Financials & Accounting – Margins & Spreads

Description

Programme

This course concerns a 1-day online workshop covering the following topics:

• Valuation
  • Pricing versus valuation
  • Historical cost accounting vs. mark-to-market (M-to-M) valuation
  • M2M reporting
  • Mark-to-model
• Book structures
  • Accounts (trading, sales, asset management)
  • P/L responsibility
  • Internal transfers
  • Internal transfer pricing
• Performance measures
  • P/L
  • Gross operational margin
  • Gross profit margin
  • Return on investment / assets / equity
• Physical assets & finance
  • Input vs. output
  • Output value minus input value
  • Financial performance
• Gross operational/processing margins
  • Transport capacity
    • Location spread
  • Storage capacity
    • Time spread
  • Combined production and consumption capacity (or processing capacity)
    • Cross-commodity spread
• Asset-backed trading
  • Hedging physical capacity by trding a futures spread (or spread future)
    • Transport capacity
      • Trading the location spread:
        • Buy term contract A
        • Sell term contract B
    • Storage capacity
      • Trading the time spread:
        • Buy term contract C
        • Sell term contract D
    • Combined production and consumption capacity (or processing capacity)
      • Trading the cross-commodity spread:
        • Buy term contract X
        • Sell term contract Y