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Finance is the study of value and how it is determined. Individuals, small businesses and corporations regularly make use of value determinations for making strategic decisions that affect the future outcomes of their endeavors. The importance of accurate valuations cannot be overestimated; valuing assets too highly will lead to investing in assets whose costs are greater than their returns, while undervaluing assets will lead to missed opportunities for growth. In some situations (such as a merger or an acquisition), the outcome of the decision can make or break the investor. The need for solid financial skills has never been more pressing than in today's global economy. The Fundamental Principles of Finance offers a new and innovative approach to financial theory. The book introduces three fundamental principles of finance that flow throughout the theoretical material covered in most corporate finance textbooks. These fundamental principles are developed in their own chapter of the book, then referred to in each chapter introducing financial theory. In this way the theory is able to be mastered at a fundamental level. The interactions among the principles are introduced through the three precepts, which help show the impact of the three principles on financial decision making. This fresh and original approach to finance will be key reading for undergraduate students of; Introduction to Finance, Corporate Finance, Capital Markets, Financial Management and related courses as well as managers undertaking MBA's.
A complete reworking of an established and successful seller.
The only book in the UK market designed for the manager,
entrepreneur or professional investor, to help them understand a
company or a competitor's accounts.
Although the need to expand the boundaries of financial reporting has been discussed since the mid-1990s, little consideration has been given to the evolution and discourses of integrated reporting of non-financial aspects. Yet by investigating how and why an organisation defines and its reporting boundaries, it is possible to understand what is truly "valued" (or not) in its business model. This innovative book reviews the guidelines and frameworks from the major relevant international organisations including: the International Accounting Standards Board, Global Reporting Initiative, Sustainability Accounting Standards Board, International Integrated Reporting Council, Carbon Disclosure Standards Board, and the World Intellectual Capital Initiative, and analyses their development and impact on the boundaries of financial and non-financial reporting. Illustrated with case studies and interviews with representatives of these organisations, this concise volume makes a significant contribution to the future of reporting theory and practice. It will be of great interest to advanced students, researchers, practitioners and policy makers.
"SAP Foreign Currency Revaluation-regulations, its impact, and what
it takes to implement it in SAP-is a single handbook that
simplifies a complex and daunting task of currency valuation for
SAP and other ERP implementers. A must-read "
The fully update "Third Edition" of the most trusted book on financial statement analysis
Recent financial events have taught us to take a more critical look at the financial disclosures provides by companies. In the "Third Edition" of "Analysis of Financial Statements," Pamela Peterson-Drake and Frank Fabozzi once again team up to provide a practical guide to understanding and interpreting financial statements. Written to reflect current market conditions, this reliable resource will help analysts and investors use these disclosures to assess a company's financial health and risks.
Throughout "Analysis of Financial Statements, Third Edition," the authors demonstrate the nuts and bolts of financial analysis by applying the techniques to actual companies. Along the way, they tackle the changing complexities in the area of financial statement analysis and provide an up-to-date perspective of new acts of legislation and events that have shaped the field.Addresses changes to U.S. and international accounting standards, as well as innovations in the areas of credit risk models and factor modelsIncludes examples, guidance, and an incorporation of information pertaining to recent events in the accounting/analysis communityCovers issues of transparency, cash flow, income reporting, and much more
Whether evaluating a company's financial information or figuring valuation for M&A's, analyzing financial statements is essential for both professional investors and corporate finance executives. The "Third Edition" of "Analysis of Financial Statements" contains valuable insights that can help you excel at this endeavor.
An all-encompassing guide to the elements and basics of fair value
With the important role fair value is playing in the creation of a converged set of global accounting standards, demand for products in this category is growing spectacularly. The elements and basics of fair value are covered, including risk, dealing with the SEC, and details on legal responsibility. In addition, sample financial statements are included, along with tables, recommended applicable techniques, and management checklists for those who are responsible for preparing and approving of financial statements.Written by the Chairman and co-CEO of the International Association of Consultants, Valuators and Analysts (IACVA)Includes sample financial statements of both U.S. and foreign companies
Appropriate for anyone involved professionally with finance--managers, accountants, investors, bankers, instructors, and students--"The Professional's Guide to Fair Value" is a reliable reference on the ins and outs of fair value financial disclosure.
