Congress has tried to make higher education more affordable by providing favourable tax treatment to savings accumulated in qualified tuition programs (QTPs), also called Section 529 programs after their citation in the Internal Revenue Code. QTPs initially allowed individuals to save for qualified higher education expenses(QHEEs) on a tax-deferred basis. The Pension Protection Act of 2006 (PPA) made permanent the temporary enhancements to QTPs contained in the Economic Growth and Tax Relief Reconciliation Act of 2001. The enhancements include making qualified withdrawals from QTPs tax-free. One type of QTP, prepaid tuition plans, enables account owners to make payments on behalf of student beneficiaries for a specified number of academic periods/course units at current prices thereby providing a hedge against tuition inflation. States were the only sponsors of prepaid plans until Congress extended sponsorship to eligible higher education (private) institutions effective in 2002. States remain the sole sponsor of the more popular type of Section 529 program, college savings plans, which account for most of the $105.7 billion in QTP assets as of December 31, 2006. College savings plans can be used toward a variety of QHEEs at any eligible institution regardless of which state sponsors the plan or where the beneficiary attends school. In contrast, if beneficiaries of state-sponsored prepaid plans attend out-of-state or private schools, the programs typically pay the same tuition that would have been paid to an eligible in-state public school. Also unlike prepaid plans, in which the state plan invests the pooled contributions with the intent of at least matching tuition inflation, college savings account owners can select from a range of investment portfolios. College savings plans thus offer the chance of greater returns than prepaid plans, but they also could prove more risky. Additionally, college savings plans charge fees (e.g., enrolment fees and underlying mutual fund fees) that lower returns -- more so for accounts opened through investment advisors (e.g., sales charges). The level of these fees vis-a-vis the tax savings, the extent and manner of fee disclosure across plans, and the role of federal regulators in this area was the subject of oversight during the 108th Congress. (More recently, the 109th Congress included in the PPA enactment of Section 529(f). It charges the Secretary of the Treasury with developing regulations to prevent abuse of Section 529 and to carry out its purposes in general. The Internal Revenue Service currently is developing a notice of proposed rule making, which will include portions of the 1998 proposed regulation and anti-abuse rules.) Both types of Section 529 programs have several features in common beyond qualified withdrawals being tax-free. Earnings not applied toward QHEEs (eg: the beneficiary forgoes college) generally are taxable and subject to a penalty. The tax and penalty can be avoided if account owners designate a new beneficiary who is an eligible relative of the original beneficiary. Account owners, rather than beneficiaries, maintain control over the funds. Contributions are not deductible on federal tax returns.

The definitive guide to capital markets regulatory compliance Governance, Compliance, and Supervision in the Capital Markets demystifies the regulatory environment, providing a practical, flexible roadmap for compliance. Banks and financial services firms are under heavy regulatory scrutiny, and must implement comprehensive controls to comply with new rules that are changing the way they conduct business. This book provides a way forward, with clear, actionable guidance that strengthens governance at all levels, and balances supervisory and compliance requirements with the need to do business. From regulatory schemes to individual roles and responsibilities, this invaluable guide details the most pressing issues in today's financial services organizations, and provides expert advice. The ancillary website provides additional tools and guidance, including checklists, required reading, and sample exercises that help strengthen understanding and ease real-world implementation. Providing both a broad overview of governance, compliance, and supervision, as well as detailed guidance on application, this book presents a solid framework for firms seeking a practical approach to meeting the new requirements. Understand the importance of governance and "Tone at the Top" Distinguish the roles of compliance and supervision within a financial services organization Delve into the regulatory scheme applicable to broker dealers, banks, and investment advisors Examine the risks and consequences of inadequate supervision at the organizational or individual level The capital markets regulatory environment is complex and ever-evolving, yet compliance is mandatory. A solid understanding of regulatory structure is critical, but must also be accompanied by a practical strategy for effective implementation. Governance, Compliance, and Supervision in the Capital Markets provides both, enabling today's banks and financial services firms to get back on track and get back to business.

