The taxation of equity derivatives and structured products is analyzed in detail by Tony Rumble and his contributors, Mohammed Amin and Ed Kleinbard. The book covers the financial and tax technical analysis of issues relating to equity derivatives and structured products. Part 1 examines the derivatives building blocks and financial market/corporate finance drivers of the equity derivatives and financial products market, and includes case studies of typical and landmark transactions. Part 2 looks at the tax technical rules in each of the target countries - the US, UK and Australia - and examines the specific products highlighted in the first part of the book. Case studies of significant transactions are included where necessary.

The rapid advancement of technology and of Internet commerce in a globalized market has brought change at an unprecedented rate. Credit institutions, manufacturing, merchandising and service companies are finding that their traditional methods and tools for accounting and logistics no longer suffice. They must develop more efficient processes, able to assure management control in real-time, promote transparency in accounts, and make immediate corrective action possible. The earlier they prepare to take advantage of the Internet supply chain, the greater the benefits will be. This book focuses on the most significant developments taking place in the market, their impact on the accounting and finance function, the new efficient logistics solutions, and how new technology effects commerce. Based on an extensive research project in the US, Britain, Germany, France, Austria, Switzerland and Sweden, The Internet Supply Chain explains what can be expected in business opportunities and in cost savings from selling and purchasing through the internet. The author goes on to suggest how accounting and logistics will need to be restructured to cope with, and make the most of the challenges and benefits presented by the Internet supply chain.

This is the first detailed view of the managerial accountant's role and responsibilities in organization setting. Its aim is to foster role development: the opportunity to work at an advanced level of practice. Accounting studies develop technical skills associated with topics, and, responding to defined scenarios but provide very little guidance on what to recognizing and approaching the broad problems or challenges under conditions of uncertainty. It is a double first because it provides the managerial accountant's compass as a general purpose analytical framework for managerial accounting independent of any selected theory and method. The metaphor of a compass creates a mental schema for its four points named (1) goals and principles, (2) boundaries and constraints, (3) methods and models, and, (4) collegial relationships. Dynastic Chinese and some other Central Asian cultures, view the center as a fifth principal direction, giving a total of five points. The center represents a high standard ethical conduct and self-care, or moral compass. Managerial Accountant's Compass offers an integrated and systematic guide to approaching situations that are constantly changing. It gives a protective starting pattern which produces new meanings and awareness of the ambiguity and uncertainty for each situation. Ultimately the managerial accountant's compass can help you make more effective sense of yourself, your expertise and your practice in the organization where you work, which should open career opportunities.

The Nine Years' War with France was a period of great institutional innovation in public finance and of severe monetary turmoil for England. It saw the creation of the Bank of England; a sudden sharp fall in the external value of the pound; a massive undertaking to melt down and recoin most of the nation's silver currency; a failed attempt to create a National Land Bank as a competitor to the Bank of England; and the ensuing outbreak of a sharp monetary and financial crisis. Histories of this period usually divide these events into two main topics, treated in isolation from one another: the recoinage debate and ensuing monetary crisis and a 'battle of the banks'. The first is often interpreted as the pyrrhic victory of a creditor-dominated parliament over the nation's debtors, one that led very predictably to the ensuing monetary crisis. The second has been construed as a contest between whig-merchant and tory-gentry visions of the proper place of banking in England's future. This book binds the two strands into a single narrative, resulting in a very different interpretation of both. Parliamentary debate over the recoinage was superficial and misleading; beneath the surface, it was just another front for the battle of the banks. And the latter had little to do with competing philosophies of economic development; it was rather a pragmatic struggle for profit and power, involving interlocking contests between two groups of financiers and two sets of politicians within the royal administration. The monetary crisis of summer 1696 was not the result of poor planning by the Treasury; rather it was a continuation of the battle of the banks, fought on new ground but with the same ultimate intent - to establish dominance in the lucrative business of private lending to the crown.

