustomerPaymentReceivedCheckDepositedFundsAvailableSupplierInvoiceReceivedOrderEntryOrderShippingInvoicePrepMailDelayCreditTerms&PaymentProcessingInvoiceProcessing&CreditTermsMailDelayAvailabilityDelayMailDelayProcessingDelayClearingDelayProcessingDelayCollectionFloatA/RInvoicingFloatDisbursementFloatA/PPaymentFloatAcquire&ConvertSell&Collect©2004AssociationforFinancialProfessionals.Allrightsreserved.Review1-8Chapter2:TreasuryOrganizationalStructureOutlineTreasuryObjectivesandPoliciesTreasuryPoliciesFinancialOrganizationFinancialOrganizationalStructureKeyRolesandResponsibilitiesDailyCashManagementTreasuryManagementOrganizationTreasuryLinkagesandInterfacesEnterpriseTreasuryManagement©2004AssociationforFinancialProfessionals.Allrightsreserved.Review1-9TreasuryPoliciesAreasfordevelopingtreasurypolicy:EstablishingtreasuryobjectivesDeterminingfundingrequirementsEstablishinganinvestmentpolicyMeasuringandmanagingfinancialexposuresEvaluatingtreasuryperformancePoliciesmustoutlinerolesandresponsibilitiesfor:CalculatingadailycashpositionInitiatingandapprovinginternalandexternaltransfersDeterminingmethodsofshort-termfundingEstablishingfinancialreportingmethods,formatsandtimeframesSelectingandmanaging3rd-partyvendorandbankingrelationships©2004AssociationforFinancialProfessionals.Allrightsreserved.Review1-10TypicalOrganizationoftheFinancialFunction—TreasurerExternalfinancingBorrowingLeasingInvestorrelationsCashmanagementCollection/concentrationDisbursementsShort-terminvestingFinancialinstitutionadministrationRiskmanagementInterestrateriskmanagementInsuranceForeignexchangeriskmanagementEmployeebenefitfundmanagement©2004AssociationforFinancialProfessionals.Allrightsreserved.Review1-11TypicalOrganizationoftheFinancialFunction—ControllerAccountingFinancialreportingInternalaccounting/auditingTaxreportsandfilingPayablesAccountspayablePayrollBudgetandfinancialplanningCapitalbudgetingFinancialplanningManagementinformationsystemsCreditandaccountsreceivableExternalauditorrelations©2004AssociationforFinancialProfessionals.Allrightsreserved.Review1-12DailyCashManagementDailyfundsmanagementPreparecashpositionworksheetMonitorcashbalancesMobilizefundsResearchandreconcileexceptionitemsCoordinatefinancefunctionswithA/R,A/PandaccountingBankingsystemadministrationLiquiditymanagementForecastingSystemsdesign,implementationandevaluationFinancialriskmanagement©2004AssociationforFinancialProfessionals.Allrightsreserved.Review1-13TreasuryLinkages&InterfacesTreasury$A/RRiskMgt.InvestmentBorrowingPensionMgt.PurchasingA/PGeneralLedgerInternalAuditTreasury$BanksRegulatoryAgenciesSuppliersCustomersExternalInvestmentMgrs.FinancialMarketsA/PIndustryTradeGroupsExternalAuditorsIntracorporateIntegrationIntercorporateIntegration©2004AssociationforFinancialProfessionals.Allrightsreserved.Review1-14Chapter3:FinancialEnvironmentOutlineFinancialMarketsFinancialInstitutions:FunctionsandServicesRegulatoryAgenciesFederalLegislationLegislationGoverning:RegulationandSupervisionTypesofFinancialServicesOfferedGeographicBoundariesConsumerProtectionFederalReserveRegulationsUniformCommercialCode(UCC)©2004AssociationforFinancialProfessionals.Allrightsreserved.Review1-15SecurityandExchange