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Book SynopsisThis volume is a comprehensive handbook for production, marketing and finacne strategies in the commercial exploitation of fisheries. It analyses global fishing production, disposition and import trade, and strategies for Indian exporters.

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Book SynopsisFinancial Asset Pricing Theory offers a comprehensive overview of the classic and the current research in theoretical asset pricing. Asset pricing is developed around the concept of a state-price deflator which relates the price of any asset to its future (risky) dividends and thus incorporates how to adjust for both time and risk in asset valuation. The willingness of any utility-maximizing investor to shift consumption over time defines a state-price deflator which provides a link between optimal consumption and asset prices that leads to the Consumption-based Capital Asset Pricing Model (CCAPM). A simple version of the CCAPM cannot explain various stylized asset pricing facts, but these asset pricing ''puzzles'' can be resolved by a number of recent extensions involving habit formation, recursive utility, multiple consumption goods, and long-run consumption risks. Other valuation techniques and modelling approaches (such as factor models, term structure models, risk-neutral valuation, and option pricing models) are explained and related to state-price deflators. The book will serve as a textbook for an advanced course in theoretical financial economics in a PhD or a quantitative Master of Science program. It will also be a useful reference book for researchers and finance professionals. The presentation in the book balances formal mathematical modelling and economic intuition and understanding. Both discrete-time and continuous-time models are covered. The necessary concepts and techniques concerning stochastic processes are carefully explained in a separate chapter so that only limited previous exposure to dynamic finance models is required.Trade ReviewThis monograph provides a consistent and comprehensive presentation of the classical asset pricing paradigm, from the basics of the theory to the latest developments in the field. The reader's task is simplified by the consistent notation and the integrated conceptual framework that is employed; his technical facility improved by the extensive proofs of the main results that are offered; and his curiosity piqued by the extensive references to the empirical literature. The expert will find it a convenient reference and the student will find it an invaluable guide. * Michael J. Brennan, Professor of Finance at Anderson School, University of California Los Angeles, at Manchester Business School, and at King Abdulaziz University, Jeddah *Munk takes a completely fresh and well organized approach to communicating the key concepts and techniques of modern asset pricing theory. His treatment is clear, accessible, rigorously unified around the notion of state pricing, and encompasses the latest model specifications. He has set the new standard for doctoral-level courses on this subject. * Darrell Duffie, Dean Witter Distinguished Professor of Finance, at the Graduate School of Business, Stanford University *Financial Asset Pricing Theory is a rigorous, yet eminently accessible, textbook at the frontier of modern asset pricing theory with applications in portfolio management, the term structure of interest rates, and derivatives, and a nice selection of problem sets. Claus Munk's textbook is my top choice as a comprehensive and intuitive textbook for an introductory or advanced PhD course on asset pricing theory. * George M. Constantinides, Leo Melamed Professor of Finance, The University of Chicago, Booth School of Business *Table of ContentsPreface ; 1. Introduction and Overview ; 2. Uncertainty, Information, and Stochastic Processes ; 3. Portfolios, Arbitrage, and Market Completeness ; 4. State Prices ; 5. Preferences ; 6. Individual Optimality ; 7. Market Equilibrium ; 8. Basic Consumption-Based Asset Pricing ; 9. Advanced Consumption-Based Asset Pricing ; 10. Factor Models ; 11. The Economics of the Term Structure of Interest Rates ; 12. Risk-Adjusted Probabilities ; 13. Derivatives ; Appendix A. A Review of Basic Probability Concepts ; Appendix B. Results on the Lognormal Distribution ; Appendix C. Results from Linear Algebra

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Book SynopsisEngaging and lively, clear and practical, this is the most applied accounting book written specifically for business and management students.Sam Smart is the budding entrepreneur on whom the case study at the heart of this book is based. Featured at the start of each chapter, we follow Sam as he goes from starting a small business, printing sports kits for local teams, to managing a global sports business. Throughout the course of the book he assesses the success of his business, finances activities, makes pricing decisions, opens new branches, looks at cash flow, and facilitates planning, control, and investment. As we follow the case study, the core topics central to accounting are covered with clarity, imagination, and relevance, giving students the support they need to complete their course and exams with confidence. The wealth of additional examples and self-test exercises available alongside the case study enable students not only to develop an appreciation of how accounting infoTrade ReviewOffers an excellent and straightforward introduction to the world of financial and management accounting. * Dr Octavian Ionescu, Lecturer in Accounting, University of East Anglia *Table of ContentsPart One: Financial Accounting 1: The Cash Budget 2: Introduction to the Statement of Profit or Loss 3: Balancing the Basics 4: Accounting for Depreciation and Bad Debts 5: Company Finance 6: Company Accounts 7: The Statement of Cash Flows 8: Interpreting Financial Statements 9: Capital Structure and Investment Ratios Part Two: Management Accounting 10: Costs and Break-even Analysis 11: Absorption and Activity-based Costing 12: Budgeting 13: Pricing and Costs 14: Short-term Decision Making 15: Investment Appraisal Techniques 16: Measuring and Reporting Performance

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Book SynopsisIdeas about the role of management accounting systems in a firm''s strategy have changed in recent years, and this book explores the ways in which this has happened. Management control systems have frequently been seen as irrelevant to strategy, or even damaging. Controlling Strategy draws out the various ways in which management control systems can build and sustain valuable strategic roles. The book explores topics such as:*Strategic measurement;*Strategic data analysis;*The Balanced Scorecard;*Capital budgeting;*Strategy coordination;Written as an introduction to the strategic role of management control systems Controlling Strategy provides a synthesis of important work in the fields of strategy and management accounting. Academics and Advanced Students of Accounting, Strategy, or Management Studies will find the book an indispensable guide to this area.Trade ReviewAn indispensable guide for scholars and advanced students of accounting, strategy and management. * The International Journal of Accounting *Table of Contents1. Controlling Strategy ; 2. Content and Process Approaches to Studying Strategy and Management Control Systems ; 3. The Promise of Management Control Systems for Innovation and Strategic Change ; 4. What do we Know About Management Control Systems and Strategy? ; 5. Moving from Strategic Measurement to Strategic Data Analysis ; 6. Management Control Systems and the Crafting of Strategy: A Practice-Based View ; 7. Strategies and Organizational Problems: Construcing Corporate Value and Coherence in Balanced Scorecard Processes ; 8. Capital Budgeting, Coordination, and Strategy: A Field Study of Inter-Firm and Intra-Firm Mechanisms

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Book SynopsisAccounting has an ever-increasing significance in contemporary society. Indeed, some argue that its practices are fundamental to the development and functioning of modern capitalist societies. We can see accounting everywhere: in organizations where budgeting, investing, costing, and performance appraisal rely on accounting practices; in financial and other audits; in corporate scandals and financial reporting and regulation; in corporate governance, risk management, and accountability, and in the corresponding growth and influence of the accounting profession. Accounting, too, is an important part of the curriculum and research of business and management schools, the fastest growing sector in higher education.This growth is largely a phenomenon of the last 50 years or so. Prior to that, accounting was seen mainly as a mundane, technical, bookkeeping exercise (and some still share that naive view). The growth in accounting has demanded a corresponding engagement by scholars to examine Table of ContentsPreface ; 1. Linking Accounting, Organizations and Institutions ; 2. Everyday Accounting Practices and Intentionality ; 3. Institutional Perspectives on the Internationalization of Accounting ; 4. Studying Accounting in Action: The Challenge of Engaging with Management Accounting Practice ; 5. Management Accounting in a Digital and Global Economy: The Interface of Strategy, Technology, and Cost Information ; 6. Organizationally Oriented Management Accounting Research in the U.S.: A Case Study of the Diffusion of a Research Innovation ; 7. On the Relationship between Accounting and Social Space ; 8. What is the Object of Management? How Management Technologies Help to Create Manageable Objects ; 9. Governance and its Transnational Dynamics: Towards a Re-ordering of our World? ; 10. Governing Audit Globally - IFAC, the New International Financial Architecture and the Auditing Profession ; 11. The Study of Controller Agency ; 12. Sketch of Derivations in Wall Street and Atlantic Africa ; 13. Behavioral Studies of the Effects of Regulation on Earnings Management and Accounting Choice ; 14. Accounts of Science ; 15. Financial Accounting Without a State ; 16. Socio-political Studies of Financial Reporting and Standard Setting ; 17. On the Eclipse of Professionalism in Accounting: An Essay ; 18. All Offshore: The Sprat, the Mackerel, Accounting Firms, and the State in Globalization

