Author : | Jae K. Shim, Ph.D., CPA |
Course Length : | Pages: 182 ||| Review Questions: 72 ||| Final Exam Questions: 68 |
CPE Credits : | 13.5 |
IRS Credits : | 0 |
Price : | $110.95 |
Passing Score : | 70% |
Course Type: | NASBA QAS - Text - Technical - NASBA Registry |
Primary Subject-Field Of Study: | Finance - Finance for Course Id 855 |
Description : | This course is designed for managers working for multinational companies (MNCs) as well as accountants, CFOs, controllers, treasurers, and international investors. In a modern economy, neither businesses nor individual investors can afford to be ignorant of the basic concepts of international finance. Changes in exchange rates and differences in national inflation and interest rates can affect the competitive position of businesses regardless of whether they are engaged in international operations. For companies that are engaged in international business, national differences in banking, commercial laws, regulations, and political stability also complicate decision making. Today’s investors must also understand the effects of, and interactions among, exchange rates, inflation rates, and interest rates if they wish to maximize their returns and minimize their risks. The study of multinational finance constitutes an essential component of a modern business education. The subject multinational finance is offered in a variety of titles including international finance, global finance, international financial management, or financial management of multinational corporations, etc. at both the undergraduate and graduate levels. Controllers’ Guide to Multinational Financial Management provides a clear and concise introduction to international finance. This course is written and compiled for working professionals engaged in the fields of international finance, global trade, foreign investments, and banking. It may be used for both day-to-day practice and for technical research. This course is a practical reference of proven techniques, strategies, and approaches that are successfully used by professionals to diagnose multinational finance and banking problems. The course covers virtually all important topics dealing with multinational business finance, investments, financial planning, financial economics, and banking. This course will benefit accountants, practicing financial analysts, CFOs, controllers, financial managers, treasurers, money managers, fund managers, investment analysts, and professional bankers, who are engaged in multinational operations. Controllers’ Guide to Multinational Financial Management will enlighten the practitioner by presenting the most current information, offer important directives, and explain the technical procedures involved in the aforementioned dynamic business disciplines. The course applies to large, medium, or small multinational companies. It will help you to make smart decisions in all areas of international finance and banking. You’ll find ratios, formulas, examples, applications, exhibits, charts, and rules of thumb to help you analyze and evaluate any global finance-related situation. |
Usage Rank : | 0 |
Release : | 2020 |
Version : | 1.0 |
Prerequisites : | None. |
Experience Level : | Overview |
Additional Contents : | Complete, no additional material needed. |
Additional Links : |
Controllers Guide to Multinational Financial Management Part 4
|
Advance Preparation : | None. |
Delivery Method : | QAS Self Study |
Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
Revision Date : | 07-Jan-2021 |
NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
Approved Audience : | NASBA QAS - Text - Technical - NASBA Registry - 855 |
Keywords : | Finance, Controllers, Guide, Multinational, Financial, Management, v10, cpe, cpa, online course |
Learning Objectives : |
Chapter 1
2. Distinguish the factors that complicate financial decision making in an international environment. Chapter 2
2. Recognize the different conventions for exchange rate quotation. 3. Compute the rate of exchange for a foreign. 4. Identify the functions of foreign exchange markets. Chapter 3
2. Recognize how the bid/ask rates are used in the foreign exchanges. Chapter 4
2. Identify the purpose of hedging in the foreign currency market. 3. Recognize factors in value determination of currency options. 4. Identify different foreign currency contracts and their uses. Chapter 5
2. Recognize how international markets influence of foreign exchange prices. 3. Recognize the impact of economic policies on trade patterns and currency markets. 4. Identify factors affecting the value of the US dollar. Chapter 6
2. Recognize some systems of international exchange rate regulations such as the Bretton Woods System and the European Monetary System. 3. Identify characteristics of special international currency reserves such as special drawing rights. 4. Recognize the causes of the Financial Crisis 2007-2010. Chapter 7
2. Recognize the implications of the interest rate parity (IRP) theory. 3. Identify the influence of interest rates on forward and spot exchange rates. Chapter 8
2. Identify the concept underlying the Law of One Price. Chapter 9
2. Identify the concept of the Fisher Effect and the relationship between real interest rates in different countries. Chapter 10
2. Identify how the efficient market hypothesis is used to predict the foreign exchange rates. Chapter 11
2. Recognize how hedging techniques can decrease uncertainty. 3. Identify strategies for eliminating some transaction exposure. 4. Identify the contracts that can be used to hedge risk. Chapter 12
2. Recognize the functional currency of the firm. 3. Identify different methods for translating financial statements. Chapter 13
2. Identify methods and objectives for a company to minimize operating exposure from changes in various exchange rates. 3. Recognize strategies for controlling the degree of operating exposure to exchange rate changes. Chapter 14
