Finance and accounting Books

Book SynopsisInvestors and ratings agencies have been caught by surprise by the wave of recent bank failures and closures in Europe and Asia. This book addresses this issue by explaining why ratings exist, the history of ratings and the background of the ratings process.Trade Review"The book deals admirably with these problems, explaining thedebates involved and detailing ratings companies' excuses with theright level of cynicism." (Investment Adviser, 19th February2001) "...This is a comprehensive guide to ratings agencies."(Portfolio International, February 2001)Table of ContentsPreface. The World of Ratings. The Rating Agencies. Methodologies and Characteristics. Rating Agencies in the Economic Environment. Quis Custodiet Ipsos Custodes. The Future. Glossary. Sources. Index.

Read more less

Book SynopsisOver recent years the insurance industry has faced a period of rapid change and consolidation with recent disasters, both natural and manmade highlighting the problems the industry faces. Yet this has also been a time of opportunity, with the rise of securitization, the insurance industry has turned financial necessity into lucrative invention.Table of ContentsPreface. The Basics of Property-Casualty Insurance. Securitizing Insurance Risks. Life Insurance in the United States: History of a Crisis. ALM in Insurance: An Empirical Wander Around Europe. Life Insurance Pricing and the Measurement of the Duration of Liabilities. A Functional Approach to the Insurance Industry. Conclusion and Future Challenges. Appendix: The ALM Survival Toolkit. Index.

Read more less

Book SynopsisThis edition provides an introduction to investment techniques and financial theory and has been expanded to include discussion of derivatives, bonds and fixed interest, equity investment, as well as private client accounts. Topics include forecasting the economy and emerging markets.Table of ContentsPreface. Introduction. Portfolio Theory. The Capital Asset Pricing Model. Arbitrage Pricing Theory. Behavioural Finance. The Efficient Market. Introduction to Share and Sector Selection. Economic Fundamentals. Accounting Fundamentals. Dividend Discount and Price-Earnings Models. Earnings-Based Share Selection. Aspects of Value versus Growth. Value, Growth and Size: Evidence. A Share Picker's Miscellany. Technical Analysis. Sector Strategy. Constructing a Share Portfolio. Bonds: An Introduction. Bond Strategy. International Investing. Derivatives. Strategic and Tactical Asset Allocation. Tactical Asset Allocation: The Economy and Market Ratios. Tactical Asset Allocation: Risk and Return. Fund Managers: Buy, Sell or Hold? Appendix: Statistical Methods. Glossary. References. Index.

Read more less

Book SynopsisOptions are a financial instrument that allows the purchaser of the option to either buy or sell shares or commodities on a specified date in the future, but there is no obligation to do so (hence, option). The purchaser must pay a premium to the seller but should the market go against the purchaser there is no requirement to exercise the right.Table of ContentsPreface. PART I: ELEMENTS OF OPTION THEORY. Fundamentals. Option Basics. Stock Price Distribution. Principles of Option Pricing. The Black Scholes Model. American Options. PART II: NUMERICAL METHODS. The Binomial Model. Numerical Solutions of the Black Scholes Equation. Variable Volatility. Monte Carlo. PART III: APPLICATIONS: EXOTIC OPTIONS. Simple Exotics. Two Asset Options. Currency Translated Options. Options on One Asset at Two Points in Time. Barriers: Simple European Options. Barriers: Advanced Options. Asian Options. Passport Options. PART IV: STOCHASTIC THEORY. Arbitrage. Discrete Time Models. Brownian Motion. Transition to Continuous Time. Stochastic Calculus. Equivalent Measures. Axiomatic Option Theory. Mathematical Appendix. Bibliography and References. Index.

Read more less

Book SynopsisReal-world help for companies combating fraud from major management fraud to fraudulent financial reporting From the author's more than thirty years of corporate auditing experience, Corporate Fraud features scores of useful case studies that illustrate the principles of numerous types of fraud and how to avoid them in your business. A must-have for all auditors, controllers, CFOs, and business managers, Corporate Fraud offers broad coverage of: The most common and damaging types of fraud in today's business environment The many facets of fraud, including management fraud, corporate governance, and top-level forensics issues, as well as financial statement fraud and the interconnected nature of each Corruption: bribery, including contracting, subcontracting, and leasing; and outsourcing Misappropriation: vendor billings, skimming, and diverted receipts Fraud for the organization: money laundering, price fixing, and fraTrade Review"This is one more that receives a "buy recommendation" from AuditNet." (AuditNet, 5/1/2004)Table of ContentsChapter 1. Overview. Varieties of Fraud/Perspective. More Than Fraudulent Financial Statements. Emphasis: Recognition and Detection—Case Studies. Major Management Fraud Is Different. Chapter 2. Perspective (ACFE Studies). 1996 and 2002 ACFE Reports to the Nation. Breakdown of Estimated Total Occupational Fraud Loss by Major Category. Classifications. Chapter 3. Management Fraud against the Organization (General). Characteristics. Major Symptoms of Management Fraud. Opportunities Afforded by the System for Performance Accountability. Chapter 4. Red Flags of Management Fraud. Six Major Fraud Profiles—Common Elements. Red Flags of Management Fraud. Contrast with Nonmanagement Fraud. Bullet-Proof and Invisible Leads to Flaunting. Chapter 5. Fraud against the Organization (Corruption). Middlemen. Real Estate/Related Parties. Bribery—Contracting/Subcontracting/Leasing. Outsourcing. Mani pulation of Performance Bonuses/Co-opting Others. Chapter 6. Fraud against the Organization (Asset Misappropriation). Various General Accounting-Cycle Fraud Symptoms. Vendor Billings—False Invoices/Phantom Vendor (Shell Company). Other Disbursement Fraud. Inventory. Skimming/Cash Receipt Misappropriation Fraud. Chapter 7. Fraud for the Organization. Financial Reporting. Money Laundering/Illegal Practices. International Arena. Price-Fixing/Bid Rigging. Commercial Bribery. Chapter 8. Methodology: Detection/Investigation. Differences—Management versus Employee Accounting-Cycle-Type Fraud Detection/Investigation. Recognition/Detection. Detection/Investigation. Investigation. Chapter 9. CAAT Scans for Scams. Middlemen/Related Parties. Top-Down Forensic Monitoring. Telltale Debits of Misappropriation. Bank Accounts/Addresses. Chapter 10. Conclusion. Low Frequency of Detection/Prosecution versus Effective Prevention. Managerial as Well as Accounting Perspective. History: Good Old Days. Risk/Reward Dynamic. Thoughts on Recent Accounting Scandals. Appendix A: Practice Advisory 1210.A2-1: Identification of Fraud. Appendix B: Practice Advisory 1210.A2-2: Responsibility for Fraud Detection. Appendix C: Derivation: Management Non-Financial-Statement Fraud as a Percentage of Total Occupational Fraud Loss. Appendix D: Percentage of Total Occupational Fraud Loss Attributable to Management Fraud. Appendix E: KPMG Study. Appendix F: Classification: Management Fraud Categories. Glossary of Terms. Notes. Index.

Read more less

Book SynopsisMany banks have sought to improve shareholder value through mergers and acquisitions and the next few years are likely to see considerable consolidation within the industry. This text gives particular emphasis to whether performance is related to size.Trade Review"provides a real insight...explained in a clear and readily-comprehensible style" (IFS News, June 2001)Table of ContentsAcknowledgements. List of Tables. List of Figures. Introduction. Current Developments in European Banking. The Economics of Industry Structure. Market Structure and the Growth and Performance of Banks. Efficiency in European Banking. Technological Change in European Banking. The Law of Proportionate Effect: Previous Empirical Research. Stochastic Models of the Growth of Banks. Empirical Tests of the Law of Proportionate Effect for European Banking. References. Index.

Read more less

Book SynopsisThe pricing and hedging of fixed-income securities is technically more complicated than the pricing and hedging of equity instruments. The wide assortment of fixed-income products have different coupon structures, amortization, and fixed and/or floating rates.Trade Review"This is the first book I have seen to carefully cover such a wideset of topics in both theoretical and applied fixed-incomemodelling, ranging from the use of market information to obtainyield curves, to the pricing and hedging of bonds and fixed-incomederivatives, to the currently active topic of defaultableyield-curve modelling. It will be particularly useful topractitioners." - Darrell Duffie, Stanford University "This is the most comprehensive theoretical treatment of thesubject I've ever seen." - Mark Rubinstein, Haas School ofBusiness, University of California "An excellent review of interest rate models and of the pricingand hedging principles in the fixed-income area. " - Oldrich AlfonsVasicek, KMV CorporationTable of ContentsIntroduction. Acknowledgments. Standard Notation. PRICING AND HEDGING CERTAIN CASH-FLOWS Deriving the Current Zero-Coupon Rate Curve. Basic Assets Pricing and Hedging. PRICING AND HEDGING UNCERTAIN CASH-FLOWS. Modelling the Zero-Coupon Yield Curve Dynamics. Pricing and Hedging Fixed-Income Derivatives. MATHEMATICAL APPENDICES. Appendix A: An Introduction to Stochastic Processes in ContinuousTime. Appendix B: Numerical Methods. References. Index.

Read more less

Book SynopsisOffering a market--oriented approach enabling the reader to understand the subject in a broader context, this book covers up--to--date topics such as value at risk and credit risk. Presented in a mathematically--friendly tone, the material provides an accessible introduction to risk management and derivatives.Table of ContentsPreface xvii Part 1: Derivatives: An Overview Part 2: Forwards and Futures Part 3: Options and Swaps Part 4: Advanced Derivatives and Stochastic Processes Part 5: Risk and Regulation Glossary 735 List of Symbols 753 List of ‘Topic Boxes’ 759 Internet Sites 761 References 765 Author Index 769 Subject Index 771

Read more less

Book SynopsisBehavioral Finance, a translation of a highly successful German book, provides the necessary scientific and practical knowledge to enable investors to overcome their inherent irrationality, while taking advantage of that of others.Table of ContentsPreface. Forecasts: Fundamentals, Technical Analysis and Behavioral Finance. An Analysis of Exposure: Desire and Reality. Dams to Combat the Flood of Information: Strategies for Controlling Difficult Situations. Everything is Relative - Even the Evaluation of Gains and Losses. People Like to See Themselves in a Favorable Light: The Consequences of Psychological Needs. Everyone is Different: Three Types of Market Participant. Free Advice: Valuable Tips for Successful Trades. References. Further Reading. Index.

Read more less

Book SynopsisThis new and unique book demonstrates that Excel and VBA can play an important role in the explanation and implementation of numerical methods across finance. Advanced Modelling in Finance provides a comprehensive look at equities, options on equities and options on bonds from the early 1950s to the late 1990s. The book adopts a step-by-step approach to understanding the more sophisticated aspects of Excel macros and VBA programming, showing how these programming techniques can be used to model and manipulate financial data, as applied to equities, bonds and options. The book is essential for financial practitioners who need to develop their financial modelling skill sets as there is an increase in the need to analyse and develop ever more complex ''what if'' scenarios. Specifically applies Excel and VBA to the financial markets Packaged with a CD containing the software from the examples throughout the book Note: CD-ROM/DVD and other suppTrade ReviewNo. 4 bestseller in 'General Finance' (erivativesreview.com, December 2001)Table of ContentsPreface xi Acknowledgements xii 1 Introduction 1 1.1 Finance insights 1 1.2 Asset price assumptions 2 1.3 Mathematical and statistical problems 2 1.4 Numerical methods 2 1.5 Excel solutions 3 1.6 Topics covered 3 1.7 Related Excel workbooks 5 1.8 Comments and suggestions 5 Part One Advanced Modelling in Excel 7 2 Advanced Excel functions and procedures 9 2.1 Accessing functions in Excel 9 2.2 Mathematical functions 10 2.3 Statistical functions 12 2.3.1 Using the frequency function 12 2.3.2 Using the quartile function 14 2.3.3 Using Excel’s normal functions 15 2.4 Lookup functions 16 2.5 Other functions 18 2.6 Auditing tools 19 2.7 Data Tables 20 2.7.1 Setting up Data Tables with one input 20 2.7.2 Setting up Data Tables with two inputs 22 2.8 XY charts 23 2.9 Access to Data Analysis and Solver 26 2.10 Using range names 27 2.11 Regression 28 2.12 Goal Seek 31 2.13 Matrix algebra and related functions 33 2.13.1 Introduction to matrices 33 2.13.2 Transposing a matrix 33 2.13.3 Adding matrices 34 2.13.4 Multiplying matrices 34 2.13.5 Matrix inversion 35 2.13.6 Solving systems of simultaneous linear equations 36 2.13.7 Summary of Excel’s matrix functions 37 Summary 37 3 Introduction to VBA 39 3.1 Advantages of mastering VBA 39 3.2 Object-oriented aspects of VBA 40 3.3 Starting to write VBA macros 42 3.3.1 Some simple examples of VBA subroutines 42 3.3.2 MsgBox for interaction 43 3.3.3 The writing environment 44 3.3.4 Entering code and executing macros 44 3.3.5 Recording keystrokes and editing code 45 3.4 Elements of programming 47 3.4.1 Variables and data types 48 3.4.2 VBA array variables 48 3.4.3 Control structures 50 3.4.4 Control of repeating procedures 51 3.4.5 Using Excel functions and VBA functions in code 52 3.4.6 General points on programming 53 3.5 Communicating between macros and the spreadsheet 53 3.6 Subroutine examples 56 3.6.1 Charts 56 3.6.2 Normal probability plot 59 3.6.3 Generating the efficient frontier with Solver 61 Summary 65 References 65 Appendix 3A The Visual Basic Editor 65 Stepping through a macro and using other debug tools 68 Appendix 3B Recording keystrokes in ‘relative references’ mode 69 4 Writing VBA user-defined functions 73 4.1 A simple sales commission function 73 4.2 Creating Commission(Sales) in the spreadsheet 74 4.3 Two functions with multiple inputs for valuing options 75 4.4 Manipulating arrays in VBA 78 4.5 Expected value and variance functions with array inputs 79 4.6 Portfolio variance function with array inputs 81 4.7 Functions with array output 84 4.8 Using Excel and VBA functions in user-defined functions 85 4.8.1 Using VBA functions in user-defined functions 85 4.8.2 Add-ins 86 4.9 Pros and cons of developing VBA functions 86 Summary 87 Appendix 4A Functions illustrating array handling 88 Appendix 4B Binomial tree option valuation functions 89 Exercises on writing functions 94 Solution notes for exercises on functions 95 Part Two Equities 99 5 Introduction to equities 101 6 Portfolio optimisation 103 6.1 Portfolio mean and variance 103 6.2 Risk–return representation of portfolios 105 6.3 Using Solver to find efficient points 106 6.4 Generating the efficient frontier (Huang and Litzenberger’s approach) 109 6.5 Constrained frontier portfolios 111 6.6 Combining risk-free and risky assets 113 6.7 Problem One–combining a risk-free asset with a risky asset 114 6.8 Problem Two–combining two risky assets 115 6.9 Problem Three–combining a risk-free asset with a risky portfolio 117 6.10 User-defined functions in Module1 119 6.11 Functions for the three generic portfolio problems in Module1 120 6.12 Macros in ModuleM 121 Summary 123 References 123 7 Asset pricing 125 7.1 The single-index model 125 7.2 Estimating beta coefficients 126 7.3 The capital asset pricing model 129 7.4 Variance–covariance matrices 130 7.5 Value-at-Risk 131 7.6 Horizon wealth 134 7.7 Moments of related distributions such as normal and lognormal 136 7.8 User-defined functions in Module1 136 Summary 138 References 138 8 Performance measurement and attribution 139 8.1 Conventional performance measurement 140 8.2 Active–passive management 141 8.3 Introduction to style analysis 144 8.4 Simple style analysis 145 8.5 Rolling-period style analysis 146 8.6 Confidence intervals for style weights 148 8.7 User-defined functions in Module1 151 8.8 Macros in ModuleM 151 Summary 152 References 153 Part Three Options on Equities 155 9 Introduction to options on equities 157 9.1 The genesis of the Black–Scholes formula 158 9.2 The Black–Scholes formula 158 9.3 Hedge portfolios 159 9.4 Risk-neutral valuation 161 9.5 A simple one-step binomial tree with risk-neutral valuation 162 9.6 Put–call parity 163 9.7 Dividends 163 9.8 American features 164 9.9 Numerical methods 164 9.10 Volatility and non-normal share returns 165 Summary 165 References 166 10 Binomial trees 167 10.1 Introduction to binomial trees 167 10.2 A simplified binomial tree 168 10.3 The Jarrow and Rudd binomial tree 170 10.4 The Cox, Ross and Rubinstein tree 173 10.5 Binomial approximations and Black–Scholes formula 175 10.6 Convergence of CRR binomial trees 176 10.7 The Leisen and Reimer tree 177 10.8 Comparison of CRR and LR trees 178 10.9 American options and the CRR American tree 180 10.10 User-defined functions in Module0 and Module1 182 Summary 183 References 184 11 The Black–Scholes formula 185 11.1 The Black–Scholes formula 185 11.2 Black–Scholes formula in the spreadsheet 186 11.3 Options on currencies and commodities 187 11.4 Calculating the option’s ‘greek’ parameters 189 11.5 Hedge portfolios 190 11.6 Formal derivation of the Black–Scholes formula 192 11.7 User-defined functions in Module1 194 Summary 195 References 196 12 Other numerical methods for European options 197 12.1 Introduction to Monte Carlo simulation 197 12.2 Simulation with antithetic variables 199 12.3 Simulation with quasi-random sampling 200 12.4 Comparing simulation methods 202 12.5 Calculating greeks in Monte Carlo simulation 203 12.6 Numerical integration 203 12.7 User-defined functions in Module1 205 Summary 207 References 207 13 Non-normal distributions and implied volatility 209 13.1 Black–Scholes using alternative distributional assumptions 209 13.2 Implied volatility 211 13.3 Adapting for skewness and kurtosis 212 13.4 The volatility smile 215 13.5 User-defined functions in Module1 217 Summary 219 References 220 Part Four Options on Bonds 221 14 Introduction to valuing options on bonds 223 14.1 The term structure of interest rates 224 14.2 Cash flows for coupon bonds and yield to maturity 225 14.3 Binomial trees 226 14.4 Black’s bond option valuation formula 227 14.5 Duration and convexity 228 14.6 Notation 230 Summary 230 References 230 15 Interest rate models 231 15.1 Vasicek’s term structure model 231 15.2 Valuing European options on zero-coupon bonds, Vasicek’s model 234 15.3 Valuing European options on coupon bonds, Vasicek’s model 235 15.4 CIR term structure model 236 15.5 Valuing European options on zero-coupon bonds, CIR model 237 15.6 Valuing European options on coupon bonds, CIR model 238 15.7 User-defined functions in Module1 239 Summary 240 References 241 16 Matching the term structure 243 16.1 Trees with lognormally distributed interest rates 243 16.2 Trees with normal interest rates 246 16.3 The Black, Derman and Toy tree 247 16.4 Valuing bond options using BDT trees 248 16.5 User-defined functions in Module1 250 Summary 252 References 252 Appendix Other VBA functions 253 Forecasting 253 ARIMA modelling 254 Splines 256 Eigenvalues and eigenvectors 257 References 258 Index 259

Read more less

Book SynopsisOver recent years there has been rapid consumer--led growth in investing in socially responsible companies to the extent that it has had an influence on corporate policies. New regulations recognise the public interest by requiring all pension funds to declare their ethical policy.Trade Review"…Sparkes addresses the topic logically and succinctly and appears to cover all significant considerations…a useful tool for investors and managers…"" (Professional Investor, November 2002) "...While traditional ethical funds exclude sectors like tobaacco, gambling and companies using child labour, Russell Sparkes, author of the new book Socially Responsible Investment: A Global Revolution, says things are changing..." (Independent on Sunday, 24 November 2002) "…The authors, however have done a highly diligent and professional job in surveying the current banking scene in Europe…" (The Tablet, 4 January 2003)Table of ContentsForeword by Tim Smith. Series Preface. Preface. Part I: Exploring Socially Responsible Investment. Socially Responsible Investment Comes of Age. What Is Socially Responsible Investment? From the Beginning. Profiling the Investors. Screening in Practice. Part II: Issues for Institutional Investors. From Environmental Risks.... ....To Sustainable Development. Human Rights. Corporate Social Responsibility. Investment Returns. Part III: A Global Revolution. Information Services. Alternative Approaches: Canada and Australia. Into the Mainstream. A Global Revolution. Index.

Read more less

Book SynopsisIn The Whole Worlda s Watching the authors explain how money can be channeled into the technology that will preserve the lifestyles we currently enjoy and create a new era of economic growth. This is a book that proposes real, concrete solutions.Trade Review"A timely new book." ---- The Daily Telegraph, 28th November 2000Table of ContentsForeword. Jack Kemp: Biographical Information. Acknowledgments. The Whole World's Watching. America Strikes Out. The Rest of the World. Power to the People. The Afterburners. Renewable Energy. Nuclear Energy. Fuel Cells. Trading. Methane and Other Greenhouse Gases. Kyoto Has No Soul. Glossary.

Read more less

Book SynopsisThis volume focuses on the following three themes: model and forecast combinations; structural change and long memory; and controlling downside risk and investment strategies.Table of ContentsContributors. About the Contributors. Series Preface. Preface THEME I MODEL AND FORECAST COMBINATIONS What Exactly Should We Be Optimising? Criterion Risk in Multicomponent and Multimodel Forecasting (A. Neil Burgess). A Meta-parameter Approach to the Construction of Forecasting Models for Trading Systems (Neville Towers and A. Neil Burgess). The Use of Market Data and Model Combination to Improve Forecast Accuracy (Christian L. Dunis, Jason Laws and Sté phane Chauvin). 21 Nonlinear Ways to Beat the Market (George T. Albanis and Roy A. Batchelor). Predcting High Performance Stocks Using Dimensionality Reduction Techniques Based on Neural Networks (George T. Albanis and Roy A. Batchelor). THEME II STRUCTURAL CHANGE AND LONG MEMEORY Structural Change and Long Memory in Volatility: New Evidence from Daily Exchange Rates (Michel Beine and Sé bastien Laurent). Long-run Volatility Dependencies in Intraday Data and Mixture of Normal Distributions (Auré lie Boubel and Sé bastien Laurent). Comparison of Parameter Esitmation Methods in Cyclical Long Memory Time Series (Laurent Ferrara and Dominique Guegan). THEME III CONTROLLING DOWNSIDE RISK AND INVESTMENT STRATEGIES Building a Mean Downside Risk Portfolio Frontier (Gustavo M. de Athayde). Implementing Discrete-Time Dynamic Investment Strategies with Downside Risk: A Comparison of Returns and Investment Policies (Mattias Persson). Portfolio Optimisation in a Downside Risk Framework (Riccardo Bramante and Barbara Cazzaniga). The Three-moment CAPM: Theoretical Foundations and an Asset Pricing Model Comparison in a Unified Framework (Emmanuel Jurczwnko and Bertrand Maillet). Stress-testing Correlations: An Application to Portfolio Risk Management (Frederick Bourgoin.) Index.