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Book SynopsisConventional measures of national income and product and its components have proved enormously useful as indexes of economic activity and as the empirical foundations of much of macroeconomic analysis. Robert Eisner's The Total Incomes System of Accounts (TISA) brings critical new dimensions to those measures. It offers systematic extensions and expansions in an effort to count all of the output that goes into economic well-being, now and in the future. Eisner counts nonmarket as well as market production, including vast amounts of services produced by housewives and others in the home, capital formation by government and households as well as business, human and intangible capital invested in education, R&D, and health care, as well as tangible capital. He offers measures of net revaluations of tangible assets, redefines the critical boundaries between final and intermediate outputs, and presents separate sector accounts for business, nonprofit institutions, government, government ent

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Book SynopsisList of Figures List of Abbreviations PART 1: INTRODUCTION The End of a Global Age Global Finance v. National Captialism Redrawing Sovereignty in the City Accumulation and Institutional Change PART 2: THE EVOLUTION OF THE EUROMARKETS Defining Euromoney The Origins of the Eurodollar Market Developing a Foreign Market for Dollars US banks take over the London Eurodollar Market The Establishment of the Eurobond Market The State v. Market Dichotomy Historic Mechanisms PART 3: STERLING AND THE CITY-BANK-TREASURY NEXUS Sterling, the Discount Market and the Bill on London Public v. Private: Institutional Schizophrenia at the Bank of England The Return to Gold After Gold PART 4: RESTORING STERLING AFTER 1945 America v. Britain: Creating an International Monetary System Securing the Bank's Institutional Autonomy The Battle for Sterling European Payments Union Operation Robot The Climacteric of 1955 The Great Unmentionable Sterling and City Divorce PART 5: THE STATE, THE CITY AND THE EUROMARKETSTrade Review'...this is a valuable book that is well-researched and highly readable...It makes an important contribution to our understanding of the development of the international financial system...' - Ranald Michie, Bankhistorisches ArchivTable of ContentsList of Figures List of Abbreviations PART 1: INTRODUCTION The End of a Global Age Global Finance v. National Captialism Redrawing Sovereignty in the City Accumulation and Institutional Change PART 2: THE EVOLUTION OF THE EUROMARKETS Defining Euromoney The Origins of the Eurodollar Market Developing a Foreign Market for Dollars US banks take over the London Eurodollar Market The Establishment of the Eurobond Market The State v. Market Dichotomy Historic Mechanisms PART 3: STERLING AND THE CITY-BANK-TREASURY NEXUS Sterling, the Discount Market and the Bill on London Public v. Private: Institutional Schizophrenia at the Bank of England The Return to Gold After Gold PART 4: RESTORING STERLING AFTER 1945 America v. Britain: Creating an International Monetary System Securing the Bank's Institutional Autonomy The Battle for Sterling European Payments Union Operation Robot The Climacteric of 1955 The Great Unmentionable Sterling and City Divorce PART 5: THE STATE, THE CITY AND THE EUROMARKETS Locating the Historic Mechanisms in the Eurodollar Market Sir George Bolton: The Bank of England's 'Market Man' Disassociating the Eurodollar and Eurobond Markets Discovering the Onshore External Market The Bank of England View of the Eurodollar PART 6: AMERICA AND THE EUROMARKETS US Banks Operating in the London Eurodollar Market The Federal Reserve and the Continental Dollar Market The Kennedy Administration and the US Payments Deficit The US and the Eurobond The US Treasury discovers the Offshore Market in Foreign Dollars Discussing the Euromarkets with Britain Coming Late to the Feast PART 7: PUBLIC ACCOUNTABILITY V PRIVATE INTEREST GOVERNMENT The Bank of England and Public Accountability The City and Private Interest Government Musings, Questions and Conclusions Notes Bibliography Index

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Book SynopsisBased on the International Financial Reporting Standards (IFRSs) issued by the International Accounting Standards Board (IASB) in January 2010, this provides a simplified summary of the main elements - using diagrams for each of the Standards to help the reader visualize the key decisions and choices their application requires.Table of ContentsContents Preface to the 4th Edition List of Abbreviations I. Introduction II. International Financial Reporting Standards IAS 1 Presentation of Financial Statements IAS 2 Inventories IAS 7 Statement of Cash Flows IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors IAS 10 Events after the Reporting Period IAS 11 Construction Contracts IAS 12 Income Taxes IAS 16 Property, Plant and Equipment IAS 17 Leases IAS 18 Revenue IAS 19 Employee Benefits IAS 20 Accounting for Government Grants and Disclosure of Government Assistance IAS 21 The Effects of Changes in Foreign Exchange Rates IAS 23 Borrowing Costs IAS 24 Related Party Disclosures IAS 27 Consolidated and Separate Financial Statements IAS 28 Investments in Associates IAS 29 Financial Reporting in Hyperinflationary Economies IAS 31 Interests in Joint Ventures IAS 32 Financial Instruments: Presentation IAS 33 Earnings per Share IAS 34 Interim Financial Reporting IAS 36 Impairment of Assets IAS 37 Provisions, Contingent Liabilities and Contingent Assets IAS 38 Intangible Assets IAS 39 Financial Instruments: Recognition and Measurement IAS 40 Investment Property IAS 41 Agriculture IFRS 1 First-time Adoption of International Financial Reporting Standards IFRS 2 Share-based Payment IFRS 3 Business Combinations IFRS 4 Insurance Contracts IFRS 5 Non-current Assets Held for Sale and Discontinued Operations IFRS 6 Exploration for and Evaluation of Mineral Resources IFRS 7 Financial Instruments: Disclosures IFRS 8 Operating Segments IFRS 9 Financial Instruments III. Interpretations of IFRIC IFRIC 1 Changes in Existing Decommissioning, Restoration and Similar Liabilities IFRIC 2 Members' Shares in Co-operative Entities and Similar Instruments IFRIC 4 Determining whether an Arrangement contains a Lease IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation Funds IFRIC 6 Liabilities arising from Participating in a Specific Market- Waste Electrical and Electronic Equipment IFRIC 7 Applying the Restatement Approach under IAS 29 "Financial Reporting in Hyperinflationary Economies" IFRIC 9 Reassessment of Embedded Derivatives IFRIC 10 Interim Financial Reporting and Impairment IFRIC 12 Service Concession Arrangements IFRIC 13 Customer Loyalty Programmes IFRIC 14 IAS 19-The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction IFRIC 15 Agreements for the Construction of Real Estate IFRIC 16 Hedges of a Net Investment in a Foreign Operation IFRIC 17 Distributions of Non-cash Assets to Owners IFRIC 18 Transfers of Assets from Customers IFRIC 19 Extinguishing Financial Liabilities with Equity Instruments

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Book SynopsisAn immersive history of fifty major American banks and their role in transforming the nation into a leading world power.Trade ReviewGenealogy of American Finance is sure to motivate interesting conversation, whether around a coffee table or in a classroom. Its strength comes from its breadth and level of detail-the scope of this genealogical approach has not been previously undertaken, and the fact that it manages to remain balanced and engaging is impressive. -- Matt Jaremski, Colgate University Genealogy of American Finance is a treasure trove of information on American banking and its history, in an unusual-and unusually useful-format. -- John Steele Gordon, author of Empire of Wealth: The Epic History of American Economic Power Wright and Sylla have produced an extremely valuable edition on the history of the fifty institutions central to American economic life. I highly recommended it to anyone with an interest in business history. -- Charles R. Geisst, author of Wall Street: A History and Beggar Thy Neighbor A treasure-trove history of America's top banks. Library Journal In addition to tracing the histories of America's 50 largest financial corporations, this richly illustrated coffee-table book spotlights many of the important economic events that influenced the evolutions of those institutions. -- Michael A. Martorelli Financial Analysts Journal A fascinating compilation of the genealogical histories of the fifty largest financial institutions in the United States... Clearly written and enjoyable to read. I expect that all readers will learn something new from the book and that the vast majority of readers will learn quite a bit. I recommend it with enthusiasm. -- Daniel Giedeman EH.Net A lavishly illustrated volume... Genealogy of American Finance is a remarkable and durable achievement, definitive and magisterial. -- Peter Eisenstadt Busines History ReviewTable of ContentsForeword, by Charles M. Royce Overview of the Big 50 Introduction: A Brief History of Banking in America Banks, Holding Companies and Corporate Genealogies: Necessary Technical Talk The Big 50 Ally Financial American Express American International Group BancWest Bank of America Bank of New York Mellon BB&T BBVA Compass Bancshares BMO Financial BOK Financial Capital One Financial Charles Schwab CIT Group Citigroup City National Comerica Deutsche Bank Discover Financial E*Trade Fifth Third Bancorp First Niagara General Electric Capital Goldman Sachs HSBC North America Hudson City Bancorp Huntington Bancshares John Deere Capital JPMorgan Chase KeyCorp M&T Bank Morgan Stanley New York Community Bancorp Northern Trust People's United Financial PNC Financial Services Popular Principal Financial Group RBS-Citizens Financial Regions Financial Santander Holdings USA State Street SunTrust Banks Synovus Financial TD Bank US Holding U.S. Bancorp UnionBanCal USAA Utrecht-America Holdings Wells Fargo Zions Bancorporation Conclusion Illustration Credits Index Acknowledgments

