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 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 (requires a Mark of 50 or better) the student must pass the final examination.
Name | Weighting | Hurdle | Due |
---|---|---|---|
Group 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
Grading Method: Refer to 'Standards Required to Complete the Unit Satisfactorily' section
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 notes.
Due: Refer to iLearn
Weighting: 30%
Summary of Assessment Task
Individual / Group: Individual
Due Date: Refer to iLearn.
Grading Method: Refer to 'Standards Required to Complete the Unit Satisfactorily' section
Submission Method: Online via Turnitin on iLearn.
Duration: Refer to Assignment Coversheet
Extension Requests:
Other Information: The lecturer will distribute the assignment problem during the classes.
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.
Assessments: Different Class Groups have different deadlines. Students should find the timetable and dates relevant to their group at www.mafc.mq.edu.au
Grading Method: Refer to 'Standards Required to Complete the Unit Satisfactorily' section
Submission Method: As per MAFC Program Rules & Procedures at www.mafc.mq.edu.au
Duration: 2 hours plus 10 minutes reading time
Examination Conditions:
Extension Requests:
Face-to-Face Teaching: Generally 40 hours
Timetable: Detailed timetable for classes are on the Centre’s web site www.mafc.mq.edu.au
Consultation Times:
Students who wish to contact any of the teaching staff may do so through:
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.
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.
Unit iLearn Site:
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:
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.
Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:
Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html
Assessment Policy http://mq.edu.au/policy/docs/assessment/policy_2016.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Complaint Management Procedure for Students and Members of the Public http://www.mq.edu.au/policy/docs/complaint_management/procedure.html
Disruption to Studies Policy (in effect until Dec 4th, 2017): http://www.mq.edu.au/policy/docs/disruption_studies/policy.html
Special Consideration Policy (in effect from Dec 4th, 2017): https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policies/special-consideration
In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
Results shown in iLearn, or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au.
Students should also consult the MAFC Program Rules & Procedures found at http://www.mafc.mq.edu.au
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
For all student enquires, please contact studentsupport@mafc.mq.edu.au
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
Learning Skills (http://www.students.mq.edu.au/support/learning_skills/) provides academic writing resources and study strategies to improve your marks and take control of your study.
For all student enquiries, visit Student Connect at ask.mq.edu.au
For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.
Our postgraduates will demonstrate a high standard of discernment and common sense in their professional and personal judgment. They will have the ability to make informed choices and decisions that reflect both the nature of their professional work and their personal perspectives.
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:
Our postgraduates will be capable of systematic enquiry; able to use research skills to create new knowledge that can be applied to real world issues, or contribute to a field of study or practice to enhance society. They will be capable of creative questioning, problem finding and problem solving.
This graduate capability is supported by:
Our postgraduates will be ethically aware and capable of confident transformative action in relation to their professional responsibilities and the wider community. They will have a sense of connectedness with others and country and have a sense of mutual obligation. They will be able to appreciate the impact of their professional roles for social justice and inclusion related to national and global issues
This graduate capability is supported by:
The Unit Schedule of this Unit Guide was updated in August 2015.
Fail Hurdle grade added to grading descriptors table.
This Unit Guide may be subject to change. The latest version is on the Centre’s web site www.mafc.mq.edu.au.
Students should read the Unit Guide carefully at the start of semester. It contains important information about the unit. If anything is unclear, please consult one of the unit lecturers.
University Policy on Grading:
Specific Unit Grading:
Grade | Expectation |
---|---|
High Distinction | Provides consistent evidence of deep and critical understanding in relation to the learning outcomes. There is substantial originality and insight in identifying, generating and communicating competing arguments, perspectives or problem solving approaches; critical evaluation of problems, their solutions and their implications; creativity in application as appropriate to the discipline. |
Distinction | Provides evidence of integration and evaluation of critical ideas, principles and theories, distinctive insight and ability in applying relevant skills and concepts in relation to learning outcomes. There is demonstration of frequent originality in defining and analysing issues or problems and providing solutions; and the use of means of communication appropriate to the discipline and the audience. |
Credit | Provides evidence of learning that goes beyond replication of content knowledge or skills relevant to the learning outcomes. There is demonstration of substantial understanding of fundamental concepts in the field of study and the ability to apply these concepts in a variety of contexts; convincing argumentation with appropriate coherent justification; communication of ideas fluently and clearly in terms of the conventions of the discipline. |
Pass | Provides sufficient evidence of the achievement of learning outcomes. There is demonstration of understanding and application of fundamental concepts of the field of study; routine argumentation with acceptable justification; communication of information and ideas adequately in terms of the conventions of the discipline. The learning attainment is considered satisfactory or adequate or competent or capable in relation to the specified outcomes. |
Fail | Does not provide evidence of attainment of learning outcomes. There is missing or partial or superficial or faulty understanding and application of the fundamental concepts in the field of study; missing, undeveloped, inappropriate or confusing argumentation; incomplete, confusing or lacking communication of ideas in ways that give little attention to the conventions of the discipline. |
Fail Hurdle | Student has obtained a raw mark over 50, yet failed all available attempts of at least one hurdle assessment. |
Review of Grade and final examination Script viewing: