This book addresses a selection of major topics in family businesses, namely 'managerialization' and 'professionalization', succession, internationalization, access to financial markets, and how governance and control systems can help family firms respond to common problems inherent in the business. Written by prominent experts, the respective chapters highlight the interactions between these topics in order to develop a systems view of the distinctive challenges, and of the potential roles that governance and control systems can play in these contexts. The book is divided into two main parts, the first of which reviews the current literature and develops a comprehensive theoretical framework. Based on these theoretical insights, the second part then interprets and discusses the empirical evidence, including case studies on family-run firms in Italy.

The process of globalisation in world markets, and the growing number of enterprises competing with one another in terms of the products and services they offer, naturally leads to the improved efficiency of management systems. Efficiency is required in order for these entities to maintain competitiveness. To assess the efficiency of their management systems, enterprises use quality cost calculation. This book fills the research gap concerned with the scientific study of the quality cost calculation, with regard to service companies. It offers the authors' concept of using the cost of quality calculation as a tool for assessing the efficiency of the management systems of service companies. The book consists of six chapters that present both a theoretical and an empirical part. In the theoretical part, the following issues are discussed: quality costs; the evolution of quality cost calculation; quality cost calculation models and their applications to date; and the specific way in which service companies operate. The practical part presents the authors' model of quality cost calculation along with the adopted assumptions and cost structure, as well as the research methodology and verification of the use of the developed model in a selected service company. The research gives credence to the role and importance of this tool in economic practice. The book will be desired reading by both theoreticians and practitioners of quality management and accounting. It is also a valuable resource for master's and doctoral students wishing to broaden their knowledge of quality costs and their calculation in the fields of economics and management. The Open Access version of this book, available at http://www.taylorfrancis.com, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 4.0 license.

* "How to provide adequate and equal funds to meet the increasing demand of higher education" is of great interest to scholars and policymakers both from China and abroad * The basic methods in forecasting higher education finance can be used in similar analysis in other countries * Covers teaching grant and research grant in higher education finance, and the idea of setting non-competitive search grant from teachers is novel in many ways * Researches Chinese higher education's recent development from a financial perspective

This book reveals how to create efficient institutions and coordinate policy on a transnational scale to ensure that European Union integration can best meet social needs. It offers a combined technocratic and humanist perspective on the discussion of public financial management. The state, as part of its public policy, should seek to preserve our social and environmental values, yet there are mounting imbalances in society which point to the growing role of the state in minimising them. Under such circumstances, it is worth reflecting on how new challenges could require updated, more complex formulas, to deal with crises in current times and for social and economic policy making by states and the European Union generally, which would ensure their compatibility with the world financial markets. The work offers an in-depth and unique performance analysis of European Union institutions compared to the national entities of EU Member States. It contributes to the ongoing debate on global public goods and the processes involved in managing their provision. Further, it discusses public finance management instruments, indicating their historical evolution in practice and their effectiveness measured with the Human Development Index. The author presents a proposal of how to manage global, European and national public goods across three areas: environmental protection, transnational infrastructure projects and social policy. The book analyses public financial management instruments used during the recent pandemic, making a distinction between "regular" and "emergency" instruments and assessing their effectiveness in specific economic situations. This will be of interest to researchers and students of economics and finance, as well as decision makers and practitioners from governments, international organisations and specific non-governmental organisations concerned with issues of public finance management.

This book addresses the growing interest among policymakers, practitioners and academics in the evolution and the future implications of social, environmental and sustainability accounting. To do so, it examines the conceptual and practical application of accountability at multiple levels and contexts, and presents a range of case studies focusing on salient issues, perspectives and the potential of multidimensional accounting and reporting regimes. Intended for a diverse audience, the book allows readers to gain a better understanding of the topics, encourages dialogue and debate, and stimulates innovation in scholarship, policy and practice.

In 2014, the U. S. government adopted a new quarterly statistic called gross output (GO), the most significance advance in national income accounting since gross domestic product (GDP) was developed in the 1940s. The announcement came as a triumph for Mark Skousen, who advocated GO nearly 25 years ago as an essential macroeconomic tool and a better way to measure the economy and the business cycle. Now it has become an official statistic issued quarterly by the Bureau of Economic Analysis at the U. S. Department of Commerce. In this new revised edition of Structure of Production, Skousen shows why GO is a more accurate and comprehensive measure of the economy because it includes business-to-business transactions that move the supply chain along to final use. (GDP measures the value of finished goods and services only, and omits B-to-B activity.) GO is an attempt to measure spending at all stages of production. Using GO, Skousen demonstrates that the supply-side of the business spending is far more important than consumer spending, is more consistent with economic growth theory, and a better measure of the business cycle.