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Book SynopsisFinancial aspects of launching and operating a high-tech company, including risk analysis, business models, U.S. securities law, financial accounting, tax issues, and stock options, explained accessibly.This book offers an accessible guide to the financial aspects of launching and operating a high-tech business in such areas as engineering, computing, and science. It explains a range of subjects—from risk analysis to stock incentive programs for founders and key employees—for students and aspiring entrepreneurs who have no prior training in finance or accounting.The book begins with the rigorous analysis any prospective entrepreneur should undertake before launching a business, covering risks associated with a new venture, the reasons startup companies fail, and the stages of financing. It goes on to discuss business models and their components, business plans, and exit planning; forms of business organization, and factors to consider in choosing one; equit

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Book SynopsisMartin Quinn is a full-time Lecturer in Accounting at Dublin City University, Dublin, Ireland. Previous to this he has eleven years experience in accounting and IT roles in the manufacturing sector. He is an Associate member of CIMA. He is also a registered PhD student at the University of Dundee aiming to complete his PhD in early 2009. He has contributed to two academic texts in the past two years: Drury, C. Management & Cost accounting, 7 edition 14 half page real world views McLaney & Atrill, Accounting, an introduction, 4 edition a series of key concepts for the MAL tool and a review of questions within MAL.Table of ContentsChapter 1 – Accounting fundamentals The nature, purpose and role of accounting Branches of accounting Accounting terms – assets, liabilities, income, expenditure etc Basic concepts – the business entity, underlying assumptions, accounting equation Users of accounting information and their needs – to include qualitative characteristics Chapter 2 – The business plan- Preparing a plan to present to a bank/financier Appreciation of costs and cost structures The concept of breakeven The basics of budgeting and planning Chapter 3 – Financing Sources of finance Financing options, costs, advantages/disadvantages Chapter 4 – Keeping the books Source documents and records Books of original entry Computerised entry Chapter 5 – Double entry accounting system Principles of the double-entry system Nominal and personal ledgers Control accounts – explanation and purpose The trial balance – preparation and purpose Chapter 6 – Income statement and Balance Sheet (sole trader) Preparation of basic income statement and balance sheet from trial balance Would introduce revenues, expenditures, accruals, depreciation, stock valuation Layout of the financial statements Chapter 7 – Accounts of limited companies Differences, additional requirements Chapter 8 – Cash Flow Statement Preparation of a cash flow statement Chapter 9 – Interpretation of financial statements Need to interpret accounts Usefulness and application of ratio analysis Main accounting ratios; relationships between ratios Chapter 10 – valuation of companies Book v market value Some simple valuation methods

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Book SynopsisThe successful first edition provided an introduction to the valuation and risk management of modern financial instruments, formulated in a precise mathematical expression and comprehensively covering all relevant topics using consistent and exact notation.Trade ReviewReview of previous edition: 'Whether you are looking for a standard reference or a stand-alone learning guide, Derivatives and Internal Models deserves a place on your bookshelf.' - RiskTable of ContentsPART I: FUNDAMENTALS Introduction Legal Framework Fundamental Risk Factors of Financial Markets Financial Instruments Derivatives and Underlyings PART II: METHODS Overview of the Assumptions for Different Valuation Methods Arbitrage The Black-Scholes Differential Equation Integral Forms and Analytic Solutions in the Black-Scholes World Numerical Solutions of Differential Equations using Finite Differences Binomial and Trinomial Trees Monte-Carlo Simulations Hedging Martingale and Numeraire Interest rates and Term Structure Models PART III: INSTRUMENTS Spot Transactions on Interest Instruments Forward Rate Transactions Plain Vanilla Options Exotic Options Structured Products and Stripping PART IV: RISK Fundamentals The Variance-Covariance Method Simulation Methods Interest Rate Risk and Cash Flows Example VaR-Computation Backtesting: Checking the Applied Methods Organizational Implementation of Risk Management PART V: MARKET DATA Term Structure Volatilities Time Series Analysis Probability and Statistics

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Book SynopsisTable of Contents1. Accounting and the Financial Statements. 2. The Accounting Information System. 3. Accrual Accounting. Making the Connection, Integrative Exercise: The Accounting Cycle. 4. Internal Control and Cash. 5. Sales and Receivables. 6. Cost of Goods Sold and Inventory. 7. Operating Assets. Making the Connection, Integrative Exercise: Integrated Asset Accounting. 8. Current and Contingent Liabilities. 9. Long-Term Liabilities. 10. Stockholders' Equity. Making the Connection, Integrative Exercise: Integrating Accounting for Liabilities and Equity. 11. The Statement of Cash Flows. 12. Financial Statements Analysis. Appendix 1: International Financial Reporting Standards. Appendix 2: Investments. Appendix 3: Time Value of Money. Appendix 4: Financial Statement Information: Under Armour. Appendix 5: Financial Statement Information: Columbia Sportswear. Glossary. Check Figures. Index.