Upgrade your knowledge to learn S/4HANA, the latest version of the SAP ERP system, with its built-in intelligent technologies, including AI, machine learning, and advanced analytics.Since the first edition of this book published as SAP ERP Financial and Controlling: Configuration and Use Management, the perspective has changed significantly as S/4HANA now comes with new features, such as FIORI (new GUI), which focuses on flexible app style development and interactivity with mobile phones. It also has a universal journal, which helps in data integration in a single location, such as centralized processing, and is faster than ECC S/3. It merges FI & CO efficiently, which enables document posting in the Controlling area setup. General Ledger Accounts (FI) and Cost Element (CO) are mapped together in a way that cost elements (both primary and secondary) are part of G/L accounts. And a mandatory setup of customer-vendor integration with business partners is included vs the earlier ECC creation with separate vendor master and customer master. This updated edition presents new features in SAP S/4HANA, with in-depth coverage of the FI syllabus in SAP S/4HANA. A practical and hands-on approach includes scenarios with real-life examples and practical illustrations. There is no unnecessary jargon in this configuration and end-user manual. What You Will Learn Configure SAP FI as a pro in S/4 Master core aspects of Financial Accounting and Controlling Integrate SAP Financial with other SAP modules Gain a thorough hands-on experience with IMG (Implementation Guide) Understand and explain the functionalities of SAP FI Who This Book Is For FI consultants, trainers, developers, accountants, and SAP FI support organizations will find the book an excellent reference guide. Beginners without prior FI configuration experience will find the step-by-step illustrations to be practical and great hands-on experience.

A fundamental objective of Artificial Intelligence (AI) is the creation of in telligent computer programs. In more modest terms AI is simply con cerned with expanding the repertoire of computer applications into new domains and to new levels of efficiency. The motivation for this effort comes from many sources. At a practical level there is always a demand for achieving things in more efficient ways. Equally, there is the technical challenge of building programs that allow a machine to do something a machine has never done before. Both of these desires are contained within AI and both provide the inspirational force behind its development. In terms of satisfying both of these desires there can be no better example than machine learning. Machines that can learn have an in-built effi ciency. The same software can be applied in many applications and in many circumstances. The machine can adapt its behaviour so as to meet the demands of new, or changing, environments without the need for costly re-programming. In addition, a machine that can learn can be ap plied in new domains with the genuine potential for innovation. In this sense a machine that can learn can be applied in areas where little is known about possible causal relationships, and even in circumstances where causal relationships are judged not to exist. This last aspect is of major significance when considering machine learning as applied to fi nancial forecasting."

The purpose of this book is to set out the basic principles and conceptual issues of the International Financial Reporting Standards (IFRS).

This book provides the only introduction to accounting according to German GAAP in English. This is helpful for students attending courses taught in English as well as for professionals in foreign subsidiaries of German companies. The 2nd edition provides a new translation of relevant parts of the German Commercial Code, updates the legal references and extends the exercises and case studies offered.

Dieses Lehrbuch zeigt mit Hilfe - eines systematischen, mit zahlreichen Beispielen aufbereiteten Lehrtextes, - mehrerer, teilweise vertiefender Ubungsaufgaben und detaillierter Losungshinweise, - von Formularen zur manuellen und EDV-unterstutzten Nutzung des auf EXEL aufbauenden Standardsystems "STRELAPLAN" Hintergrunde und Rechentechnik einer in den vergangenen Jahren im Dialog von Forschung, Lehre und Praxis entwickelten Prazisierung und Systematisierung der Plan- und Prozesskostenrechnung. Dementsprechend richtet wendet sich das Buch an Studierende und Vertreter/innen aus Unternehmen. Aus dem Inhalt: Einfuhrung in die Plan- und Prozesskostenrechnung. Plan- und Prozesskostenrechnung als System. Entwicklung der Rechenschemata in praktischer Anwendung. Zur Begrundung und Methodik einer praxisgerechten Plankostenrechnung. Ausblick: Entwicklungslinien einer praxisgerechten Plankostenrechnung. Plankostenrechnung als Instrument einer prazisierten Prozesskostenrechnung. Aufgaben und Losungen. Definitionen. Spezialanwendungen. Formulare mit Formelanzeigen."

Die Grundungs- und Wachstumsfinanzierung umfasst eine Vielzahl von Massnahmen, die den Unternehmensaufbau- und fruhen Expansionsprozess vor allem junger, innovativer Unternehmen begleitet. Der erste Hauptteil des Werkes enthalt die Darstellung der Beteiligungsfinanzierung, der zweite Hauptteil bringt eine umfassende empirische Analyse des tatsachlichen Entwicklungsprozesses der am Neuen Markt gelisteten Unternehmen unter finanzierungsrelivanten Gesichtspunkten."

