CTP (AFP) case studies
CTP · Put your knowledge to work in context.
The Certified Treasury Professional (CTP) is a professional credential administered by the Association for Financial Professionals (AFP), the certifying body in treasury and finance. AFP describes the CTP designation as setting the standard in the treasury profession and as a global symbol of excellence, and it establishes and administers the credential alongside the Certified Corporate FP&A Professional (FPAC) designation. The CTP case studies are 5 cases and about 4,268 words.
1Kestrel Industrial: Releasing $15 Million of Working Capital Without Breaking the Revolver
Kestrel Industrial is a 240 million revenue, privately held US manufacturer. Days sales outstanding is 62 (industry 45), DPO is 28 (industry 40), and inventory is 95 days.
792 words, about 4 min2Meridian Devices: $38 Million Trapped and $15 Million Borrowed at the Same Time
Meridian Devices has 96 million of consolidated cash and a 250,000 target operating balance for each of its 63 accounts. Brazilian, Chinese and Indian subsidiaries hold 38 million that cannot be repatriated as dividends this year: Brazil imposes a minimum local balance and 15% withholding tax on dividends, China requires SAFE approval for outbound intercompany loans, and India caps interest rates on intercompany loans.
833 words, about 4 min3Northwind Chemical: Sizing an FX Hedge When the Bank Behind It Gets Downgraded
Northwind Chemical sells EUR 60 million annually into the Eurozone and incurs EUR 22 million of euro-denominated operating costs. The budget rate is 1.08; spot has moved to 1.12.
831 words, about 4 min4Ridgeline Foods: A $480,000 Bank-Detail Change and a Check-Heavy Payables File
Ridgeline Foods makes 6,200 payments a month to 1,400 suppliers: 62% checks (all-in cost 3.50 each, including postage, stop payments and fraud losses), 30% domestic ACH ( 0.35), and 8% wires ( 22, mostly international and urgent). Suppliers need remittance detail to reconcile: 18% of ACH-eligible suppliers refuse ACH unless they receive an emailed remittance advice, and 5% of total payments are international across five currencies.
920 words, about 5 min5Calloway Retail: Rebalancing a Nine-Bank Group and Justifying a TMS
Calloway Retail runs 1.1 billion of sales through 41 accounts at 9 banks with no TMS; the ERP produces bank-specific payment files and reconciliation is manual. Bank fees average 78,000 a month and average collected balances are 60 million.
892 words, about 4 min