Mapping Currencies Across Countries Mapping Currencies Across Countries: It is evident that no one single world currency exists. There are over 180 currencies recognized as legal tender in circulation throughout the world. The most widely used list of currencies is known as ISO 4217, which is a standard published by the International Organization for Standardization or the ISO. The ISO is an international standard-setting body composed of representatives from various national standards organizations, and the ISO 4217 currency codes shown in this interactive map are used in banking and business globally. While many of us are familiar with the “Major” currencies, which include the euro, British pound sterling, Australian dollar, New Zealand dollar, United States dollar, Canadian dollar, Swiss franc, and Japanese yen, there are so many more currencies to explore. This interactive map helps you explore the world through the lens of currency. All 180 currencies in circulation are mapped using geographic coordinates and ISO 4217 currency codes. Simply click on the dots on the map to reveal the ISO 4217 currency code, currency name, country. To learn more about conquering currency risk, start your FX risk management training today, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples & events at FXCPE.com. Start FX Training January 18, 2022By FX Initiative Examples, General accounting, business, cpe, currency, development, education, events, examples, exchange, finance, foreign, forex, fxcpe, fxinitiative, global, international, management, payments, professional, risk, training, treasury 0 0 Comment
2022 Program: Currency Risk Management Training FX Initiative is pleased to present our 2022 program on currency risk management training to our global audience of finance, accounting, and treasury professionals. Download the PDF brochure and discover our foreign exchange (FX) continuing professional education (CPE) training videos, software tools, and webinar topics at FXCPE.com. Our mission is to help global businesses and sales professionals communicate FX risk management best practices efficiently and effectively. FX Initiative is a member of the National Association of State Boards of Accountancy (NASBA) National Registry of CPE Sponsors, and approved for self-study, internet-based, and in-person programs. Download the PDF Since 2010, FX Initiative works with Fortune 500 companies, small and medium-sized enterprises (SMEs), and FX product & service providers on understanding, identifying, assessing, and mitigating currency risk. FX Initiative is an unparalleled resource for foreign exchange risk management and continuing professional education. Managing currency risk remains a high priority for global organizations in 2021. To optimize your firm's international operations, start your FX risk management training today, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples & events at FXCPE.com. Start FX Training January 11, 2022By FX Initiative General 2022, accounting, brochure, business, CPE, currency, derivatives, education, events, examples, finance, fxcpe, fxinitiative, global, hedging, international, management, multinational, payments, risk, trading, training, treasury, webinars 0 0 Comment
January 2022 Newsletter New Year Knowledge: Read our January newsletter and discover the latest blog posts and insights from FX Initiative on currency risk management. We help finance, accounting, treasury, and sales professionals stay up to date with new training content, CPE webinars, and helpful tips & resources. Scale the learning curve quickly and easily with our foreign exchange risk management training, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples and events at FXCPE.com. Start Training > View Newsletter January 4, 2022By FX Initiative General 2022, accounting, CPE, currency, derivatives, development, ecoonomics, education, events, examples, finance, fxcpe, fxinitiative, HappyNewYear, hedging, learning, management, NewYear, professional, risk, training, treasury, webinars 0 0 Comment
FX Initiative Year End Feedback FX Initiative End-of-Year Feedback: Help us enhance your experience using FX Initiative in 2022 and beyond! Thank you for supporting our mission throughout 2021 to teach FX risk management best practices. Please share what you like about our FX training and how we can do better. Take our short survey here: https://www.fxcpe.com/feedback > Start Survey December 21, 2021By FX Initiative General 2021, 2022, accounting, business, collaboration, comments, currency, education, events, examples, feedback, finance, fxcpe, fxinitiative, global, improvement, international, management, payments, reviews, risk, survey, training, treasury 0 0 Comment