This textbook offers a step-by-step guide through comprehensive financial statement analysis with real-life case studies for students of financial accounting, financial reporting, and financial statement analysis. Structured into five comprehensive sections, it begins by explaining the content of accounting reports themselves and the three primary financial statements (income statement, balance sheet and cash flow statement). It deciphers the notes to financial statements and demonstrates some classical tools such as ratio analysis and multivariable credit risk models that are useful in a retrospective financial statement analysis. It includes simple step-by-step procedures of a prospective (i.e. future-oriented) financial statement simulation and closes with a comprehensive real-life case study that demonstrates a practical application of the analytical tools discussed earlier in the text. Additionally, the textbook includes online appendices consisting of additional comprehensive real-life case studies (of varying degrees of complexity and dealing with different aspects of a practical financial statement analysis), a set of MS Excel files that contain all major calculations included in tables and charts that appear in the core textbook, and a set of webinars in which the most fundamental parts of the core textbook are discussed in the form of the recorded lectures.

Tax Havens for International Business is a special management report that shows how the establishment of a tax haven operation, in any of many locations worldwide, can save more money than any internal tax-shelter programme. This volume provides a comprehensive, step-by-step plan that simplifies the myriad complexities surrounding the formation and incorporation of branch offices and subsidiary companies within such tax havens as the Bahamas, Bermuda, the Cayman Islands, Greece, Hong Kong, Luxembourg, Malta, The Netherlands, Panama, Puerto Rico, and Switzerland. In addition, it presents detailed information on each tax haven's economic, legal, political, cultural and geographical aspects, which must be considered if such an enterprise is to operate successfully.

The current degradation of sovereign balance sheets raises very real concerns about how sovereign creditworthiness is measured by credit rating agencies. Given the disastrous economic and social effects of any downgrade, the book offers an alternative and calls for more transparency about the quantitative measures used in calibrating the rating process and how sovereign ratings are validated. It argues that oversight is required and procedures improved, including subjecting methodologies of assessing default to more standardization and monitoring. Sovereign Credit Rating explains the process of sovereign creditworthiness assessment and explores the consequences of possible inaccuracies in the process. Developing an innovative new methodology to assess ratings accuracy, it shows that the announcement of each rating action by the major credit rating agencies show alarming inconsistencies. Written by an internationally recognized author and professor, this unique book will be of interest to researchers and advanced students in corporate governance, accounting, public finance and regulation.

In recent years the capital markets have developed into ever more complex areas, and banks have competed with each other to develop more sophisticated and innovative methods of financing. The pace of this innovation has often outstripped the development of rules for financial reporting. Off balance sheet finance is one particular area where the standard-setters are only now catching up. The Accounting Standards Board recently published a further exposure draft on the subject. FRED 4 - Reporting the substance of transactions - and Part 1 discusses in detail how it will affect the accounting treatment of various forms of off balance sheet finance. The exposure draft is reproduced in full in Part 2. Off Balance Sheet Finance will be an indispensable guide for bankers, other financiers, accountants and lawyers.

Das Finanzmanagement in der Industrie unterscheidet sich in etlichen Belangen grundlegend von dem der Banken. Vor allem in der Liquiditatsplanung und steuerung, dem Bilanzabgleich und dem Devisenmanagement. Das vorliegende Buch ist praxisorientiert und beruht auf den Erfahrungen den Autors wahrend seiner 17-jahrigen Tatigkeit als Leiter der Konzern-Treasury des Volkswagen-Konzerns. Es folgt dem Ziel, den analytischen Ansatz, wie er an vielen Universitaten vermittelt wird, mit dem Finanzmanagement in der Praxis zu verbinden. Neben Grundsatzfragen und einer Einfuhrung in die wichtigsten Finanzinstrumente wird eine Reihe von Case Studies behandelt."

Since the inception of the Financial Reporting Council in May 1990, the Accounting Standards Board and the Financial Reporting Review Panel have featured prominently in the financial press. Creative Accounting questions whether the new regime is likely to improve financial reporting practices in the United Kingdom. Do financial statements contain useful information? Is the new profit and loss account a reliable measure of financial performance? What significance should be attached to the balance sheet and the gearing ratio? Are UK companies guilty of using financial techniques to improve their reported results? Does the stock market pay any attention to company financial statements? Is there such a thing as creative accounting? What is the role of the auditor? Will the recommendations of the Cadbury Committee help to restore public confidence in financial reporting? In addressing these issues, Creative Accounting highlights the complexities and limitations of company financial statements. It is essential reading for all users of these statements.

