International Management and Finance (Double Degree) (IMF 2015) - Master of Arts (in Cooperation mit Universidad Nacional del Litoral (UNL))

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Gabriel Winter
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1 3. Semester Cash and Treasury Management (2) Modulnummer: 2 Semester: 3 Umfang: 10 ECTS CP, 6 SWS Kurzzeichen: Dauer: 1 Semester Häufigkeit: WS Modulgruppe: Finance - Compulsory Elective Modules Kompetenzen/Lernziele: In this course, you will get acquainted with the?treasury? business of different economic sectors. We will discuss the day to day business operations of the treasury departments, for example: the cash delivery and collection of retail businesses the control of bank deposits by means of Pooling and Netting to secure the liquidity of national and international industrial concerns methods for managing the exchange rate, credit and interest rate risks in service and industrial concerns We will analyse the operational links of treasury to the intern accountancy (Liquidity Controlling), to external accounting (Hedge Accounting) and to marketing (optimized means of payment as marketing instruments) and immerse in projects of classical data processing projects of treasury, for example: to establish Treasury Management Systems (TMS) for bank connection (SWIFT) to introduce new money transfer standards (SEPA) for sourcing of domains of the?cash and Treasury Management? and to establish?financial Supply chains? We will analyse methods for bank and capital market communication. At the end of the course, you should have acquired theoretical and methodological knowledge and you should have a solid understanding for the requirements of the?cash and Treasury Management? of regional and international companies be acquainted with the theoretical basics of the methods that are used in practice of the?cash and Treasury Management? You should be able to optimize the operational liquidity flows with reference to the risks and costs of the?cash and Treasury Management? as well as nearby business sectors. In this module, the theoretical basics for the contents mentioned above will be discussed. Significant contents of this course will be reinforced by?case Studies?. These?Case Studies? will be worked out in teams and the results will be discussed within all participants. In this way, the communicative and the team competence will be developed. In some?case Studies?, questions of acting ethically will arise and the students will have to confront with them. Lehrformen/Lernmethode: Modul 2.1.: Methodologically, there will be a combination of lectures and the discussion of texts and films in the operational practice. Eingangsvorauss.: Anmeldeformalitäten: Sonstiges: Prüfungsart: Prüfungsform: Modul 2.2.: Case Study Method The students should have sufficient English language skills in order to be able to work on the preparation and follow-ups of the English reports and case studies. Modules of first and second semester can be exchanged. Each module may be selected only once. Usage of the module in other courses of study: Financial Services Management Prüfungsleistung Klausur (written Exam 180 min) Seite 1

We will discuss the day to day business operations of the treasury departments, for example: the cash delivery and collection of retail businesses the control of bank deposits by means of Pooling and

2 Gesamtprüfungsanteil: 0,0 % zugehörige Veranstaltungen: Modulverantwortlich: 3. Semester - Cash and Treasury Management I 4V/Ü/S 3. Semester - Cash and Treasury Management II 2V/Ü/S Prof. Dr. Jürgen Bott Prof. Matthias Herbst Veranstaltung: Cash and Treasury Management I Veranstaltungsnr.: 2.1. Semester: 3 Umfang: 7 ECTS CP, 4V/Ü/S SWS Kurzzeichen: Häufigkeit: WS Seite 2

Semester - Cash and Treasury Management II 2V/Ü/S Prof. Dr. Jürgen Bott Prof.

3 Inhalt: 1. Introduction into the course 1.1. Overview, learning outcomes, working methods, literature 1.2. Development of the means of payment 1.3. Treasury Management in change 2. Planning and controlling of the Cash Flow 2.1. Cash Flow Account and Codes 2.2. Risk and Interest Rate optimized investment of liquidity 2.3. Liquidity Controlling 2.4. Working Capital Management 2.5. External conditions for a group-wide Liquidity Management 3. Establishment of the Cash-Pooling structure 3.1. Objectives of Cash-Pooling 3.2. Types of Cash-Pooling Target Balancing Trigger Balancing National Pooling Steps of Cash-Pooling Special forms 3.3. Success factors 3.4. Legal and fiscal external conditions 4. Risk Management in Treasury 4.1. Risks in an overview Foreign Exchange Risk Interest Rate Risk Credit Risk 4.2. Practical Example 5. Methodology of Risk Management 5.1. Consideration of Opportunities and Risks 5.2. Concept of Risk Management 5.3. Reading: Treasury of Trader 6. Treasury Accounting / Hedge Accounting 6.1. Hedge Accounting according to IAS Cash Flow Hedge Accounting 6.3. Practical Examples for intercompany Deliveries and Services 6.4. Fair Value Hedge Accounting and its presentation on the balance sheet 6.5. Practical Example: Treasury Centre 7. IT Standards in Treasury Management 7.1. SWIFT 7.2. SEPA 7.3. Practical Examples 8. Payment Factory and Inhouse Banking 8.1. Legal basis KWG : (German) Banking Law PSD 8.2. Practical Examples Payment Factory?? and Inhouse Banking? 9. Relation between Treasury and capital markets as well as banks 9.1. Financial Market Communication 9.2. Negotiation with Banks Rating agencies 10. Financial Supply Chain Management Supply Chain Financing Optimized means of payment as part of the Marketingmix Role of Banks and Capital Markets 11. Treasury Management in retail Cash Logistics 12. Electronic Payment Seite 3

External conditions for a group-wide Liquidity Management 3. Establishment of the Cash-Pooling structure 3.1. Objectives of Cash-Pooling 3.2. Types of Cash-Pooling 3.2.1. Target Balancing 3.2.2. Trigger Balancing 3.