End-of-Year FX Education Take advantage of end-of-year foreign exchange (FX) education by completing our 6 part foreign exchange risk management training program. Whether you need to research a foreign exchange educational topic related to your global business, or want to simulate a foreign exchange risk management strategy using our interactive examples, we offer a wide array of quality informational topics and tools that can help you manage FX risk. FX Initiative is designed to make complex foreign currency matters simple and manageable, and is accessible 24 hours a day 7 days a week to meet your global business needs whenever and wherever a foreign exchange opportunity arises so you can make the right decisions to meet your FX objectives. FX Initiative helps Banking & Treasury Professionals answer FX risk management questions such as: How to manage currency risk? How to draft a FX risk policy? Where to look for FX risk exposures? What currency risks to hedge and how? Which strategies meet FX hedge objectives? What are the economics? How to do FX accounting? Get acquainted with all of the educational topics and interactive examples available exclusively to subscribers. We encourage you to start by watching our 6 part online video series, then review and test with quizzes and CPE exams, and reinforce learning using real-world examples. Throughout your learning experience, feel free to visit our terms glossary and frequently asked questions for clarification or contact our support department for help along the way. Student Subscribers have access to the following 6 one-hour long currency risk management educational videos, as well as review quizzes, CPE Exams, CPE Credits, and Certificates of Completion: Foreign Exchange (FX) Market Overview FX Risk Exposures FX Risk Management FX Spot & Derivatives Hedging FX Transactions Hedging Foreign Subsidiaries Professional Subscribers have access to all Student benefits, plus access to our complete suite of interactive examples to help reinforce learning concepts and model risk management strategies: Currency Code Locator FX Risk Policy Drafter FX Derivative Speculator FX Transaction Simulator FX Subsidiary Consolidator FX Initiative training is available 24/7 365 to help you with FX risk policies, FX accounting, FX hedge strategies, and everything FX risk management related. Controllers and consultants alike can enhance their foreign exchange policies and procedures and simulate common hedging strategies using our collection of tools to clarify complex issues in real time to predictably mitigate currency risk when transacting across borders. FX Initiative is focused on foreign exchange and continuously strives to deliver world class foreign exchange (FX) continuing professional education (CPE), examples and events on currency risk management. To take advantage of end-of-year foreign exchange (FX) education, start your FX risk management training today, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples & events at FXCPE.com. Start FX Risk Management Training > December 14, 2021By FX Initiative General accounting, business, collars, courses, CPE, currency, derivatives, development, education, events, examples, finance, forwards, fxcpe, fxinitiative, global, hedging, internatinal, learning, management, options, payments, professional, risk, training, treasury, webinars 0 0 Comment
December 2021 Newsletter December Professional Development: Read our December newsletter and discover the latest blog posts and insights from FX Initiative on currency risk management. We help finance, accounting, treasury, and sales professionals stay up to date with new training content, CPE webinars, and helpful tips & resources. Scale the learning curve quickly and easily with our foreign exchange risk management training, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples and events at FXCPE.com. Start Training > View Newsletter December 7, 2021By FX Initiative General accounting, blog, business, CPE, currency, derivatives, development, economics, education, events, examples, finance, fxcpe, fxinitiative, global, hedging, insights, international, learning, management, newsletter, payments, professional, risk, training, treasury, updates 0 0 Comment
Recognizing FX Revenues & Receivables Recognizing FX Revenues & Receivables (Video): Explore the economic and accounting similarities and differences between forecasted and booked foreign exchange (FX) transactions using the FX Transaction Simulator tool. To learn more, start your FX risk management training today, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples & events at FXCPE.com. Start FX Training November 16, 2021By FX Initiative Examples, FX Risk Exposures, General accounting, business, CPE, currency, derivatives, development, education, events, examples, FASB, finance, fxcpe, fxinitiative, global, hedging, IASB, international, learning, management, payments, professional, risk, training, treasury 0 0 Comment
