Treasury系列之-"Canadian Treasury Management" 宝典精华总结篇(A)

本文发表在 rolia.net 枫下论坛前几天买了本好书,<<Canadian Treasury Management>> by Jeffrey D. Sherman, a comprehensive guide to financial and treasury management in Canada. 偶

这本书涵盖的范围很广,包括了Canadian financial markets and banking, business and investment strategies, financial and cash management and treasury and risk management。

Traditional role of treasury:

之前有讲过,通常只有Canadian owned上市大公司才会有完整的treasury部门。The traditional role of treasury is to responsible for access to and the
effective use of financial resources. 所以treasury部门主要会负责以下几个functions:

- Banking and banking relationships
- Cash management
- Working capital management
- Short and long-term borrowing, including capital leases
- Investing excess funds
- Foreign currencies, trade finance and international cash flows
- Risk management and insurance
- Watch the environment (include changes in financial markets and to the regulatory environment, technology used in treasury and the competition)
- Other (eg. M&A due diligence, capital and resource allocation analysis, trade finance, benchmarking studies and consulting, project evaluation, etc.)

除了以上几个主要的functions, 有些公司的treasury部门也会负责sales and income tax compliance and reporting, and income tax planning。偶公司的Treasurer
(偶的LD)就管理着两个部门,treasury and tax。Director of Tax也直接向Treasurer 汇报。

以前不知道,原来“treasury”这个词is derived from the Latin thesaurus which is in turn derived from the Greek thesaurus, meaning a store of treasure.
如果用中文来解释就更简单 - 管理公司金库(财宝)的部门。

Treasury Management Today:

宝典里提到了几个近些年来对treasury manageament有着重大影响的developments。

- Increasing international activity and globalization, which increased the complexity and the skill required to manage and control treasury operations
- Information technology improvements, much of the day-to-day activity is automated and powerful reports are available to managers on a real-time basis
- Renewed focus on corporate governance and company-wide risk management
- Cash forecasting process has evolved from being used to project line of credit needs to an early warning system to anticipate business issues that could affect the business

以前很多人认为,treasury management不过就是dealing with the bankers, arranging wire payments and tracking cash movements。如今的treasury management可不
是那么简单的了。Treasurer, an executive officer, 在公司里有着举足轻重的地位,如果说CFO是CEO的一只左手,那Treasurer就是CFO的左手。

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  • Treasury系列之-"Canadian Treasury Management" 宝典精华总结篇(A) Treasury系列之-"Canadian Treasury Management" 宝典精华总结篇(A)
    • Thanks!
      下一节中WC management 能稍微展开一下吗?读者覆盖面应该比较广些。
      • will try! :-)
      • 你们那的CFO left-handed? :-)
        I am interested in this part too.

        "Cash forecasting process has evolved from being used to project line of credit needs to an early warning system to anticipate business issues that could affect the business"
        • Our CEO, CFO and Treasurer are all left-handed,所以偶就是Treasurer的左手。呵呵! // 会尽量完成你给布置的题目. :-)
          • Thanks!
          • Left-handed是否进你们公司特容易?明天开始练习用左手写字。
    • 谢谢,期待下文
    • 好书, 公费报销吧 :-)
      The book mentions some developments having important impacts on treasury management, look forward to seeing more details on how to handle these changes in reality.
      • 你这不是启发大家去公费买书吗?还是让Joyce帮我们看了吧。:-)
        • 总结完后有奖励吗?:-)
          • 你挑人陪你吃饭吧。travel expense 由jinx99 出。
            • 要求toysrus请偶吃饭。
    • Hoho, 羡慕死偶了,你还有时间读“闲书”。:(
      • 不能算闲书吧?:-)
        • 闲书=上班闲着看书!:-)
      • Joyce的工作就是看书,看报,喝咖啡.这里除了你谁都知道.
        • 偶的名声都是给你搞坏的。
          • You should appreciate. I'm building up your reputation. 不信你吆喝一声,这几天有多少XDJM在家猛练左手写字?都想做你的左手呢。
            • 这几天在家猛练左手写字的XDJM (包括lastdayofschool)都没戏了,因为偶不是left-handed。嘿嘿。