Book Description

The Fourth Edition of Financial Accounting teaches accounting from both the preparer and user perspective.To lead students to a full understanding of the impact of financial statements on business decision-making, the authors use the financial statements from Winnebago Industries throughout the chapter and end of chapter material.Porter/Norton is unique in that it also uses a competiting company to Winnebago, Monaco Coach, to do comparative financial analysis; this is reflected throughout the text and in end of chapter problems. ... Read more

Book Description

Betsy Burton, owner of The King's English bookstore in Salt Lake City, has been a bookseller for nearly thirty years, and a passionate book lover all her life. ... Read more

Reviews (2)

INSIGHTFUL BOOK LISTS AND MUCH MORE
Betsy Burton's bookstore in Salt Lake is one of those places you'd like to just hole up in for a week, drinking in the atmosphere while devouring a few dozen books.I've never met anyone so knowledgeable about books.What a delight that she has now shared her adventures and challenges as an independent book seller in a readable and delightful book of her own.Her book lists alone make the book a great value. The next best thing to knowing Betsy and her bookstore is to delve into the pages of this charming volume.

Delightful look at owning a bookstore.
If you ever dreamed of owning a bookstore, this wonderful book is athoughtful look inside the business.Betsy opened the King'sEnglish in 1977 and this is a history of what we all hope will be the first 25 years of the store.If you've never been to the store, it is exactly what you dream a bookstore will be.All the books you want to read, knowledgable booksellers who have actually read the books and can recommend others.Betsy and her store is the reason I love books.She learned my tastes and expanded my horizons (which were then mostly true crime ack!)

The book is often witty, sometimes profound and always delightful.It's not only about the store but the state of bookselling in America and all the many authors who have signed books at the store.But perhaps the best thing is the dozens of lists of favorite books by category collected from independent booksellers all around the country.

Bravo for a brave touching story. ... Read more

Book Description

Named by Inc. and Forbes magazines as one of the top ten essential books for small business, this fully revised and updated fourth edition of The Successful Business Plan: Secrets & Strategies is a complete, step-by-step guide to researching and writing a fool-proof, perfectly formatted, knock-'em-dead business plan.

Required reading at America's top business schools, it's been called "the entrepreneur's bible," having helped hundreds of thousands of successful business people get the funding they need to launch their businesses.

With a foreword by legendary venture capitalist Eugene Kleiner, The Successful Business Plan is packed with insider tips and insightful advice on writing and formatting a business plan that will stand out from the crowd.

Book features:

99 worksheets to help you get started quickly, taking you through every critical section of a successful business plan

Sample business plan offering guidance on length, style, formatting and language

The Abrams Method of Flow-Through Financials, which makes easy work of number crunching — even if you're a numbers novice

Special chapters addressing issues of concern for service, manufacturing, retail, and Internet companies

Added help for teams and students preparing business plans for classes or competitions

Nearly 200 real-life insider secrets from top venture capitalists and successful CEOs – learn what truly impresses funders

New chapter on starting a business in a challenging economy ... Read more

Reviews (21)

The new 4th edition is outstanding.
This is simply the best business planning guide on the market. I teach entrepreneurship classes and have used prior editions in my classes, but I'm really impressed with this new edition and how it reflects the realities of business planning in the post-dot-com era. There's a new chapter on seeking funding in a recession, which is the most frequent question I'm asked by my students now.

The other thing I like about the new edition is the Excel templates for generating the business plan's financials. They work exactly like the worksheets in the book, which lessens the learning curve. BUT, you have to buy the templates separately from the publisher's website.

All in all, a great update to an already excellent book. Highly recommended.

Good starting point and reference
I have probably purchased 5 business plan books over the last year. I have also purchased a couple of business plan software programs (both unsatisfactory). None can be considered a definitive "best" book or resource. Each one has strengths and weaknesses, and anyone searching for a drop-in guide should re-think their goals. Abrams book, on the whole, is certainly one of the better business plan books. The advise and focus of the content are very salient to anyone out there looking for OPM.

Great for someone with little accounting experience!
I was so scared of writing a business plan that I put it off for as long as I could (nearly a year!). But my potential investor made it clear that I would have to bite the bullet. I owe Abrams a huge "thank-you" for making the business plan writing process something that could be done thoroughly, efficiently, and done well--and didn't take me too long at all. But the best part is that you can download finacial spreadsheet templates from the publisher's website!!

