Backing up: Module 3 recap 

Module 3 is read. I could not resist trying the pre-test again since I only have modules 4 and 5 left to read through. I have to admit the first time I took the pre-test I scored a 50%. Yes, 50%. That felt awful for me. What was even more pathetic is that I was excited to get a 64% on the pre-test after I had studied modules 1, 2, 3 and 6. But the bright side is that most of the questions I got wrong are from modules 4 and 5. Furthermore, it shows that the AFP Learning System is posing questions that test the person’s knowledge who is studying for the test. They are not “gimme” questions at all.

Module 3 was fun for me. I enjoy studying things with which I have a rudimentary familiarity; they tend to make it a bit easier. I am quite familiar with working capital management, it is a common concept that I use to discuss strategy with customers. The two chapters deal with ways finance professionals can have a better handle on their working capital; this is something that we actively educate employees of our bank on so that we can show quantifiable improvements that can be achieved with various bank tools targeted at improving working capital management.

It was interesting to read and learn about the global working capital management techniques discussed in chapter 7. I work mainly with middle market firms, many whom do not have much of a global presence. Understanding the concepts that come along with global working capital management will be imperative in the future as we grow into a more global society. It is also interesting to understand the ways that companies are able to mitigate risk, increase liquidity and reduce costs effectively. In my bank department, there is a separate group that deals with international treasury management. As the liaison between my customers and my international treasury representative, it is educational to have an idea of what types of strategies she will recommend and why.

I am trying to devote more and more time to studying while I am able, even if it is just an hour here or an hour there. I know the test is looming, so I will be continuing to put my nose to the proverbial grindstone and keep working. I hope I pass so I don’t have to go through all this worry about it again in the spring!