Read more less

Book SynopsisHaving spent 38 years in banking, including 21 as a CEO, the author believes that marketing is the foundation of the banking business and the key to its survival. Profound changes have occurred in the use and influence of marketing in the banking industry. Contains the best marketing ideas for financial institutions in the 1990''s, developed by some of the top and most respected marketers in banking.Table of ContentsThe New World of Banking. Marketing for Survival and Progress. 55 Ideas from Some of Banking's Best Marketers. Removing the Barriers to Good Marketing. Keep Looking for Great Ideas. Index.

Read more less

Book SynopsisTo become successful in the bond options market, it is important for professionals to gain a basic, yet thorough understanding of how options are priced, traded, and used in interest-rate risk and fixed-income portfolio management. Provides practical answers to questions that new participants will ask as they become more sophisticated in the bond option market. It describes the U.S. government bond options markets and discusses how options pricing and computer technologies are used in market-making, strategic trading, and value investing. After introducing standard options terminology, it provides background data on U.S. Treasury bonds, bond options pricing models, advanced pricing models, the fundamentals of bond options dealing, strategies driven by interest rate forecasts, the most widely used structured portfolio strategies involving options, and more.Table of ContentsThe Bond Option Market. Pricing Models for Bond Options. Advanced Pricing Models for Bond Options. Model Selection, Evaluation, and Parameter Estimation. Dealing in Bond Options. A Computerized Options Trading and Risk Management System forDealers. Relative-Value Trading in Bond Options. Strategies Driven by Estimated Forthcoming Volatility. Strategies Driven by Interest Rate Forecasts. Portfolio Strategies Involving Options. Appendix. Index.

Read more less

Book SynopsisProvides practical, comprehensive information and strategies for using managed futures successfully. Clearly explains the benefits of managed futures and their role in a traditional portfolio. Uses case studies and firsthand reports to show how corporations are using managed futures.Table of ContentsTHE FOUNDATIONS. The Potential Role of Managed Futures in Institutional PensionPortfolios (S. Irwin). Using Alternative Investment Strategies and Managed FuturesAccounts in Pension Portfolios (M. Dunmire). Multi-Manager Commodity Portfolios: A Risk/Return Analysis (T.Schneeweis, et al.). APPLICATIONS OF MANAGED FUTURES INVESTING. Evaluating Commodity Trading Advisors (L. Doerrer). A Guide to Organizing a Commodity Pool (M. Mitchell & D.Kozak). Fiduciary Selection and Prohibited Transactions Under ERISA (J.Collins & D. Dygert). U.S. Accounting and Taxation for Managed Futures and Options (G.Mangieri & J. Oliver). Managed Futures: The Consultant's View (H. Marmer). The Financial Considerations of Futures Execution and Clearing(P. Bennett). Inflation Hedging with Unleveraged Futures (S. Hanke & C.Culp). Futures Versus Stocks: A Risk Comparison (P. Matthews & P.Magnollay). Chapter Notes. Index.

Read more less

Book SynopsisReveals the tools, tactics and strategies that financial industry executives can use to realign and revitalize their retail banking organizations. The primary focus is on the needs and expectations of customers. Explores not only breakthrough technologies but innovative uses of conventional technology and refreshed or enhanced systems to add value to any retail banking operation. Contains practical advice, suggestions, and insights offered by scores of bankers. Topics include information and integration; teller system and service imperatives; platform automation; electronic banking; innovative products and packages; marketing information systems; sales and staff performance; branch bank merchandising and more.Table of ContentsRelationship Banking for the 21st Century. Information and Integration. Teller System and Service Imperatives. The Promise of Platform Automation. Electronic Banking. Innovative Imaged Products and Services. Marketing Systems and Strategies. Sales and Staff Performance. Branch Bank Merchandising. Breaking Banking Barriers. Productivity and Profitability. Indexes.

Read more less

Book SynopsisCombines a history of short selling with current strategies and applications to present a complete guide to this increasingly popular investment tool. Procedural and regulatory requirements are mixed with actual case studies and examples that readers can apply to specific situations. Risks and rewards of short selling are discussed in detail as are short selling as a tool for protecting other investments and for speculation.Table of ContentsA Look Back: Corners and Bear Raids. The Regulators Arrive. The Laws, The Rules, The Results. Applications of Selling Short. The Mechanics of Selling Short. Protecting Short Positions: Equity Options. Decision Making Through Market Analysis. Commodity Futures. Stock Index Futures and Program Trading. Beware the Bear. Glossary. Bibliography. Index.

Read more less

Book SynopsisThe first step-by-step guide to cover the entire probate process in plain everyday language. The Complete Probate Kit Over 5,000 estates enter the probate process every day in the United States--a process which you most probably will be involved in at least once in your lifetime.Table of ContentsBefore Probate. Opening Probate. Probate Administration. Inventory and Valuation. Before Distribution. Taxes. Distribution and Closing. Settlement Sample. Probate Planning. Index. Record Set. Document Set.

Read more less

Book SynopsisThe man Barron''s dubbed the ultimate Wall Street pro returns witha stunning follow-up to his bestselling Trader Vic--Methods of aWall Street Master (The best investment book of 1992--The StockTrader''s Almanac). Take an advanced class in his patented tradingand investment philosophy and learn how the master makes betterinvestment decisions . . . deciphers economic theories and usesthem to predict investment outcomes . . . cuts through the lies,fallacies, and distortions that muddle and confound trading andinvestment decision making . . . and much more! What the experts said about Trader Vic--Methods of a Wall StreetMaster . . . Victor Sperandeo is gifted with one of the finest minds I know. Nowonder he''s compiled such an amazing record of success as a moneymanager. Every investor can benefit from the wisdom he offers inhis new book. Don''t miss it! --Paul Tudor Jones, Tudor InvestmentCorporation. Here''s a simple review in three steps: 1. Buy this book! 2. Trade Review"The Ultimate Wall Street Pro."--Barron's "Victor Sperandeo is gifted with one of the finest minds I know. Nowonder he's compiled such an amazing record of success as a moneymanager. Every investor can benefit from the wisdom he offers inhis new book. Don't miss it!"--Paul Tudor Jones, Tudor InvestmentCorporation "Here's a simple review in three steps: 1. Buy this book! 2. Readthis book! 3. See step 2. For those who can't take a hint, VictorSperandeo with T. Sullivan Brown has written a gem, a book of valuefor everyone in the markets, whether egghead, novice, or seasonedspeculator."--John Sweeney, Technical Analysis of Stocks andCommodities "Get Trader Vic-Methods of a Wall Street Master by VictorSperandeo, read it over and over and you'll never have a losingyear again."--Yale Hirsch, Smart MoneyTable of ContentsECONOMIC FUNDAMENTALS. The Fundamental Principles of a Sound Investment Philosophy. The Economic Principles of Market Forecasting. Money, Credit, and the Business Cycle. Political Influences on the Business Cycle. Applying Macrofundamental Analysis to Economic Forecasting: AnOutlook for the 1990s. The History and Future of the Dollar. TECHNICAL ANALYSIS. Volatility, Opportunity, and Growth of Gross NationalProduct. The Stock Market as Economic Forecaster: The Lessons ofHistory. The Technical Basis of Risk-Reward Analysis. The Technical Principles of Market Analysis Applied. The Principles of Technical Analysis Applied. OPTIONS TRADING. Options: The Key to Triple-Digit Returns. A Professional Method of Day Trading. A TRADER'S PSYCHOLOGY. The Character and Personality of a Trader. Epilogue: The Morality of Wealth. Notes. Index.

Read more less

Book SynopsisThis new addition to the Wiley Series in Finance is edited by a practitioner and teacher of the topic. It includes 35 cases on various aspects of international finance.Table of ContentsPartial table of contents: FINANCIAL MARKETS AND FINANCIAL TRANSACTIONS. Atlantic Financial Services, Ltd. (H. Poniachek). Societe Montage (M. Dowling). Metro Corporation, Inc. (S. Mangiero). CURRENCY EXPOSURE, PRICE EXPOSURE, AND HEDGING. The International Chemical Corporation, Inc. (H. Poniachek). ABC Airlines (V. Bansal, et al.). CORPORATE FUNDING AND CAPITAL STRUCTURE. Hydro-Quebec (G. Stanley & C. Deshayes). Guinness Peat Aviation (F. Bradley). INTERNATIONAL CASH AND WORKING CAPITAL MANAGEMENT. World Tours, Inc. (J. Marshall, et al.). INTERNATIONAL PORTFOLIO INVESTMENT. Templeton Growth Fund, Inc. (H. Poniachek). INTERNATIONAL CAPITAL BUDGETING: DIRECT FOREIGN INVESTMENT. IBM and Thailand (T. Pugel & J. Lee). The FMC Corporation (H. Poniachek). INTERNATIONAL CORPORATE TAXATION. Irving Oil Versus the Queen (A. Rugman & A. Verbeke). Mobil Corporation (H. Poniachek). ENVIRONMENTAL ISSUES AND ANALYSIS. The EC-1992 Program (H. Poniachek). The Chip War (R. Moxon).

Read more less

Book SynopsisA guide to improving sales and profits in consumer financial services that stresses the development of a sales and service culture. The key principles discussed are interaction with customers, cultural support and values, service from the customer''s point of view, service selling, characteristics of successful sales organizations, star sales people, perfecting the sales process, dealing with prospective clients, and ongoing interaction with the client.Table of ContentsWhat Business Are You In?. Do You Have What It Takes to Be In Business?. What Is Service?. Service Selling. The Six Characteristics of an Effective Sales Organization. What Do Star Salespeople Do?. Making the Sales Process Flawless. Meeting Prospective Clients for the First Time. Interacting with Clients--Delivering the Goods. Growing Your Business Through Referrals. Selected Bibliography. Do You Have Any Comments?. Index.

Read more less

Book SynopsisPresents a complete introduction to modern exchange markets and what to know in order to operate them effectively using trading systems, computer-based models and other analytical tools. Contains an in-depth explanation of the emerging structure of new international financial markets including insights into current electronic and global markets.Table of ContentsThe New World of Treasury Functions. The Treasurer's Responsibility for Risk Management. Problems in Risk Control: How the Japanese Face theChallenge. Transacting Foreign Exchange Deals. Foreign Exchange Operations. Swaps, Hedging, Bond Dealing, and Currency Management. Dealing in Currencies. West European Currency, Political Union, and the FinancialInfrastructure. The ECU, the German Mark, and the Dollar. Economic Planning and the East European Transformation. Commodities and Futures Trading. Dealing in Options. Arbitrage, Spread Management, and Gap Analysis. A Financial Advisor System Project. Looking Forward: Treasury Operations in the Year 2000. Index.