I am the kind of person who has an idea and just wants to run with it; I have a hard time figuring out specifics and financial realities. Between the book (which explained exactly what I needed to know about target markets, competition, cost-benefit analysis and the like) and the downloadable spreadsheets (which did all of the math, and carried the numbers through to all of the projection sheets and balance sheets and income statements and such, and took care of all of the formatting--just print and go!), I was able to write a top-notch, professional-looking business plan (if I do say so myself!) to present to my potential investor, and to the bank when I go to apply for a loan! And I won't feel embarassed by my lack of experience--at least, my business plan won't convey it. Plus, it's really important to go through the process of writing a business plan (and Abrams addresses this in the book) so you can really get a good, clear, structured idea of what you're doing, how you need to do it, and why you're starting a business in the first place.

Best business plan book out there
I was assigned this book for an Exec.MBA class, and it's one I'm going to keep after I sell a lot of my other books back. I've had to do business plans for the corporation I work for and for a friend's business, and I've looked at tons of books, and this is just the best one out there. If you go to the publishers website you can also get Excel templates so filling out the financial forms is straightforward and they're also best-of-breed. This is the book to use if you want to impress a boss, professor, or investor.

Not as helpful as I had hoped....
I did not find this book as helpful as I was hoping. First, and most importantly, I needed more examples. There was only one and it was a service organization and I needed to see an example of a manufacturing organization where the target customer was not so geographically limited. Also, I found that the way the book is organized was difficult. I felt the book was more oriented toward helping someone sort out their thoughts and feelings about starting a business than it was focused on actually structuring and writing a business plan. What I actually need are the hard, factual mechanics of writing a business plan and I did not find it to my satisfaction in this book. ... Read more

Book Description

SAP's FI/CO (Financial and Controlling) is the company's most popular package. This in-depth guide for implementers, consultants, and IS managers covers how to identify the business needs of the planned installation and then how to go about customizing the system accordingly. The book covers many topics not addressed in other books, including dealing with foreign currencies, and is up-to-date for version 4.X. The authors are full-time SAP consultants at a major insurance company. ... Read more

Reviews (20)

Insightful
I have used this book as a reference tool since it has been released and have leafed many pages. I have attended many sap training classes and while in the classes I feel that I have a firm grasp on the specific topic, applying the skills down the road, I have attempted to use the training materials you are sent home with, but have found in most areas that the training materials concern themselves with isolated areas and are far too technical. This book has proven to be a readable yet insightful text. Additionally, chapters are referred to each other in the same manner that modules within FI/CO interact. I recommend this book to anyone configuring SAP.

One of the best SAP books I have read
Configuring SAP FI/CO is a very complete book. Here you can find all the principal matters in configurins a SAP System. In addiction, the autor refers the transaction code of every option (very, very useful).

Good Reference, what ever be the SAP version you use
Most of the books available are just describing the functionalities of FICO instead of giving you the REAL nitty-gritty involved in configuring a particular option. Some say that the book is out-dated with screen shots from 3.x. Fine, but do you have any other book in the market which gives you the essential basics from configuration point? And, I am sure the basics have not changed, much, inspite of latest releases.

This book proves to be a winner for every one - the FICO beginner-consultant, experienced consultants, cross-functional consultants, users etc

Till such time some one comes up with another book, with latest versions' screen-shots and with asset accounting/product costing put together in the same volume, this is the ONLY book any one can refer to in FICO configuration.

Obsolete!! This book is for a very old system, release 3.
What version of SAP are all theses people using? Most production systems are using 4.6c or higher. This book is for 3.0. Almost all the screens and menu paths have changed. This was a good book in it's day. But that day has long past. This book must be updated to version 6.20. Can someone suggest a current FI/CO book?

This is a MUST HAVE.
I have found very few "nuts and bolts" type books on the market for SAP so when I ordered this one I was prepared for disappointment. It has, however, been a terrific reference manual! I have made a number of configuration changes to the system and when a glitch has appeared at testing this book has usually had the answer. I wish the other modules had similar texts. ... Read more

Book Description

Investment performance measurement is the quantification of the results achieved by an investment program. Understanding performance measurement is vital for anyone who participates in the investment process. Investment Performance Measurement is a comprehensive and integrated survey of the steps taken to measure performance as well as a reference guide to the calculation and interpretation of the various risk and return statistics commonly encountered by anyone responsible for selecting, monitoring, and evaluating the performance of investment managers.