This book provides the reader with an introduction to Public Governance. To achieve such goal it enlarges upon six broad issues, each of them requiring a whole chapter: The semantics of Public Governance; The analytical framework and underlying logic of Public Governance; The Public Governance toolbox; How governance structures carry out their brokerage of asymmetric information; Dual governance and the case of state-owned banks; Globalising Public Governance; Each chapter includes a section with revision questions, whereas some of them also comprise a technical appendix.

This book provides a clear and concise summary of the present state of the theory of inflation accounting for students and practitioners. It describes all of the main alternative methods of inflation accounting and illustrates them, using simple numerical examples. The theoretical and practical aspects of each method are discussed, in order to give the reader the framework within which he can evaluate the relative merits of the various practical solutions to the inflation accounting problem which are now being implemented in the UK, USA and elsewhere throughout the English-speaking world. The emphasis throughout is on a comparison of the relative merits of alternative systems, rather than aiming to give a single 'best' solution. Indeed the latter aim is seen as most probably illusory, because different types of accounting information may be needed for different purposes.

In diesem Open-Access-Buch erfolgt eine normative Auseinandersetzung mit der Bilanzierung von immateriellen Vermoegensgegenstanden nach HGB im Vergleich zu der Bilanzierung immaterieller Vermoegenswerte nach IFRS. Der Schwerpunkt der Analyse wird auf unterschiedlich ausgestaltete Kundenbeziehungen gelegt und gleichzeitig aktuelle Sachverhalte, bspw. die bilanzielle Behandlung von Kryptowahrungen und Cloudprodukten, thematisiert. Der Begriff des immateriellen Vermoegens nach GoB und IFRS wird anhand einer intensiven Auseinandersetzung mit den zugrunde liegenden Rechnungslegungskonzeptionen und den bisherigen Entwicklungen des immateriellen Vermoegensbegriffs kritisch evaluiert und darauf aufbauend eine punktuelle Weiterentwicklung der Konkretisierung fur strittige bzw. bislang ungeklarte Sachverhalte erarbeitet. Durch einen Ruckgriff auf die Property-Rights-Theorie wird daruber hinaus eine alternative Konkretisierungsmoeglichkeit untersucht.

The story of the perpetrators of some of the most dizzing and daring financial machinations.

Joerg OEkonomou und Carsten Scherer veranschaulichen praxisnah, wie sich mit statistischen Verfahren der Zahlaufwand im Vergleich zur Vollinventur erheblich verringern lasst und sich Aufnahmefehler gleichzeitig minimieren. Auch die Anwendung auf unterjahrige Bestandskontrollen wird erlautert. Im zweiten Teil des Buches wird erklart, wie die Bestandsplanung und -optimierung durch Systemunterstutzung einfacher und verlasslicher wird. Dieser Quick Guide zeigt die Optionen und Umsetzungsmoeglichkeiten der Methoden auf. Das Werk ist kein Statistik-Buch, sondern es ist gedacht fur Praktikerinnen und Praktiker, die Prozesse optimieren wollen. Fur diese zweite Auflage wurde es vom knappen Springer essential zum kompakten, umsetzungsorientierten Quick Guide erweitert.

