Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor / Lecturer
Alison Belot
Contact via Email
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Credit points |
Credit points
2
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Prerequisites |
Prerequisites
(Admission to MAppFin or MAppFin(Adv) or GradDipAppFin) and ECFS867
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
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Unit description |
Unit description
This unit aims to give students an insight into treasury management for non-financial corporations. It will examine cash forecasting and liquidity management, financing, financial risk management, and managing relationships with financial institutions, ratings agencies and within the business. We consider the issues confronting the treasurer today and the changing role of treasury in today's environment. A key focus is how treasury fits within the broader corporation, understanding how and why a corporate treasury differs from financial institutions, how it can add value to the corporation and work to support broader corporate objectives.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
To pass this unit the student needs to (1) Achieve an aggregate mark of 50 or more, and; (2) Pass the Final Exam.
Name | Weighting | Hurdle | Due |
---|---|---|---|
Group In Class Case Study | 10% | No | Conducted in class on Sunday |
Assignment | 30% | No | Refer to iLearn |
Final Exam | 60% | Yes | Refer to Timetable |
Due: Conducted in class on Sunday
Weighting: 10%
Summary of Assessment Task
Individual / Group: Group.
Due Date: Lecturer to advise in class.
Submission Method: During class.
Duration: Lecturer to advise in class.
Extension Requests:
Other Information: The lecturer will distribute the case study problems during the classes, which will apply concepts learnt during class and from the lecture notes.
Due: Refer to iLearn
Weighting: 30%
Summary of Assessment Task
Individual / Group: Individual.
Due Date: Refer to iLearn.
Submission Method: Online via Turnitin on iLearn.
Duration: Refer to Assignment Cover Sheet.
Extension Requests:
Other Information: The assignment is available via iLearn.
Due: Refer to Timetable
Weighting: 60%
This is a hurdle assessment task (see assessment policy for more information on hurdle assessment tasks)
Summary of Assessment Task
Individual / Group: Individual.
Due Date: Refer to Timetable.
Submission Method: As per MAFC Program Rules at https://mafcstudents.mq.edu.au/.
Duration: 2 hours plus 10 minutes reading time.
Examination Conditions:
Extension Requests:
Face-to-Face Teaching: Generally 20 hours.
Timetable: Detailed timetable for classes are available at https://www.mq.edu.au/about/about-the-university/faculties-and-departments/business/study-with-us/macquarie-applied-finance-centre/timetables.
Consultation Times:
Students who wish to contact any of the teaching staff may do so through:
Text: Nil
Additional Readings: Readings will be supplied, as well as case study materials for class discussion, via iLearn.
Lecture Notes: Available electronically via iLearn.
Study Problems: Students are required to work systematically through suggested problem sets. These problems will not be collected but they will help you prepare for the exams. Answers to the problems will be discussed in class.
Pre-unit Materials: Nil
Useful References: Students should read financial press widely, and have a strong interest in corporate financial activity.
Calculators:
Assumed Knowledge: Students are expected to be familiar with relevant material from the ECFS868 Financial Risk Management unit.
Assumed Access: Access to a computer with word processing and spreadsheet capability is assumed, as is general student computer literacy.
Unit iLearn Site:
Laptops: A laptop per group would be beneficial to enable students to present the results of the in class case study.
Important:
This course is intended to give students a working understanding of the day-to-day activities and issues facing a corporate Treasury. A general working knowledge of the corporate environment and current financial events would be beneficial. The knowledge of financial markets and instruments gained through the successful completion of the core subjects will be sufficient for students undertaking this subject.
Topics:
1.1 The role of a corporate Treasury
1.2 What are the objectives of a corporate Treasury?
1.3 Where does Treasury sit within the broader company?
1.4 Treasury organisational design
1.5 What is risk?
1.6 What risks does a corporate Treasury take responsibility for?
1.7 What broader activities can a Treasury engage in to add value to the company?
1.8 How is a corporate Treasury different to a bank Treasury?
Topics:
2.1 Producing an accurate cash flow forecast
2.2 Cash flow forecast exercise
2.3 Measuring and improving cash flow forecast accuracy
2.4 Bank account structuring, including pooling and sweeping
2.5 Short term funding options
2.6 Short term investment options
Topics:
3.1 Debt vs equity
3.2 Equity
3.3 Debt
3.4 Working capital management
3.5 Long term cash flow forecasting and stress testing
3.6 Identification and management of debt-related risks
3.7 Case study – debt portfolio
3.8 Accessing the bond markets
3.9 Case study – international bond issue
3.10 Case study – local bond issue
3.11 Balance sheet management exercises
Topics:
4.1 Review of hedging basics
4.2 Risk identification and quantification
4.3 Foreign exchange risk management
4.4 Interest rate risk management
4.5 Commodities are different
4.6 Commodity price risk management
4.7 Credit risk management
4.8 Managing the risks of a bond issue
Topics:
6.1 Key external relationships
6.2 Relationship banks
6.3 Credit rating agencies
6.4 Debt investors
Topics:
7.1 Creating a Treasury policy
7.2 The right control environment
7.3 When it all goes wrong
7.4 Impacts from the external environment
7.5 Treasury reporting
7.6 Measuring Treasury’s performance
7.7 Treasury systems
7.8 Business continuity protocol
7.9 Information and dealing platforms
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Undergraduate students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
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Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.
This graduate capability is supported by:
Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.
This graduate capability is supported by:
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This graduate capability is supported by:
This Unit Guide may be subject to change. Students will be advised, via an "Announcement" on iLearn, if the Unit Guide is changed.
The latest version is available at https://unitguides.mq.edu.au/.
Students should read the Unit Guide carefully at the start of term. It contains important information about the unit. If anything is unclear, please consult one of the unit lecturers.