Backing up: Module 3
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!