Dieses Lehrbuch vermittelt einen umfassenden UEberblick uber die zentralen Ansatze des strategischen Managements von Unternehmen. Kompakt, anschaulich und praxisrelevant stellen die Autoren das Wesen, die zentralen theoretischen Ansatze und die Gestaltungsaspekte der strategischen Unternehmensfuhrung dar. Diese reichen von der Strukturierung der Unternehmensziele, der Strategie der Marktsegmentierung und Geschaftsmodellkonzeption, uber ressourcen-, wert- und wachstumsorientierte Unternehmensfuhrung hin zu Wettbewerbsanalyse und -strategie, strategischen Planungstechniken und dem Management des Wandels. Fallstudien, Praxisbeispiele und Kontrollfragen zu jedem Themenbereich regen die Diskussion im Anwendungszusammenhang an und zeigen den Lesern neue Perspektiven der strategischen Unternehmensfuhrung auf. Das Buch deckt diejenigen Anforderungen ab, die fur das Modul "Unternehmensfuhrung" in der Hochschullehre gestellt werden. Es richtet sich an Studierende und Dozenten von Dualen Hochschulen, Fachhochschulen und Universitaten sowohl betriebswirtschaftlicher, technischer als auch sozialwissenschaftlicher Bachelor-Studiengange. Die dritte Auflage wurde um diverse strategietheoretische Konzepte erganzt (u. a. "Geschafts-modelle" und "Disruption", "Blue Ocean Strategy" und "Non-Market Strategy"); die Ausfuhrungen zur Spieltheorie, zur Unternehmenskultur, zur wertorientierten Unternehmensfuhrung und zur Charta des Managements von Veranderungen wurden erweitert. Daruber hinaus sind weitere Praxisbeispiele aufgefuhrt bzw. aktualisiert.

The essential companion to Corporate Fraud and Internal Control, complete with review exercises for key concepts

Used together with "Corporate Fraud and Internal Control: A Framework for Prevention," this "Workbook" tests readers' knowledge of the subject with a focus on the appropriateness of the design of the system of internal controls in fraud risk mitigation, as well as the mechanisms to ensure effective implementation and monitoring on an ongoing basis. This "Workbook" includes step-by-step exercises and tests to help the reader master the techniques in fraud prevention and detection.Companion to "Corporate Fraud and Internal Control: A Framework for Prevention"Includes step-by-step exercise and testsProvides discussion-based case studiesFeatures the necessary tools that companies need to combat fraud

Written by a fraud prevention leader, "Corporate Fraud and Internal Control Workbook" features a fill in the blanks structure, followed by a short answer section, and ending with a discussion based series of case studies covering the following topics.

Dieses Lehrbuch befasst sich mit der konzeptionellen Gestaltung und den Einsatzbedingungen von Rechnungs- und Informationssystemen im Unternehmen. Themen sind Methoden und Instrumente der Kosten- und Leistungsrechnung, des Kostenmanagement und des Controlling. Das Buch stellt drei Hauptfunktionen in den Vordergrund: 1. Entscheidungsrechnungen: Analysiert werden entscheidungstheoretische Grundlagen, Produktionsprogrammplanung bei Sicherheit und Unsicherheit, Preisbestimmung, Break-even-Analysen, Beziehungen der internen Unternehmensrechnung zur Investitionsrechnung, Instrumente des Kostenmanagement und Lebenszykluskostenrechnungen. 2. Kontrollrechnungen: Im Mittelpunkt stehen die Berechnung und die Auswertung von Abweichungen sowie Anreizwirkungen von Kontrollen. 3. Koordinationsrechnungen: Untersucht werden Konzepte und Wirkungen von Budgetierung, von Kennzahlen zur Performancemessung und von Verrechnungspreisen. Systeme der Kostenrechnung und Aspekte der Digitalisierung runden das Lehrbuch ab. In der Neuauflage wurden Adaptionen in mehreren Themenbereichen vorgenommen sowie aktuelle Entwicklungen in der internen Unternehmensrechnung eingearbeitet.

In diesem Buch erfolgt die Ausarbeitung eines im Sinne der kaufmannischen Rechnungslegung zweckadaquat ausgestalteten Hochschulrechnungswesens, das insbesondere auch hochschulspezifische Sachverhalte einer Loesung zuzufuhren vermag. Auf der Grundlage kaufmannischer Jahresabschlusse aus unterschiedlichen Bundeslandern werden zunachst bestehende Unterschiede in der Rechnungslegung der Hochschulen aufgezeigt. Im Hinblick auf Sinn und Zweck der kaufmannischen Rechnungslegung werden unterschiedliche Vorgehensweisen in einer vereinheitlichten Ausgestaltung zusammengefasst. In diesem Zusammenhang sind auch die Governance-Strukten im Steuerungsverhaltnis zwischen den Bundeslandern und den oeffentlichen Hochschulen in der Entwicklung des Rechnungslegungssystems berucksichtigt.