Recognizing rapidly ageing population is one key concern faced by cities and the challenge it would present to healthcare system, this book looks at ageing in China's population as well as the delivery and financing of long-term care (LTC) in China. The book compares key features of long-term care insurance (LTCI) schemes in 15 pilot cities and evaluates the sustainability of various financing models adopted by the cities in the LTCI schemes. The book uses an interpretive case study approach to give an in-depth look into the LTC models in three pilot cities - Qingdao, Nantong, and Shanghai. The three cities represent three different models of financing and delivering LTC. To assess how effective the LTC models in these three cities are, the book uses five criteria, including utilization of medical resources, cost, equity, quality of care and sustainability. Also, the authors discuss how the financing and delivery of LTC can be improved in China, the impact of the 2019 coronavirus (COVID-19) pandemic on older adults in need of LTC in the country and the implications of China's LTCI reform for other countries. The book will be a useful reference to scholars and policy-makers who look at urban ageing and healthcare costs and delivery.

This book provides step by step directions for organizations to adopt a security and compliance related architecture according to mandatory legal provisions and standards prescribed for their industry, as well as the methodology to maintain the compliances. It sets a unique mechanism for monitoring controls and a dashboard to maintain the level of compliances. It aims at integration and automation to reduce the fatigue of frequent compliance audits and build a standard baseline of controls to comply with the applicable standards and regulations to which the organization is subject. It is a perfect reference book for professionals in the field of IT governance, risk management, and compliance. The book also illustrates the concepts with charts, checklists, and flow diagrams to enable management to map controls with compliances.

This textbook takes on a systematic approach to elaborating on the different subjects within corporate finance. The chapters bring together existing concepts with examples and stories that allow students to easily understand and apply financial tools. In doing so, the book strives to clarify misconceptions in the literature on topics related to firm’s ownership and control, problems of the Modigliani-Miller first and second propositions, relationship between options and corporate finance, behavioral finance versus corporate finance, etc.   The book takes into consideration the growing importance of the Asian economy and financial markets in recent years, and constructs the P-index to measure and compare the risk structures of US and China’s stocks and stock indexes.   This book is a primary text written for the introductory courses in corporate finance at the M.B.A. level and for the intermediate courses in undergraduate programs, but can also be of great use to Ph.D. students as well as professionals.

Spending on M&A has, in aggregate, grown so fast that it has even overtaken capital expenditure on increasing and maintaining physical assets. Yet McKinsey, the leading management consultancy, reports that "Anyone who has researched merger success rates knows that roughly 70% fail". The idea that businesses might be using huge and increasing sums of shareholders' money for an activity that more often than not leads to failure calls into question the information on which M&A decisions are based. This book presents statistical studies, case material, and standard-setters' opinions on company accounting before, during, and after M&A. It documents the manipulation of annual accounts by acquirers ahead of share for share bids, biased forecasts of post-merger earnings by bidders, and devices to flatter earnings when recording the deal. It explores the challenges for standard-setters in regulating information flows during and after M&A, and for account-users wishing to learn from financial statements how a deal has affected performance. Drawing on a wide range of international examples, this readable book is targeted not just at accounting specialists but at anyone who is comfortable reading the serious financial press, is intrigued by what is going on in the massive M&A market, and is concerned with achieving better-informed M&A. As such it might be of particular interest to business executives, lawyers, bankers, and investors involved in M&A as well as graduate students interested in researching or learning about the role of accounting in M&A.

Essential guidance on the new fair value rules for accounting managers, auditors, and fraud investigators

Fair Value accounting is emerging as the next prime opportunity for financial statement fraud. Explaining the many complex applications of fair value accounting in the preparation of financial statements, "Fair Value Accounting Fraud" offers timely guidance on an up-and-coming issue as U.S. and international accounting rules pertaining to the use of fair value accounting continue to change.