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Book SynopsisBusinesses and the accounting profession have never been under such close ethical scrutiny because of the ethics scandals that have prevented organizations and people from reaching their objectives. Understanding why ethical behavior is so important to success and knowing potential pitfalls are key to your own success. Business & Professional Ethics for Directors, Executives & Accountants, 9e demonstrates that it's not just about learning rules. You must learn how to use ethical strategies, make ethical decisions, and integrate the latest information on ethics and governance scandals, legal liability and professional accounting and auditing issues. You must understand why developing an ethical corporate culture is essential to maintaining stakeholder support, and for auditors to audit financial statements. To keep learning interesting and underscore the importance of ethical issues, this edition provides more than 130 cases, including classic frauds, bankruptcies, loss of reputation, and unprofessional practices. Cases provide excellent opportunities for role playing and for developing your understanding of soft skills, including communications, persuasion, presentation, leadership and a global mindset.Table of ContentsCHAPTER 1 ETHICS EXPECTATIONS The Ethics Environment for Business: The Battle for Credibility, Reputation & Competitive Advantage New Expectations for Business Responses & Developments The Ethics Environment for Professional Accountants Managing Ethics Risks & Opportunities Questions Reading Insights References Case Insights ETHICS CASES involving (number of cases): Improper Behavior (5) Advertising & Sales promotion (4) Financial Transactions (2) Control of Information (2) Concerning the Environment (3) Product Safety (5) Accounting & Auditing (2) CHAPTER 2 ETHICS & GOVERNANCE SCANDALS Ethics & Governance: A Timeline of Important Events Ethics & Governance: The Early Developments Prior to 1970 Ethics & Governance: 1970���1990 Ethics & Governance: The Modern Era���1990 to the Present Significant Ethics & Governance Scandals & Events Signs of Ethical Collapse Ethics & Governance: Trends Ethics & Governance: Timetables of Important Events, 1929���2019 New sections: Unethical Bank Cultures Produce Scandals #MeToo Movement Reaches a Tipping Point Harmful Products Draw Huge Settlements and Change Perspectives Accounting Crises lead to Re-imagination of Professional Accountant���s Role U.S. Business Roundtable Statement Signals Acceptance of Stakeholder Interests Useful Video & Films Questions References Case Insights ETHICS CASES: Enron, Arthur Andersen, Worldcom LIBOR Manipulations, Deutsche Bank���s Cultural Disaster Bernie Madoff Scandal Wal-Mart Bribery, GM Ignition Faults, VW Cheats on Emissions Tests General Motors installed faulty ignition switches Takata air bags explode injuring passengers with metal shrapnel Volkswagen software defeats environmental exhaust emissions testing Valeant Pharmaceuticals and Turing Pharmaceuticals bought drugs and jumped prices CHAPTER 3 ETHICAL BEHAVIOR���PHILOSOPHERS��� CONTRIBUTIONS 127 Ethics & Moral Codes Ethics & Business Self-Interest & Economics Ethics, Business & The Law Major Ethical Theories Useful in Resolving Ethical Dilemmas Moral Imagination Questions Case Insights Useful Video & Film References ETHICS CASES about improper behavior (7) John DeLorean���s Overcommitment to His Company Google���s Tax Minimization Strategy: Utilitarian Consequences New York Times Dual Class Share Structure: Distributive Injustice? Ben and Jerry���s Application of the Rawlsian Difference Principle Merck and River Blindness: Justice as Fairness Beach-Nut Nutrition Corporation and Blind Corporate Loyalty Johnson & Johnson���s Worldwide Recall of Tylenol: Virtue Ethics CHAPTER 4 PRACTICAL ETHICAL DECISION MAKING Introduction Motivating Developments for Ethical Learning Ethical Decision Making Framework (EDM)���An Overview Philosophical Approaches���An Overview: Consequentialism (Utilitarianism), Deontology, & Virtue Ethics Sniff Tests & Common Heuristics���Preliminary Tests of Ethicality Stakeholder Impact Analysis���Comprehensive Tool for Assessing Decisions & Actions Stakeholder Impact Analysis: Modified Traditional Decision-Making Approaches Integrating Philosophical & Stakeholder Impact Analysis Approaches Other Ethics Decision-Making Issues A Comprehensive Ethical Decision-Making Framework Conclusion Questions References Illustrative Applications & Case Insights ILLUSTRATIVE APPLICATIONS (4) ETHICS CASES About: Harm to individuals (4) Harm to the environment (1) Governance decisions (3) CHAPTER 5 CORPORATE ETHICAL GOVERNANCE & ACCOUNTABILITY Modern Governance & Accountability Framework���To Shareholders & Other Stakeholders New Expectations���New Framework to Restore Credibility Corporate Governance Overview Accountability to Shareholders or Stakeholders? The Shareholder Value Myth Governance for Broad Stakeholder Accountability Guidance Mechanisms���Ethical Culture & Code of Conduct Threats to Good Governance & Accountability Misunderstanding Objectives & Fiduciary Duty Failure to Identify & Manage Ethics Risks Conflicts of Interest Key Elements of Corporate Governance & Accountability Compelling Evidence for the Development of an Ethical Corporate Culture Developing, Implementing, & Managing an Ethical Corporate Culture Corporate Codes of Conduct Ethical Leadership Corporate Psychopaths Director & Officer Liability Public Accountability Benchmarks Conclusion���Toward a Culture of Integrity Questions Case Insights Reading Insights References ETHICS CASES on: Ethical Corporate Culture (4) Ethical Leadership (3) Bribery (4) Corporate Governance & Managerial Opportunism (5) Fraudulent & Questionable Financial Reporting (7) Stock Market (7) Product Safety (2) APPENDIX A: Alternative Governance Theories Sears Compensation Plan Backfires Wells Fargo Suffers from an Unethical Culture Johnson & Johnson Credo Spying Scandal at Credit Suisse: Ethical Leadership? CHAPTER 6 PROFESSIONAL ACCOUNTING IN THE PUBLIC INTEREST Purpose of the Chapter Professional Accounting���s Traditional Role Historic Shortfalls in Meeting Professional Expectations Professional Accounting and the Public Interest Implications for Services Offered Judgment & Values Sources of Ethical Guidance Professional Codes of Conduct Conceptual Framework for Assessing Threats to Compliance Conflicts of Interest: Threats to Independence Assessment using the Conceptual Framework Approach A Stakeholder Impact Analysis Affecting Services Offered Involving Improper Use of Influence Involving Use or Misuse of Information (Confidentiality) Questionable Tax Services & Practices Laws & Jurisprudence Moral Courage Is Vital to Professional Accounting: Globalization Heightens the Requirement When Codes & Laws Don���t Help Broadening Role for Professional Accountants Conclusion Questions Reading Insights Case Insights References ETHICS CASES: Famous events and scandals (5) Professional & Fiduciary Duty (13) Accounting & Auditing Dilemmas (11) Fundamental Accounting & Auditing Issues Cases (3) Tax & Regulatory Cases (7) Transfer Pricing by Apple The Business Reality Test for Transfer Pricing Tax Inversions: Deal or No Deal CHAPTER 7 MANAGING ETHICS RISKS & OPPORTUNITIES Ethics Risks & Opportunities: Identification & Assessment Management & Mitigation Stakeholder Accountability Key Ethics Risk Issues & Tools; Workplace Ethics New Section: Freedom from Sexual Harassment (#MeToo Movement) Whistleblower Programs & Ethics Inquiry Services Fraud & White Collar Crime New Section on Forensic Accounting Bribery & International Operations New Section on Money Laundering Crisis Management Conclusion Questions Case Insights Reading Insights References ETHICS CASES about: CSR Cases���Environmental Issues (3) Workplace Ethics Cases Discrimination & Abuse (6) Spying (2) White Collar Crime (3) Bribery & International Operations Cases (10) Risk & Crisis Management Cases (7) APPENDIX A: Ethics Audit Program Annual Audit Questions Bribery by Lockheed Corporation Spawns the U.S. FCPA Niko Resources ��� Canada���s First Significant Bribery Prosecution Daimlerchrysler Subject to Bribery U.S. Laws CHAPTER 8 SUBPRIME LENDING FIASCO���ETHICS ISSUES The Economic Train Wreck���A Global Disaster Stages of the Subprime Lending Fiasco How Did the Subprime Lending Crisis Happen? Ethics Issues���The Subprime Lending Fiasco Ethics Lessons Questions Case Insights Useful Videos & Films References ETHICS CASES about: Questionable ethical values (1) Conflicts of interest (4) Accounting manipulation (2) Morale courage (1) A Subprime Mortgage-Backed Security Gone Awry Investment Bankers in the Movies How Much Were the Investment Bankers Paid during the Crisis?

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Book SynopsisDiscover the importance of financial accounting in creating a successful business and prosperous society with Warren/Jones' CORPORATE FINANCIAL ACCOUNTING, 16E. This best-selling book clearly presents core financial accounting concepts within a meaningful business context, using engaging learning features that ensure a relevant, innovative learning experience. The authors demonstrate how accounting is more than just data or black-and-white rules. Updated content addresses the latest development and tools in corporate accounting today -- from using data analytics effectively to understanding the impact of discounts and sales in retail accounting. CNOWv2 online resources work with practice opportunities to ensure you understand and can apply key accounting principles. Prepare for immediate success on exams and advancements in your business career as you learn how to apply the key information that accounting provides to make critical business decisions.Table of Contents1. Introduction to Accounting and Business. 2. Analyzing Transactions. 3. The Adjusting Process. 4. The Accounting Cycle. Appendix 1: Preparing the End-of-Period Spreadsheet. Appendix 2: Statement of Cash Flows ��� NetSolutions. 5. Accounting for Retail Businesses. Appendix 1: Sales Discounts. Appendix 2: Periodic Inventory System. 6. Inventories. Appendix: Estimating Inventory Cost. 7. Internal Control and Cash. 8. Receivables. 9. Long-term Operating Assets: Fixed and Intangible. 10. Liabilities: Current, Installment Notes, and Contingencies. 11. Liabilities: Bonds Payable. Appendix 1: Present Value Concepts for Pricing Bonds. Appendix 2: Effective Interest Rate Method of Amortization. 12. Corporations: Organization, Stock Transactions, and Dividends. 13. Statement of Cash Flows. 14. Financial Statement Analysis. Appendix: Spreadsheet for Statement of Cash Flows: Indirect Method. Appendix A: Present Value Tables. Appendix B: Selected Topics. Topic 1: Investments. Topic 2: Foreign Currency Transactions. Topic 3: Corporate Taxes. Topic 4: Reporting Unusual Items and Comprehensive Income. Topic 5: Revenue Recognition. Topic 6: International Accounting Standards. Appendix C: Nike Inc Annual Report (10-K). Appendix D: Reversing Entries (online). Appendix E: Special Journals and Subsidiary Ledgers (online). Appendix F: Spreadsheet for Statement of Cash Flows: Direct Method (online). Glossary. Index.

