In recent years, real estate investment has witnessed an unprecedented internationalisation. However, national markets largely continue to be shaped by domestic law and local business practices. This book provides a comparison of the British and German property markets, which are Europe's most important, and discusses key elements of the economics of leasing. Applying the theory of long-term contracts and the economic analysis of bankruptcy law to leases, it examines in detail the regulations pertaining to rent adjustment and tenant default, which can substantially impact investment performance. The prevailing rent adjustment mechanisms such as rent review and indexation are discussed. A comparison is made of the remedies available to landlords of defaulting tenants under both jurisdictions.

Praise for "Beyond Sarbanes-Oxley Compliance"

"Many public company executives have struggled with the practical implications of SOX for both themselves and their businesses. This book demystifies compliance with straightforward advice that serves as a clear road map to building compliance capability, in year one and beyond."
--Francis Aquila, Partner, Sullivan & Cromwell LLP

"Sarbanes-Oxley compliance is an unchartered territory for even an experienced finance executive. Anne Marchetti's book serves as a practical, insightful guide through complex Act requirements, both at initial and ongoing phases. It brings clarity and focus to compliance."
--Mark Kurtz, CAO, Haights Cross Communications

Now that your company has undergone the greatest initial challenge of the Sarbanes-Oxley Act--Section 404 compliance--what's next? Designed to lead financial managers from initial compliance with the Act, through ongoing maintenance and monitoring, Beyond Sarbanes-Oxley Compliance helps you seize this opportunity to revitalize your business practice, drive greater performance, and transform your finance organization into a key contributor to the business.

Focusing on the present and future financial road ahead, Beyond Sarbanes-Oxley Compliance explores: How to implement enterprise risk management processes that comply with Sarbanes-Oxley 302/404/409 requirements Ways to build on initial compliance activities that will improve financial management processes and profitability Compliance and quarterly close checklists, timelines, and table summaries to help you achieve your goals And much more

This volume takes readers inside the high-stakes game of public-private partnerships for major league sports facilities, explaining why some cities made better deals than others, assessing the best practices and common pitfalls in deal structuring and facility leases, as well as highlighting important differences across markets, leagues, facility types, public actors, subsidy delivery mechanisms, and urban development aspirations. It concludes with speculations about the next round of facility replacement amidst rapid changes in broadcast technology, shrinking domestic audiences, and the globalization of sport.

John Cammack presents practical ways to build financial management capacity in an international development context. It is written for (NGOs), larger community-based organizations (CBOs), and charities. It provides challenging questions, both for their own organization and for the way in which they work with others.

A practical guide to the ABCs of ABB

This unique resource takes an in-depth look at creating value through activity-based budgeting (ABB). As most organizations are dissatisfied with some aspects of their performance, ABB has become an increasingly popular process for which many companies are abandoning traditional methods that no longer meet their demands. Emphasizing the importance of budgeting by activities and features rather than by cost elements, Driving Value Using Activity-Based Budgeting offers a complete overview of feature costing, a technique used in conjunction with ABB, as well as the underlying principles of ABB, including linking strategy to activities, forecasting revenue, capacity management, and gap analysis. With numerous examples and case studies, it shows how to use state-of-the-art tools for achieving strategic goals, such as customer survey, core competency analysis, benchmarking, house of activities, reverse engineering to cascade strategy so everyone can act to create value for the organization.

In today's highly pressurized business environment, creating value is the number one priority for organizations. The key to achieving this is having a budget and accounting system that supports long-term goals. More and more organizations are now turning to activity-based budgeting (ABB), an innovative approach that can help organizations become more competitive by linking the budgeting process to organization strategy. Explaining the importance of budgeting by activities rather than by cost elements, this groundbreaking resource—the first book of its kind—is a practical how-to that covers the essentials of Driving Value Using Activity-Based Budgeting.