What's the big deal about fixed assets?
If the PCAOB starts to review auditor work papers dealing with Property, Plant, and Equipment (PP&E) on a more intensive basis, will your organization be ready? What if fair value reporting for PP&E were required?
As timely as it is complete, Internal Control of Fixed Assets peels back the layers surrounding the often-complex topic of internal controls for PP&E. This nuts-and-bolts book provides authoritative, step-by-step guidance on developing a system of internal controls for fixed assets, covering:
IFRS versus GAAP: what you must know
Internal control, Sarbanes-Oxley, and the PCAOB
Capitalization and expense of PP&E
Depreciation for books and taxes
Contingent assets and liabilities
Internal auditing of PP&E
With up-to-the-minute discussion of IFRS and GAAP, this is a must-have guide for controllers, auditors, and CFOs, providing practical and proven advice on maintaining a functioning internal control system that will withstand the closest scrutiny from independent public accountants and, ultimately, the PCAOB. Get your existing system in order and stay far ahead of your competitors with the straightforward business analysis in "Internal Control of Fixed Assets."
Integrated Reporting is having a profound impact on corporate thinking and reporting. Value is being assessed on the basis of the sources of value creation used by an organisation and not through a financial lens alone. In Chief Value Officer: Accountants Can Save the Planet, Mervyn King, a global corporate governance and reporting leader, challenges some of the systemic issues preventing organisations from managing in an integrated value-creation way.The shareholder-centric governance model, currently favoured by most companies, will not result in changes to corporate behaviour that can create value in a sustainable manner. The book, therefore, firmly places the accountant in the position of changemaker - the finance professional today should be more of a value officer than a financial officer. Consequently, the Chief Finance Officer should be known as the Chief Value Officer.This book explains this new approach. It encapsulates the essential reasons for adopting integrated reporting, explains its application to date and proposes the next steps needed to achieve change that will improve business, social and environmental sustainability.
Praise for "Internal Audit Reports Post Sarbanes-Oxley: A Guide to Process-Driven Reporting"
"In a post-SOX era, internal audit plays a key role in helping
CEOs and CFOs to assess internal controls over financial reporting.
Effective communication, by way of issuing clear, crisp, and timely
internal audit reports, is essential to the speedy remedy of any
deficiencies representing high risk for the corporation. This book
serves as a tool box to improve such written communication from
"This is a cutting-edge book that should be of interest to
anyone associated with the internal auditing profession. The book
focuses on post-SOX issues as they relate to report writing and
emphasizes the critical importance of written communication in the
corporate world. The author's unique process-oriented approach
makes for a practical and readable end product that should prove
beneficial to a wide audience of accounting practitioners."
"Internal Audit Reports Post Sarbanes-Oxley offers a broad array
of practical tools and techniques to make internal audit
communications effective in the world of global business. By using
these techniques in their reports, e-mails, and phone
conversations, internal auditors can connect the dots for audit
committees and financial executives--and transform information into
"Written with humor, energy, and clarity, I hear her message on
each page. This will be avaluable tool to all auditors, and others,
who write financial reports."
Internal auditors are the front-line financial reporters for most companies. Now, in addition to logging their findings and making recommendations, they are required to link their findings directly to potential risks and accountability issues in accordance with the Sarbanes-Oxley Act. Brimming with commonsense advice delivered in a conversational, easy-to-read style, "Internal Audit Reports Post Sarbanes-Oxley: A Guide to Process-Driven Reporting" helps internal auditors and financial managers to transform raw data into useable information and to then translate that information into actionable messages while complying with SOX.
Is Purchase Price Equal to Fair Value?
With the FASB changing the requirements for increasing categories of assets and liabilities to be shown at current fair value, "Fair Value for Financial Reporting" answers this and other pertinent questions with crystal clarity. Alfred King, a top expert in the field, provides financial executives and auditors with a deep understanding of fair value reporting, the appraisal process, and appraisal services, and demystifies this topic with practical advice and helpful knowledge, making it a trusted reference on the ins and outs of fair value financial disclosure.
