Ernesto Caravantes was among the multitudes of people who were affected by the Recession of 2008, the financial impact of which continues to be felt to this day. Rather than focus on how people can return to their former consumerist lifestyle, he decided to explore how people can trade one paradigm of conspicuous consumption for another of frugality and simplicity. The author uses a reader-friendly approach to exploring these issues, and combines both personal narrative and practical advice to make his point. With over one hundred easy-to-do fun ideas and entertaining activities that are free or very low in cost, the reader is shown the possibility of a life beyond spending. Caravantes explains that now is the time to embrace a simpler manner of living, one free of the constant need to spend and acquire. He also says that the human spirit can be nurtured by such a change. He emphasizes that it is our connection to others, to ourselves, and to the larger forces in the universe which ultimately matter the most

Companies' decision-making and planning systems find themselves in a constant tug of war between strategic and financial considerations. The authors analyze these two opposing currents in business thinking, dissecting their differences and identifying their best practices. They also develop an approach that reconciles the two conflicting schools of thought - without watering down their differences. Schwenker und Spremann argue that both strategic and financial perspectives can serve as a compass in management's decision-making processes: Which perspective to choose depends on the phase of business. The authors distinguish four phases in the company lifecycle - phases in which the business must find the proper position, develop, grow and, ultimately, earn. In the first two phases, strategic considerations should take priority; in the latter two phases, financial considerations rule the day.

This book focuses on the concepts and applications of risk-based asset allocation. Markowitz's traditional approach to asset allocation suffers from serious drawbacks when implemented. These mainly arise from the estimation risk associated with the necessary input the most critical being expected returns. With the financial crisis, there has been an increasing interest in asset allocation approaches that don't need expected returns as input, known as risk-based approaches. The book provides an analysis of the different solutions that fit this description: the equal-weighting approach, the global minimum-variance approach, the most diversified portfolio approach and the risk parity approach. In addition to a theoretical discussion of these, it presents practical applications in different investment environments. Three different evaluation dimensions are considered to put these approaches to the test: financial efficiency, diversification and portfolio stability.

An authoritative handbook on risk management techniques and simulations as applied to financial engineering topics, theories, and statistical methodologies

The Handbook of Financial Risk Management: Simulations and Case Studies illustrates the prac-tical implementation of simulation techniques in the banking and financial industries through the use of real-world applications.

Striking a balance between theory and practice, the "Handbook of Financial Risk Management: Simulations and Case Studies" demonstrates how simulation algorithms can be used to solve practical problems and showcases how accuracy and efficiency in implementing various simulation methods are indispensable tools in risk management. The book provides the reader with an intuitive understanding of financial risk management and deepens insight into those financial products that cannot be priced traditionally. The "Handbook of Financial Risk Management" also features: Examples in each chapter derived from consulting projects, current research, and course instructionTopics such as volatility, fixed-income derivatives, LIBOR Market Models, and risk measuresOver twenty-four recognized simulation modelsCommentary, data sets, and computer subroutines available on a chapter-by-chapter basis

As a complete reference for practitioners, the book is useful in the fields of finance, business, applied statistics, econometrics, and engineering. The "Handbook of Financial Risk Management" is also an excellent text or supplement for graduate and MBA-level students in courses on financial risk management and simulation.

In Valuing and Selling Your Business: A Quick Guide to Cashing In, author and valuation expert Tim McDaniel, a veteran of over 2,000 valuation engagements and dozens of M&A deals, covers the essentials in a short value-packed book of valuing and selling your business for an acceptable price. And if the valuation doesn't suggest the price you have in mind is possible, McDaniel shows you how to increase the value before putting your company on the market. It probably won't surprise you that 60-80% of a business owner's wealth is tied up in the value of the business. This is your most important asset, but you probably only guess at its value and you may have no concrete plan to increase that value. Even if you're not planning to sell in the near future, it's good to know what your business is worth so you can take the steps McDaniel outlines to make it more attractive to prospective buyers. This book covers: How valuations are done Whom to engage as a valuator How to increase the value of your business Insider tips on the sales process Best sales practices Valuing and Selling Your Business: A Quick Guide to Cashing In-an abridgement of McDaniel's Know and Grow the Value of Your Business-helps you get the most for your business when you decide it's time to move on.