Read more less

Book SynopsisThe comprehensive guide to creating, valuing, and trading today''smost innovative fixed-income securities . Financial marketsworldwide are being flooded with a wealth of innovative andincreasingly complex securities. Now, more than ever, fixed-incomeprofessionals must understand how these synthetic instruments arestructured and traded, and how to profitably integrate them into anoverall financial strategy. Fixed-Income Synthetic Assets suppliesthis crucial working knowledge. This results-driven primer deliversthe proven tools and techniques for packaging, pricing, and tradingthese innovative products. From A-tranche CMOs to Zero couponbonds, this unique sourcebook guides both the novice and theprofessional through the full range of innovative syntheticstructures and their manifold uses. It''s packed with easy-to-useformulas and charts, as well as clear, step-by-step discussions offinancial theory that promote clear understanding of the mostcomplex fixed-income financial engineering strTable of ContentsPartial table of contents: THE BUILDING BLOCKS OF SYNTHETIC ASSETS. Present Value, Compound Interest, and Total Returns. Forward Rates and Spot Rates. Duration and Convexity. SYNTHETIC MONEY MARKET SECURITIES. A Survey of Cash Money Market Securities. Repos, Reverse Repos, and Dollar Rolls. Treasury Bill Futures. Eurodollar Futures and International Money Markets. Floating Rate Notes. SYNTHETIC NOTES, BONDS, AND OPTIONS. Creating Duration. Creating Convexity. Creating Other Synthetic Assets. SYNTHETIC FIXED-INCOME PORTFOLIOS. Creating Portfolio Duration. Designing Portfolio Returns. VARIATIONS ON A THEME. Equity- and Commodity-Linked Securities. Synthetic Option Strategies. Appendices. Glossary. Index.

Read more less

Book SynopsisAn exposition to the world of relative-value trading in the fixed-income markets written by a leading-edge thinker and scientific analyst of global financial markets. Using concrete examples, he details profit opportunities--treasury bills, bonds, notes, interest-rate futures and options--explaining how to obtain virtually risk-free rewards if the proper knowledge and skills are applied. Discusses the critical success factors of relative-value trading and highlights the important role of technology, capital requirements and considerations in order to set up a fixed-income arbitrage system.Table of ContentsA Repertoire of Arbitrage Techniques. The Global Fixed-Income Securities Markets. Analytical Tools for Fixed-Income Securities. Advanced Models and Algorithms. Fixed-Income Analytics on the Trading Floor. Relative-Value Trading in Short-Maturity Instruments. Yield Spreads in the Intermediate- and Long-MaturitySectors. Relative-Volatility Trading in Bond Options. Critical Success Factors of an Arbitrage Trading Unit. Index.

Read more less

Book SynopsisGlobalization, new technology, 24 hour trading, the growth of pension funds and the rise of quantitative techniques have led to fund managers facing entirely new issues. This book discusses the future of the industry.Trade Review"…Dr Acharaya is rather to be congratulated on having produced nothing less than a definitive study of an industry still in the process of adapting to a very changed world…" (Professional Investor, October 2002) Table of ContentsCapital Market Revolution. The Alpha and Beta of Investing. Indexation. Active Management. Absolute Return Strategies. Private Equity. Socially Responsible Investing. Concluding Observations. Notes. Bibliography. Index.

Read more less

Book SynopsisPraise for the classic guide to gaining a psychological advantage in investment and trading "The Investor's Quotient is destined to go down in history as the ultimate book on investor psychology... it explains the psychology of a trader in clear and simple English...Table of ContentsPartial table of contents: My Story. Many Markets--Many Similarities. The Response Sector. The Consequences of Behavior. How to Rectify Trading Errors. Scheduling and Self-Discipline. The Importance of Trading with the Trend. The Role of Advisory Services. Is This You? The Broker-Client Relationship. Social Psychology and the Markets. The Perceptual Factor. Minimize Stress--Maximize Health and Profits. Often-Asked Questions. Sex and the Markets: Fact or Fantasy. Creative Visualization and Guided Imagery. Why Too Many Traders and Investors Lose. Bibliography. Overview of "Trading Masters". Index.

Read more less

Book SynopsisFor commodity traders and portfolio managers--a practical, hands-on guide to profiting in today's growing international cross rate markets.Table of ContentsExchange-Traded Versus Interbank Markets. Varieties of Cross Rates. Fundamentals of Foreign Exchange. Technical and Intermarket Analysis of Cross Rates. Bringing It All Together--Specific Strategies andTactics. What to Expect in the Future. Appendices. Glossary. Index.

Read more less

Book SynopsisIntended to develop the essential selling skills needed to effectively market the broad range of credit and noncredit services banks now offer. Assist bankers in their roles as financial consultants to their customers.Table of ContentsProduct Knowledge. Consultative Sales Approach. Aspects of Developing and Managing Relationships. Sales Tips. Self-Training for Line Bankers. Reader's Feedback Summary. Index.

Read more less

Book SynopsisAll companies that import or export product to an affiliate company are subject to transfer pricing - the sale, license, or lease of a product from one affiliated company to another. This book provides a comprehensive analysis of the various transfer pricing methods that are available to today's company.Table of ContentsPreface. PART ONE: UNDERSTANDING TRANSFER PRICING. Chapter 1. Practical Aspects of Transfer Pricing. Chapter 2. Business Facets of Transfer Pricing. Chapter 3. General Principles and Guidelines. Chapter 4. Transfer Pricing Basics. PART TWO: APPLYING SPECIFIC TRANSFER TECHNIQUES. Chapter 5. Comparable Uncontrolled Price Method, Resale Price Method, and Cost-Plus Method. Chapter 6. Comparable Profits Method. Chapter 7. Comparable Uncontrolled Transaction Method for Intangibles. Chapter 8. Transfer Pricing for Services. Chapter 9. Cost Sharing. Chapter 10. Profit Methods. PART THREE: FOCUS ON INTERNATIONAL TRANSFER PRICING ISSUES. Chapter 11. Foreign-Owned U.S. Corporations Reporting. Chapter 12. Organization for Economic Cooperation and Development Guidelines. Chapter 13. Transactional Net Margin Method. PART FOUR: AVOIDING TRANSFER PRICING PENALTIES. Chapter 14. Transfer Pricing Penalties. Chapter 15. Transfer Pricing Penalty Exclusion for Contemporaneous Documentation. PART FIVE: ADVANCED TRANSFER PRICING ISSUES. Chapter 16. Advanced Transfer Pricing. Chapter 17. Unfolding Transfer Pricing Issues. Index.

Read more less

Book SynopsisIn these tough economic times, all companies want to have better planning and to control their costs. This is the first book in the marketplace that focuses entirely on helping controllers plan and control their operations.Table of ContentsPreface. 1. General Discussion of Accounting/Statistical Standards. 2. Planning and Control of Sales. 3. Planning and Control of Marketing Expenses. 4. Planning and Control of Manufacturing Costs: Direct Material and Direct Labor. 5. Planning and Control of Manufacturing Costs: Manufacturing Expenses. 6. Planning and Control of Research and Development Expenses. 7. Planning and Control of General and Administrative Expenses. 8. Planning and Control of Cash and Short-Term Receivables. 9. Planning and Control of Receivables. 10. Planning and Control of Inventories. 11. Planning and Control of Plant and Equipment of Capital Assets. 12. Planning and Control of Liabilities. 13. Management of Shareholders’ Equity. Index.

Read more less

Book SynopsisThis book emphasizes that the analytical tools (e.g. , balanced scorecard, activity-based management, etc. ) which presently exist have been tested and are mature, and that their integration is now the big opportunity. This means not just information technology systems integration but the integration of "thinking" (i.e.Trade Review"…a discipline intended to maintain a larger picture and to show how an organisation works as a whole." (Long Range Planning, 2005)Table of ContentsAbout the Author. About the Web Site. Preface. 1. Why the Need for Performance Management as a System? PART ONE: Performance Management Process. 2. Integrating a Suite of Proven Methodologies. 3. Support from Fact-Based Data and Information Technology. PART TWO: Strategy Maps and Balanced Scorecards: The Link between Strategy and Successful Execution by Operations. 4. Measurement Problems and Solutions. 5. Strategy Maps and Scorecards as a Solution. 6. Strategic Objectives’ Drive Gears: Cascading Measures. 7. A Recipe for Implementation. 8. The Human Side of Collaboration. 9. Fact-Based Management Accounting Data. 10. Scorecards and Strategy Maps: Enablers for Performance Management. PART THREE: Leveraging Financial Analytical Facts and Truths. 11. If Activity-Based Management Is the Answer, What Is the Question? 12. Activity-Based Management Model Design and Principles: Key to Success. 13. Operational (Local) Activity-Based Management for Continuous Improvement. 14. Strategic Activity-Based Management for Customer and Channel Profitability Analysis. 15. Predictive Costing, Predictive Accounting, and Budgeting. 16. Activity-Based Management Supports Performance Management. PART FOUR: Integrating Performance Management with Core Solutions. 17. Customer Intelligence and Customer Relationship Management. 18. Supplier Intelligence: Managing Economic Profit across the Value Chain. 19. Process Intelligence with Six Sigma Quality and Lean Thinking. 20. Shareholder Intelligence: Return on Whose Investment? 21. Employee Intelligence: Human Capital Management. PART FIVE: Performance Management, Business Intelligence, and Technology. 22. Data Management and Mining with Performance Management. 23. Final Thoughts: Linking Customers to Shareholders. Index.

Read more less

Book SynopsisHow insightful is Alan Gart''s Regulation, Deregulation, Reregulation? This book is a must for anyone who wishes to chart the future of a radically changing financial industry It contains the most comprehensive histories in a single source of the banking, insurance, and securities companies; what has brought them to their current strains, and what the group is likely to look like a decade from now. It looks like a winner. --Ben Weberman, Columnist Forbes magazine [Alan Gart] gives the reader an excellent feeling of the past, which has caused the situation we are presently in, and more importantly, gives us an excellent view of the future. --L.J. Bud Rowell, Jr., President and CEO Provident Mutual A valuable compendium of important events in the history of the financial services industry. No one--student, banker, or regulator--should be without it. --Irwin L. Kellner, Chief Economist Chemical Bank A monumental effort.Alan Gart knows banking. --Terrence A. Larsen, Chairman CoreStates FinTable of ContentsOVERVIEW AND HISTORY OF FINANCIAL REGULATION. The Financial Services Industry. History of Bank Regulation. Securities and Investment Regulation, 1940-1979. Mainframe Bank Deregulation. Regulation of the Insurance Industry. FINANCIAL DEREGULATION AND CONTEMPORARY FINANCIAL ISSUES. Contemporary Banking Issues. Deposit Insurance and Bank Failures. INDUSTRY TRENDS AND STRUCTURAL CHANGE. Structural Change in the Insurance Industry. The Investment Banking and Securities Industry. Structural Change in the Banking Industry. The Consolidation of the Banking Industry. PROSPECTS FOR REREGULATION AND DEREGULATION IN THE FINANCIALSERVICES INDUSTRY. What Do the Experts Say About Reforming the BankingIndustry?. Where Are We Headed?. Appendix. Glossary. Bibliography. Index.

Read more less

Book SynopsisUses plain English to define and explain salient features---- economic, financial and legal----of the real estate activity to which a given term applies. Covers such major areas as acquisition, disposition and ownership, government regulation and agencies, leasing, property descriptions and management.

