国12国际营运资金管理（国外英文资料）.docVIP

国12国际营运资金管理 The twelfth chapter is international working capital management Learning focus Learning through this chapter, you should: Understand the contents of international working capital management Understand the advantages of centralized cash management Grasp the characteristics of multilateral netting Grasp the types and contents of international corporate funds movement Grasp the constraints of international capital flows Grasp the concept and positive role of international transfer prices Grasp the international transfer pricing methods and their respective characteristics Grasp the actual application of international transfer prices Master the method of avoiding all kinds of control Section 1 management of international working capital stock International working capital management includes two aspects: the management of working capital stock and the management of working capital flow. The stock management of working capital focuses on various types of funds disposal, with the aim of making the cash balance, accounts receivable and inventory at the best holding level. The flow of working capital management focuses on the transfer of funds from one place to the ground, its purpose is to make money to get reasonable placement, determine the best location and the best currency, to avoid risks and losses all foreseeable. I. cash management (1) contents of cash management; Cash here refers to working capital items, including imprest, bank (current) deposits, certificates of deposit and securities. It is characterized by high liquidity, but poor profitability. 1. cash holdings (1) holding form; (2) holding time; (3) holding currency; 2. cash transfers From a domestic perspective, the cash transfer process involves only transfer costs and interest losses. But from an international point of view, the transfer of funds in the process is also faced with the exchange rate risk. Therefore, international companies must consider designing a cash transfer network that mee