Learn to create and understand financial models that assess the value of your company, the projects it undertakes, and its future earnings/profit projections. Follow this step-by-step guide organized in a quick-read format to build an accurate and effective financial model from the ground up. In this short book, The Basics of Financial Modeling-an abridgment of the Handbook of Financial Modeling-author Jack Avon equips business professionals who are familiar with financial statements and accounting reports to become truly proficient. Based on the author's extensive experience building models in business and finance, and teaching others to do the same, this book takes you through the financial modeling process, starting with a general overview of the history and evolution of financial modeling. It then moves on to more technical topics, such as the principles of financial modeling and the proper way to approach a financial modeling assignment, before covering key application areas for modeling in Microsoft Excel. What You'll Learn Understand the accounting and finance concepts that underpin working financial models Approach financial issues and solutions from a modeler's perspective Think about end users when developing a financial model Plan, design, and build a financial model Who This Book Is For Beginning to intermediate modelers who wish to expand and enhance their knowledge of using Excel to build and analyze financial models

This is the first text that has been developed specifically to examine what revenue managers in the hospitality industry must know and do to be successful. Numerous cases and practical examples are used to illustrate revenue management concepts. Chapter ending questions and problems help them perform the calculations and practice the decision-making skills that are used in the field. "RM in Action" shows how the revenue management principles can be clearly illustrated using real-world examples reported in various news outlets. "RM on the Web" offers sites listed on the Internet to provide supplemental information about a topic or issue. Revenue managers will then gain hands-on skills to effectively manage their inventories and prices.

No other management tool provides the operational direction that a well-planned budget can. Now in a new edition, this book provides updated coverage on issues such as budgeting for exempt organizations and nonprofits in light of the IRS' newly issued Form 990; what manufacturing CFOs' budgeting needs are; current technology solutions; and updated information on value-based budgets. Controllers, budget directors, and CFOs will benefit from this practical "how-to" book's coverage, from the initial planning process to forecasting to specific industry budgets.

Since its publication, Complex Adaptive Leadership has become a Gower bestseller that has been taught in corporate leadership programmes, business schools and universities around the world to high acclaim. In this updated paperback edition, Nick Obolensky argues that leadership should not be something only exercised by nominated leaders. It is a complex dynamic process involving all those engaged in a particular enterprise. The theoretical background to this lies in complexity science and chaos theory - spoken and written about in the context of leadership for the last 20 years, but still little understood. We all seem intuitively to know leadership 'isn't what it used to be' but we still cling to old assumptions which look anachronistic in changing and challenging times. Nick Obolensky has practised, researched and taught leadership in the public, private and voluntary sectors. In this exciting book he brings together his knowledge of theory, his own experience, and the results of 19 years of research involving 2,500 executives in 40 countries around the world. The main conclusion from that research is that the more complex things become, the less traditional directive leadership is needed. Those operating in the real world, nonetheless, need ways of coping. The book is focused on helping practitioners struggling to interpret and react to increasingly VUCA (Volatile, Uncertain, Complex, Ambiguous) times. The book will particularly appeal to practitioners wishing to improve their leadership effectiveness as well as for students and researchers in the field of leadership.

Part of a series which focuses on advances in futures and options research, this volume discusses a variety of topics in the field.

Practical Financial Modelling, 3e is a book on model development and model assurance. It enhances the modelling process by emphasizing controls and checks for accuracy and reliability. New content on validation and verification, model use and sensitivity analysis is presented alongside a modelling methodology that underpins the various proprietary standards used in financial modelling today. It provides more details than other books and yet is general enough for applying its methodology to many applications. This book isn't just about the details of building cash flow models, it's about building better cash flow models.