Read more less

Book SynopsisA Modern Approach to Graham and Dodd Investing examines the classic Graham and Dodd approach to valuation - a technique adopted by, among others, Warren Buffett and other value investors - and updates it for the twenty-first century.Trade Review“A worthwhile read for investors interested in fundamental analysis following along upon the concepts of Benjamin Graham and David Dodd. The author remains true to the general principles and discipline of the two original fundamental investors when evaluating . . . more modern investments. Many readers may find these sections of particular interest. . . Mr. Au has attempted to extrapolate the thinking of two great investment authors of yesteryear. On balance, he has successfully completed the mission.”(Seeking Alpha)Table of ContentsPREFACE xi PART I Basic Concepts 1 CHAPTER 1 Introduction 3 CHAPTER 2 Investment Evaluations and Strategies 16 PART II Fixed-Income Evaluation 29 CHAPTER 3 Foundation of Fixed Income 31 CHAPTER 4 Fixed-Income Issues of Corporations 47 CHAPTER 5 Distressed Fixed Income 63 PART III Equity Evaluation 79 CHAPTER 6 Cash Flows and Capital Expenditures 81 CHAPTER 7 Analysis of Asset Value 96 CHAPTER 8 Some Observations on the Value of Dividends 112 CHAPTER 9 Some Warnings about the Use of Earnings in Valuation 127 CHAPTER 10 Sales Analysis 143 PART IV Special Vehicles for Investment 157 CHAPTER 11 A Graham and Dodd Approach to Mutual Funds 159 CHAPTER 12 A Graham and Dodd Approach to International Investing 174 CHAPTER 13 A Graham and Dodd View of Real Estate 187 PART V Portfolio Management 203 CHAPTER 14 The Question of Asset Allocation 205 CHAPTER 15 The Concepts of Graham and Dodd versus Modern Theories and Practices 220 CHAPTER 16 Case Studies in Graham and Dodd Investing 234 CHAPTER 17 A Real-Time Experiment 257 PART VI Some Contemporary Issues 271 CHAPTER 18 A Historical View of the Dow and the “Market” 273 CHAPTER 19 Some Disquieting Thoughts on Excessive Credit Creation 292 CHAPTER 20 Generational Cycles in the American Stock Market 306 ENDNOTES 321 BIBLIOGRAPHY 327 INDEX 329

Read more less

Book SynopsisAn accessible guide to the pairs trading technique A leading arbitrage expert gives traders real tools for using pairs trading, including customizable Excel worksheets on CD. Mark Whistler (Denver, CO) is the key developer of pairstrader. com as well as a licensed securities trader and broker and leading arbitrage expert.Table of ContentsAcknowledgments. Introduction. CHAPTER 1:The Nuts and Bolts. What Are Pairs? How Do Pairs Work? Who Uses Pairs? Mindset of Reading This Book. CHAPTER 2: Why Fundamental Analysis? Common Sense. China.com. How Fundamental Analysis Relates to Pairs. CHAPTER 3: Market Basics. Growth and Growth Ratios. Growth, PE, and the PEG Ratio. Tying It All Together. CHAPTER 4: Technical Analysis. Candlestick Charting. Support and Resistance. Trend Lines. Moving Averages. CHAPTER 5: Technical Analysis Indicators. Stochastics. Chaikin Money Flow Oscillator. On-Balance Volume. Relative Strength Index. CHAPTER 6: Basic Pairs Terminology. Understanding the Correlation. Spread, Differential, and Ratio. Divergence Trading. Convergence Trading. CHAPTER 7: Importing Data into Excel. CHAPTER 8: Understanding Correlations—Steve Price. CHAPTER 9: Correlation Simplified. What Is a Correlation? Where to Find Correlations. Building a Correlation Using Excel. CHAPTER 10: Understanding Stock Correlations in Relation to Indices. Why an Index? What Is Beta? How to Apply Beta. Where to Find Beta. CHAPTER 11: Basic Statistics. Frequency Distribution. Mean/Median/Mode. Mean Deviation. Variance. Standard Deviation. CHAPTER 12: Excel and Statistics. Setting Up the Spreadsheet. Average, Median, Mode, and Standard Deviation. Understanding the Present Data. How Do You Know Which Stock to Buy or Short? Charting the Data. CHAPTER 13: Differential versus Ratio. Differential. Ratio. CHAPTER 14: Applying Statistics to Pairs. Density Curve. Understanding the Data. CHAPTER 15: Taking a Step Back for a Moment. CHAPTER 16: Moving Averages and Normalized Standard Deviation. Standard Deviation. Differential Moving Average. Normalized Standard Deviation. CHAPTER 17: Money Management. Why Money Management? Psychology of Money Management. Understanding How Pairs Can Be Dangerous. CHAPTER 18 Money Management II. Fundamental Principles. Know Yourself. The Plan. CHAPTER 19: The Reality of Pairs. Do Pairs Really Work? Trader or Investor? Making the Style Work for You. Intraday Pairs. CHAPTER 20: Trading an Actual Pair. Introduction. Trading Diary—The Beginning. Historical Time Line of Divergence Events. CHAPTER 21: The Current Setup. Understanding Where the Pair Is Now. Anadarko Petroleum. CHAPTER 22: Trading Diary. CHAPTER 23: Correlating Stocks to Indices. General Electric and ExxonMobil. General Electric and the DIAMONDS. ExxonMobil and the DIAMONDS. The Three Wise Men. CHAPTER 24: Option Basics—Scott P. Evans. CHAPTER 25: Understanding Volatility. What Is Volatility? Volatility Position Sizing in Your Spreadsheet. Volatility and the Individual Stock. Weighted Volatility. CHAPTER 26: Understanding Volatility and Options. Speed and Option Premium. Option Strategies for Pairs. CHAPTER 27: Using Technical and Fundamental Analysis with Pairs. Technical Analysis. Fundamentals. KBH Homes and Tol Brothers. Moving Averages and Support and Resistance as Stops. CHAPTER 28: Assorted Advice to Assist Trading. CHAPTER 29: The Monitor Sheet. CHAPTER 30: Conclusion. The Market Bubble. Words of Caution. Last Words of Advice. Appendix I Economic Indicator Summary. Appendix II Web sites, Books, and Software. Endnotes. Glossary—Jonathan Crowell and with Additions from Andrew and Aaron Long. Index. About the CD-ROM.

Read more less

Book SynopsisA Complete Guide to Technical Trading Tactics can help the new individual investor understand the mechanics of the markets. Filled with in-depth insights and practical advice, this book details what it takes to trade and shows readers how they can broaden their horizons by investing in the futures and options markets.Table of ContentsPreface ix Acknowledgments xv CHAPTER 1 Introduction to Futures and Options:Understanding the Mechanics 1 How the markets work, the elevator analogy, product for the times, important terminology such as margin, contract specifications, and leverage CHAPTER 2 Fundamentals: The Market Driver 19 Supply and demand issues, economic growth and productivity effects, major economic reports and their in role in market prices CHAPTER 3 Technical Analysis: The Art of Charts 33Western-style bar charts and key reversals, point-and-figure charts that focus only on price, market profiling, price and time analysis CHAPTER 4 Candle Charts: Lighting the Path 43 Enlightening charting technique and its colorfully named patterns—hammers, stars, spinning tops, dojis, hanging man, and others—powerful reversal patterns, reliable continuation patterns, key examples in the dollar and bonds CHAPTER 5 Chart Analysis: Volume, Open Interest, Price Patterns 67 Volume and open interest rules for traders, M tops and W bottoms, trend lines, measuring patterns, the head-and-shoulders, triangles, pennants and flags, diamonds, wedges, funnels, gaps, islands, rounded bottoms, oops signals, opening range breakouts CHAPTER 6 Pivot Point Analysis: A Powerful Weapon 93 The pivot point formula for target trading, calculating support and resistance levels, importance of multiple verification from several sources, the P3T trading technique, weekly and monthly charts and numbers, risk management techniques CHAPTER 7 Day-Trading, Swing Trading: Acting on Analysis 113 Trading to bounce off target numbers, calling tops and bottoms, weekly chart magnets, harami cross and other candle clues to market reversals, pivot points save the day, lining up the stars, the verify-verify-verify approach CHAPTER 8 Technical Indicators: Confirming Evidence 135 Moving averages and trends, simple rules with averages, tweaking and visualizing MACD, stochastics, false signals, Gann’s key numbers, Fibonacci ratios and projections, time counts for cycles, Elliott wave and its clues CHAPTER 9 Market Sentiment: What Traders Are Thinking 161 Getting a market consensus from contrary opinion, Commitments of Traders reports, margin rate changes, Market Vane Bullish Consensus report, put-to-call ratios, volatility index (VIX), when the boat is tipping over, media effect CHAPTER 10 Order Placement: Executing the Plan 171 Importance of getting an order right, online platform concerns, impact of market conditions on orders, 14 top order entry selections you need to know, orders in after-hours trading, spreading concepts CHAPTER 11 The Mental Game: Inside the Trader 189 Conquering fear, learning discipline, improving confidence, suggestions for success, I’ll-think-about-it syndrome, the paper trader, fear and greed factors, becoming a specialist, setting up an investment diary, setting a positive mind frame, dealing with adrenaline, establishing goals, positive affirmations, stress relief techniques, rewarding success to build successCHAPTER 12 The Tactical Trader: Tips and Techniques That Work 203 Pyramiding approaches, scale trading, stop reversals, breakouts, momentum trading, the Friday 10:30 a.m. rule, stop placement near a magnet, trading multiple contractsCHAPTER 13 Options: A Primer 217 What options are and how to use them with futures, simple puts and calls, options premiums, the Greeks, comparison shopping, strangles and straddles, eight top option spreads, delta neutral techniques CHAPTER 14 Closing Bell: My Top 10 List 235 What the experts suggest, top 10 trading thoughts, measuring success Glossary 241 Bibliography 253 Index 255

Read more less

Book SynopsisA leading pioneer in the field offers practical applications of this innovative science. Peters describes complex concepts in an easy-to-follow manner for the non-mathematician. He uses fractals, rescaled range analysis and nonlinear dynamical models to explain behavior and understand price movements. These are specific tools employed by chaos scientists to map and measure physical and now, economic phenomena.Table of ContentsFRACTAL TIME SERIES. Failure of the Gaussian Hypothesis. A Fractal Market Hypothesis. FRACTAL (R/S) ANALYSIS. Measuring Memory--The Hurst Process and R/S Analysis. Testing R/S Analysis. Finding Cycles: Periodic and Nonperiodic. APPLYING FRACTAL ANALYSIS. Case Study Methodology. Dow Jones Industrials, 1888-1990: An Ideal Data Set. S&P 500 Tick Data, 1989-1992: Problems with Oversampling. Volatility: A Study in Antipersistence. Problems with Undersampling: Gold and U.K. Inflation. Currencies: A True Hurst Process. FRACTAL NOISE. Fractional Noise and R/S Analysis. Fractal Statistics. Applying Fractal Statistics. NOISY CHAOS. Noisy Chaos and R/S Analysis. Fractal Statistics, Noisy Chaos, and the FMH. Understanding Markets. Appendices. Bibliography. Glossary. Index.

