Information - Extension Requests / Penalties

Group Class Case Study (10%)

Students who do not attend receive a mark of zero. This penalty does not apply in cases where an application for Special Consideration has been made and approved.

Note: Applications for Special Consideration must be made within 5 (five) business days of the due date and time. 

Refer to MAFC Program Rules at https://mafcstudents.mq.edu.au/ for information on the University’s Special Consideration Policy.

 

Assignment (30%)

No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission incurs a 20% penalty). This penalty does not apply for cases in which an application for Special Consideration is made and approved.

Late submissions will be accepted up to 96 hours after the due date and time.

Note: Applications for Special Consideration must be made within 5 (five) business days of the due date and time. 

Refer to MAFC Program Rules at https://mafcstudents.mq.edu.au/ for information on the University’s Special Consideration Policy.

 

Final Exam (60%)

You are expected to present yourself for examination at the time and place designated in the relevant MAFC Timetable at https://www.mq.edu.au/about/about-the-university/faculties-and-departments/business/study-with-us/macquarie-applied-finance-centre/timetables.

Deferral of an examination is not permitted unless an application for Special Consideration is made and approved.

Students who do not attend receive a mark of zero. This penalty does not apply in cases where an application for Special Consideration has been made and approved.

Note: Applications for Special Consideration must be made within 5 (five) business days of the due date and time. 

Refer to MAFC Program Rules at https://mafcstudents.mq.edu.au/ for information on the University’s Special Consideration Policy.

CLASSES

Face-to-Face Teaching: Generally 40 hours.

Timetable: Detailed timetable for classes are on the Centre’s website at www.mafc.mq.edu.au

Consultation Times:

Students who wish to contact any of the teaching staff may do so through:

• The unit’s iLearn site, in relation to general queries (so that all students may benefit); or
• Individual consultation with the lecturer by email in the first instance, if necessary.

 

REQUIRED AND RECOMMENDED TEXTS AND/OR MATERIALS

Text: Nil

Additional Readings: Unit notes and readings will be supplied, as well as case study materials for class discussion.

Lecture Notes: Available in printed form and 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 handed out in class.

Pre-unit Materials: Nil

Useful References: Students should read financial press widely, and have a strong interest in corporate financial activity.

Calculators:

• A basic calculator would be of assistance for the completion of in-class exercises.
• In examinations, hand held calculators are permitted. Mobile phones and computers are not permitted.

Assumed Knowledge: Students are expected to be familiar with relevant material from the Financial Risk Management unit.

Assumed Access: Access to a computer with word processing and spreadsheet capability is assumed, as is general student computer literacy.

 

TECHNOLOGY USED AND REQUIRED

Unit iLearn Site:

• Found by logging on to iLearn ilearn.mq.edu.au, then clicking on AFCP8050 Corporate Treasury Management.
• This is where you will find forums, downloadable resources and links to important pages.
• The forum allows you to communicate with other students and lecturer(s) and may provide supplementary material.
• You are requested to post your questions on the forums at least 24 hours prior to the assignment submission date or the examination date. Questions posted after that time may not be answered. Please try to not leave your questions to the last few days.

Laptops: A laptop per group would be beneficial to enable students to present the results of the in-class case study.

Notes: Additional subject notes may be distributed during classes to students attending (where relevant).

Important Notice:

• It is important that you familiarise yourself with the unit’s iLearn site.
• The lecturer will advise during the class about the distribution of material (such as additional notes, assignment, and case studies), that may appear on the unit's iLearn site, if relevant.
• Students should check the unit’s iLearn site regularly (minimum twice a week and prior to all lectures) and look for updates and distribution of materials (including case studies) related to the unit or assessments and, if relevant, participate in forum discussions.

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.

1.    INTRODUCTION TO CORPORATE TREASURY

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?

 

2.    SHORT TERM CASH MANAGEMENT

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

 

3.    BALANCE SHEET MANAGEMENT

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

 

4.    MANAGING MARKET RISK

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

 

5.    GROUP CLASS CASE STUDY

 

6.    MANAGING TREASURY RELATIONSHIPS

Topics:

6.1    Key external relationships

6.2    Relationship banks

6.3    Credit rating agencies

6.4    Debt investors

 

7.    SYSTEMS AND GOVERNANCE

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