Written in a clear and accessible style, with each concept developed through fully worked examples, this book is a valuable guide that provides you with critical insights into many areas of this important step in the investment management cycle.

This straightforward and well-rounded resource provides a step-by-step guide to the processes used by practitioners to analyze the performance of an investment portfolio.

Topics include:

• Calculation of the returns earned by portfolios and portfolio managers
• Measurement of the risks taken to earn these returns
• Measurement of the risk and return efficiency of a portfolio
• Attribution of value added over the benchmark to management decisions
• Presentation and interpretation of returns calculated using industry standards

Filled with in-depth spreadsheet examples, Investment Performance Measurement gives you all the information you’ll need to understand and implement the techniques used to measure the performance of an investment. ... Read more

Reviews (4)

Best book on investment performance measurement
I have read many books on this subject. This book is the best. It's well written, easy to understand, but in much detail.

Some other books only cover some calculation of returns, but this book covers all the subjects that matter to investment performance measurement: Return Measurement, Risk Measurement, Efficiency and Skill Measurement, Performance Attribution and Performance Presentation.

This book is not expensive. Good value for your money.

Anne-Mei-Ling
Indexfund Investment Group BV analyst

Clear and Concise
Excellent presentation of performance measurement. Great for the novice to advanced reader. Very concise yet thorough as well as a focused text. Calculations are clear with plenty of examples which makes this text very user-friendly. The reader can quickly begin to implement the formulas. Highly recommend to anyone interested in this important topic.

A great reference to have....
I find myself referencing Feibel's performance algorithms quite often. The book overall is well written, easy to follow, and quite organized. I recommend it to anyone that needs a good handbook alongside them or is new to performance calcs.

An education and refresher course!
It is about time that a text like this has been made available. There are others out there, but none that cover the breadth and detail required to understand what is relevant today. Covering everything to how returns are calculated, and then moving on up to other more complex issues such as risk and attribution - it lays it all out, along with clear examples to support the text. It should sit as a reference tool on anyone's desk who works in investment management. ... Read more

Book Description

Successful methodology for identifying earnings-related reporting indiscretions

Creative Cash Flow Reporting and Analysis capitalizes on current concerns with misleading financial reporting on misleading financial reporting. It identifies the common steps used to yield misleading cash flow amounts, demonstrates how to adjust the cash flow statement for more effective analysis, and how to use adjusted operating cash flow to uncover earnings that have been misreported using aggressive or fraudulent accounting practices.

Charles W. Mulford, PhD, CPA (Atlanta, GA), is the coauthor of three books, including the bestselling The Financial Numbers Game: Identifying Creative Accounting Practices. Eugene E. Comiskey, PhD, CPA, CMA (Atlanta, GA), is the coauthor of the bestselling The Financial Numbers Game: Identifying Creative Accounting Practices. ... Read more

Book Description

To accommodate sweeping global economic changes, the risk management field has evolved substantially since the first edition of Value at Risk, making this revised edition a must. Updates include a new chapter on liquidity risk, information on the latest risk instruments and the expanded derivatives market, recent developments in Monte Carlo methods, and more. Value at Risk, Second Edition, will help professional risk managers understand, and operate within, today’s dynamic new risk environment. ... Read more

Reviews (18)

Still useful as reference but check out the competition
Currently the VaR literature is cluttered with books all clamoring for your attention. Thus the potential student of the subject is blessed with being in a position to make a choice. The 'reader from New York' provided a good overview of the relevant literature. IMHO, this book tried to hit a balance between breadth of coverage (different models in practice) and depth (rigour), but the result is a compromise that leaves neither the student of the subject nor the practitioner satisfied. Since other reviewers have done such a good job dissecting this book, I will just concentrate on recommending the books that I feel are better values: For beginning students I feel Kevin Dowd's provides a good overview of the VaR literature in a clear and concise way. For pracitioners and more advanced risk mangement students, I HIGHLY recommend Glyn Holton's new Value-at-Risk Theory and Practice book. His approach is totally refreshing. Instead of starting at the top of the pyramide (the value-at-risk metrics), he starts out at the bottom. He breaks down VaR into its most basic elements. By providing a detailed explanation of difference between exposure and uncertainty, he introduces readers to the mathematical and probabilitistic background material needed to formulate the VaR measure (methodology) and the metrics (resulting VaR value). Both Kevin Dowd and Glyn Holton's presentations are organized and their writing are crisp and easily understandable. You won't go wrong with either book.

