Cash management - cash management objectives, cash management in context, managing bank accounts, electronic banking, treasury workstations, international aspects and the tax interface; foreign currency mangement - foreign exchange exposure, economic exposure explained, hedging currency exposure, hedging techniques, tax treatment of exchange gains, losses and hedging transaction; exchange control; corporate borrowing policy - maturity profile, currency mix, fixed/floating rate mix, interest rate sensitivity; loan finance-common tax issues - interest withholding tax, thin capitalization rules, interest deductibility; eurobonds; deep discount securities; sterling commercial paper (SCP); financial futures; interest rate swaps; forward rate agreements (FRAs); interest date guarantees (IRGs); currency swaps; currency options; sundry international financing techniques - leasing, back-to-back loans, parallel loans; inter-company pricing and invoicing policy - re-invoicing; operations with external shareholders, associated companies and joint ventures - structuring joint venture investments, problems of local participation, taxation considerations; group dividend planning - dividend mixer companies, double tax relief. Appendix: financing checklist for overseas subsidiaries.
