Administer Foreign Exchange transactions in an International Trading Company – Online Short Course

COURSE OBJECTIVE

The learner completing this course is able to apply a comprehension of foreign exchange concepts to the administration of the foreign exchange receipt and payment systems in an international trading company.

The qualifying learner is capable of:

• Verifying foreign exchange transactions.
• Carrying out foreign exchange receipt and payment procedures.
• Reporting on foreign exchange transactions.
  

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WHAT YOU WILL LEARN:

• Verify foreign exchange transactions.
• Supplier’s documentation is checked for correctness of foreign exchange elements and compliance to relevant exchange control regulations.
• Suppliers documentation may include but is not limited to letters of credit, commercial invoices, freight statements, customs declarations, transport documents, ammeters.
  Foreign exchange elements may include but are not restricted to foreign currency, exchange rate exchange rate dates.
• Foreign exchange payment of goods and services are examined for compliance with company systems and procedures and compliance with relevant exchange control regulations.
• Consequences of non compliance with procedures and exchange control regulations are explained in the context of international trade.
• Carry out foreign exchange receipt and payment procedures.
• Foreign exchange risk management procedures are performed in order to minimise exposure to possible exchange rate fluctuation.
• Foreign exchange risk management procedures may include but are not limited to monitoring of exchange rate fluctuations, initiating and managing forward exchange contracts.
• Foreign exchange payment receipts are converted and accounted for in terms of generally accepted accounting practices (GAAP).
• Payment methods are selected in terms of the nature of the transaction being conducted.
• Payment methods may include but are not limited to electronic banking, telegraphic transfers, bank draft, cash.
• Payment documentation is prepared in terms of the payment method selected.
• Payment is initiated in terms of authorisation limits.
• Consequences of failing to carry out foreign exchange payment and receipt procedures are explained in terms of impact on the organisation.
• Report on foreign exchange transactions.
• Reports are compiled and submitted on the organisation’s foreign exchange receipts and payments.
• Reports are compiled and submitted on the organisation’s foreign exchange risk exposure in terms of the management thereof.
• Recommendations are made regarding improvements to the organisations foreign exchange administration procedures.Duration

  You may begin at anytime and the training should take approximately 4 weeks to complete on a part time basis.

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  Course Delivery

  The course is delivered through the School of Shipping Learning website and allows you to study at your own pace. You may begin and register any time. A Subject Matter Expert and will provide you with academic support through the learning website and a Course Coordinator will also be available on email and telephone to provide you with administrative support.

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  Assessment and Award of the Certificate

  You are not required to write any exams, assessments are completed online. You will need to achieve a mark of at least 60% for each assessment to receive the certification. Should you not gain competency on your first attempt one more resubmission will be allowed at no additional cost.

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  Entry Requirements

  The only entry requirement for this course is a desire to learn and advance your career.

  In order to do this course, you will need:

  • An email account
  • Access to a computer and the internet
  • Be able to open and read PDF documents
  • Read and write in the English language

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