Beginning with an overview of the fundamentals behind driving value, James Brimson and John Antos examine what exactly value is, how it is created, and why traditional planning and budgeting often lead to the destruction of value. Following a clear outline of the problems posed by the traditional budgeting process, the authors go on to explain that many companies have contemplated abandoning it altogether. In doing so, however, they must set performance targets and identify actions to achieve the targets: "Once those actions are implemented, there is a need to monitor the execution. Therefore, to drive value creation, organizations are implementing activity-based budgeting (ABB)." This comprehensive guide offers in-depth coverage of ABB and feature costing, a technique used in conjunction with ABB. ABB creates value by translating the business strategy into the activities necessary to implement that strategy. Feature costing creates value by understanding sources of product and customer variation and relating this variation to expected workload. Along with the benefits of using ABB and feature costing, Driving Value Using Activity-Based Budgeting addresses such essential topics as:

• Translating strategy into a process and activity framework—performing activities and cross-functional processes that support strategy and assessing current performance against strategic goals
• Forecasting revenue, volume, and workload—customer demographics and needs, the competition exploding a bill of activities, determining workload for special projects
• Capacity management—capacity defined, managing capacity, capacity management methodology, handling excess capacity
• Getting started—creating a business process budget, budget review panels, rank and select activities, cost budgeted activities

Filled with numerous examples and case studies, a complete glossary, and an appendix of target-setting techniques, this is must reading for everyone in your organization since all participants must continually ask themselves how they create value.

This book examines women's financial activity from the early days of the stock market in eighteenth century England and the South Sea Bubble to the mid-twentieth century. The essays demonstrate how many women managed their own finances despite legal and social restrictions and show that women were neither helpless, incompetent and risk-averse, nor were they unduly cautious and conservative. Rather, many women learnt about money and made themselves effective and engaged managers of the funds at their disposal. The essays focus on Britain, from eighteenth-century London, to the expansion of British financial markets of the nineteenth century, with comparative essays dealing with the US, Italy, Sweden and Japan. Hitherto, writing about women and money has been restricted to their management of household finances or their activities as small business women. This book examines the clear evidence of women's active engagement in financial matters, much neglected in historical literature, especially women's management of capital. .

The world has moved on in the advanced economies where credit based financial systems coupled with malleable accounting systems disconnect capitalization and wealth accumulation from GDP trajectories and financial surplus. This, the book argues, is the product of economic, financial and cultural imperatives that privilege and encourage financial leverage for wealth accumulation.

This text re-works business models for a financialized world and presents a distinctive insight into the way in which national, corporate and focal firm business models have adapted and evolved. It also shows how, in the current financial crisis, financial disturbances can be amplified, transmitted and made porous, by accounting systems, threatening economic stability. By making visible the tensions and contradictions embedded in this process of economic development, the authors have constructed a loose business model conceptual framework that is also grounded in accounting.

This is a valuable resource for practitioners, academics and policy makers with an interest in management, accounting and economic policy.

David Samuels, a leading authority on financial models in healthcare, draws on his multidisciplinary background in all aspects of managed care to provide an expansive yet detailed perspective of this complex field. Grounded in evidence-based modeling, the book's multidisciplinary focus puts the spotlight on core concepts from the standpoints of health plans, hospitals, physician practice, and their respective integrated network models. You'll learn what happened when a country's national health care plan is developed with problematic underwriting, why hospitals will always be victimized at their payer's bargaining table, and even how to improve the current primary care shortage at both 50% less provider costs as well as with triple their members' compliance in wellness care. The book gives you the critical tools to stay ahead of the learning curve, engage patients to take responsibility for their own and their family's health status, and improve your differentiation in a RAPIDLY changing marketplace.

This book addresses the lack of academic and practical research into corporate venturing by examining the role of this activity as both a form of large firm-small firm collaboration and as an alternative source of equity finance for small firms. These issues are explored through surveys of independent fund managers, coporate executives and technology-based firm directors.