"Fair Value for Financial Reporting" highlights the accounting and auditing requirements for fair value information and offers a detailed explanation of how the FASB is going to change "fair value" with topics including: the FASB's fair value proposals; determining the fair value of intangible assets; whether fair value can truly be audited; valuation of liabilities and contingent payments; valuation of hard assets and real estate; why two appraisers come up with different results; auditing of valuation reports; and selecting and working with an appraiser.
"This is an impressive step in the development of company
reporting. The proposed reporting system, based on business
definition, business position, business reputation, and advanced
cash flow, is actually a revelation. It shows a new way to expand
today's business reporting systems, matching development trends in
society. I see it as a welcome and even necessary step to bring
company reporting in line with today's requirements."
"I just read Chapter Four . . . extremely interesting and very
much in tune with the needs of companies today. Especially the
parts about baseline reporting, business definition, and client
relationships. It is amazing how many important international
companies that I have done consulting for have such internal
disasters going on and apply very little of the concepts that you
speak of. I believe your book will be received very well and
hopefully be placed on required reading lists for business students
around the world."
"A true enterprise risk management process. Not only should this
book have an impact on how society and commerce look upon how we
create, preserve, lose, or destroy value and how we account for our
business activities, but also on the way we perceive and react to
risks and opportunities. Through their teachings and business
practices, the authors have significantly changed my own perception
of the vast variety of factors and circumstances (risks) that may
threaten the health and well-being of organizations."
"Accountingspecialists know that traditional accounting concepts
are no longer adequate to describe today's companies, but for the
most part they, and corporate managements themselves, have nothing
to replace the current system. Now, along come Hans V. A. Johnsson
and Per Erik Kihlstedt with Performance-Based Reporting, a clear
and convincing description of why the old system can't work and
what system can."
The successfully proven alternative system for relevant business reporting through performance management
Performance-Based Reporting shows businesses how traditional accounting fails to provide meaningful measures for performance and presents radically innovative and thoroughly tested methods for performance-oriented management, assessment, and reporting. Twenty-five years in the making, this helpful book also presents The Baseline Approach to management, assessment, and reporting--composed of eighty-percent accounting-free methods.
Performance-Based Reporting presents the culmination of intense experiments involving more than 1,500 businesses and over 4,000 executives. It definitively proves the need for new tools for realistic business planning and management in an unpredictable world. These tools already exist, and this helpful guide walks readers through the process of implementing them to help firms improve their ability to predict the direction they should take in the future.
Praise for Fraud and Abuse in Nonprofit Organizations
"Gerry Zack’s book is a valuable resource for those who manage, audit, or investigate charities and other nonprofits. It is packed with information that can be used to reduce the high cost of fraud in this sector and to prevent the related reputational damage that can hurt a nonprofit’s ability to raise funds. This book can help ensure a nonprofit’s funds are used to help the needy and not wasted on lining a fraudster’s pockets."
"This book should be required reading for all managers and boards of directors of nonprofits. No doubt, it will inspire many readers to take a fresh look at their organizations’ practices. Zack easily cuts through the fluff and zeroes in on the critical points. A rare find–an informative how-to guide for avoiding and detecting fraud, written in an easy-to-digest, conversational tone. Zack is a master at making antifraud and compliance issues interesting as well as informative. Great as a primer, refresher, and a reference to be consulted again and again. Following Zack’s advice has the potential for radically reducing the amount of fraud in nonprofits."
In a climate in which public trust is at an all-time low, nonprofit organizations and their directors must take action to prevent fraud and abuse before their good name–and financial support–is damaged or lost forever. Fraud and Abuse in Nonprofit Organizations provides decision-makers with the most comprehensive, hands-on look yet at nonprofit fraud and abuse, and outlines a fraud awareness and deterrence system designed to uncover and stop financial dishonesty before its damage becomes irreparable.
The failure of current mechanisms to either predict the collapse of various companies or curb corrupt practises has kept the subject of external reporting to the fore. Is Fair Value Fair? Financial Reporting in an International Perspective contains contributions from many highly-respected individuals involved in external reporting, regulation and standard setting. Their contributions discuss the future of
The new IFRS regulations coming into force in 2005 are set to radically change the various methods of financial reporting. Is Fair Value Fair? fully prepares readers for these changes and is an invaluable tool for corporate financiers and institutional investors with an interest in the regulatory environment.