No longer useful
The first edition was for a while the only book on the subject. As such, it had to be the best. But, at that time, RiskMetrics VCV approach was the only approach. Jorion analyses this approach in detail, and derives many results (for example, attributing risks, etc.). He then implies by omission that they work for other methods, they don't. He also implies by omission that RiskMetrics is the absolute greatest, it isn't - it's probably now the weakest method. Surveys show that now only 10% of banks worldwide are using this method - and the numbers are falling.

There is nothing about coherence, the problems with VaR, the fundamental problems with using it to allocate risks to portfolios...
There was no reason to bring out a new edition.

Good Book for sophisticated investment analyst
Good Book for sophisticated investment analyst

Value at Risk
The financial and banking sectors have changed dramatically over the last two decades. The traditional commercial banks are shying away from loans and relying on riskier (??) products such as derivatives to bolster the income. Non-bank financials have been consistently adding products and product lines to their inventory (insurance & loans??). As these firms change themselves, their need for risk measurement and management has also increased which in turn has driven the advances and increased focus on Value at Risk type concepts during this time.

Despite improvements in measuring risk the newspapers are full of stories where risks have been mismanaged. Jorion?s introductory chapters on risk management failures are good at proving why risk management is important. I think beginners would find the chapters that define the different types of risks (credit, liquidity, operational, legal & market), the role of VaR in regulatory capital measurements, and the first part of the VaR discussion as being useful. The chapters that specifically deal with credit, operational, and liquidity risks are also important though the author does not cover these topics as deeply as he covers VaR.

I understand that this book used to be the bible for managing financial risk. I still think it?s an extremely useful book, but agree with some of the other commentators that it could have been more than it is. With an industry that changes as quickly as the financial sector you?d hope for some more detail on current trends and events besides Basel II. (Role of new products such as credit derivatives? Do firms really care about incremental VaR or Marginal VaR, and if they do when? When is it practical to use? How do firms use it? Who are the current leaders in the techniques?). I would also have liked to see more on reputational risk (how do firms decide if a product is appropriate for a client? how would the public perceive a firm?s transactions with a particular client? Enron and WorldCom are current examples).

The difficulty in writing about this subject is that it?s very easy to be too complicated and detailed for beginners but not complicated or detailed enough for professionals. For example, beginners may have difficulties with the material if they don?t understand basic financial concepts, but professionals are probably looking for more specifics on how these concepts are applied for specific products. I?d imagine that there aren?t many readers in that middle ground. This book is definitely geared more towards the professional.

Better Alternatives
This book was rushed into print following the release of JPMorgan's landmark RiskMetrics description of VaR. Like RiskMetrics, its focus is on explaining VaR to corporate end users. For a while, it was the only book available on VaR, so it became well known. A second edition added material on topics other than VaR, but did not update the treatment of VaR. By today's standards, the book is dated.

Now there are a number of excellent books available on VaR, and these cater to various audiences. Depending upon what you are looking for, they offer a more accessible, more sophisticated, or more up-to-date treatment of VaR.

For an elementary introduction, you can't beat Butler. Downplaying theory, he shows you practical spreadsheet examples you can use to implement basic VaR models. He explains related topics, such as probability distributions, delta and gamma, and the Monte Carlo method, so the book is self-contained.

Marrison's "Measuring Market Risk" describes VaR in the context of bank risk management. More sophisticated than Butler, this is a practical, "real world" book for people starting in bank risk management. Marrison ties VaR together with topics such as capital allocation, credit risk modeling and asset-liability management.

Holton is written for practicing risk mangers or researchers. Before it even publishes, it has made a splash on trading floors where dog-eared preprint copies have become a coveted item. Holton explains in detail things like delta-gamma VaR and variance reduction for Monte Carlo VaR -- topics other books only mention. Also, Holton is the only book that offers exercises.

For use of VaR in investment management, see Pearson's "Risk Budgeting." It introduces VaR and then explains how it can be used to allocate assets between investment categories or among managers -- this is known as risk budgeting. The focus of the book is a technique from calculus that allows you to decompose risks so that the parts sum to the whole. There isn't much else written on this topic, and Pearson offers the best treatment that I know of.

