Entries by treasuryXL

Looking back after 10 years of SEPA

| 26-02-2018 | Paul Stheeman |   Last month we saw the anniversary of several historical moments. 1000 years ago, in January 1018 the Peace of Bautzen ended the German-Polish War. More recently, in January 1998, American President Bill Clinton surprised the world by denying in a press conference that he had sexual relations with […]

Internal Fraud – or how not to cheat yourself

| 22-02-2018 | Lionel Pavey | Most companies, regrettably, experience internal fraud. The financial value of the loss can be small or large – however the impact is the same. Internal investigations, procedural reviews, the time spent on detection, possible prosecution, together with the potential loss of reputation are significant factors above and beyond the […]

High Road or High Horse?

| 21-02-2018 | Pieter de Kiewit | I want to include you in my search for what is right. Newspapers don’t publish what is right but what sells (for the Dutch, why did the Volkskrant publish the story of Jillert Anema this week?). Politicians don’t work from their convictions but what gets them votes. Large […]

EU Budget – the effects of fiscal policy

| 20-02-2018 | treasuryXL | Every year the EU raises money by applying a levy on member states that represents a percentage of their Gross National Income (GNI). The EU Budget operates on a 7 year plan and then an annual budget is proposed and agreed. The EU strives to use 94% of expenditure on […]

Are public debts sustainable?

| 19-02-2018 | treasuryXL | A few weeks ago the EU Commission released a report on debt sustainability within the EU. It provides an overview of the challenges faced by member countries over the short, medium and long term to meet the original convergence criteria – specifically, that existing Government debt is less than 60% […]

IFRS 16 – a new lease of life

| 16-02-2018 | Lionel Pavey | Leasing is a common method used in business to benefit from using an asset. The part owning the asset is called the lessor who agrees to allow the user – the lessee – to use the asset, in return for a rental fee. The lessee also has to agree […]

GDPR and its effects on the bottom line

| 15-02-2018 | treasuryXL | On the 25th May 2018, GDPR – regulation by the European union – will come into effect. It requires any company that does business within the EU to protect the privacy relating to the data held on consumers, as well as restricting the types of data that can be collected. […]

De 403-verklaring van Shell inzake de NAM. Een analyse.

| 14-02-2018 | Theo Paardekooper |   De juridische en fiscale structuur van een groep van ondernemingen is een belangrijk onderdeel van het framework waarin een treasurer zijn werkzaamheden verricht. Bij het aangaan van aansprakelijkheid voor het uitvoeren van een groot bouwkundig project, het geven van borgstelling voor financieringen en het sluiten van cashpools is […]

Can it all be about the Treasury yield?

| 13-02-2018 | treasuryXL | Since the beginning of February there has seen large declines in all the major stock markets – Dow Jones down 9%, AEX down 7%, DAX down 7%, FTSE down 5%. The major reason given is that the market has been disturbed by the thought that interest rates in the US […]

TREASURY FOR NON-TREASURERS: The good, the bad and the ugly of outsourcing

| 12-02-2018 | treasuryXL | In January 2018, Carillion – a British construction, engineering and facilities company – entered into liquidation. They had been in existence since 1999 after a demerger from Tarmac, which had been founded in 1903. They were the second largest construction company in the British isles, employing more than 40,000 people […]