Read more less

Book SynopsisIn recent years, banks have greatly increased their reliance on contingency financing. Shows bankers how to minimize their risk and maximize their profits when dealing in these new markets.Table of ContentsTHE DEVELOPMENT OF CONTINGENT ASSETS. The Risks of Overexposure. Reasons for Growth. CONTINGENT ASSETS DERIVED FROM TRADITIONAL INSTRUMENTS. Standby Letters of Credit. Risk Participations. THE RISE OF NEW PRODUCTS. Swap Transactions. Futures and Options. Equity-Linked Issues. CONTINGENCIES AND THE EUROMARKETS. The Eurocurrency Market. The Eurobond Market. The Euronote Market. ADDRESSING THE RISKS. Proposals for Control and Regulation. Final Conclusions and Recommendations. Index.

Read more less

Book SynopsisGet the most complete guide to running a valuable accounts payable department withAccounts Payable, Second Edition. This updated edition continues where the successful first edition left off, providing all the critical information and guidance top professionals need to run an efficient department, complete with coverage of the innovative issues now facing the field and new material on: Encryption and digital signatures Electronic invoicing Purchase cards Post audit firms Petty cash Vendor fraud Certification . . . and more! Order your copy today! .Table of ContentsPreface xxi Acknowledgments xxiii Part One Processing 1 1 Invoice Handling 3 1.1 Introduction 3 1.2 The Invoice 4 1.3 Purchase Orders 5 1.4 Receiving Documents 6 1.5 Proper Invoice Handling 7 1.6 When Accounts Payable Receives Invoices Last 8 1.7 Entry by Month-End 9 1.8 Timely Approvals 10 1.9 Unidentified Invoices Sent to Accounts Payable 10 1.10 Use Best of Terms 11 1.11 Strategies to Use When Short-Paying Invoices 12 1.12 Goods Improperly Ordered Outside Purchasing 12 1.13 Nonpurchase Order Buying 13 1.14 Encouraging Others to Follow Accounts Payable’s Guidelines 14 1.15 Invoices without Invoice Numbers 14 1.16 Invoice Amnesty Day 14 1.17 Keeping Difficult Invoices from Disappearing 15 1.18 Using Vendor Statements: Theory 16 1.19 Using Statements: Reality 17 1.20 Filing: Batch versus Alpha Filing 18 1.21 Reducing the Number of Invoices 18 1.22 Handling Bills with Remittance Advices 21 2 Alternatives to the Three-Way Match 23 2.1 Introduction 23 2.2 Assumed Receipt 23 2.3 Evaluated Receipt Settlement 25 3 Check Preparation Printing and Filing 33 3.1 Introduction 33 3.2 A More Common Approach 33 3.3 Manual Signatures 33 3.4 Authorized Signers 34 3.5 Proper Check-Signing Procedures and Control 35 3.6 Limiting Time Spent Getting Checks Signed 37 3.7 Mailing versus Picking Up Checks 39 3.8 Check Filing 40 3.9 Time-Saving Techniques in the Check Production Cycle 41 3.10 Canceled Checks and Irate Vendors 43 4 Automated Clearinghouse and Direct Deposit 47 4.1 Introduction 47 4.2 Direct Deposit 47 4.3 Other Common Examples 47 4.4 Combining Electronic Billing And Payments 48 4.5 Terminology 48 4.6 Check Truncation and Check Conversion 49 4.7 What Companies Are Doing Today 49 4.8 Case Study: How One Company Gets Suppliers to Accept ACH Payments 49 4.9 The Future 50 5 Making International Payments 52 5.1 Introduction 52 5.2 Foreign Exchange 53 5.3 Bank Account Issues 53 5.4 Payment Mechanisms 53 5.5 International Payment Service 54 5.6 Benefits of International Payment Services 54 5.7 Payments to NAFTA Partners 55 Part Two Controls 57 6 Exception and Rush Processing 59 6.1 Introduction 59 6.2 Dealing with the Issue 60 6.3 Hard-Line Approach 62 6.4 Identify Rush-Check Troublemakers 62 6.5 Modify Systems and Procedures to Reduce the Need for Rush Checks 63 6.6 Publish a Newsletter 64 7 Errors and Duplicate Payments 67 7.1 Introduction 67 7.2 Statistics 67 7.3 Types of Erroneous Payments 68 7.4 Low-Tech Solutions 68 7.5 High-Tech Solutions 69 7.6 Employees: Your Most Important Resource 69 7.7 Tolerance Levels 70 7.8 Handling Discrepancies 70 7.9 Accuracy and Timeliness 71 7.10 Timing Issues 74 7.11 Eliminating Duplicate Payments without an Auditor 74 7.12 Duplicate Pay Audits: The Future of Accounts Payable and AP Audits 75 8 Paying When the Original Invoice Is Not Available 79 8.1 Introduction 79 8.2 Who Pays from Copies 79 8.3 Controls When Using Copies 80 8.4 Common Techniques to Ensure a Second Payment Will not Be Made 81 8.5 Controls When Paying from Copies 81 9 Master Vendor Files 84 9.1 Introduction 84 9.2 The Data 84 9.3 Cleanup Policies 85 9.4 When to Set Up a New File 85 9.5 Maintenance Policies 86 9.6 Good Master Vendor Policies 86 9.7 Establishing Vendor Naming Conventions 87 9.8 Tips on Setting Up the Master Vendor File 88 9.9 New Vendor Setup 89 9.10 Adjustments, Corrections, and Additions 91 9.11 Maintaining the Master Vendor File 91 Part Three Cash Management 93 10 Terms and Taking Discounts 95 10.1 Introduction 95 10.2 Should the Discount be Taken? 95 10.3 An Ongoing Process 98 10.4 Possible Problems When Paying Late 99 10.5 Are All Possible Discounts Being Taken? 100 10.6 Should You? 101 11 Cash Management 104 11.1 Introduction 104 11.2 Why Discuss Cash Management in Accounts Payable? 104 11.3 Payment Timing 105 11.4 Maximize Float 106 11.5 Purchasing Cards 107 11.6 Bank Fees 107 11.7 ACH Background 107 11.8 ACH: Types of Corporate Payments 108 11.9 Clean-Desk Syndrome 109 11.10 Games Companies Play 110 12 Petty Cash 111 12.1 Introduction 111 12.2 Petty Cash No-Nos 111 12.3 Recommended Procedures 112 12.4 Other Recommended Procedures 113 13 Payment Timing 114 13.1 Introduction 114 13.2 Can Another Day be Squeezed out of Payables? 114 13.3 Timing Payments in Difficult Times 114 13.4 Stretching Vendor Payments 115 13.5 Place Smaller Orders 115 13.6 Talk to Vendors 115 13.7 A Formalized Approach 116 14 Audits and the Outside Accountant’s Management Letter 119 14.1 Introduction 119 14.2 Most Notable Payables Issues 119 14.3 Using This Information 122 14.4 Sarbanes-Oxley Effect 123 Part Four Travel and Entertainment 12515 Handling Travel and Entertainment Reports 127 15.1 Introduction 127 15.2 The Problem 127 15.3 Solutions 128 15.4 How Much Checking Is Enough? 131 15.5 T&E Manual 134 15.6 Policy and Procedures Changes 135 15.7 What About Electronic Receipts? 136 15.8 Faster Employee Reimbursements 137 15.9 E-Tickets 138 16 Handling Electronic T&E Reports 139 16.1 Introduction 139 16.2 Advantages 139 16.3 Homegrown Systems 140 16.4 Third-Party Electronic Software 142 16.5 E-Tickets 142 17 Automating the T&E Report Process 146 17.1 Introduction 146 17.2 Making the Most of Direct Deposit 146 17.3 Spreadsheet Approach 147 17.4 One-Card Intranet-Based Solution 148 17.5 In-House versus Third Party 148 18 Value-Added Tax Refunds 150 18.1 Introduction 150 18.2 What is Vat? 150 18.3 Assistance Available 151 18.4 Vat Reclaim Companies 151 18.5 Time Limitations: Deadlines 151 18.6 Focus on Vat-Friendly Countries 152 18.7 Focus on Vat-Valuable Expenses 152 Part Five Technology 155 19 Electronic Data Interchange 157 19.1 Introduction 157 19.2 What Is EDI? 157 19.3 TECHNICAL Basics: introduction 157 19.4 Why EDI? 158 19.5 Getting Started 160 19.6 Business Infrastructure Requirements 161 19.7 Managing Accounts Payable EDI 162 19.8 Accounts Payable EDI Opportunities 162 19.9 Accounts Payable EDI Success Factors 163 19.10 Systems Requirements 163 19.11 Trading Partner Directory 166 19.12 EDI Standards 166 19.13 Effect on Supplier Partnerships 167 19.14 Convincing Management 167 19.15 FEDI Applications 168 19.16 Cost-Justifying FEDI 168 19.17 Getting Up the EDI Learning Curve 168 19.18 Internet EDI 170 19.19 Web EDI: An Idea Whose Time Has Come 171 19.20 Security and Standards Issues 171 19.21 Why the Internet? 171 19.22 Special Application: ACH Debits for Tax Payments 172 20 Imaging 175 20.1 Introduction 175 20.2 Poor Man’s Imaging 175 20.3 Planning for Full-Scale Imaging 176 20.4 Using Full-Scale Imaging with E-Mail 176 20.5 Imaging on a Smaller Scale 176 20.6 Overview 177 20.7 Imaging in Practice: Growing Pains 179 20.8 Legal Acceptance 180 20.9 Disaster Recovery 180 20.10 Frequently Asked Questions about Imaging 181 20.11 Preparing Documents for Imaging 182 21 The Internet, E-Mail, and E-Invoicing 184 21.1 Introduction 184 21.2 E-Mail 184 21.3 The Internet 185 21.4 Case Study: An Accounts Payable Department Web Site 187 21.5 What to Include on an Accounts Payable Web Page 191 21.6 Electronic Invoicing 191 21.7 Everyday AP uses for the Internet 194 21.8 Case Study: Putting the Web to Work for Accounts Payable 196 22 Encryption and Digital Signatures 200 22.1 Introduction 200 22.2 Basics 200 22.3 Case Study 203 23 E-Marketplaces and XML 206 23.1 Introduction 206 23.2 E-Marketplaces 206 23.3 XML 208 23.4 How Accounts Payable Professionals Can Prepare Themselves 208 23.5 How to Participate in the E-Commerce Revolution 209 Part Six Specialty Topics 211 24 Purchasing Cards 213 24.1 Introduction 213 24.2 What Is a Purchasing Card? 214 24.3 How a Purchasing Card Differs from a Consumer or Corporate Card 214 24.4 Why Use a Purchasing Card? 215 24.5 How Does the Purchasing Card Work within the Company? 215 24.6 Plan Administrator 215 24.7 User Feedback 215 24.8 Vendor Feedback 216 24.9 Control Features 217 24.10 Maximizing Cost Savings 219 24.11 Considering a Program 221 25 Post Audit Firms 223 25.1 Introduction 223 25.2 Why Are Accounts Payable Audit Firms Necessary? 224 25.3 How Post Audit Firms Work 224 25.4 Accounts Payable Benefits 225 25.5 Costs 225 25.6 Getting Money Back 226 25.7 Selecting the Best Profit Recovery Firm 226 25.8 Other Considerations 228 25.9 Reaction to Profit Recovery Firms 228 25.10 Self-Auditing 228 25.11 Self-Auditing for Duplicate Payments 229 25.12 Current State of Duplicate Payment Audit Industry 229 26 Benchmarking 230 26.1 Introduction 230 26.2 What is Benchmarking? 230 26.3 Sources of Benchmarking Data 232 26.4 Benchmarking Applications 232 26.5 Case Study: How to Start or Improve a Benchmarking Program 234 Part Seven Regulatory Issues 239 27 Form 1099 and Form 1042-S 241 27.1 Introduction 241 27.2 Background 241 27.3 Best 1099 Practice 242 27.4 What if the 1099 Is Not Filed? 242 27.5 Who Should Receive a 1099? 243 27.6 Letters Instead of W-9s 244 27.7 B-Notices 244 27.8 Types of Payments Reflected on 1099S 246 27.9 More Help from the IRS 246 27.10 It’s 1099 Time: Changes Implemented in 2002 246 27.11 1042-S 249 28 Sales and Use Tax 250 28.1 Introduction 250 28.2 Defining Sales and Use Tax 250 28.3 Education 251 28.4 Policies and Procedures 252 28.5 Sales and Use Tax Audits 252 28.6 Sales and Use Tax Terminology 254 28.7 Types of Sales and Use Tax 254 28.8 Keeping Up To Date 254 28.9 Use Tax and Nexus 255 28.10 Specialized Software 255 28.11 Additional Learning Opportunities 256 28.12 Help Others Help Accounts Payable 256 28.13 Industry-Specific Sales and Use Tax Advice 259 28.14 Avoiding a Sales and Use Tax Disaster 262 28.15 Conclusion 263 29 Escheatment 264 29.1 Introduction 264 29.2 What Is Escheatment? 264 29.3 What If You Do Not Escheat? 265 29.4 Dilemma 265 29.5 What Can Be Done? 266 29.6 Necessary Documentation 266 29.7 Software Solutions 266 29.8 What Can Accounts Payable Professionals Do? 267 29.9 What If You Have Not Been Escheating? 268 29.10 Professional Organizations for Unclaimed Property Owners 268 29.11 Typical Unclaimed Property Experience 268 29.12 An Unclaimed Property Game Plan 270 Part Eight Management Issues 273 30 Ethics 275 30.1 Introduction 275 30.2 Sections of Sarbanes-Oxley Act Pertinent to Accounts Payable 275 30.3 Cascading Certifications 276 30.4 Sarbanes-Oxley Act: A Case Study 276 30.5 Foreign Payments 278 30.6 Office of Foreign Assets Control 279 30.7 What This Means to Accounts Payable 279 31 Disaster Recovery 281 31.1 Introduction 281 31.2 Personnel Travel Policies 281 31.3 Telephone Trees 282 31.4 Computer Backups 283 31.5 Protecting Paper 283 32 Outsourcing 284 32.1 Introduction 284 32.2 Why Companies Do Not Outsource Accounts Payable 284 32.3 When Outsourcing Makes Sense 284 32.4 Hiring an Outsourcer 285 32.5 Outsourcing: A Case Study 286 33 Management Techniques 289 33.1 Introduction 289 33.2 Six Sigma 289 33.3 Balanced Scorecard 290 Part Nine Department Management 291 34 Making Your Accounts Payable Department First-Rate 293 34.1 Introduction 293 34.2 Typical Accounts Payable Department 293 34.3 Who Runs the Department? 294 34.4 Hiring Practices 294 34.5 How to Assemble an Accounts Payable Dream Team 296 34.6 Procedures Manual 299 34.7 The Impact of Technology on Accounts Payable Departments 301 34.8 Outsourcing 303 35 Managing the Staff 307 35.1 Introduction 307 35.2 Training 307 35.3 Finding Challenging Work for the Staff 310 35.4 Listening Skills 310 35.5 Hiring Staff 312 35.6 Overtime: A Serious Issue 313 35.7 Managing a Unionized Staff 314 36 Staff Motivation and Morale 319 36.1 Introduction 319 36.2 Motivation Techniques 319 36.3 Evaluating Your Motivation Skills 321 36.4 Motivating the Seemingly Unmotivatable 324 36.5 Using the Staff Knowledge as Company Resource 325 36.6 Dealing with Poor-Attitude Problems 325 36.7 Getting the Accounts Payable Staff to Take on More Work 327 36.8 A Realistic Approach to Motivating Accounts Payable Staff 327 36.9 Improving the Image of Accounts Payable 330 37 Working with and for Purchasing and Other Departments 332 37.1 Introduction 332 37.2 Why Interdepartmental Cooperation Is Important 333 37.3 Basic Approaches 333 37.4 Handling the Big Issues 336 37.5 Getting a Customer Service Mentality in Accounts Payable 338 37.6 Quick Answers to Common Problems 341 Part Ten Fraud 345 38 Check Fraud 347 38.1 Introduction 347 38.2 Check Fraud as Growth Industry 347 38.3 Legal Issue of Reasonable Care 348 38.4 Corporate Responsibility 348 38.5 Controls 348 38.6 If Preprinted Check Stock Is Used 349 38.7 Check Security Features 349 38.8 Short-Circuiting the Forger 350 38.9 Taking Reasonable Care 351 38.10 Positive Pay 353 38.11 Reverse Positive Pay 353 38.12 Ongoing Fraud Problems 353 38.13 A Total Fraud Protection Program 354 38.14 Identifying Fraudulent Checks Quickly 354 38.15 Segregation of Duties 355 38.16 Account Reconciliation 355 38.17 Accounts Payable Controls 356 38.18 Payment Pitfalls: What Your Banks May Not Tell You 356 38.19 Laws Covering Check Fraud 358 38.20 Positive Pay: The Next Generation 359 39 Employee Fraud 360 39.1 Introduction 360 39.2 Be Aware of Typical Candidates 360 39.3 What Can Go Wrong 360 39.4 Steps to Prevent Cash Fraud 361 39.5 Exercise Patience 362 39.6 Call in the Professionals 362 39.7 When Fraud has been Identified 363 39.8 Dealing with the Aftermath 364 39.9 Preventing Fraud in the Future 364 40 Vendor Fraud 366 40.1 Introduction 366 40.2 Master Vendor File 366 40.3 Con Artist Vendors 369 40.4 Scam Solutions 371 40.5 Vendor Profile Forms 372 Part Eleven Accounts Payable Today and in the Future 375 41 Professionalism in the Field 377 41.1 Introduction 377 41.2 Evaluating the Big Picture 377 41.3 Leadership and Preparation 378 41.4 Technology 378 41.5 Communication 379 41.6 Relevant Trends 380 41.7 Gaining the Attention of Management 380 41.8 How to Win Approvals on Accounts Payable Proposals 381 41.9 Taking Control of Your Own Destiny 383 41.10 Certification 383 41.11 Conferences 383 41.12 Accounts Payable in the Twenty-First Century 384 42 Salaries and Titles in Accounts Payable Today 386 42.1 Introduction 386 42.2 Basic Data 386 42.3 Bonuses 388 42.4 Education 390 42.5 Effects of Industry and Company Size 390 42.6 Trends 392 42.7 Reevaluating AP Positions for Grade-Level Changes 392 42.8 Titles 393 Appendix Accounts Payable Resources 397 Index 399