Hand- und Lehrbuch fur das Risikomanagement zur Krisenfuhrung nach 91 Abs. 2 AktG."

The purpose of this book is to offer a small token in memory of Ken Hilton, who died prematurely at the age of 52 in February 1990. The book contains contributions from a number of 1eading academics; some were close c- leagues of Ken's at the University of Southampton, some have been at other universities but knew Ken fair1y well, and still some who never met Ken but who knew of him through bis work. The unifying motivation for all of them, however, was their immense sense of loss of an extremely proactive and excellent academic. Having led the research group on the Southampton Econometric Model project for three years, Ken was appointed to the Chair of Financia1 Control at the University of Southampton in 1970; at that time this was one of only a handful of similar Chairs in the UK. Most of Ken's subsequent academic career was devoted to contributing to the study of financial control, initially in the private sector and subsequently in the public sector. The breadth of bis interests was demonstrated by bis enviable ability to contribute to the areas of industrial economics, accounting, and management science. We hope therefore that this volume which embraces contributions from leading academics in each of these three fields is a fitting tribute to Ken's work.

Financial accounting is the branch of accounting thought and practice concerned with preparing and providing information for external users of financial statements. This textbook helps students to understand the concepts that underpin the application of accounting theory to solve accounting problems. This international edition includes extracts from financial statements, definitions of key terms and exam examples. Unlike other textbooks, the author provides analysis of why accountants do what they do, and not just how. With such a wealth of accounting models and diagrams intertwined with this analysis, this book guides the reader through all the practicalities and concepts of financial accounting. Additional online questions, exercises and problems provide an opportunity to put this new-found knowledge into practice along the way. This book is an essential guide for students new to accountancy, and an equally useful tool for more experienced students and researchers.

Financial Products, first published in 2008, provides a step-by-step guide to some of the most important ideas in financial mathematics. It describes and explains interest rates, discounting, arbitrage, risk neutral probabilities, forward contracts, futures, bonds, FRA and swaps. It shows how to construct both elementary and complex (Libor) zero curves. Options are described, illustrated and then priced using the Black Scholes formula and binomial trees. Finally, there is a chapter describing default probabilities, credit ratings and credit derivatives (CDS, TRS, CSO and CDO). An important feature of the book is that it explains this range of concepts and techniques in a way that can be understood by those with only a basic understanding of algebra. Many of the calculations are illustrated using Excel spreadsheets, as are some of the more complex algebraic processes. This accessible approach makes it an ideal introduction to financial products for undergraduates and those studying for professional financial qualifications.

Der weltweite wirtschaftswissenschaftliche Lehrbuch-Bestseller nun in deutscher Sprache.

Geschaftliche Vorhaben, Investitionen, Kapitalanlagen und Unternehmen zu bewerten, ist zu einer wichtigen Grundaufgabe in der Wirtschaft geworden. Die "richtige" Investition zu wahlen und die "falsche" zu meiden, ist eine Entscheidungsaufgabe hohen Ranges unserer Gesellschaft, und auch sie setzt die Bewertung der jeweiligen Vorhaben voraus. Die Unternehmensbewertung - ein etabliertes Fach der Betriebswirtschaftslehre - verlangt es, zukunftige und unsichere Geldbetrage zu diskontieren, Kapitalkosten zu bestimmen, und zu verstehen, mit welchen Bewertungsansatzen Projekte und Unternehmen bewertet werden konnen. Das Lehrbuch erlautert die grundlegenden Ansatze der Unternehmensbewertung, so die als Best-Practice betrachtete DCF-Methode. Ebenso werden Varianten und weitere Ansatze zur Unternehmensbewertung dargestellt, darunter das recht haufig angewandte Vorgehen ein Multiple auf eine Basisgrosse anzuwenden oder das in der Praxis hoch geschatzte Konzept der Residual Income Valuation."

Advancements in technology have created more opportunities for mobile applications in modern society. In the financial realm, these innovations provide better user experience and digital capabilities. NFC Payment Systems and the New Era of Transaction Processing provides a thorough examination on the impact of NFC payment technology on the convenience, flexibility, and usability of transactions. Including a range of pertinent topics such as network threats, operating modes, and data security, this publication is an ideal reference source for researchers, students, academics, professionals, and practitioners interested in the rise of mobile technology in financial systems.