Financial Ratios for Executives is written specifically with today's global executive in mind. It makes financial ratios easy to understand and use effectively. This short book will prove invaluable to both financial and non-financial executives looking for easy, intuitive methods to assess corporate health and assist in strategic decision making. Financial Ratios for Executives contains over 100 financial ratios and other useful calculations. It includes ratios that are commonly used, such as return on investment (ROI), return on assets (ROA), return on equity (ROE), economic value added (EVA), and debt-to-equity ratio, just to name a few. It also includes many less-well known-yet powerful-ratios that can provide unparalleled insight into operations, financial management, sales and marketing efforts, and overall performance, among other areas. Using realistic financial and operational data from two fictional companies, the explanation of each ratio includes: Type of ratio Formula for calculating the ratio Description of the ratio Example based on ABC Company or XYZ Company Additional comments or insights In addition to the section on financial ratios, financial experts Michael Rist and Albert Pizzica have included a section on capital budgeting, an understanding of which is essential for both the financial and non-financial executives before they take part in an annual budget meeting or any other business meeting where capital allocation is discussed. It includes the most important tools of finance, such as net present value (NPV), internal rate of return (IRR), payback method, and total cost of ownership. Who gets ahead in the business world? Those who understand the numbers. It's as simple as that. Financial Ratios for Executives is for those who want to understand how to use financial data to support their initiatives, solve persistent problems, uncover opportunities, bolster company health, and shine in corporate meetings.

Bernadette Gral examines the relationship between financial slack and corporate performance in the European pharmaceutical industry during the financial crisis of 2007 to 2010. Her investigation includes correlational and regression analyses as well as the qualitative content analysis of newspaper articles. The results show that financial slack influences corporate performance measured as ROA based on net income, thus implying that firms use slack resources to enhance performance during crises. The findings support the arguments for a beneficial effect of financial slack on performance according to the resource based view and behavioral theory of the firm.

Risk control, capital allocation, and realistic derivative pricing and hedging are critical concerns for major financial institutions and individual traders alike. Events from the collapse of Lehman Brothers to the Greek sovereign debt crisis demonstrate the urgent and abiding need for statistical tools adequate to measure and anticipate the amplitude of potential swings in the financial markets-from ordinary stock price and interest rate moves, to defaults, to those increasingly frequent "rare events" fashionably called black swan events. Yet many on Wall Street continue to rely on standard models based on artificially simplified assumptions that can lead to systematic (and sometimes catastrophic) underestimation of real risks. In Practical Methods of Financial Engineering and Risk Management, Dr. Rupak Chatterjee- former director of the multi-asset quantitative research group at Citi-introduces finance professionals and advanced students to the latest concepts, tools, valuation techniques, and analytic measures being deployed by the more discerning and responsive Wall Street practitioners, on all operational scales from day trading to institutional strategy, to model and analyze more faithfully the real behavior and risk exposure of financial markets in the cold light of the post-2008 realities. Until one masters this modern skill set, one cannot allocate risk capital properly, price and hedge derivative securities realistically, or risk-manage positions from the multiple perspectives of market risk, credit risk, counterparty risk, and systemic risk. The book assumes a working knowledge of calculus, statistics, and Excel, but it teaches techniques from statistical analysis, probability, and stochastic processes sufficient to enable the reader to calibrate probability distributions and create the simulations that are used on Wall Street to valuate various financial instruments correctly, model the risk dimensions of trading strategies, and perform the numerically intensive analysis of risk measures required by various regulatory agencies.