Read more less

Book SynopsisThis handy resource provides documented strategies and tactics for accounts payable employed by highly admired companies. Because firms aren't always in a position to employ best practices, this practical book presents A"Almost Best Practices,A" as well as A"Worst Practices,A" which often leave a firm open to criticism and loss.Table of ContentsIntroduction xi Chapter 1 Invoices 1 Invoice Handling: Approvals 1 Forwarding Invoices 6 Verifying Invoice Data 8 Invoice-Coding Standards 11 Short-Paying Invoices 16 Paying Small-Dollar Invoices 19 Handling Unidentified Invoices 21 Handling Invoices without Invoice Numbers 23 Case Study: How One Pro Took Accounts Payable Out of the Picture when Resolving Customer Discrepancies 25 Chapter 2 Checks 29 Check Printing 29 Check Signing 35 Check Stock Storage 40 Distribution of Checks 42 Check Fraud 45 Rush or Emergency Checks 50 Case Study: Information Sheet: Segregation of Duties 54 Chapter 3 Operational 57 Duplicate Payment Avoidance 57 Paying When the Original Invoice Is Missing 61 Limiting Calls to Accounts Payable 63 Petty Cash 65 Supplier Statements 69 Case Study: Expert Demonstrates How to Put the Web to Work for Accounts Payable 71 Chapter 4 Master Vendor File 77 Master Vendor File Setup 77 Using Naming Conventions 81 Making Changes to the Master Vendor File 85 Master Vendor File Cleanup 87 Case Study: Experienced Accounts Payable Pro Shares Master Vendor File Control Secrets 90 Chapter 5 P-Cards 97 Design of the P-Card Program 97 Establishing Procedures 99 Setting Controls 101 Increasing Usage 105 1099s and P-Cards 106 Terms 108 Rebates 110 Case Study: P-Cards Improve Accounts Payable Process at PETsMART, Rock-Tenn, and Rouse 111 Chapter 6 Travel and Entertainment 119 Formal Policy 119 Cash Advances 123 T&E Report Form 125 Verifying Data 127 Handling Receipts 129 Reservations 130 Reimbursing Employees 132 Unused Tickets 133 Case Study: Making the Most of Direct Deposit 134 Case Study: TransUnion’s Successful Low-Tech, Low-Budget T&E Solution 136 Case Study: Follow IBM’s Lead: 21 Steps to an Award-Winning T&E Process 139 Case Study: How Zurich America Developed Its Own Electronic T&E Report 145 Chapter 7 Regulatory Issues 151 1099s 151 Sales and Use Tax 154 Unclaimed Property 156 Case Study: How to Avoid Sales and Use Tax Audit Disasters 159 Case Study: A Typical Company’s Unclaimed Property Experience 162 Chapter 8 Cash Management 167 Taking Early Payment Discounts 167 Payment Status Information for Vendors 170 Bank Accounts and Fraud 172 Other Cash Management–Related Initiatives 174 Case Study: General Electric’s Approach to Electronic Invoicing and Payment Processing 176 Chapter 9 Technology 181 Imaging and Workflow 181 The Internet 185 E-Invoicing 187 Case Study: PPL Electric Offers Lessons on Setting Up an Accounts Payable Imaging Solution 189 Case Study: An Accounts Payable Web Site 194 Case Study: How the Accounts Payable Manager at Merck Overhauled Department Procedures and Technology 199 Chapter 10 Communications/Customer Relations 209 Payment Status Information for Vendors 209 Communicating Relevant Information to Vendors 211 Communicating with Internal Customers 214 Improving the Procure-to-Pay Cycle 217 Case Study: Interactive Voice Response Frees Accounts Payable from Annoying “Where’s My Money” Calls 219 Case Study: How Automated Accounts Payable and Purchasing Systems Mesh at BNSF 222 Index 229