Every futures, options, and stock markets trader operates under a set of highly suspect rules and assumptions. Are you risking your career on yours? Exceptionally clear and easy to use, The Mathematics of Money Management substitutes precise mathematical modeling for the subjective decision-making processes many traders and serious investors depend on. Step-by-step, it unveils powerful strategies for creating and using key money management formulas—based on the rules of probability and modern portfolio theory—that maximizes the potential gains for the level of risk you are assuming. With them, you’ll determine the payoffs and consequences of any potential trading decision and obtain the highest potential growth for your specified level of risk. You’ll quickly decide: What markets to trade in and at what quantities When to add or subtract funds from an account How to reinvest trading profits for maximum yield The Mathematics of Money Management provides the missing element in modern portfolio theory that weds optimal f to the optimal portfolio.

Cost-benefit analysis (CBA) is the systematic and analytical process of comparing benefits and costs in evaluating the desirability of a project or programme, often of a social nature and for society as a whole. CBA is fundamental to government decision-making and can be an effective tool for informed decisions on the use of society's scarce resources. This book highlights the main concepts and principles of cost-benefit analysis used in real life cases and actual applications. The book contains rich cases, materials and examples of real life CBA applications with emphasis both on physical and non-physical projects and infrastructure developments in Asia and beyond. The book also discusses techniques frequently used in applied CBA.

The first part of the book introduces the key concepts and principles of CBA before Part Two covers some pertinent issues relating to CBA, such as the recent trend of using behavioural economics and frequently used techniques in applied CBA. Finally, in Part Three, case studies are written up to illustrate how CBA is done, and questions for the readers and students to ponder are raised at the end of each chapter.

The scope of the case studies is more than just physical infrastructures but will include public sector policies and programmes covering a host of social policies as in health, education, social welfare programmes, and the environment. For each case, there will be illustrations of the key concepts and principles of CBA used. Undertakings analyzed include:

• the Three Gorges Dam in China
• the 2008 Beijing Olympics
• the Costs of Global Warming
• the Jamuna Bridge in Bangladesh

The case studies, many of which have taken or are to take place in developing countries provide a rich background to the principles of the method, and are accompanied by a wealth of explanatory material. As well as being suitable for courses in Cost-Benefit Analysis, Public Finance, Environmental and Health Economics, the book should be of interest to all public policy decision makers and planners.

Find out what your early stage business is really worth--and what you can do to increase its value even more

One of the most misconstrued concepts in business today, valuation has also rapidly become one of the most important for business owners in today's unpredictable financial atmosphere.

An experiential and practical guide drawn from author and valuation expert Neil Beaton's fifteen years of focused start-up work, "Valuing" "Early Stage and Venture-Backed Companies" equips you with a solid foundation of the ins and outs of early stage and venture-backed valuations--no matter what your field.

This step-by-step guide offers contributions from top valuation practitioners, walking you through:

New techniques for applying options methods

The pros and cons of the option pricing model

Early stage preferred stock rights

Applicable discounts for early stage companies

New procedures for implementing the probability-weighted expected returns method

Valuation theory, the consensus view on application, and the tools to apply them

The popular and widely used AICPA Practice Aid, Valuation of Privately-Held Company Equity Securities Issued as Compensation

"Valuing Early Stage and Venture-Backed Companies" replaces bewildering computations with technical expertise to help you figure out what your business is really worth, and how you can increase that value starting today.

Cost-benefit analysis (CBA) is the systematic and analytical process of comparing benefits and costs in evaluating the desirability of a project or programme, often of a social nature and for society as a whole. CBA is fundamental to government decision-making and can be an effective tool for informed decisions on the use of society's scarce resources. This book highlights the main concepts and principles of cost-benefit analysis used in real life cases and actual applications. The book contains rich cases, materials and examples of real life CBA applications with emphasis both on physical and non-physical projects and infrastructure developments in Asia and beyond. The book also discusses techniques frequently used in applied CBA.