Die Bilanzierung von Pensionsverpflichtungen hat grosse Auswirkungen sowohl auf das Eigenkapital eines Unternehmens als auch auf Erfolgsgroessen wie EBIT, Jahresuberschuss, Cashflow. Fur die Einschatzung des Unternehmenserfolgs oder die Analyse der Kreditwurdigkeit sind die pensionsrelevanten Informationen von wesentlichem Interesse. Das Werk zeigt, wie man Pensions- und weitere Personalverpflichtungen richtig in den unterschiedlichen Rechenwerken nach handels- und steuerrechtlichen sowie internationalen Regelungen abbildet. Die Neuauflage enthalt die aktuelle Rechtsprechung und neue Richtlinien.

"The world's number-one Fibonacci trading guru delivers a revolutionary new system for finding that one, great trade a day"

Using the revolutionary, easy-to-learn methods outlined in this book, the full power of Fibonacci trading will be yours to command. Michael Jardine, one of the world's acknowledged experts on Fibonacci trading and author of the international bestseller, "New Frontiers in Fibonacci Trading," draws upon his decades of experience with Fibonacci trading theory and practice to develop a simple, easy-to-use system that allows you to find that one great trade a day that every trader hopes for--day after day, year after year. Combining his original Jardine Range and what he has dubbed the "Universal Chart," Jardine's trading system will deliver greater consistency and objectivity to your trading, indicate key trend reversals, optimize your exits and much more. Clearly explains how to use the Universal System right out of the box with any trading instrument and in any time frameDemonstrates how to use the system in conjunction with other tools and strategies to complement your current trading methodologyShows how to use Market Profile(TM) and Points of Control to more reliably determine comfort levels in the markets and anticipate trending moves with uncanny accuracy Uses detailed simulations to help clarify the theory behind the Universal System and to let you observe how it works in practicePacked with real-life examples Jardine's and includes a 500-day trading summary/journal demonstrating just how profitable this time-tested system has been for him

Die in diesem Band vorgelegten Beitrage verorten das Controlling im Spannungsfeld von Digitalisierung und Nachhaltigkeit aus konzeptioneller und empirischer Perspektive: In Anbetracht aktueller weitreichender Veranderungen sieht sich das Controlling mit einer Vielzahl von Anwendungsfeldern konfrontiert, die nicht nur die Controller-Rolle massgeblich verandern, sondern auch Familienunternehmen und Klein- und Mittelunternehmen vor besondere Herausforderungen stellen. Dieser vielschichtigen Problemlage wird der Band mit einem klaren Wissenschafts- und Praxisbezug gerecht: Empirische Befunde qualitativer und quantitativer Art werden theoretisch fundiert dargelegt sowie durch praktische Beispiele, Fallstudien und Praxisempfehlungen erganzt.

Protect your clients - and yourself - from all kinds of financial chicanery and stupidity with this vital new book

It doesn't matter if a financial error was made because of malice or ignorance - the end result is that you lose money. Luckily, you don't have to sit idly and take it." "If you have "Protecting Clients from Fraud, Incompetence and Scams," you can identify and avoid the dysfunctional sectors of the financial industry, steer clear of the fallout from the Madoff Era, and guide your clients to real, healthy, sustainable returns. This powerful book
Pinpoints dysfunctional sectors within the financial industry and offers advice against frauds and scammers Shows how a team approach to asset management can ward off financial predators Offers practical strategies and tools to combat client risk for Risk and Asset Management

Offering insightful information to protect your clients from all sorts of frauds and incompetence, this essential guide equips you with tips and techniques to spot the red flags of fraud and prevent it before it starts.