You'll find discussion of
U.S. GAAP and IFRS rules on fair value accounting issues, highlighting the areas most vulnerable to fraudExplanations of 75 categories of fair value accounting fraud schemesFraud risk checklist that you can put to immediate usePractical detection techniques useful for auditors, investigators and others who rely on financial statementsExpert advice from Gerard Zack, CFE, CPA, author of "Fraud and Abuse in Nonprofit Organizations: A Guide to Prevention and Detection"

Comparing US accounting standards to International Financial Reporting Standards-thereby making this book useful worldwide- "Fair Value Accounting Fraud" helps you understand the new rules and develop new auditing and investigative techniques to enable you to detect potential fraud.

Starting with the first "scientific" economists such as Cantillon (1755) and Quesnay (1758) and ending with Piketty (2019), this book explores the treatment of the concept of capital in the history of accounting and economic thought. The work provides a rare juxtaposition of the reasoning, discourse and writings of accountants and economists. With regard to 'capital', this approach highlights the ongoing struggle between these "uncongenial twins" - as Kenneth Boulding put it - for primacy in analysing, and utilising, capitalism. But if they are certainly "uncongenial", the book also argues that it is wrong to ever classify these two disciplines as "twins" because they have taken very different paths ever since scientism came to dominate in economics and ethical and moral considerations were put to one side. This book will be of significant interest to readers to history of economic thought, critical accounting and heterodox economics.

This series arose out of the belief that the international accounting literature should devote more attention to the study of the accounting problems and issues of emerging economies (developing and newly industrialized countries).
Through an increasing awareness of the real issues and the accounting practices advocated in it, these works have become relevant to the actual needs of its readers, and is making real contributions to the accounting development process of emerging economies.
The volumes presented aim to:
*Raise the level of interest in the specific problems of accounting in emerging economies
*Increase awareness of real issues, so that accounting in these countries will not just be seen as a matter of copying what is done in the industrialized countries
*Provides an authoritative overview of the research and progress in this field

This volume describes the development of accounting thought during the twentieth century by focusing on a relatively narrow and long-lived issue, income smoothing.
The task begins with the creation and description of three taxonomies of income smoothing literature in order to identify the context and bounds of the preferences and behavior that are to be the subject of the study. Then a chronological review of English-language literature referring to income smoothing behavior is conducted that covers the period, 1893 through 1998. The review starts with literature discussing secret reserves created so that fat years could pay for lean years and moves to income smoothing as a criterion for accounting choice.
This literature on the smoothing criterion provided motivation for some of the earliest modern empirical studies in accounting. Empirical studies of smoothing have continued at a fairly constant rate since 1966 and make up a substantial portion of the literature review. A modification of the conventional smoothing hypothesis is proposed at the conclusion of the narrative that takes into account some relevant variables that tend to be overlooked because of the fragmentation of the literature. An extensive annotated bibliography and other appendices provide important supplements to the narrative.

Intended as a successor to Monetary Policy and Credit Control (Croom Helm, 1978; Routledge Revivals, 2013), this book, first published in 1982 with a revised edition in 1984, traces the changes in approach to monetary control in the U.K. throughout the 1970s, and the consequences for policy and the British economy. The book considers the widely-publicised proposals for 'reserve base' or 'monetary base' control of the financial system, including a critique of the 1980 Bank of England Green Paper. David Gowland concludes with an analysis of the 1979 Conservative Government's monetary policy. This is a very interesting title, of great relevance to students and academics researching recent British economic history and varying governmental approaches to monetary policy.

In the past China's capital market featured prevalent state ownership and a weak legal environment. It has, however, achieved very substantial development in the past two decades. China has surpassed Japan as the world's second-largest stock market and has also emerged as a leading player in green bonds and Fintech markets. The chapters in this book provide insights on Chinese listed firms and advance the understanding of China's unique institutions. Some important questions are covered including the governance role of foreign investors in partially privatized firms, the financial implications of political connections, the "Chinese model" of commercial banks and regulatory reforms that promote the marketization of the stock markets, among others. These studies have important implications for other emerging economies, on the recent China-US trade conflicts and about the Trump administration's complaints about the role of the Chinese government in capital markets. This book selectively includes the most influential articles from two special issues of The European Journal of Finance, which were based on selections of papers presented at a series of conferences on the Chinese Capital Markets.