Publishing the Nonprofit Annual Report offers your nonprofit organization hands-on guidance to help you create an annual report that goes beyond fulfilling your financial reporting responsibilities and instead becomes a valuable communications, marketing, and image-building tool. Written by Caroline Taylor--a consultant who has more than twenty years of experience producing award-winning annual reports--this essential guide takes you through the report-writing cycle from start to finish. Step by step, she shows you how to create a plan, fit the report process into the overall schedule, assign tasks, develop the executive message, work with designers to integrate visual elements, and get the report printed on time and within budget.
Sponsored by CompassPoint Nonprofit Services, formerly known as the Support Center for Nonprofit Management/ Nonprofit Development Center
Nothing can be more important to an organization's health and success than the quality of its financial reporting. This comprehensive guide is for all nonprofits that are required to comply with financial reporting standards set by the IRS and thirty-five state charity regulators (Form 990), FASB and AICPA (GAAP), grantmakers, and the like. It shows how to unify financial reporting requirements without compromising the organization's accuracy and accountability.
Navigate A Sea of Financial Complexity
Due to the intricacies of contemporary business transactions, the numerous standards issued by the Financial Accounting Standards Board (FASB), and the vast variety of accounting and disclosure practices with their ever-changing terminology employed by reporting companies, financial statements and related disclosures have become very complex. This complexity can impede the work performed and the decisions reached by all users of financial statements–especially equity and credit analysts. Guide to Financial Reporting and Analysis is designed to remedy this situation by offering practical, user-friendly guidance. Through the use of contemporary financial statement examples, extant generally accepted accounting principles are explained and their application is demonstrated. Here are indispensable resources, including:
. . . and much more, to help working professionals gain clarity and begin making better-informed decisions today by taking advantage of the rich treatment offered in this timely, much-needed guide.
Beyond the Numbers How Leading Companies Measure and Drive Success William L. Simon "This book stands at the intersection of management and money, the place where modern business fundamentals and current financial principles come together. Business managers have traditionally used accounting-based financials that looked backward, at the wake--showing where the organization had been; today, they are learning to use financials that look forward toward the horizon." --from the Preface Businesses can't afford to have a financial system which only measures its past. In order to build a successful company, you need a financial system that also shows you how to plan your company's future. This must-have book for executives, managers, analysts, and other stakeholders, will show you how to refine your current financials or thoroughly overhaul them. In Beyond the Numbers, you have the opportunity to profit from the experiences of CEOs and CFOs at market leading companies in a variety of industries. You will learn how to build a truly effective corporate financial system--one that:
As statements of a company's financial condition, balance sheets contain information vital to owners, investors, and financial managers who are charged with assessing company performance. Often complex and difficult to interpret, balance sheets are nonetheless essential because they help pinpoint business problem areas. Understanding Balance Sheets explains in a clear and concise manner all the major aspects of this important business tool, making it yours to implement easily and successfully.
Written by two financial and accounting authorities, this hands-on working reference enables you to understand a company's balance sheet within the context of its annual report. You'll find detailed information on:
Whether you're new to balance sheets, need a quick refresher, or require a knowledge that goes beyond the basics, this guide has it all. Understanding Balance Sheets is a thorough, accessible reference that you can't afford to be without if you need to get a handle on this essential financial tool.
Get a handle on balance sheets with this comprehensive reference that gives you the basics and beyond
From the authors who brought you indispensable guides to such financial fundamentals as cash flow, income statements, and return on investment comes a book that clarifies and explains the intricacies of another important tool: the balance sheet. Covering all its major aspects, Friedlob and Plewa give you a broad understanding of its individual elements, the related disclosures contained in an annual report, and the methods used to analyze a company's balance sheet. Here's where to turn for valuable information on:
Straightforward, comprehensive, and easy to follow, this is the guide you'll want for a complete overview of this vital business tool.
Established as a standard in the field, this revised edition contains expanded coverage of forecasting, joint ventures, REITS and other securitization transactions as well as the latest accounting regulations and developments. Features complete coverage of accounting for costs in real estate sales and investments, financial reporting and analysis.
