THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(established under the Accountant Act, Laws of Kenya)
REVENUE & TREASURY MANAGEMENT CONFERENCE
Theme: Revenue and Treasury Management as a Competitive Advantage
Date: 31st July to 2nd August 2019
Venue: Travellers Beach Hotel, Mombasa
A. OVERVIEW
Liquidity management is the most critical decision for many organizations since it determines not only the profit to be made but also the magnitude and quality of investments to be undertaken by organizations. Organizations have to adequately project their working capital needs in order to be in a position to meet their obligations as and when they fall due.
If not well planned and monitored, the working capital demands of an organization can damage the company’s reputation and in severe cases lead to liquidation. Management of treasuries and cash in organizations involves among other things management of revenues, setting up appropriate controls around treasuries, risk management and cash management decisions. These decisions are dynamic and require constant monitoring and review in the face of enhanced competition.
This inaugural conference on Revenue & Treasury Management has been organized to focus on the following areas:
- Framework for Revenue Management: Re-looking Demand
The level of demand is the single most determinant of the magnitude of revenues of a business. The demand management decisions are therefore critical for the prosperity of a business. Discussion on this subject will highlight the strategies companies can employ to ensure there is sufficient demand for its products.
- Revenue Management Techniques
Companies apply several techniques to manage their revenues such as discounts, matching prices to that of competitors, customer reward and loyalty programs, mark-downs which are permanent reduction in prices, unlimited use pricing where the quantity is unrestricted over a period of time among others. All the above have varying implications on the revenues generated by a business. Discussion will review the implication of the above.
- Tools for Analysis of Revenue Management
It gives particular attention to the role of capacity analysis and the connection of revenue management to the theory of constraints. While revenue management originated in the service industries, it is now practiced across a broad spectrum of business and not-for-profit organizations.
- Emerging Issues in Revenue Management
This discussion will cover the current matters relating to the management of treasuries which among other things include cryptocurrencies, changing technology, enhanced automation, etc.
- Review of the Treasury Systems in Place
The treasurer information needs are not normally available through a company’s standard accounting systems and the enterprise resources planning (ERP) systems. Even though an ERP system is designed to aggregate all of the information used in a modern corporation, the treasurer also requires information from a variety of external sources regarding investments, foreign exchange positions, interest rates, and so forth.
Consequently, treasury systems are useful to integrate information from various sources giving useful information to the treasury staff for use in performing their tasks. The discussion will cover the treasurer’s technological needs for efficient functioning of the treasury departments.
- Cash Forecasting Techniques and Automation
Cash forecasting is absolutely crucial to the operation of every organization. A small shortfall has serious ramifications on the solvency reputation of a business. On the other hand, if organizations keep a lot of cash, they lose out on the opportunity to earn returns from potential investments. A quality cash forecast ideally allows the treasurer to determine how much cash is available for short, medium, and long-term investments, each having progressively higher returns.
The discussion will cover how to construct a cash forecast and automate the forecasting the information contained within it, and how to create a feedback loop for gradually increasing the accuracy of the forecast.
- Treasury Controls: Best Practices
Due to the big amounts often involved in many treasury functions creates a significant exposure to organizations which greatly affect their day to day operations. It is therefore necessary to have a broad set of controls that help to ensure that transactions are appropriate and organizations realize full value from their treasuries. The discussion will focus on the best global practices relating to controls for the treasury departments.
- Risk Management Strategies for Treasury and Cash Management
The management of cash and liquidity is one of the most strategic decisions for managers due to the impact it can have on the business continuity. Several risks are inherent in the management of treasuries and cash, the purpose of the discussion is to analyze the various risks faced by treasury managers and how best to mitigate against the risks.
- Managing the Treasury Function: Best Practices
The treasury department is responsible for a company’s liquidity. The treasurer must monitor current and projected cash flows and the funding needs, and use this information to correctly invest excess funds. The department must also safeguard existing assets, which calls for the prudent investment of funds, while guarding against excessive losses on interest rates and foreign exchange positions.
The discussion explores the above responsibilities of the treasury department, as well as the best practices relating to the management of treasuries.
- Cash Concentration Decisions
Larger companies with many subsidiaries, especially those with operations in multiple countries, maintain a significant number of bank accounts which may create inefficiencies in relation to cash management from tracking of the many bank accounts and balances. This creates a challenge in making centralized payments, repayment of debts or even investing. This can be solved by cash concentration where the accounts are pooled. This discussion will evaluate the various cash concentration strategies, the mechanics of pooling, and supporting policies, procedures, and controls.
B. TARGET
Head of treasury, cash managers, non-finance managers, line managers and officers with budget responsibilities, economists, scholars, among others.
C. CHARGES
| Details | Early Bird Rate
Booking and Payment received by 16/07/2019 |
Normal Rate
Booking and payment received after 16/07/2019 |
| Associate Members/Accounting Trainees | Kshs. 50,000 per Delegate | Kshs. 55,000 per Delegate |
| Kenyan based Members/ACCA Members and IFAC PAOs | Kshs. 60,000 per Delegate | Kshs. 65,000 per Delegate |
| Non-Member | Kshs. 65,000 per Delegate | Kshs. 70,000 per Delegate |
D. CONTINUOUS PROFESSIONAL DEVELOPMENT UNITS
Members of ICPAK and those from other reciprocating professional bodies will earn 20 CPD units upon successfully attending all conference sessions.
E. NATIONAL INDUSTRIAL TRAINING AUTHORITY (NITA) REIMBURSEMENT
The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke).
F. PARTNERSHIP OPPORTUNITIES
The conference presents a perfect opportunity for organizations to showcase their products & services to a target group with high purchasing powers, both on personal and corporate levels. You will also have a unique opportunity for brand positioning and communication that will enjoy optimal visibility. Armed with significant purchasing power and decision-making authority, the audience are a key target group for businesses. Sponsorship opportunities range from cocktail, gala, media sponsorships, exhibitions and advertising. For more information or enquiries please email raphael.nguli@icpak.com
Channel further requests to Judith Wambura via telephone +254 719 074000/+254 719 074307 or email philemon.munabo@icpak.com.com with a copy to molly.mwangi@icpak.com
We encourage members to regularly visit our website www.icpak.com for updates.