Finally, there is Dowd's "Beyond Value-at-Risk." This provides an excellent survey of the literature on VaR. It also covers related risk management topics, including credit risk management and risk-adjusted performance measurement. ... Read more

Book Description

Praise for Energy and Power Risk Management

"Energy and Power Risk Management identifies and addresses the key issues in the development of the turbulent energy industry and the challenges it poses to market players. An insightful and far-reaching book written by two renowned professionals."
–Helyette Géman, Professor of Finance
University Paris Dauphine and ESSEC

"The most up-to-date and comprehensive book on managing energy price risk in the natural gas and power markets. An absolute imperative for energy traders and energy risk management professionals."
–Vincent Kaminski, Managing Director
Citadel Investment Group LLC

"Eydeland and Wolyniec’s work does an excellent job of outlining the methods needed to measure and manage risk in the volatile energy market."
–Gerald G. Fleming, Vice President, Head of East Power Trading, TXU Energy Trading

"This book combines academic rigor with real-world practicality. It is a must-read for anyone in energy risk management or asset valuation."
–Ron Erd, Senior Vice President
American Electric Power ... Read more

Reviews (3)

Good overview
The management of risk in the context of energy or weather is quite different than in other contexts, due to the peculiarities of the data that occurs in energy prices. The high volatility of energy prices can range, as the authors of this book point out, between 50-100% for gas, to 100-500% for electricity. No doubt this kind of volatility, and other properties such as correlations and mean reversion, entails that some different mathematical strategies for modeling energy derivatives be devised. The authors give a good tour of some of these strategies, and anyone interested in energy derivatives will gain a lot of insight into their modeling when reading this book. Due to space constraints, only chapters 5 and 7, which this reviewer considered the most important of the book, will be reviewed here.

In chapter 5 the author presents techniques for energy modeling that go beyond the used of the convenience yield by using forward pricing techniques. The goal is to describe the dynamics of future contract prices that takes into account the correlations with other futures, and not on the price evolution of a single contract. Thus it is the 'forward curve' that is relevant for obtaining a useable model for derivative cash flow. The HJM model is presented as one of these, with changes in the forward curve over a particular time interval represented as a linear combination of random perturbations. For energy markets, each perturbation is specified by a deterministic shape function multiplied by a Gaussian factor. The unobservability of the factors determining the forward curve evolution makes the use of historical data mandatory if the parameters are to be estimated. But lack of sufficient historical data and its nonstationarity complicate this estimation. The authors discuss the Schwartz-Smith multi-factor model as an example of a forward curve dynamics model and give some solutions. They then move on to a model that specifies the dynamics for only the contracts that are actually traded, which in the literature are called 'market models.' The model they actually discuss is a multivariate geometric Brownian motion representation of the forward curve dynamics, where the volatility and drift functions are linear functions of the forward prices. The authors then derive the 'discrete string models', where it is assumed that the number of factors is equal to the number of contracts, and the random factors are governed by ordinary Brownian motion. String models are represented as having the advantage of being able to directly observe the factors in the historical data. The authors apply string models to multi-commodity cases, and discuss an example for monthly forward prices. They show how to match the current forward curve, the option prices, and the correlation structure for this model.