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Book SynopsisEstablish a strong foundation in accounting fundamentals that will help you succeed in your career and business with Warren/Jones/Tayler's FINANCIAL AND MANAGERIAL ACCOUNTING, 16E. The latest business illustrations and current examples provide a meaningful context that demonstrates how each chapter's content fits into the "big picture." The authors clearly connect fundamental accounting concepts to real businesses today. Each chapter begins with a real company opener that is referenced throughout the chapter. New examples and cases in each chapter highlight how to use and apply data analytics. These cases use data sets related to the chapter content while showing you how to analyze and develop reports using Excel and Tableau. In addition, updated Certified Management Accountant (CMA) exam questions prepare you for professional success. Pathways Challenges also help you hone critical-thinking skills. CNOWv2 online resources are also available to reinforce understanding.Table of Contents1. Introduction to Accounting and Business. 2. Analyzing Transactions. 3. The Adjusting Process. 4. The Accounting Cycle. 5. Accounting for Retail Businesses. 6. Inventories. 7. Internal Control and Cash. 8. Receivables. 9. Long-Term Assets: Fixed and Intangible. 10. Liabilities: Current, Installment Notes, and Contingencies. 11. Liabilities: Bonds Payable. 12. Corporations: Organization, Stock Transactions, and Dividends. 13. Statement of Cash Flows. 14. Financial Statement Analysis. 15. Introduction to Managerial Accounting. 16. Job Order Costing. 17. Process Costing. 18. Activity-Based Costing. 19. Support Department and Joint Cost Allocation. 20. Cost-Volume-Profit Analysis. 21. Variable Costing for Management Analysis. 22. Budgeting. 23. Evaluating Variances from Standard Costs. 24. Evaluating Decentralized Operations. 25. Differential Analysis and Product Pricing. 26. Capital Investment Analysis. 27. Lean Manufacturing and Activity Analysis. 28. The Balanced Scorecard and Corporate Social Responsibility. Appendix A: Interest Tables. Appendix B: Selected Topics. Appendix C: Nike Inc., Form 10-K for the Fiscal Year Ended May 31, 2020 Selected Excerpts. Appendix D: Reversing Entries (Online). Appendix E: Special Journals and Subsidiary Ledgers (Online). Glossary. Index.

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Book SynopsisPrepare for success in today's rapidly changing audit environment as you develop professional and ethical decision-making skills with Zehms/Gramling/Rittenberg's AUDITING: A RISK BASED-APPROACH, 12E. This edition integrates the latest in standards, including new guidance on audit reports, fraud risks and audit evidence. Unique conceptual frameworks help you strengthen ethical decision-making skills and professional skepticism. A new framework also guides you through using data analytics in auditing with simulation cases that use real-life data sets. Revised, reader-friendly content offers interesting learning features that highlight key points and provide hands-on opportunities to refine critical-thinking skills. New and revised end-of-chapter cases and problems further strengthen your writing skills for the CPA exam. In addition, MindTap digital resources are available with an interactive ebook and engaging cases to reinforce your data-driven decision-making skills.Table of Contents1. Quality Auditing: Why It Matters. 2. The Auditor���s Responsibilities Regarding Fraud and Mechanisms to Address Fraud: Regulation and Corporate Governance. 3. Internal Control Over Financial Reporting: Responsibilities of Management and the External Auditor. 4. Professional Legal Liability. 5. Professional Auditing Standards and the Audit Opinion Formulation Process. 6. Audit Evidence. 7. Planning the Audit: Identifying and Responding to the Risks of Material Misstatement. 8. Specialized Audit Tools: Sampling and Generalized Audit Software. 9. Auditing the Revenue Cycle. 10. Auditing Cash and Marketable Securities. 11. Auditing Inventory, Goods and Services, and Accounts Payable: The Acquisition and Payment Cycle. 12. Auditing Long-Lived Assets: Acquisition, Use, Impairment, and Disposal. 13. Auditing Long-Term Liabilities and Stockholders' Equity Transactions. 14. Completing a Quality Audit. 15. Audit Reports. ACL Appendix. Case Index. Why It Matters and Fraud Focus Index by Chapter. Data Analytics cases by Chapter. Index.

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Book SynopsisMaster QuickBooks Online Accountant (QBOA) at your own pace with the unique self-directed learning approach in Owen's QUICKBOOKS ONLINE FOR ACCOUNTING, 6E. This edition focuses exclusively on QBOA, allowing you to refine skills while reviewing your understanding of financial accounting, reporting and analysis tools. You learn how accounting information is created and used to make key decisions. Updates introduce the latest features of QBOA, including the ability to create more than one company. New instructions provide even more convenient access to your work through a student portal. Easy-to-follow instructions, real examples and manageable assignments reinforce accounting skills as you practice using the QBOA application. You learn how to set up QBOA to record business events; generate financial statements and reports; and communicate critical information to business owners, investors and creditors. Strengthen skills you will use for business success, no matter what your future plansTable of Contents1. An Introduction to QuickBooks Online Using the Sample Company. 2. An Overview of QuickBooks Online Using a Case Assigned by your Instructor. 3. Setting Up a New Company: Establishing a Chart of Accounts, Beginning Balances, Customers, Vendors, and Products/Services. 4. Recording Operating Activities: Sales and Cash Receipts. 5. Recording Operating Activities: Purchases and Cash Payments. 6. Recording Investing and Financing Activities. 7. Recording Payroll. 8. Establishing Budgets and Preparing Bank Reconciliations. 9. Analysis and Recording of Adjusting Entries. 10. Preparing Financial Statements and Reports.

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Book SynopsisTable of Contents1. Introduction to Accounting and Business. 2. Analyzing Transactions. 3. The Adjusting Process. 4. The Accounting Cycle. 5. Accounting for Retail Businesses. 6. Inventories. 7. Internal Controls and Cash. 8. Receivables. 9. Long-Term Assets: Fixed and Intangible. 10. Liabilities: Current Liabilities, Installment Notes, and Contingencies. 11. Liabilities: Bonds Payable. 12. Partnerships and Limited Liability Companies. 13. Corporations: Organization, Stock Transactions, and Dividends. 14. Statement of Cash Flows. 15. Financial Statement Analysis. Appendix A: Present Value Tables. Appendix B: Selected Topics. Appendix C: Nike Inc. Annual Report (10-K). Glossary. Index. Online Appendices.

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Book SynopsisMaster QuickBooks Online Accountant (QBOA) at your own pace with the unique self-directed learning approach in Owen's QUICKBOOKS ONLINE FOR ACCOUNTING, 7th EDITION. This edition focuses exclusively on QBOA, allowing you to refine skills while reviewing your understanding of financial accounting, reporting and analysis tools. You will learn how accounting information is created and used to make key decisions. Updates introduce the latest features of QBOA, including the ability to create more than one company. New instructions provide more convenient access to your work through a student portal. Clear instructions, real examples and manageable assignments reinforce accounting skills as you practice using the QBOA application. You will learn how to set up QBOA to record business events, generate financial statements, and communicate critical information to business owners, investors and creditors. Strengthen skills you will use for business success with this valuable resource.Table of Contents1. An Introduction to QuickBooks Online Using the Sample Company. 2. An Overview of QuickBooks Online Using a Case Assigned by Your Instructor. 3. Setting Up a New Company: Establishing a Chart of Accounts, Beginning Balances, Customers, Vendors, and Products/Services. 4. Recording Operating Activities: Sales and Cash Receipts. 5. Recording Operating Activities: Purchases and Cash Payments. 6. Recording Investing and Financing Activities. 7. Recording Payroll. 8. Establishing Budgets and Preparing Bank Reconciliations. 9. Analysis and Recording of Adjusting Entries. 10. Preparing Financial Statements and Reports.

