Finance, Tax & Insurance

The finance division at K+S is divided into five units which are described briefly below:

Controlling

Controlling is responsible for the planning, management and monitoring of corporate goals. It also functions as an in-house adviser for the management team. The controlling unit prepares earnings estimates and economic appraisals/calculations, analyzes deviations from planning and bears responsibility for the company’s long-term financial planning. Controllers operate in many different areas, such as Human Resources, Procurement and Logistics.

Accounting

The employees of the accounting department draw up regulations and develop processes for adequate accounting, and analyze the balance-sheet treatment of complex business transactions. Furthermore, periodic financial reports are prepared, which are made accessible to internal and external addressees. Accounting at K+S also provides support for projects and, for examples, is involved in such specific matters as credit management and receivables management. In addition to this, the employees are responsible for the performance of general bookkeeping tasks in the following areas: debtors, creditors, asset bookkeeping and financial accounting.

Treasury

The treasury department is charged with securing the company’s liquidity at all times by ensuring the available funds are optimally available and by procuring necessary external funds on the capital markets. Other key responsibilities of the treasury department are to monitor and hedge against currency and credit risks.

Taxes

<p>Developing tax strategies, preparing tax plans, minimizing tax risks and overseeing relevant projects: The employees of the tax unit provide advice on the subject of taxes and assist with tax audits or represent the tax interests of the K+S Group.</p>

Insurance

<p>The main objective of the insurance unit is to ensure adequate risk and premium insurance cover for the K+S Group. To minimize risks, the unit concludes insurance policies and, in this regard, ensures balance sheet protection.</p>

 

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