This volume brings together a series of key articles concerning the major accounting jurisdictions within Europe. The articles cover the evolution of financial reporting in various countries and deal with features of their accounting environment which distinguish them from other jurisdictions. It is a unique collection of material which will be an essential aid for students and researchers in comparative international reporting.

This book addresses the important role of communication within the context of performing an audit, project, or review (i.e., planning, detailed testing, and reporting). Intended for audit, information security, enterprise, and operational risk professionals at all levels, including those just starting out, Say What!? Communicate with Tact and Impact: What to Say to Get Results at Any Point in an Audit contains an array of practical and time-tested approaches that foster efficient and effective communication at any point during an engagement. The practical and memorable techniques are culled from author Ann M. Butera's CRP experience as a trusted advisor who has taught thousands of professionals how to develop and hone their interpersonal, communication, and empathic skills. Those familiar with the Five Tier Competency ModelTM she developed will recognize these techniques as a deep dive on the competencies comprising Tier 3: Project Management and Tier 5: Managing Constituent Relations. The author discusses the following behaviors in one's dealings with executives, process owners, control performers, and colleagues: Demonstrating executive presence Becoming the trusted advisor Influencing others Communicating with tact, confidence, and impact Facilitating productive meetings and discussions Overcoming resistance and objections Managing and resolving conflict Knowing when to let a topic go and move on This book is a guide for professionals who want to interact proactively and persuasively with those they work with, audit, or review. It describes techniques that can be used during virtual, in-person, telephone, or video conferences (as opposed to emails, workpapers, and reports). It provides everyone (newer associates in particular) with the interpersonal skills needed to (1) develop and build relationships with their internal constituents and clients, (2) facilitate conversations and discussions before and during meetings, and (3) handle impromptu questions with confidence and executive presence and make positive first impressions. The topics and techniques discussed are accompanied by case studies, examples, and exercises to give the readers the opportunity to develop plans to bridge the gap between theory and practice. The readers can use the book as a reliable resource when subject matter experts or training guides are not readily available.

This book, first published in 1988, studies the changes in selected annual corporate financial reporting practices in Canada from 1900 to 1970, and examines the background and processes that have influenced such changes. Knowledge of how financial reporting practices evolved and what influenced their evolution is key to understanding current financial reporting and in influencing further change.

This book, first published in 1988, analyses the history of auditing with as much objectivity as possible. These chapters reveal the importance of auditing in society generally and business activity particularly. The character of the auditor is examined, and their part in history as their role developed from an amateur status to a professional one. The development of the accounting profession is a significant part of the history of auditing. The emerging professional bodies assumed a societal role and by doing so, the audit function changed in terms of its aims and practices, and became a matter of public as well as private concern.

This book, first published in 1988, reassesses the data on Church - accountant, manager and industrial engineer - and stresses the theoretical impact of his ideas upon contemporary business structures as well as his practical desire to implement concepts to better the working man's day. The past impact of engineers and engineering concepts on accounting and management has previously been overlooked, and this book corrects this. The discussion herein may inspire a much-needed dialogue among engineers, accountants and managers.

This book, first published in 1771 and reissued in 1984, is a fascinating insight into the history of accounting. Written by a London accountant ('accomptant') in 1771, it examines the profession as it was in the eighteenth century. It looks at the system of book-keeping, the banking business, and double entry book-keeping for manufacturers.

This book, first published in 1986, is a celebration of Scottish accounting influence and tradition. The essays are critical contributions to the study of accounting history, split into two main sections: the development of accounting thought and practice prior to the emergence of a regulated accountancy profession; and the problems faced in the first 70 years of the accountancy profession.

This book, first published in 1984, reprints the important texts The General Principles of the Science of Accounts (1901) and The Accountancy of Investment (1904) in one single volume. Charles Sprague pioneered the development of accounting theory in the United States, and his work is key in the study of the history of accounting and its development.

This book, first published in 1989, contains reprints of the early periodical on accounting, The Book-Keeper. It dealt with 'historical reviews of methods and systems in all ages and by all nations. Elucidations of accounts, introducing new and simplified features of accounting. Problems from the counting-room discussed and explained. Instructive notes upon plans and methods of book-keeping in every department of trade, commerce and industry.' The journal is a primary source for students interested in the history of accounting.