2. Identify the purpose of quasi-government institutions that help businesses control credit risk, such as the Foreign Credit Insurance Association. Chapter 15
2. Recognize the principle behind practices such as multilateral netting. 3. Recognize international business practices such as countertrade. Chapter 16
2. Identify the special reasons for using Eurobonds rather than domestic bonds. Chapter 17
2. Recognize methods for reducing political risk prior to making foreign investments. Chapter 18
2. Recognize methods for evaluating proposed direct foreign investments. 3. Recognize the most frequently used methods of analyzing international capital budgeting. Chapter 19
2. Recognize different types of multinational banking organizations. Chapter 20
2. Compute the total return of an international investment. 3. Identify instruments designed to facilitate international investment. |
Course Contents : | Chapter 1: The What and Why of Multinational Finance Learning Objectives: Financial Management of a Multinational Corporation (MNC) Benefits of Understanding International Finance What Is International Finance? Conclusion Chapter 1 Review Questions Chapter 2: Foreign Exchange Rate Determination and Foreign Exchange Market Learning Objectives: Ratios of Currency Exchange Interrelated Sets of Prices Foreign Exchange Market Appreciation of the Dollar Conclusion Chapter 2 Review Questions Chapter 3: Currency Exchange: Spot, Forward, and Futures Markets Learning Objectives: Currency Spot Rates Forward Rate Contracts Foreign Currency Futures Conclusion Chapter 3 Review Questions Chapter 4: Currency Options Learning Objectives: Traded Currency Options Call versus Put Call Options Determinants of Option Prices Who Benefits From Currency Options? Currency Option Conclusion Chapter 4 Review Questions Chapter 5: Determining Floating Exchange Rates Learning Objectives: Foreign Trade Interaction of Trade and Credit Balance Of Payments Conclusion Chapter 5 Review Questions Chapter 6: Government Intervention in Currency Markets Learning Objectives: Legal, Black Market, and Offshore Rates Market Intervention Indirect Intervention Multinational Arrangements Conclusion Chapter 6 Review Questions Chapter 7: Determining Forward Exchange Rates Learning Objectives: Exchange Rate Speculation Effect of Speculation on Forward Rates Forward Rates as Unbiased Predictors of Future Spot Rates Interest Rate Arbitrage Interest Rate Parity Conclusion Chapter 7 Review Questions Chapter 8: Inflation Rates and Currency Values Learning Objectives: Exchange Rates, Inflation Rates, and Foreign Competition Law of One Price and Purchasing Power Parity Conclusion Chapter 8 Review Questions Chapter 9: International Capital Market Equilibrium Learning Objectives: Fisher Effect International Fisher Effect The International Parity Conditions and the Global Fisher Effect Conclusion Chapter 9 Review Questions Chapter 10: Forecasting and the Efficiency of International Markets Learning Objectives: Why Forecast Exchange Rates? Forecasts Implied by the Parity Conditions Forecasting under a Managed or Fixed Exchange Rate System A Framework for Evaluating Forecasts Conclusion Chapter 10 Review Questions Chapter 11: Managing Foreign Transaction Exposure Learning Objectives: Types of Foreign Exchange Exposure Ways to Neutralize Foreign Exchange Risk (Currency Risk) Nature of Transaction Exposure Managing Short-Term Transaction Exposure Managing Long-Term Transaction Exposure Conclusion Chapter 11 Review Questions Chapter 12: Managing Translation Exposure Learning Objectives: Nature of Translation Exposure Translation of Foreign Currency Financial Statements Hedging Translation Exposure Conclusion Chapter 12 Review Questions Chapter 13: Managing Operating Exposure Learning Objectives: Understanding Operating Exposure Operating Versus Transaction and Translation Exposure Methods of Reducing Operating Exposure Conclusion Chapter 13 Review Questions Chapter 14: Exports and Imports Financing Learning Objectives: International Credit Risk The Letter of Credit System Alternatives to the Letter of Credit Government Guarantees and Insurance Conclusion Chapter 14 Review Questions Chapter 15: Working Capital Management Learning Objectives: Cash Management Receivables and Payables Inventory Management Short-Term Borrowing Conclusion Chapter 15 Review Questions Chapter 16: Financing Globally Learning Objectives: Medium-Term Financing Leasing Long-Term Debt Financing Equity Financing International Sources of Financing Conclusion Chapter 16 Review Questions Chapter 17: Managing Political Risk Learning Objectives: Nature and Consequences of Political Risk Measuring Political Risk Managing Political Risk Methods for Dealing with Political Risk Conclusion Chapter 17 Review Questions Chapter 18: Foreign Direct Investment Learning Objectives: The Theory of Comparative Advantage Motives for Direct Foreign Investment Methods of Direct Foreign Investment International Capital Budgeting Case Study Conclusion Chapter 18 Review Questions Chapter 19: International Banking Learning Objectives: Eurobanks and the Eurocurrency Markets Multinational Banking Organizations Central Bank Activities European Monetary Union Conclusion Chapter 19 Review Questions Chapter 20: International Investing and Diversification Learning Objectives: Advantages of International Investing Risks in Investing Globally The Ways to Invest Globally Buying Foreign Bonds Investing in International Money Markets Buying Shares of U.S.-Based Multinational Corporations Investing in International Mutual and Index Funds Features of the Various Types of International Funds How Do You Select Funds? Sources of Information Conclusion Chapter 20 Review Questions Appendix A: International Business Planning Checklist Appendix B: Walmart International Business Risks Appendix C: Walt Disney Risk Management Contracts Appendix D: FedEx Quantitative and Qualitative Disclosure about Foreign Currency Risk Glossary |