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Book SynopsisPublished in 1963, this book about the famous accountant and bookkeeper Luca Paciolo explores his extraordinary contribution to the development of the accounting profession. Paciolo is the first known writer to publish a work describing the double entry process. Table of Contents1. The Painting of Paciolo (i) Paciolo: The Man, His Work (ii) The Translation of the Bookkeeping Treatise (iii) The Original Treatise Reproduced

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Book SynopsisUnderlying this book, first published in 1988, is the belief that it is insightful to examine accounting not as merely a technical process, nor as a technical process with social and political consequences, but as an activity which is both social and political in itself. One way of illuminating the social nature of accounting is through studying its cultural variations, for although accounting is a feature of modern industrial society the extent of its use varies across cultures. This book examines the history of accounting and explores the complicated relationship between accounting and society. Table of Contents1. Introduction 2. Understanding Cost and Management Accounting in its Social and Historical Context 3. Historical Introduction 4. The First World War 5. After the War: Reconstruction and Reality 6. The Institute of Cost and Works Accountants 7. Cost Accounting and Society 8. Conclusion

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Book SynopsisFor years accounting ethics has been viewed as an unimportant adjunct of academic and professional accounting. However, the economic scandals of the early twenty-first century have dramatically nullified this characterisation, with the ruination of investors in Enron, WorldCom, Waste Management, Aldelphia, Tyco and scores of other business concerns raising questions about the adequacy and relevance of academic research into accounting ethics, as well as the ethical nature of professional parties.Presenting important papers that reassess these theories, research studies and professional practices in the field of accounting ethics, this collection scrutinizes the body of knowledge that did not protect the investing public, and examines the current crisis in the creditability of financial reports.

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Book SynopsisMathematical techniques for trading and risk management. Managing Energy Risk closes the gap between modern techniques from financial mathematics and the practical implementation for trading and risk management. It takes a multi-commodity approach that covers the mutual influences of the markets for fuels, emission certificates, and power.Table of ContentsForeword. Preface. 1 Energy Markets. 1.1 The oil market. 1.1.1 Consumption, production and reserves. 1.1.2 Crude oil trading. 1.1.3 Refined oil products. 1.2 The natural gas market. 1.2.1 Consumption, production and reserves. 1.2.2 Natural gas trading. 1.2.3 Price formulas with oil indexation. 1.2.4 Liquefied natural gas. 1.3 The coal market. 1.3.1 Consumption, production and reserves. 1.3.2 Coal trading. 1.3.3 Freight. 1.3.4 Coal subsidies in Germany: BAFA-indexed prices. 1.4 The electricity market. 1.4.1 Consumption and production. 1.4.2 Electricity trading. 1.4.3 Products in the electricity markets. 1.4.4 Energy exchanges. 1.5 The emissions market. 1.5.1 Kyoto Protocol. 1.5.2 EU emissions trading scheme. 1.5.3 Flexible mechanisms. 1.5.4 Products and market places. 1.5.5 Emissions trading in North America. 2 Energy Derivatives. 2.1 Forwards, futures and swaps. 2.1.1 Forward contracts. 2.1.2 Futures contracts. 2.1.3 Swaps. 2.2 “Plain vanilla” options. 2.2.1 The put–call parity and option strategies. 2.2.2 Black’s futures price model. 2.2.3 Option pricing formulas. 2.2.4 Hedging options: the “Greeks”. 2.2.5 Implied volatilities and the “volatility smile”. 2.2.6 Swaptions. 2.3 American and Asian options. 2.3.1 American options. 2.3.2 Asian options. 2.4 Commodity bonds and loans. 2.5 Multi-underlying options. 2.5.1 Basket options. 2.5.2 Spread options. 2.5.3 Quanto and composite options. 2.6 Spot price options. 2.6.1 Pricing spot price options. 2.6.2 Caps and floors. 2.6.3 Swing options. 2.6.4 Virtual storage. 3 Commodity Price Models. 3.1 Forward curves and the market price of risk. 3.1.1 Investment assets. 3.1.2 Consumption assets and convenience yield. 3.1.3 Contango, backwardation and seasonality. 3.1.4 The market price of risk. 3.1.5 Derivatives pricing and the risk-neutral measure. 3.2 Commodity spot price models. 3.2.1 Geometric Brownian motion. 3.2.2 The one-factor Schwartz model. 3.2.3 The Schwartz–Smith model. 3.3 Stochastic forward curve models. 3.3.1 One-factor forward curve models. 3.3.2 A two-factor forward curve model. 3.3.3 A multi-factor exponential model. 3.4 Electricity price models. 3.4.1 The hourly forward curve. 3.4.2 The SMaPS model. 3.4.3 Regime-switching model. 3.5 Multi-commodity models. 3.5.1 Regression analysis. 3.5.2 Correlation analysis. 3.5.3 Cointegration. 3.5.4 Model building. 4 Fundamental Market Models. 4.1 Fundamental price drivers in electricity markets. 4.1.1 Demand side. 4.1.2 Supply side. 4.1.3 Interconnections. 4.2 Economic power plant dispatch. 4.2.1 Thermal power plants. 4.2.2 Hydro power plants. 4.2.3 Optimisation methods. 4.3 Methodological approaches. 4.3.1 Merit order curve. 4.3.2 Optimisation models. 4.3.3 System dynamics. 4.3.4 Game theory. 4.4 Relevant system information for electricity market modelling. 4.4.1 Demand side. 4.4.2 Supply side. 4.4.3 Transmission system. 4.4.4 Historical data for backtesting. 4.4.5 Information sources. 4.5 Application of electricity market models. 4.6 Gas market models. 4.6.1 Demand side. 4.6.2 Supply side. 4.6.3 Transport. 4.6.4 Storage. 4.6.5 Portfolio optimisation. 4.6.6 Formulation of the market model. 4.6.7 Application of gas market models. 4.7 Market models for oil, coal, and CO2 markets. 5 Electricity Retail Products. 5.1 Interaction of wholesale and retail markets. 5.2 Retail products. 5.2.1 Common full service contracts. 5.2.2 Indexed contracts. 5.2.3 Partial delivery contracts. 5.2.4 Portfolio management. 5.2.5 Supplementary products. 5.3 Sourcing. 5.3.1 Business-to-business (B2B). 5.3.2 Business-to-consumer (B2C). 5.3.3 Small accounts. 5.3.4 Municipalities and reseller. 5.4 Load forecasting. 5.5 Risk premium. 5.5.1 Price validity period. 5.5.2 Balancing power. 5.5.3 Credit risk. 5.5.4 Price–volume correlation. 5.5.5 Strict risk premiums. 5.5.6 Hourly price profile risk. 5.5.7 Volume risk. 5.5.8 Operational risk. 5.5.9 Risk premium summary. 6 Risk Management. 6.1 Market price exposure. 6.1.1 Delta position. 6.1.2 Variance minimising hedging. 6.2 Value-at-Risk and further risk measures. 6.2.1 Definition of Value-at-Risk. 6.2.2 Parameters of the Value-at-Risk measure. 6.2.3 Computation methods. 6.2.4 Liquidity-adjusted Value-at-Risk. 6.2.5 Estimating volatilities and correlations. 6.2.6 Backtesting. 6.2.7 Further risk measures. 6.3 Credit risk. 6.3.1 Legal risk. 6.3.2 Quantifying credit risk. 6.3.3 Credit rating. Appendices. A Mathematical background. A.1 Econometric methods. A.1.1 Linear regression. A.1.2 Stationary time series and unit root tests. A.1.3 Principal component analysis. A.1.4 Kalman filtering method. A.1.5 Regime-switching models. A.2 Stochastic processes. A.2.1 Conditional expectation and martingales. A.2.2 Brownian motion. A.2.3 Stochastic integration and Itô’s lemma. A.2.4 The Feynman–Kac theorem. A.2.5 Monte Carlo simulation. Bibliography. Index.