An in-depth guide to preparing accurate nursing budgets, this book will help you improve your financial skills and contribute to your organization's strategic planning. It discusses the different types of budgeting, the budgeting process, forecasting, variance analysis, and costing out nursing services. A variety of settings are included: hospitals, long-term care, home health, community health, managed care, and others. With this guide, you'll learn how to communicate effectively with financial managers, succeed in your role in the budgeting process, and assist in the delivery of high-quality patient care at the lowest possible cost. Each chapter includes Learning Objectives to focus your study and a Summary and Implications for Nurse Managers to reinforce what you've learned. Additional Suggested Readings provides helpful resources for further research and study. An appendix includes numerous sample budget forms and instructions, allowing you to see firsthand the various types of budgeting forms used in day-to-day practice. New "Budgeting for Information Systems" chapter describes how to budget for information technology (IT), what kind of personnel you should consider hiring to support the nursing IT function, and how to evaluate IT products. New "Budgeting for the Operating Room" chapter covers key stakeholders in the budget development process, developing the prioritization process, and specialized aspects of the operating room budget. A discussion of magnet hospitals has been added, including the cost implications of applying for "magnet" status. Coverage now includes different delivery care models and their potential budgetary impact to a health care organization, along with Clinical Ladders and the budgetary implications of nurses "testing-up" the ladder. Budgeting for clinics and same-day surgery facilities is described. Updated and expanded content discusses budget variance analysis and interpretation of budget reports that differ from the planned budget. Includes the budget implications of outsourcing, and how to determine whether outsourcing is cost-effective for a particular service.

Especially in times of an economic boom following a crisis, companies have to deal with the phenomenon of the "working capital trap," which signifies a company's increasing need for financial liquidity in times of hindered access to debt capital, caused by the increasingly restrictive credit approval processes of financial institutions. As a consequence of cost savings, this situation is often reinforced by a low level of inventory.

This book takes up the problem and shows ways of escaping the "trap" by identifying and strengthening in-house financing potential. First, different operating ratios will be introduced. These refer to the amount of capital committed to the flow of goods and to the amount of in-house financing possible. Subsequently, methods for consolidating in-house financing that are affected by procurement processes will be presented from the company's and the supply chain's perspective.

From a company's perspective, the methods for consolidating the amount of in-house financing over the following topics: The Management of Payment Terms, Inventory Management and Product Group and Supplier Management

From the supply chain's perspective, the following methods for extending the possible amount of in-house financing will be discussed: Finance-Oriented Supply Chain Sourcing, Supply Chain-Oriented Supplier Financing, Collaborative Cash-to-Cash Management, Collaborative Cash Pooling and Netting, Supply Chain Financing Platforms.

The conceptual models will be clarified using a practical example from the automobile industry. Finally, the "Procurement Value Added" (PVA(c)) approach will be presented, a concept that measures the contribution of procurement to the company's success.

This seventh volume in the series covers a variety of topics in financial planning and forecasting.

Praise for "Enterprise Risk Management and COSO: " "A Guide for Directors, Executives, and Practitioners"

""Enterprise Risk Management and COSO" is a comprehensive reference book that presents core management of risk tools in a helpful and organized
way. If you are an internal auditor who is interested in risk management, exploring this book is one of the best ways to gain an understanding of enterprise risk management issues."
--"Naly de Carvalho," "FSA Times"

"This book represents a unique guide on how to manage many of the critical components that constitute an organization's corporate defense program."
--Sean Lyons, Corporate Defense Management (CDM) professional

"This book provides a comprehensive analysis of enterprise risk management and is invaluable to anyone working in the risk management arena. It provides excellent information regarding the COSO framework, control components, control environment, and quantitative risk assessment methodologies. It is a great piece of work."
--J. Richard Claywell, CPA, ABV, CVA, CM&AA, CFFA, CFD

"As digital information continues its exponential growth and more systems become interconnected, the demand and need for proper risk management will continue to increase. I found the book to be very informative, eye-opening, and very pragmatic with an approach to risk management that will not only add value to all boards who are maturing and growing this capability, but also will provide them with competitive advantage in this important area of focus."
--David Olivencia, President, Hispanic IT Executive Council

Optimally manage your company's risks, even in the worst of economic conditions.