Read more less

Book SynopsisStop Buying Mutual Funds is the book that Bay Street still doesn't want you to read! For years, millions of Canadians have injected billions of dollars into mutual funds in the quest for better returns on their investments.Table of ContentsPreface to the Second Edition. Preface to the First Edition. Acknowledgements. The Top Ten Reasons Why You Shouldn't Buy Mutual Funds. Chapter 1: A Hard Look at Mutual Funds. Fund Companies Have Outperformed the Funds. What's the Big Deal About a 1% Shortfall? Bettering Your Odds. The Discount-Broker Alternative. What the Funds Aren't Telling You. You Can Do It, Too. The Playing Field Is Level. How Do Financial Advisors Make Money? Going It Alone. A Word to the Wise. Chapter 2: Mutual Fund Performance: Why Funds Don't Beat the Market. The Statistics. How Fees Reduce Returns. How Cash Reduces Returns. Why Funds Can't Keep Up. Why Fund Fees Are So High. Are Changes Coming?. Chapter 3: How the Funds Have Really Done. Canadian Equity Mutual Fund Performance. Fund Family Performance. Index Funds. Other Canadian Equity Funds. Low MER Funds. Other Types of Funds . U.S. Equity Funds. International Equity Funds. Bond Funds. Balanced Funds. Mortgage Funds. Chapter 4: Why Stocks and Bonds are Better Than Mutual Funds. Unfair Taxation. The Herd Mentality. Do Your Investments Match Your Ethics? Day Trading. What Are You Learning About Business From Mutual Funds? Information Sources. Annual Reports. Or Show Up in Person. Chapter 5: Self-Directed RRSPs and Non-RRSP Discount Broker Accounts. The Can-Con Rules. It's Your Choice. The Falling Cost of Self-Directed Accounts. RESP Accounts. Buying Stocks Through Discount Brokers. Chapter 6: The Breakdown: What Percent Stocks, What Percent Bonds? What Is a Stock? What Is a Bond? Stock and Bond Yields. Risk. Finding Your Breakdown. RRSP Strategy: What's In, What's Out. Chapter 7: Buy and Hold: The Smartest Approach. Don't Time the Market. Dividend Reinvestment Plans. Why Buy-And-Hold Funds Don't Work. A Time to Sell. Chapter 8: Index Stocks & Funds: Mutual Funds Without the Fees. How Index Stocks Work. i60s and the Nortel Effect. Other Canadian Index Stocks. U.S. Index Stocks. U.S. Mutual Funds vs. the Index. International Index Stocks. Index-Linked GICs. Thoughts on Indexing. Chapter 9: Diversification: Minimizing Risk in Your Portfolio. What Is Diversification? Diversification With Individual Stocks. International Exposure. Diversified Portfolio Strategies. Chapter 10: The TSE 300: Your Guide to a Diversified Canadian Stock Portfolio. Why Buy Individual Stocks?. Your Picks Are As Good As Any Pro's. Getting to Know the TSE 300. Cyclical Stocks. Words to Pick Stocks By. Chapter 11: Putting It All Together: Diversifying Here and Abroad. Going Global: Buying Foreign Stocks. Building a Diversified Canadian Bond Portfolio. Chapter 12: The Gambler. The "Market Timer". Split Shares. Buying "On Margin". Short Selling. Speculative Stocks. Junior Mining Stocks. Options and Futures. Chapter 13: Keeping It Straight: Taxes, Record-Keeping, and Special Situations. Tax and Accounting Tips and Strategies. The Checkup. What Else Should You Check? Special Situations. Chapter 14: Sample Portfolios and Final Thoughts. Appendix. Toronto Stock Exchange 300 Composite Index. Index.

Read more less

Book SynopsisHow can businesses do a better job of attracting capital? The answer: Marketing! Marketing expert Philip Kotler teams up with a renowned marketing consultant and an INSEAD professor for this practical, marketing-based approach to raising capital from investors.Table of ContentsPreface. Part One: INTRODUCTION. 1. Marketing to Investors and Lenders: What the Capital Markets Want. 2. Raising Capital: An Overview of Your Alternatives. Part Two: UNDERSTANDING INVESTORS AND LENDERS. 3. Early-Stage Financing: The Role of Business Angels. 4. Private Equity: Unleashing Your Company’s Potential Value. 5. Lenders: Raising Funds from Banks and Other Financial Institutions. Part Three: TOOLS FOR ATTRACTING AND KEEPING INVESTORS AND LENDERS. 6. Strategy: How to Win Investors’ Mind Share. 7. Tactic: How to Win Investors’ Market Share. 8. Value: How to Win Investors’ Heart Share. Part Four: EPILOGUE. 9. Get Your Marketing Right! Index.

Read more less

Book SynopsisDriving Your Company''s Value: Strategic Benchmarking for Value is a step-by-step book presenting a valuation-oriented methodology that helps companies maximize shareholder value. It offers clear, concise, and concrete methods for management to create and preserve value, complete with case study applications. In an easy-to-read format, it brings together the aspects of the Financial Accounting Standards Boards'' new performance measurements, the balanced scorecard, and the new guidelines on fraud detection and Extensible Business Reporting Language (XBRL). * Identifies the critical decisions that most effectuate growth and value. * Covers the easy and reliable ways to monitor value of an entity. * Demonstrates how management can apportion and allocate resources to achieve the highest value.Table of ContentsPreface. Acknowledgments. Overview. Understanding Value. Free Cash Flow. The Five Dimensions of Value. A Holistic Approach. SBfV or EVA. Return on Equity. Economic Value Added. The SBfV Process. Step 1: Current State. Qualitative Analysis of the Company’s Current State. Analyzing the Industry. Analyzing the Company. Quantitative Analysis of the Company’s Current State. Step 2: Desired Future State. Future State. Core Strategy. Critical Success Factors. Key Performance Indicators. Benchmarking. Step 3: Strategic Benchmarking Keys. How Strategy Alignment Builds Value. Grand Strategy, Strategy, or Tactics? Translating Grand Strategy into Strategy Execution. Grand Strategy Alignment Maps. Alignment Thesis and Value Propositions. Achieving Strategic Alignment. A Strategy Alignment Model That Works—SBfV. Step 4: Alignment Execution. Alignment Execution. Putting it Together. Step 5: Benchmark and Monitor Return on Strategic Effectiveness. Benchmark and Monitor Return on Strategy Execution. Closing. Appendix: Websites of Interest. Index.

Read more less

Book SynopsisExamining the intricacies of real estate investing, this title offers readers with the necessary tools used by financial professionals to evaluate the opportunities in the growing real estate market.Table of ContentsPreface. About the Authors. CHAPTER 1: A Portfolio Approach to Investing in Commercial Real Estate. CHAPTER 2: Interpreting Financial Statements for Successful Real Estate Investing. CHAPTER 3: Depreciation. CHAPTER 4: Business Organizational Forms. CHAPTER 5: Buying versus Leasing. CHAPTER 6: Residential Real Estate. CHAPTER 7: Apartments. CHAPTER 8: Condominiums. CHAPTER 9: Timeshares. CHAPTER 10: Undeveloped Land. CHAPTER 11: Self-Storage Facilities. CHAPTER 12: Restaurant Real Estate. CHAPTER 13: Shopping Centers. CHAPTER 14: Athletic Clubs, Physical Fitness Centers, and Family Entertainment Centers. CHAPTER 15: Office Buildings. CHAPTER 16: Industrial Properties. CHAPTER 17: Parking Lots. CHAPTER 18: Hotels and Motels as Commercial Real Estate Investments. INDEX.

Read more less

Book SynopsisExpert guidance for CPAs who want to become marketing savvy, improve profits, and gain satisfaction This updated Second Edition demonstrates how combining the power of trust with the power of persuasion can help CPAs sell their services more effectively. Each chapter develops a key concept of marketing or selling that''s easy to follow and shows how to apply the concepts to any CPA practice. Through a step-by-step approach to developing and mastering a stronger marketing and sales presence, this book focuses on how to dramatically enhance the reader''s growth potential. It presents real-world examples from top CPA rainmakers and other marketing and management gurus, including Tom Peters. This updated second edition offers interviews covering Sarbanes-Oxley and the new accounting rules. Troy Waugh, CPA (Nashville, TN), is founder, President, and CEO of The Rainmaker Academy, a comprehensive three-year leadership, client service, and practice development training program for Table of ContentsPreface. Acknowledgments. Part One: Better Selling Starts with You. Day 1: A Nontraditional Attitude. Day 2: Selling Is a Learned Skill. Day 3: Start a Consistent Marketing Program. Day 4: Mind Share _ Market Share. Day 5: Selling Takes Time. Part Two: Target Better Clients. Day 6: Leads, Leads, Leads. Day 7: Focus on “10s”. Day 8: Marketing with Permission. Day 9: Referrals Are Nuclear Power. Day 10: Get Your Net Working. Day 11: Managing Your Network. Day 12: Co-opetition: Partnering for Better Business. Part Three: Better Selling Helps Your Clients. Day 13: Opportunity in the New Rules. Day 14: Marketing and Sales Work Together. Day 15: Selling Services Is Different. Day 16: It’s All About Communication. Day 17: Power Sellers in the Accounting Industry. Part Four: Power Tools for Better Selling. Day 18: Newsletters Communicate to Sell. Day 19: Speaking Attracts More Clients and Referrals. Day 20: Advertising, Publicity, and Brochures. Day 21: Online Marketing and Technology Consulting. Day 22: Working with the Professionals. Part Five: All Selling Is Personal Selling. Day 23: Listening for Dollars, Talking for Dimes. Day 24: Advancing Commitment. Day 25: Focus: Building a Power Niche. Day 26: Selling Value, Not Discounts. Day 27: Your Differences Will Handle Objections. Day 28: Pricing to Maximize Value. Part Six: Extend Your Profits. Day 29: Keeping Clients Sold: Service after the Sale. Day 30: Clients Come Second: Five-Star Service. Day 31: Invest First, Then Reap Powerful Profits. Notes. Bibliography. Index.

Read more less

Book SynopsisDiscover a practical trading strategy that combines options and ETFs. Create Your Own Hedge Fund explains how exchange-traded funds can be used in conjunction with an options strategy to attain steady growth. Beginning with a tutorial on options and ETFs, the book goes on to describe both investment approaches in great detail providing you with a trading strategy that generates higher returns than buy-and-hold investing -- and allows you to reduce risk by adopting a hedging strategy. Filled with in-depth insights and expert advice, this book is intended for you if you''re a sophisticated individual investor or a professional investor, trader, or other money manager looking to update your arsenal of investment tools. Order your copy today!Table of ContentsAcknowledgments. Preface. PART I: Outperforming the Market. CHAPTER 1: Modern Portfolio Theory. CHAPTER 2: Can You Beat the Market? Should You Try? CHAPTER 3: Hedge Funds. PART II: Exchange Traded Funds. CHAPTER 4: A Brief History of Mutual Funds and Exchange Traded Funds. CHAPTER 5: Traditional Mutual Funds. CHAPTER 6: Exchange Traded Funds. PART III: Options. CHAPTER 7: What Is an Option and How Does an Option Work? CHAPTER 8: More Options Basics. CHAPTER 9: Why Investors Buy and Sell Options. CHAPTER 10: Option Strategies You Can Use to Make Money: Covered Call Writing. CHAPTER 11: Option Strategies You Can Use to Make Money: Uncovered Put Writing. CHAPTER 12: Historical Data: BuyWrite Index and Volatility Index. PART IV: Putting It All Together. CHAPTER 13: Building a Portfolio. CHAPTER 14: Finding Your Style: Choosing an Option to Write. CHAPTER 15: Covered Call Writing in Action: A Year of Trading. CHAPTER 16: Uncovered Put Writing in Action. CHAPTER 17: Odds and Ends and Conclusion. Notes. Glossary. Index.

Read more less