An invaluable tool equipping healthcare professionals, auditors, and investigators to detect every kind of healthcare fraud
According to private and public estimates, billions of dollars are lost per hour to healthcare waste, fraud, and abuse. A must-have reference for auditors, fraud investigators, and healthcare managers, "Healthcare Fraud, Second Edition" provides tips and techniques to help you spot--and prevent--the "red flags" of fraudulent activity within your organization. Eminently readable, it is your "go-to" resource, equipping you with the necessary skills to look for and deal with potential fraudulent situations.Includes new chapters on primary healthcare, secondary healthcare, information/data management and privacy, damages/risk management, and transparencyOffers comprehensive guidance on auditing and fraud detection for healthcare providers and company healthcare plansExamines the necessary background that internal auditors should have when auditing healthcare activities
Managing the risks in healthcare fraud requires an understanding of how the healthcare system works and where the key risk areas are. With health records now all being converted to electronic form, the key risk areas and audit process are changing. Read "Healthcare Fraud, Second Edition" and get the valuable guidance you need to help combat this critical problem.
A one-stop resource for understanding and applying current International Financial Reporting Standards
The move to International Financial Reporting Standards (IFRS) is the single most important initiative in the financial reporting world, with more than 100 countries requiring or allowing the use of IFRS for the preparation of financial statements by publicly held companies. It is expected that by 2011, more than 150 countries will be converting to it.
It's clear that IFRS is here to stay--get the expert advice you need to properly implement IFRS with "Understanding IFRS Fundamentals: International Financial Reporting Standards."
Filled with easy-to-follow examples and case studies, "Understanding IFRS Fundamentals: International Financial Reporting Standards" is your handy resource to all things IFRS, presenting:
Authoritative advice and simple explanations of IFRS standards
Topical arrangement of issues of common interest to financial statement preparers and users
Extracts from published financial statements illustrating practical implications for applying IFRS
Guidance for finance professionals in more than 100 countries that have either adopted or adapted to IFRS
Simple explanations of complex standards
A practical reference with the answers to your issues of interest, "Understanding IFRS Fundamentals: International Financial Reporting Standards" serves as an essential resource for when you need information in a hurry.
Stay on track and focused with the straightforward guidance in "Understanding IFRS Fundamentals: International Financial Reporting Standards."
The fiscal market is an unpredictable torrent of information that modern organizations strive to understand. Business professionals dedicate themselves to understanding uncertain results around economic performance to improve management, reporting standards, and predict trends in financial statements. International Financial Reporting Standards and New Directions in Earnings Management is an essential reference source that discusses identifying the behavioral patterns of managers and the accounting policies they use in different opportunistic circumstances. Featuring research on topics such as earnings quality, risk reports, and investor protection, this book is ideal for regulatory authorities, accountants, impression managers, auditors, academics, students, and researchers seeking coverage on the theoretical, empirical, and experimental studies that relate to the different themes within earnings management.
This book investigates the legitimacy of the current Australian Financial Services Licensee-Authorised Representative (AFSL-AR) licensing model, as specified in the Commonwealth Corporations Act 2001. The book rectifies the deficiency in scholarly attention to this matter by developing a new conceptualised framework for the financial planning discipline. It takes into account theories in agency, legislation, legitimacy and the independent individual regulatory regimes in other professions; thereafter integrating this framework with the financial planning theory to examine the legitimacy, or what was found to be the illegitimacy of licensing advisers via multiple third party conflicted commercially oriented licensees. This book makes a very useful reference to understanding financial planning licencing model in Australia.
Good corporate governance practices are a crucial part of any successful business. "Financial Times Briefing: Corporate Governance "is a practical and accessible guide to everything you need to know about corporate governance: the key legal and regulatory points, current developments, discussion of the significant factors and an exploration of the link between corporate governance and business effectiveness.Whether you're a non-executive director, CEO, shareholder or auditor, the unique structure of this book will ensure that you get the targeted advice you need.
BPP Learning Media is an ACCA approved content provider. Our suite of study tools will provide you with all the accurate and up-to-date material you need for exam success.
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