There has never been a stronger need for sound risk management than now. Today's organizations are expected to manage a variety of risks that were unthinkable a decade ago. Insightful and compelling, "Enterprise Risk Management and COSO" reveals how to:

Successfully incorporate enterprise risk management into your organization's culture

Foster an environment that rewards open discussion of risks rather than concealment of them

Quantitatively model risks and effectiveness of internal controls

Best discern where risk management resources should be dedicated to minimize occurrence of risk-based events

Test predictive models through empirical data

Business of all sizes have a problem: How do you knowin real timewhether you are earning the profit you need to grow or even just stay in business? And which products or services are doing the heavy lifting in contributing to profit? Financial statements tell only part of the story. They are backward looking, for one thing, and they generally show results only in the aggregate. Worse, they never seem to reflect the hard work you're doing on a daily basis. As one manager said, If I'm adding 25% profit to every job, why am I getting barely 5% net profit at the end of the year? Improving Profit: Using Contribution Metricsto Boost the Bottom Line solves this dilemma. As this book shows, Contribution-Based Activity (CBA) measures focus on two key levers that are fundamental to the operation of any business: financial contribution and units of activity. Knowing how to use these levers gets your company off the treadmill and on your way to stellar profitability. And as the 21 case studies show, CBA is surprisingly easy to apply to businesses of all types and all sizes. What is financial contribution? Simply the amount above and beyond the cost of goods or materials sold that contributes to covering overhead and creating profit. As entrepreneur, business consultant, and professor Keith Cleland shows, few managers actually know the financial contribution their products and services make, nor how to amplify that contribution by incremental adjustments to one or both levers. As you'll learn, the financial tool Cleland created, TARI (Target Average Rate Index), provides insight into each product's value. You'll not only learn which products are contributing the most to the bottom line, but how to unlock the profit potential in run-of-the-mill products or services. Improving Profit will help you: Restore and boost profit levels for your entire operation Relate your daily efforts toa transaction'sactual profitability Focus on the two key performance indicators that can help you identify and solve problems affecting finance and productivity Help everyone in the companyfrom CEO to janitorunderstand how their activities help or hinder the company's fortunes Make effective financial decisions

If you've ever wondered why your results don't match your hard work, hopes, and dreams, read this book. As the case studies make clear, identifying and applying TARI results in a significantand often dramaticboost to the bottom-line. What you'll learn Readers will learn to: Improve the profitability of a job, product, service, or department Price products and services correctly Conserve cash and avoid financial crunches Win desirable quotes and tenders Identify and track productivity Who this book is for

This book is for business managers, directors, consultants, students, professors, CPAs, and business advisers of all types. Table of Contents Background to Contribution-Based Activity (CBA) Kitchen Utensil Manufacturer Taken to the Cleaners Printing Business Multiplies Net Profit by 500% Furniture Manufacturer Climbs Out of the Red Contractor Overcomes Competition to Make a Profit Horticultural Equipment Proprietor's Moment of Truth Wholesaler Nets $2.5M in 10+ Months Jeweler's Changed Focus Turns Red into Black Upmarket Cafe Learns How to Stay on Track Diesel Repair Shop Rescued from Sand-Up- Hill Country Garment Maker Multiplies Net Profit by 700% Switchboard Manufacturer Climbs into the Black Baker Identifies W here the Rubber Meets the Road Architectural Practice Eradicates a Malignant Cancer Accounting Firm Wins by Losing a Third of Its Fees Legal Firm Transfers Productivity to the Bottom Line Contractor Increases Strike Rate to 1 in 4 Hot Bread Baker Discovers More to Bread than Flour Window Manufacturer's Flawed Foundation Multi-Home Contractor Discovers a New Way Home Award-Winning Hairdressing Salon Cuts Its Way Out of Bankruptcy Multi-Department Store Whitewashes the Past 14 Businesses Explore CBA/TARI Questions Answered Fast-Track Problem Resolution Guide Definition of Terms The Business Wheel Epilogue: Why Contribution Metrics?

