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21 January 2015

A great New Year gift… hedge accounting might get easier in 2016

By Olga Cileckova The new hedge accounting rules – IFRS 9 – are greatly welcomed by the majority of corporate treasurers. They were finalised in 2013 with an effective date in 2018 and early adoption was allowed and exercised by some non-EU entities. However, early adoption was not open to...

13 January 2015

Managing foreign currency risk

By Sandeep Goenka Companies of all sizes are increasingly having to do business in a variety of currencies as they look for growth in new markets and procure more goods and services internationally. Businesses are affected by exchange rate movements in relation to overseas suppliers, customers and indirectly their competitors....

08 December 2014

Give credit where credit is due

By Rod Staples What next for the Treasurer? As the recession is appearing to pass into recent history, Treasurers can be forgiven for thinking that their responsibilities are stabilising. But with increasing pressure to prove their worth, many Treasurers are looking for the next area where they can demonstrate value....

28 November 2014

Treasuryanity

By Zoe Ambache Follow @ZoeAmbache I am a believer in “Treasuryanity”, what I mean is that I believe that organisations should invest in efforts to identify their full portfolio of financial risks. Often I see companies happy to ignore what isn’t easy or obvious to identify such as broader FX,...

14 November 2014

UK GAAP rules: the countdown has begun… 45 days left

By Olga Cileckova Treasury accounting rules are changing. The new UK GAAP rules will mean more instruments carried at fair value and increased income statement volatility unless hedge accounting is applied. This will impact key ratios, reserves, covenants and distributable profits. And it’s the stand-alone accounts that drive the tax...

20 October 2014

The importance of working capital management

By Robert Smid & Anton Koupenov European companies could release a total of €441bn from working capital if they match upper quartile performance in their sector; an average of €454m per company. Since 2010 the largest global companies have rebounded strongly from the financial crisis, achieving considerable revenue growth. Though...

10 October 2014

An approach to Treasury in emerging markets

By David Stebbings Follow @DavidStebbings1 The current economic climate is presenting the treasury community with many varied and conflicting challenges and opportunities. Increasing regulation, foreign exchange and commodity price volatility, instability in the eurozone, the credit worthiness of banks and their appetite to lend, the effect of high profile failures...

09 October 2014

EuroFinance Budapest and our 2014 global treasury survey results launch

By David Stebbings Follow @DavidStebbings1 The financial crisis brought treasury firmly into the spotlight through the need to manage cash, liquidity and risk. In the years that followed, treasury teams expanded their influence more widely across the organisation – getting closer to business operations and departing from the historical transactional...

10 April 2014

Considering the impact of the change in client money rules on Treasury operations

By Naresh Aggarwal and Heather Page Client money rules are being further strengthened. As a result, Treasurers need to ensure that they can clearly identify client from corporate money. Getting it wrong can (and has) resulted in significant fines - SEI was fined £900k in November 2013, Aberdeen was fined...

17 March 2014

EMIR reporting post go-live update

February 12, 2014 was the big day for counterparties conducting trading activities in OTC or exchange traded derivatives to begin reporting to Trade Repositories (TR). We outline below market feedback received post go-live as well as key challenges faced by corporates and next steps. How did day 1 go? Several...