The first part of the book introduces the key concepts and principles of CBA before Part Two covers some pertinent issues relating to CBA, such as the recent trend of using behavioural economics and frequently used techniques in applied CBA. Finally, in Part Three, case studies are written up to illustrate how CBA is done, and questions for the readers and students to ponder are raised at the end of each chapter.

The scope of the case studies is more than just physical infrastructures but will include public sector policies and programmes covering a host of social policies as in health, education, social welfare programmes, and the environment. For each case, there will be illustrations of the key concepts and principles of CBA used. Undertakings analyzed include:

• the Three Gorges Dam in China
• the 2008 Beijing Olympics
• the Costs of Global Warming
• the Jamuna Bridge in Bangladesh

The case studies, many of which have taken or are to take place in developing countries provide a rich background to the principles of the method, and are accompanied by a wealth of explanatory material. As well as being suitable for courses in Cost-Benefit Analysis, Public Finance, Environmental and Health Economics, the book should be of interest to all public policy decision makers and planners.

Moving beyond the strategies that managers have employed to create shareholder value -- now the standard for business performance -- management experts James McTaggart, Peter Kontes, and Michael Mankins reveal their powerful new framework for the systematic, day-to-day management of shareholder value. The authors attack head-on the fundamental weaknesses in current management practices, namely, the stranglehold that budgeting has over strategic planning and the lack of imagination in management plans that prevents real changes and consequences. They provide a systematic approach to "value based management" that eliminates these weaknesses, offering proven strategies for managing large, complex companies to consistently produce superior results for stockholders.

Building on more than 16 years of consulting experience with many of the largest and best-known companies in North America, Europe, and Australia, the authors delineate the fundamental principles of value creation, as well as the primary obstacles. Starting with the principle that "cash flows drive value," McTaggart, Kontes, and Mankins show how to create a single governing objective that will enable managers to make decisions most likely to increase the company's competitive, organizational, and financial strength. Building on the objective of maximizing shareholder value, they outline the value based management framework that directly links a company's strategies and organization to its value in capital markets. Using real-world examples, they describe how to develop business and corporate strategies that substantially improve competitive position and increase market value, often within only two to five years. And as most large companies lack the internal processes necessary to manage for value on a sustained basis, the authors show managers how to build the five key processes that are institutional value drivers: governance, strategic planning, resource allocation, performance management, and top management compensation. Mastering these capabilities is fundamental to the ongoing, consistent creation of shareholder value over time.

All companies, the authors argue, inherently possess an enormous potential to create higher value for their shareholders. With hundreds of examples of companies that have successfully employed the beliefs, principles, and practices of value based management, this book shows general managers how to generate superior returns and realize their business's full value potential.

The current period of market and governmental turbulence is the most challenging--yet rewarding--time to be a treasurer. Now, as perhaps never before, the treasurer's visions, skills, and worth will be tested and proven. A useful reference, "The Strategic Treasurer: A Partnership for Corporate Growth" systematically equips today's corporate treasurers to move from merely being the liquidity manager to becoming a strategic driver and steward of corporate value as well as an equal partner with senior management.

A new book to help senior executives and boards get smart about risk management The ability of businesses to survive and thrive often requires unconventional thinking and calculated risk taking. The key is to make the right decisions-even under the most risky, uncertain, and turbulent conditions. In the new book, Surviving and Thriving in Uncertainty: Creating the Risk Intelligent Enterprise, authors Rick Funston and Steve Wagner suggest that effective risk taking is needed in order to innovate, stay competitive, and drive value creation. Based on their combined decades of experience as practitioners, consultants, and advisors to numerous business professionals throughout the world, Funston and Wagner discuss the adoption of 10 essential and practical skills, which will improve agility, resilience, and realize benefits: Challenging basic business assumptions can help identify "Black Swans" and provide first-mover advantage Defining the corporate risk appetite and risk tolerances can help reduce the risk of ruin. Anticipating potential causes of failure can improve chances of survival and success through improved preparedness. Factoring in velocity and momentum can improve speed of response and recovery. Verifying sources and the reliability of information can improve insights for decision making and thus decision quality. Taking a longer-term perspective can aid in identifying the potential unintended consequences of short-term decisions.