Asking is more than a skill it's a lifestyle The Ask is your personal manual for building the best, most fulfilling personal and professional life possible. Crafting the perfect ask can fund your new business, support your favorite charity, and get more quality time with your significant other but it can do so much more than that. It can change your life. In learning how to ask for what you really want and deserve, you lose your fear of rejection and judgement. You create the greatest sense of self-worth that no one can give you, you give it to yourself when you ask. The critical moment is when you turn your skills inward and make the hardest asks, the ones you ask yourself. This book is designed to make you an Exceptional Asker, and in the process, give you the confidence and skills you need to achieve all your goals and realize your dreams. You'll learn how to prepare, what words to use, what to avoid, and how to follow up, and you'll purge the natural hesitancy that has been holding you back for so long. Asking is about empowerment. It shows the world that what you want matters. It defines who you are, where you're going, and who will be by your side. This book provides over 175 sample asks, with clear actionable steps to help you claim your space in relationships, at work, and in the world. * Rewrite your own rulebook and find empowerment in asking * Learn the simple five steps to craft the perfect ask * Discover the secret of the ask its two sentences and a question * Remove your Money Blockers and turn a bad ask into a win * Conquer the hardest asks you'll ever make the ones you ask yourself Mastering the art of the ask reconfigures your approach to life, and changes the way you tackle challenges and goals. The Ask gives you the skills and the mindset you need to accomplish anything you can dream.

This volume covers such topics as prior evidence on corporate annual reports, research methodology and the demographics of the corporate shareholder, investors' investment objectives and their information sources, and the readership and usefulness of corporate financial statements.

Service firms have high overhead costs which are difficult to assign to individual services. To bring transparency to their value chain, they need costing approaches that help them find their own improvements. Markus B. Baum explores current theory and practice of value chain approaches and cost accounting to develop a costing approach with a suitable instrument for the allocation of fixed and overhead costs for a service firm. He describes the service business costing (SBC) approach. This hybrid-costing model has a hierarchical structure in terms of consolidation and allocates cost and revenues on the lowest hierarchical level possible to ensure that all costs and income are assigned to activities from which they originated."

The recent turmoil on financial markets has made evident the importance of efficient liquidity risk management for the stability of banks. The measurement and management of liquidity risk must take into account economic factors such as the impact area, the timeframe of the analysis, the origin and the economic scenario in which the risk becomes manifest. Basel III, among other things, has introduced harmonized international minimum requirements and has developed global liquidity standards and supervisory monitoring procedures. The short book analyses the economic impact of the new regulation on profitability, on assets composition and business mix, on liabilities structure and replacement effects on banking and financial products.

This book offers all the advice you need to help your charity create successful and long-lasting partnerships with corporates. With charity-corporate partnerships now more high profile than ever, the number of charity and corporate players working fruitfully together is on the increase. For a successful partnership to help improve your charity's finances and reputation, you will need to understand how to develop a robust strategy, follow best practice and get your voice heard by the right people. This guide shows you how to achieve this using the best methods and techniques in the field, all with the ultimate aim of helping your beneficiaries. In association with the Hartsook Centre for Sustainable Philanthropy at Plymouth University and the Institute of Fundraising. Who should buy this book? The diverse range of topics covered in this book provides a solid background for anyone involved in corporate fundraising, whether you are new to the field or a practised professional. What does it cover? This fifth edition combines chapter contributions and case studies from leading experts in both charity and corporate sectors, including how to: *Develop a strategic approach to corporate fundraising and take *advantage of research and data *Find new partners, carry out due diligence and choose a corporate *partnership portfolio *Pitch for partnerships and negotiate the best value for your charity *Manage the corporate account and recruit and structure a team *Forewarn and forearm yourself with crucial legal and regulatory issues