Ziel dieses Lehrbuchs ist eine kompakte und zugleich verstandliche, da anwendungsbezogene Darstellung wesentlicher Regelungsinhalte der IFRS. Es richtet sich an Studierende und Praktiker, die sich in kurzer Zeit und nachhaltig grundlegendes Wissen uber die internationale Rechnungslegung aneignen wollen. Die wesentlichen Inhalte werden mittels praxisnaher Beispielkonstellationen erlautert. UEbungsaufgaben und Musterloesungen am Ende eines jeden Kapitels bieten die Moeglichkeit, das erlangte Wissen unmittelbar zu uberprufen.

These 101 questions, including twenty-five case studies, will challenge you to master the essential aspects of successful trading. Be sure to work through this companion volume to Entries & Exits: Visits to Sixteen Trading Rooms before you risk a dollar in the markets.

Each of the seven chapters in this Study Guide for Entries & Exits--Organization, Psychology, Markets, Trading Tactics, Money Management & Record-Keeping, Case Studies, and Traders Speak--covers a major area of trading. Every chapter includes a rating scale, allowing you to measure your competence level. Now, you can discover and fill dangerous gaps in your knowledge without risking any money.

The comments in the back of the book provide detailed explanations of the right and wrong answers to the multiple-choice questions. A large number of those questions and the case histories in this Study Guide were contributed by the traders interviewed in Entries & Exits, combining both books into a single, powerful tool for developing effective trading skills.

Use Dr. Elder's Study Guide together with Entries & Exits to learn how to make the most of market opportunities.

This accessible yet rigorous book examines the development of 'financial socialism' in advanced capitalist economies in the decade since the global financial crisis of 2007-2009. This new term refers to an attempt to resolve the accumulation crisis of capital through coordinated central bank activism, where state circuits of monetary capital assume a critical role in the reproduction of capitalist social relations. The book explains the dynamics of the crisis as it has developed and assesses the response of monetary elites to systemic financial risk in the global economy. Their failure to re-engineer growth following the technology boom of the late 1990s and the global financial crisis are driving fundamental changes in the form and function of capitalist money, which have yet to be theorized adequately. Finance, Accumulation and Monetary Power presents a revealing and radical critique of the failure of the International Political Economy to apprehend changes taking place within capitalism, employing a critical-theoretical analysis of contradictions in the capitalist reproduction scheme. The book will be of key interest to scholars, students and readers of international political economy, critical political economy, heterodox economics, globalization, international relations, international political sociology, business studies and finance.

Practical options pricing for better-informed investment decisions. The Heston Model and Its Extensions in VBA is the definitive guide to options pricing using two of the derivatives industry's most powerful modeling tools the Heston model, and VBA. Light on theory, this extremely useful reference focuses on implementation, and can help investors more efficiently and accurately exploit market information to better inform investment decisions. Coverage includes a description of the Heston model, with specific emphasis on equity options pricing and variance modeling, The book focuses not only on the original Heston model, but also on the many enhancements and refinements that have been applied to the model, including methods that use the Fourier transform, numerical integration schemes, simulation, methods for pricing American options, and much more. The companion website offers pricing code in VBA that resides in an extensive set of Excel spreadsheets. The Heston model is the derivatives industry's most popular stochastic volatility model for pricing equity derivatives. This book provides complete guidance toward the successful implementation of this valuable model using the industry's ubiquitous financial modeling software, giving users the understanding and VBA code they need to produce option prices that are more accurate, and volatility surfaces that more closely reflect market conditions. Derivatives pricing is often the hinge on which profit is made or lost in financial institutions, making accuracy of utmost importance. This book will help risk managers, traders, portfolio managers, quants, academics and other professionals better understand the Heston model and its extensions, in a writing style that is clear, concise, transparent and easy to understand. For better pricing accuracy, The Heston Model and Its Extensions in VBA is a crucial resource for producing more accurate model outputs such as prices, hedge ratios, volatilities, and graphs.