4 Hinweise zu Literatur/Studienbehelfe: Parsons, J., Mello, A., Lecture Notes on Advanced Corporate Finance Risk Management. Amit, R., Liechtenstein, H., Prats, J., Millay, T., Pendleton, L., Single Family Offices: Private Wealth Management in Family Context. Rieg, R. und S., Cash Flow-orientierte Unternehmenssteuerung, in: Bilanzbuchhaltung und Controlling (BC), Heft 08/2001. Lammer, T., Pammer, M., Zahlungsverkehr im Umbruch, Beitrag in TreasuryLog 2/2006 Schwabe, Ley &Greiner (Hrsg.), Wien 2006, S Hornstein, J., Schmeiser, W., Corporate Treasury Bausteine einer erfolgreichen Inhouse Bank, in: Schwabe, Ley &Greiner (Hrsg.), TreasuryLog, 2/2006, Wien Roland Berger Strategy Consultants, Kapitalkosten als strategisches Entscheidungskriterium, Studie, Januar Standard &Poor s, Corporate Ratings Criteria. UBS Investment Bank, Strategic Decapitalisation: Does Excess Cash Matter?, Pellens, B., Fülbier, R. U., Gassen, J., Internationale Rechnungslegung, IFRS 1 bis 7, IAS 1 bis 41, IFRIC-Interpretationen, Standardentwürfe, Aufgaben und Fallstudien, Stuttgart 2006 (neueste Auflage). Adler, H., Düring, W., Schmaltz, K., Rechnungslegung nach Internationalen Standards Kommentare (neueste Auflage). Pooling and Corporate Treasury Centralization: Texalco New competitors: 7elven Risk Management: TUI AG, Celanese AG Interest Rate Management: Bayer AG, E.ON AG IT Projects, SWIFT: European Aeronautic Defence and Space Company EADS NV Hedge Accounting: BMW AG Payment Factory: Robert Bosch GmbH Lehrsprache: English max. Teilnehmerzahl: 20 Arbeitsaufwand: 210 Stunden Gesamtaufwand: 48 Stunden Präsenzzeit, 162 Stunden Selbststudium Verantwortlich: Prof. Dr. Jürgen Bott Veranstaltung: Cash and Treasury Management II Veranstaltungsnr.: 2.2. Semester: 3 Umfang: 3 ECTS CP, 2V/Ü/S SWS Kurzzeichen: Häufigkeit: WS Inhalt: Case studies will be updated at the beginning of every course. Four to five case studies will be discussed in this course. Seite 4

, Pammer, M., Zahlungsverkehr im Umbruch, Beitrag in TreasuryLog 2/2006 Schwabe, Ley &Greiner (Hrsg.), Wien 2006, S. 3 16. Hornstein, J., Schmeiser, W.

5 Hinweise zu Literatur/Studienbehelfe: Parsons, J., Mello, A., Lecture Notes on Advanced Corporate Finance Risk Management. Amit, R., Liechtenstein, H., Prats, J., Millay, T., Pendleton, L., Single Family Offices: Private Wealth Management in Family Context. Rieg, R. und S., Cash Flow-orientierte Unternehmenssteuerung, in: Bilanzbuchhaltung und Controlling (BC), Heft 08/2001. Lammer, T., Pammer, M., Zahlungsverkehr im Umbruch, Beitrag in TreasuryLog 2/2006 Schwabe, Ley &Greiner (Hrsg.), Wien 2006, S Hornstein, J., Schmeiser, W., Corporate Treasury Bausteine einer erfolgreichen Inhouse Bank, in: Schwabe, Ley &Greiner (Hrsg.), TreasuryLog, 2/2006, Wien Roland Berger Strategy Consultants, Kapitalkosten als strategisches Entscheidungskriterium, Studie, Januar Standard &Poor s, Corporate Ratings Criteria. UBS Investment Bank, Strategic Decapitalisation: Does Excess Cash Matter?, Pellens, B., Fülbier, R. U., Gassen, J., Internationale Rechnungslegung, IFRS 1 bis 7, IAS 1 bis 41, IFRIC-Interpretationen, Standardentwürfe, Aufgaben und Fallstudien, Stuttgart 2006 (neueste Auflage). Adler, H., Düring, W., Schmaltz, K., Rechnungslegung nach Internationalen Standards Kommentare (neueste Auflage). Pooling and Corporate Treasury Centralization: Texalco New competitors: 7elven Risk Management: TUI AG, Celanese AG Interest Rate Management: Bayer AG, E.ON AG IT Projects, SWIFT: European Aeronautic Defence and Space Company EADS NV Hedge Accounting: BMW AG Payment Factory: Robert Bosch GmbH Lehrsprache: English max. Teilnehmerzahl: 20 Arbeitsaufwand: 90 Stunden Gesamtaufwand: 24 Stunden Präsenzzeit, 66 Stunden Selbststudium Verantwortlich: Prof. Matthias Herbst Seite 5

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