An essential guide to business valuation and bankruptcy

"Business Valuation and Bankruptcy" helps you-whether you are an accountant dealing with a troubled company, a lender, an investor, a bankruptcy and restructuring lawyer/financial advisor, or a private equity player-to focus on solving everyday and case determinative disputes when creditors, lenders, and debtors have differing views of value.

Introducing valuation issues early on in the restructuring/bankruptcy process so you can plan accordingly, this book offers
Many real life case examples, case descriptions, and tables to demonstrate the applicable sections of the Bankruptcy LawsA review of the methods, applications, pros and cons of restructuring with the basic tools to understanding itA description of the life cycle of a troubled company and the various stages of a restructuringAn analysis of the valuation issues that confront practitioners in the real world of application of the law

"Business Valuation and Bankruptcy" is written in terms that are common to bankruptcy professionals and is essential, timely reading for players in the bankruptcy and restructuring environment.

The economic climate, new regulations and developments both here and abroad have totally changed the face of today's mergers and acquisitions. Completely rewritten and updated, it examines realistic strategies and goals for the 1990s that must be addressed in order to achieve a successful acquisition program. Includes coverage of the post-acquisition process, chapters on restructuring financially troubled companies, and unique strategies that apply to niche acquisitions. It also features new material on international mergers, the pros and cons of partial buy-ins, cross-border alliances, financing options and covers issues (strategic, legal, financial and regulatory) that can affect a deal of any size.

A practical, accessible introduction to the evolving electric power industry

As the industry environment transforms from a completely regulated setting to a broader, deregulated marketplace, new market participants must understand planning and operations of power systems to effectively participate in markets. This industry overview provides a description of utility operations and traditional planning, and then explains asset management, investment analysis, and risk management within the context of a market environment. Written to provide a broad, working knowledge of the industry, Electric Power Planning for Regulated and Deregulated Markets:

Includes descriptions of generation and transmission network equipment

Provides an overview of the regulatory framework, system design, and systems operations for ensuring reliable delivery of power

Presents system planning across different time horizons with the objective of minimizing power production costs

Explains the principles and architecture of a market environment, coupling operational imperatives with financial transactions

Addresses approaches of various participants, including power producers, retailers, and integrated energy companies toward bidding in day ahead markets, managing risks in forward markets, portfolio development, and investment analysis

Provides numerous examples addressing cost minimization, price forecasting, contract valuation, portfolio risk measurement, and other challenges

Examines past news events and explains what went wrong at Three Mile Island, the Northeast blackout of 2003, and the California energy crisis

This is an ideal reference for professionals in the public and privatepower service sectors, including engineers, lawyers, systems specialists, economists, financial analysts, policy analysts, and applied mathematicians.

Essential guidance on the revised COSO internal controls framework

Need the latest on the new, revised COSO internal controls framework? "Executive's Guide to COSO Internal Controls" provides a step-by-step plan for installing and implementing effective internal controls with an emphasis on building improved IT as well as other internal controls and integrating better risk management processes. The COSO internal controls framework forms the basis for establishing Sarbanes-Oxley compliance and internal controls specialist Robert Moeller looks at topics including the importance of effective systems on internal controls in today's enterprises, the new COSO framework for effective enterprise internal controls, and what has changed since the 1990s internal controls framework.Written by Robert Moeller, an authority in internal controls and IT governancePractical, no-nonsense coverage of all three dimensions of the new COSO frameworkHelps you change systems and processes when implementing the new COSO internal controls frameworkIncludes information on how ISO internal control and risk management standards as well as COBIT can be used with COSO internal controlsOther titles by Robert Moeller: "IT Audit, Control, and Security, Executives Guide to IT Governance"

Under the Sarbanes-Oxley Act, every corporation has to assert that their internal controls are adequate and public accounting firms certifying those internal controls are attesting to the adequacy of those same internal controls, based on the COSO internal controls framework. "Executive's Guide to COSO Internal Controls" thoroughly considers improved risk management processes as part of the new COSO framework; the importance of IT systems and processes; and risk management techniques.