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Book SynopsisWritten in an approachable style with short sections, visual icons and navigation aids, numerous bulleted lists and summary tables, and the use of graphical representations where appropriate to illustrate the text.Table of ContentsPreface ix 1 INTRODUCTION 1 The Big Paradox 1 What Is Financial Management? 2 First Stop: Financial Accounting 2 Why Construction Accounting Is Different from Accounting in Other Business Sectors 4 Who Is at Risk? 5 Projects: The Output of the Construction Process 6 Project-Level Controls 7 Time Value of Money 8 Entrepreneurial Issues 8 Review Questions and Exercises 9 2 UNDERSTANDING FINANCIAL STATEMENTS 11 Introduction 11 Why Should You Care about Accounting? 12 Generally Accepted Accounting Principles 12 Cash and Accrual Bases: Two Ways to Look at Accounting 13 Cash Basis of Accounting 14 Accrual Basis of Accounting 15 Accounts 16 Account Hierarchy 16 Financial Reports 17 Bookkeeping 19 The Balance Sheet 20 Balance Sheet Layout 21 Balance Sheet Account Categories in Detail 21 The Fundamental Accounting Equation 22 Asset Values 23 The Fundamental Equation and Owners’ Risk 24 Balance Sheet for Fudd Associates, Inc. 24 Key Accounts 26 The Income Statement 29 Components of an Income Statement – More Details 32 The Statement of Cash Flows 35 Contract Backlog 37 Public Corporations 38 Review Questions and Exercises 39 3 ANALYZING COMPANY FINANCIAL DATA 43 Introduction 43 Vertical and Horizontal Analyses 44 Vertical Analysis: Financial Ratios 44 Liquidity Indicators: Can This Company Get Cash in a Hurry? 45 Current Ratio 45 Quick Ratio 46 Working Capital 47 Profitability Indicators: Is This Company Making Enough Profit? 48 Return on Equity 48 Return on Revenue 50 Return on Assets 51 Earnings Per Share 51 Efficiency Indicators: How Long Does It Take a Company to Turn over Its Money? 52 Average Age of Inventory 53 Average Age of Accounts Receivable (Collection Period) 55 Average Age of Accounts Payable 56 Other Average Ages 57 Operating Cycle 57 Turnover Ratios 58 Revenue to Assets Turnover 58 Capital Structure Indicators: How Committed Are the Owners? 59 Debt to Equity 60 Assets to Equity (Leverage) 60 Other Indicators 60 Horizontal Analysis: Tracking Financial Trends 62 Time Series Graphs 62 Index-Number Trend Series 63 Conclusion 63 Review Questions and Exercises 64 4 ACCOUNTING BASICS 71 Introduction 71 Transaction Processing 71 Journalizing the Transaction 73 A Transaction to Enter Initializing Capital 74 A Vendor Billing Transaction 74 A Billing to the Client 76 Posting Entries to the Ledger 78 Relationship of Work-in-Progress and Revenue/Expense Accounts 80 Closing the Accounting Cycle 82 Recognition of Income 83 Percentage-of-Completion Method of Income Recognition 83 Completed-Contract Method of Income Recognition 85 Transactions during a Period 86 Posting to the General Ledger during the Accounting Period 88 Closing Actions at the End of the Period 91 Review Questions and Exercises 93 5 PROJECT-LEVEL COST CONTROL 97 Objectives of Project-Level Cost Control in Construction 97 Unique Aspects of Construction Cost Control 98 Types of Costs 99 The Construction Estimate 99 Cost Control System 101 Building a Cost Control System 101 Cost Accounts 103 Cost Account Structure 104 Project Cost Code Structure 106 Cost Accounts for Integrated Project Management 110 Earned Value Analysis 113 Labor Data Cost Collection 122 Review Questions and Exercises 125 6 FORECASTING FINANCIAL NEEDS 129 Importance of Cash Management 129 Understanding Cash Flow 129 Retainage 131 Project Cost, Value, and Cash Profiles 131 Cash Flow Calculation—A Simple Example 133 Peak Financial Requirements 136 Getting Help from the Owner 137 Optimizing Cash Flow 138 Project Cash Flow Estimates 141 Using Software for Cash Flow Computations 144 Company-Level Cash Flow Planning 145 Strategic Cash Flow Management: “Cash Farming” 145 Project and General Overhead 146 Fixed Overhead 148 Considerations in Establishing Fixed Overhead 149 Breakeven Analysis 151 Basic Relationships Governing the Breakeven Point 154 Review Questions and Exercises 155 7 TIME VALUE OF MONEY AND EVALUATING INVESTMENTS 161 Introduction 161 Time Value of Money 162 Interest 162 Simple and Compound Interest 163 Nominal and Effective Rate 165 Equivalence and MARR 166 Discount Rate 167 Importance of Equivalence 167 Inflation 168 Sunk Costs 169 Cash Flow Diagrams 169 Annuities 171 Conditions for Annuity Calculations 173 Calculating the Future Value of a Series of Payments 174 Summary of Equivalence Formulas 175 Worth Analysis Techniques: An Overview 176 Present Worth Analysis 179 Investments with Different Life Spans 180 Equivalent Annual Worth (EAW) 181 Internal Rate of Return 183 Limitations of the IRR Method 185 An Example Involving Cost Recovery 186 Comparison Using EAW 188 An IRR Example—Owner Financing Using Bonds 191 Review Questions and Exercises 194 8 CONSTRUCTION LOANS AND CREDIT 199 Introduction 199 The Construction Financing Process 200 A Sample Developmental Project 202 The Amount of the Loan 204 How Is the Cap Rate Determined? 205 Mortgage Loan Commitment 206 Construction Loan 206 Commercial Lenders 208 Lines of Credit 209 Interest Paid on Outstanding Balance 210 Commitment Fees 211 Compensating Balances 211 Clean-Up Requirement 212 Collaterals 212 Accounts Receivable Financing 213 Trade Credits 213 Long Term Financing 215 Loans with End-of-Term Balloon Payments 216 Review Questions and Exercises 218 9 THE IMPACT OF TAXES 219 Introduction 219 Types of Taxes 220 Income Tax Systems 221 Alternatives for Company Legal Organization 221 Sole Proprietorships 222 Partnerships 222 Corporations 222 Limited Liability Partnerships and Companies 223 Other Options 224 Taxation of Business 224 Business Deductions in General 227 Taxable Income: Individuals 227 Itemized Deductions, Standard Deductions, and Personal Exemptions 228 The Tax Significance of Depreciation 229 Calculating Depreciation 230 Straight Line Method 231 The Production Method 232 Depreciation Based on Current Law 233 Marginal Tax Rates 235 Tax Credits 238 Tax Payroll Withholding 239 Tax Payment Schedules 239 Marginal, Average, and Effective Tax Rates 239 Net Operating Losses 240 Taxes on Dividends and Long-Term Capital Gains 242 Alternative Minimum Tax 242 Summary 243 Review Questions and Exercises 243 APPENDIX A TYPICAL CHART OF ACCOUNTS 247 APPENDIX B FURTHER ILLUSTRATIONS OF TRANSACTIONS 251 APPENDIX C COMPOUND INTEREST TABLES 275 References 301 Index 305

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Book SynopsisThe most comprehensive and authoritative review of B-School fundamentals--from top accounting and finance professors For years, the Portable MBA series has tracked the core curricula of leading business schools to teach you the fundamentals you need to know about business-without the extreme costs of earning an MBA degree.Table of ContentsList of Downloadable Materials. Syllabus: How Chapter Topics in This Book Track the Core MBA Curriculum. Preface. Acknowledgments. About the Contributors. PART I FINANCIAL ACCOUNTING. 1 Understanding Financial Statements (Les Livingstone). 2 Analyzing Financial Statements (Les Livingstone). 3 Analyzing Business Earnings (Virginia Earll Soybel). PART II FINANCIAL MANAGEMENT. 4 Discounted Cash Flow (James A. Elfter). 5 Capital Structure (Craig A. Stephenson). 6 Planning Capital Expenditure (Steven P. Feinstein). 7 Global Finance (Michael J. Riley). PART III BUSINESS ENTITIES. 8 Choosing a Business Form (Richard P. Mandel). 9 Taxes and Business Decisions (Richard P. Mandel). 10 The Integrity of Financial Reporting (Les Livingstone). PART IV MANAGEMENT ACCOUNTING. 11 Forecasts and Budgeting (Robert F. Halsey). 12 Cost Structure Analysis, Profit Planning, and Value Creation (William C. Lawler). 13 Activity-Based Costing (William C. Lawler). PART V PLANNING AND STRATEGY. 14 Business Planning (Andrew Zacharakis). 15 Financial Management of Risks (Steven P. Feinstein). 16 Business Valuation (Michael A. Crain). 17 Profitable Growth by Acquisition (Richard T. Bliss). 18 Outsourcing (Theodore Grossman). PART VI ADVANCED TOPICS. 19 Information Technology and You (Dawna Travis Dewire). 20 Information Technology and the Firm (Dawna Travis Dewire). 21 Careers in Finance (Tracee Petrillo and Ralph J. Constantino). Glossary. Index.