Exploring FX Economic Risk Exploring FX Economic Risk (Video): Explore the concept of foreign exchange (FX) economic risk and recognize its macro impact on the financial statements and global business opportunities. This video is a preview of FX Initiative’s FX Risk Exposures course as part of Learning Objective #1. To learn more, start your FX risk management training today, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples & events at FXCPE.com. Start FX Training November 9, 2021By FX Initiative FX Risk Exposures accounting, business, currency, dollar, education, euro, events, examples, finance, forex, fxcpe, fxinitiative, global, international, learning, management, payments, pound, risk, simulation, training, treasury, yen 0 0 Comment
November 2021 Newsletter Explore our November 2021 newsletter and discover the latest blog posts and insights from FX Initiative. We help finance, accounting, treasury, and sales professionals stay up to date with new training content, CPE webinars, and helpful tips & resources. Get started with our foreign exchange risk management training, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples and events at FXCPE.com. Start Training > View Newsletter November 2, 2021By FX Initiative General accounting, best practices, business, CPE, currency, derivatives, education, events, examples, finance, forex, fxcpe, fxinitiative, global, hedging, international, learning, management, payments, policy, risk, training, treasury, videos, webinars 0 0 Comment
Hypothetical FX Hedging Simulations To become proficient in any skill, including currency risk management, practice makes perfect. To help companies practice, FX Initiative’s Foreign Exchange Transaction Simulator addresses a wide variety of FX scenarios by stress-testing hypothetical FX hedging strategies. This interactive risk modeling tool illustrates the economics and accounting of the most common hedging strategies for underlying foreign exchange exposures such as revenues, expenses, receivables, and payables. You can simply input your company specific and foreign exchange market variables, and then select your hedging strategy, which includes not hedging or hedging with a forward contract, vanilla option or zero cost collar. The resulting output is a highly detailed interactive FX risk analysis that charts the economic payoff of your selected hedging strategy, ranks the alternative hedging strategies, and reports the accounting journal entries and t-accounts with authoritative references to U.S. generally accepted accounting principles (GAAP). Behind the scenes, our robust pricing engine and database simplifies the risk analysis process for you so you can focus on the bottom line impact to your business. This versatile tool transforms 16 inputs into one information rich analysis in 3 easy steps. Step 1 is to select (1) the Underlying Exposure and input the related variables of (2) Functional Currency, (3) Foreign Currency, (4) Underlying Notional Amount, (5) Beginning Exchange Rate, (6) Currency Quoting Convention, (7) Start Date, (8) End Date and (9) the Day Count. Step 2 is to select a (10) Hedging Strategy and input the related variables of (11) Hedge Ratio %, (12) Domestic Interest Rate, (13) Foreign Interest Rate, (14) Implied Volatility, and (15) the Collar Range. Step 3 is to forecast (16) the ending exchange rate to see how positive and negative changes in exchange rates impact the cash flow and financial reporting of your selected hedging strategy. This FX risk management web application customizes strategies and can be modified efficiently and effectively. For example, if you want to change your underlying exposure or hedge strategy, it’s as simple as one-click. If you want to know which strategy yields the best outcome, all 4 strategies are ranked for you automatically. If you want to see how the default or elective accounting treatment differ, the journal entries and t-accounts are instantly presented side-by-side. This Foreign Exchange Transaction Simulator acts as your own personal quantitative analyst, and puts you in a positions to make a qualified foreign exchange risk management decisions. To begin practicing hypothetical FX hedging, start your FX risk management training today, which provides 24/7 365 access to our complete suite of foreign exchange (FX) continuing professional education (CPE), examples & events at FXCPE.com. Start FX Risk Management Training > October 19, 2021By FX Initiative FX Transaction Simulator, General accounting, business, cashflow, collar, CPE, currency, derivative, economics, education, events, examples, expense, finance, forex, forward, fxcpe, fxinitiative, global, hedge, international, management, option, payable, payments, receivable, revenue, risk, simulation, training 0 0 Comment