This book examines women's financial activity from the early days of the stock market in eighteenth century England and the South Sea Bubble to the mid-twentieth century. The essays demonstrate how many women managed their own finances despite legal and social restrictions and show that women were neither helpless, incompetent and risk-averse, nor were they unduly cautious and conservative. Rather, many women learnt about money and made themselves effective and engaged managers of the funds at their disposal. The essays focus on Britain, from eighteenth-century London, to the expansion of British financial markets of the nineteenth century, with comparative essays dealing with the US, Italy, Sweden and Japan. Hitherto, writing about women and money has been restricted to their management of household finances or their activities as small business women. This book examines the clear evidence of women's active engagement in financial matters, much neglected in historical literature, especially women's management of capital. .

Managers responsible for spending public money in health and social welfare are facing unprecedented pressures to deliver better services against a background of fierce competition for resources, profound organizational change and the creation of internal market places. In this practically-directed book, William Bryans explains how business principles can be applied in the public service context to enable managers to meet this challenge. The author demonstrates how it is possible to create a surplus for service development by effective strategic management of external and internal financial environments, operational management of workloads and resources, and tactical intervention to limit budget fluctuations to tolerable levels. Each chapter includes a purpose statement, an outline of relevant theory and practice, a keypoint summary and a case study based on real world situations.

"Major gifts are at the heart of any coordinated, successful fundraising effort. Julie Walker shows you how to do it all-- find the prospects, staff the program, and ask for the money. The sidebar stories and real-world examples sprinkled throughout the book are entertaining, yet still make a point. I would buy it for the advice and keep it for the anecdotes."
--Duris Holmes, Chairman of the Board Benjamin Franklin High School New Orleans, Louisiana

Part of the AFP/Wiley Fund Development Series, Nonprofit Essentials: Major Gifts is a professional guide to major gift fundraising, concisely presented in a format that is accessible, lively, and easy-to-read. With in-depth advice from experienced fundraiser Julia Walker, this book takes the reader from the early stages of establishing a program through the core elements of all major gift programs: identifying and rating prospects; preparing the case; training volunteers; cultivating donors; making the ask; and providing recognition and stewardship for the gift. Its nuts-and-bolts presentation focuses on how to create a prospect-centered program that develops the capacity to engage and solicit donors, effectively based on their unique interests and needs.

In recent years, concerns over the effectiveness of public administration have encouraged the widespread measurement and management of 'performance'. But is performance management an appropriate model for public sector organizations, and has it proved successful? Moreover, how do the principles of performance management affect how public bodies operate, and the way they relate to the wider community? In this important text, the viability of performance management in public sector organizations is systematically assessed across a number of international case studies. The book provides a framework through which models of performance management can be understood in terms of both their impact within a public sector organization, and the effects that have been seen in countries with contrasting administrational contexts. Managing Performance - International Comparisons critically examines the effects of performance management models in the public sector, and assesses their future evolution. It is an important book for all students and researchers with an interest in management, public administration and public policy.

In recent years, concerns over the effectiveness of public administration have encouraged the widespread measurement and management of 'performance'. But is performance management an appropriate model for public sector organizations, and has it proved successful? Moreover, how do the principles of performance management affect how public bodies operate, and the way they relate to the wider community?

In this important text, the viability of performance management in public sector organizations is systematically assessed across a number of international case studies. The book provides a framework through which models of performance management can be understood in terms of both their impact within a public sector organization, and the effects that have been seen in countries with contrasting administrational contexts.

Managing Performance - International Comparisons critically examines the effects of performance management models in the public sector, and assesses their future evolution. It is an important book for all students and researchers with an interest in management, public administration and public policy.