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Book SynopsisThis practical book shows how to deal with the complicated area of accounting of financial instruments. Containing a huge number of sophisticated worked examples, the book treats this complex subject in a way which will give clear guidance on the subject.Table of ContentsPreface xi 1 Introduction 1 1.1 Introduction 1 1.2 Scope of the book 4 1.3 Background 6 1.4 Concerns over the misuse of financial instruments 8 1.5 Complexity 10 1.6 Revenue recognition 11 1.7 Inappropriate reward incentives 11 1.8 Protection for shareholders 15 1.9 Measuring the ‘traders’ dilemma’ 16 2 Accounting Foundations 21 2.1 Introduction 21 2.2 IASB improvements 22 2.3 The framework 23 2.4 Fair value or cost 24 2.5 Artificial volatility 26 2.6 Cost model 28 2.7 Cherry-picking 28 2.8 Subjective valuations 29 2.9 Proactive vs. reactive 29 2.10 Goodwill 29 2.11 Market value accounting 30 2.12 IFRS and its contribution to banking crises 31 2.13 IFRS post-Enron 32 2.14 Conclusion 41 3 Corporate Governance 43 3.1 Introduction 43 3.2 Corporate governance 44 3.3 Small vs. large shareholdings 45 3.4 Traders’ dilemma 46 3.5 Moral hazard 47 3.6 Credit rating agencies I 48 3.7 Shareholder democracy 49 3.8 Structured products 50 3.9 Revenue recognition 53 3.10 Non-consolidation 54 3.11 Credit rating agencies II 57 3.12 Accounting standards and lobbying 59 3.13 Investment entities 60 3.14 Conclusion 61 Appendix: Constant proportion debt obligations 62 4 Hedge Accounting 65 4.1 Introduction 65 4.2 Accounting for forward contracts 66 4.3 Accounting pre-IAS 39 67 4.4 Artificial volatility 68 4.5 Hedge accounting rules 69 4.6 Example: Forward rate agreement 74 4.7 Conclusion 76 5 Illustrative Examples: Hedge Accounting 77 5.1 Introduction 77 5.2 Illustration: Fair value hedge 78 5.3 Credit spreads 83 5.4 Cash flow interest rate swaps 91 5.5 Time value vs. change in interest rates 94 5.6 Long method fair value hedge 97 5.7 Foreign exchange hedge 100 Appendix: Documentation 114 6 Accounting for Structured Products (Market Risk) 117 6.1 Introduction 117 6.2 Risk adjusted return on capital 118 6.3 Bifurcation rules 120 6.4 The reward for risk 121 6.5 Protection for shareholders 121 6.6 Illustration: The structured products problem 122 6.7 The accounting treatment under embedded derivative rules 126 6.8 Past mistakes 127 6.9 Conclusion 128 Appendix 6.1: Overview of embedded derivative rules in international accounting reporting standards 129 Appendix 6.2: Introduction to derivatives 129 7 Accounting for Credit Risk 139 7.1 Introduction 139 7.2 Loan approvals 142 7.3 Credit spreads 144 7.4 Accounting standards 146 7.5 Credit rating agencies 147 7.6 Credit derivatives 148 7.7 Accounting for loans 151 7.8 Changes in the accounting standards 153 7.9 Accounting rules on credit derivatives and financial guarantees 156 7.10 Structured credit products: an extra layer of complexity 156 8 Accounting for Structured Products (Credit Risk) 159 8.1 Introduction 159 8.2 Securitisation overview 160 8.3 Regulatory arbitrage 162 8.4 Prepayment risk synthetic securitisations 162 8.5 Accounting for credit risk 164 8.6 Accountants, regulators and credit agencies 165 8.7 Complexity 168 8.8 Disclosure 169 8.9 Credit Suisse fiasco 169 8.10 Monoline insurance companies 171 8.11 Accounting implications 172 8.12 First to default 173 8.13 SFAS 157 valuations 174 8.14 Conclusion 174 9 Off-Balance Sheet Accounting 177 9.1 Introduction 177 9.2 Off-balance sheet manipulation 178 9.3 Case studies: off-balance sheet 180 9.4 Accounting implications 185 10 Reconciliation 199 10.1 Introduction 199 10.2 Middle office 201 10.3 Initial and variation margin 204 10.4 Example: Illustration of reconciliation 208 10.5 Conclusion 216 11 Moving Towards Mark-to-Market Accounting 217 11.1 Introduction 217 11.2 Liquidity and fair value 217 11.3 Banking vs. trading book 219 11.4 VaR 223 11.5 Basel 2 230 11.6 Accounting for VaR and IFRS 7 235 11.7 Conclusion 241 12 Accounting for Insurance 243 12.1 Introduction 243 12.2 Significance of insurance risk 244 12.3 IFRS vs. embedded value reporting 248 12.4 Finite insurance and unbundling 250 12.5 Other aspects of IFRS 4 252 12.6 Phase two embedded value 253 Appendix: The collapse of AIG 255 13 Conclusion 259 Glossary 265 Index 267

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Book SynopsisCan a brand qualify as an asset? Intangible assets are by their very nature difficult to value. This book shows how much confusion has existed over the classification of brands as assets and it has often been the case that purchased brands (brands with a firm value attached to them) have been included on balance sheets.Table of ContentsIntroduction PART ONE: ASSETS An alternative approach to the accounting definition of an asset The cognitive assumptions underpinning the accounting recognition of assets Transactions or events and the role of separability The impact of FRS10 on the accounting recognition of intangible assets PART TWO: BRANDS Breaking the link between brand assets and purchased goodwill The definition and accounting recognition of brand assets. PART THREE: THE POLITICS OF BRAND ASSETS The process of consultation, not consensus The process of consultation, not consensus continued.

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Book SynopsisUsing practical case studies and interviews with leading experts in the field, this book analyses the key elements in value creation. It provides practical guidance to organisations that will allow them to migrate into an economy that demands new business models.Trade Review"…this book aims at a paradigm change in management and names good reasons and arguments for it…" (Controller Magazin, May 2002) "…a comprehensive collection of material and a rich source for ideas around the topic of intangible assets management…" (is-report, September 2002) "…Daums suggestion…which unites the best concepts available in the market is brilliant and typical for times…" (Accounting, August 2002)Table of ContentsList of Interviews. Foreword. Foreward to the German edition. About the Author. Introduction. PART 1. NEW CORPORATE VALUES. Intangible Assets: The Foundation of a New Economy. New Corporate Success Factors. PART 2. THE NEW ENTERPRISE. Openness and Transparency as Success Factors. Value Creation through Structural Capital. PART 3. NEW MANAGEMENT. New Value Drivers Require a New Management Approach. Architecture and Elements of the New Management System. The New Performance Measurement and Accounting System. New Management Processes and Concepts for the New Management System. Implementing the New Management System - New Roles for Managers. PART 4. EPILOGUE. Intangible Assets and the Wealth of Nations. Bibliography. Index.

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Book SynopsisCalled "today's hottest financial idea and getting hotter" by fortune magazine, Economic Value Added (EVA) is the topic of conversation in financial circles around the world, from Germany and Japan to Singapore and South Africa.Table of ContentsThe EVA Revolution. Revving the Engine at Briggs & Stratton. The Right Way to Keep Score. How EVA Reshaped Armstrong World Industries and Boise Cascade. Earnings Per Share Don't Count-EVA Does. Serving the Service Industries. Making Managers into Owners. Banking on EVA. The EVA Financial Management System. Breaking the Regulatory Mould. Closing the GAAP between Earnings and EVA. SPX: Using EVA and Stretch Goals to Turn a Sputtering Jalopy into a Formula One Winner. Afterword: Becoming an EVA Company by G. Bennett Stewart III. Index.

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Book SynopsisA complete, compact guide to business valuation in divorce litigation The Handbook for Divorce Valuations is a comprehensive, practical handbook that covers every aspect of the CPA's role in divorce proceedings.Table of ContentsValuation Approaches and Applicability to Divorce Practice. Engagement Acceptance and Administration. The Engagement Process. Data Collection and Analysis. Industry Information--Where to Find It and How to UseIt. Are There Really Comparable Companies? Discounts and Premiums. Goodwill in a Divorce Context. Arriving at a Conclusion of Value. The Deposition. Preparing for the Trial. Direct Examination. Surviving Cross-Examination. Business Valuation Credentials, Organizations, and ProfessionalStandards. Marketing the Divorce Practice. Appendices. Index.

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