(BQ) Part 2 book "Corporate finance and investment" has contents: Treasury management and working capital policy, short-term asset management, short- and medium-term finance, long-term finance, capital structure and the required return, capital structure and the required return, foreign investment decisions,.and other contents. | 10/26/05 11:41 AM Page 321 . Part IV SHORT-TERM FINANCING AND POLICIES The acquisition of every asset has to be financed. Companies obtain two forms of finance, short and long term, although, in practice, it is difficult to make a rigid demarcation between them. Part IV is devoted to analysing short-term financing, while the analysis of long-term financing decisions appears in Part V. Chapter 13 offers an overview of the financing operations of the modern corporation, focusing on balancing the inflows and outflows of funds in the process of treasury management. The chapter examines the importance of working capital management, and how the financial manager may use the derivatives markets. Chapter 14 looks at managing short-term assets – cash, stocks, debtors – and the financing implications of different working capital policies. Chapter 15 describes the various forms of short(and medium-) term sources of finance, especially trade credit and the banking system, and also discusses the analysis of leasing decisions and the finance of foreign trade. Chapter 13 Treasury management and working capital policy Chapter 14 Short-term asset management Chapter 15 Short- and medium-term finance 353 379 321 10/26/05 11:41 AM Page 322 . 10/26/05 11:41 AM Page 323 . 13 Treasury Management and working capital policy Treasury Management at DS Smith plc The Group treasury strategy is controlled through a Treasury Committee, which meets regularly and includes the Chairman, the Group Chief Executive and the Group Finance Director. The Group Treasury function operates in accordance with documented policies and procedures approved by the Board and controlled by the Group Treasurer. The function arranges funding for the Group, provides a service to operations and implements strategies for interest rate and foreign exchange exposure management. The major .