The discussion in chapter 7 revolves around finding better models for the dynamics of power prices that capture the special properties of energy prices, such as mean reversion and seasonality, and the need for stable models. They therefore introduce 'hybrid models', which they claim give a more natural representation of the dynamics of power prices, make use of nonprice forward-looking information, and can take the historical data on power prices and then extend it to information on fuel prices, outages, etc. The construction of these models is based on the use of nonlinear transformations on a collection of random variables. The random variables are essentially the system demand, natural gas and oil price, outages, emission prices, and weather at a particular time. The power price then can be written as a function of the dynamics of these factors, the latter written by the authors in terms of the corresponding tradables. Recognizing that hedging cannot be done on some of these factors, they adjust the power price formula so that the power tradables, i.e. the forwards and option prices, are exactly matched. This matching transformation is chosen so that if the forward contracts and options are priced using the adjusted formula, one recovers the exact current prices. The model, as the authors summarize it, is an attempt to explain the behavior of the tradables in terms of the evolution of the underlying factors and static adjustments to the terminal probability distribution. Historical information on the tradables and spot products is not used to calibrate the model, but it is used to validate the model. The authors distinguish between 'reduced-form' hybrid models, where the transformation is calibrated from the historical prices, and 'fundamental' hybrid models, where the transformation is calibrated from the market structure and is only tested on the historical prices. The authors discuss an example of a reduced-form hybrid model that is heavily parametrized, but has the advantage of using price data more efficiently. The rest of the chapter concentrates on fundamental hybrid models, with the author first discussing how power prices are formed in competitive markets. They consider a typical pool market, with the price determined via auction mechanisms. The authors then try to identify and characterize the underlying random variables that actually affect power prices. The time series for the price of power is written in terms of the demand using a 'bid stack' function. The bid stack function is approximated by a 'generation stack' that is found for a given time by sorting generation units by their generation costs. This approximation is checked by comparing the marginal generation costs generated by the generation stack with the distribution of power prices determined by the time series via the bid stack. There should be agreement in both approaches between the higher order moments. This comparison forms the basis of the authors' hybrid approach to modeling power prices. A transformation is found which relates the marginal generation costs to the distribution of power prices with the requirement that the prices of market instruments used for calibration are matched, and the higher moments are (approximately) preserved. The transformation is not unique, and in fact a family of transformations induced by the multiplication and stack scaling operators can be found.

Excellent subject treatment
Until now there were a handful of papers, precious few books, and mostly inside proprietary models and experience that dealt with the complex subject of power trading and all its flavors. This book provides a nice summary of many of the present issues. The treatment of the subject is somewhat mathematically rigorous, so the book might not be for traders as much as it is for quants or risk managers.

To me, the greatest strength of the book lies in its fairly detailed analysis of what DOESN'T work, i.e. why common models and methods from the financial and other commodity realms can not be successfully grafted onto the energy market without risking significant valuation and cash flow prediction errors. The hybrid model they formulate towards the end of the book is very similar to Skantze and Ilic (2001). The departure from most previous models is that they attempt to use the markets to formulate and calibrate the structure instead of relying too much on past historical price/load data, which without some empirical understanding of the underlying processes, is fraught with danger due to rapidly evolving nature of the power market (or at least once rapidly evolving--it seems to be a little static at the moment).

Some familiarity with the market and stochastic/statistical mathematics is assumed. References to specific topics and more in depth analysis of particular subjects are good. The authors have a grip on real-world trading, risk, and cashflow issues, which makes this a useful reference for just about anyone associated with those aspects of the power market. I recommend it.

excellent book
Extremely well written and right to the point, with the appropriate level of technical detail, Eydeland and Wolyniec's Energy and Power Risk Management is arguably the best book on the subject. A must have for every professional in the industry. ... Read more

Book Description

Engstrom and Copley’s Essentials of Accounting for Governmental and Not-for-Profit Organizations, 6e is well received by those professors whose objective is to provide less detailed coverage than is available in larger texts, as well as by those whose objective is to prepare accounting majors for the uniform CPA Examination.This addition incorporates all the FASB, GASB and AICPA pronouncements passed since the last edition. ... Read more

Reviews (6)

Frustration
This is a truly horrible book. It's written so poorly that the only way it can be used is as a look-up reference. If you don't have a really good instructor for Not-for-profit accounting, find one using a different book. You won't get much out of this.
The 7th Edition is just as bad as the 6th.

Worst Text I ever had to read
If it was possible to give this book a negetive star review I would.It has no organization, no structure, and makes no sense.It is by far the worst text I have ever had to read.Although the author is a professor, he must be a very bad one.He has no grasp on how students learn, and makes no attempt to link information together.He uses the same example throughout the entire text.As if in chapter 9, you rememeber what entry 14, is in chapter 3. A horrible book. It is easier to read the GASB statements than it is this book.DO NOT BUY IT!!

WARNING! Reading this book may cause extreme drowsiness.
WARNING!This book may cause drowsiness.Do not attempt to operate heavy machinery after reading this book.

It's too bad the author has absolutely no literary skills whatsoever.I'm no great author myself but you'd think by the time they got to the fifth edition all the errors would be gone and they would have improved upon the existing text.I guess the editors must have let this one slip through without actually reading what they were going to be publishing.

If you are unfortunate enough to have to buy this book then you will be dumber for having read it and may God have mercy on your soul.

Absolutely one of the WORST accounting textbooks
This book is perhaps the most poorly thought out text I've ever had the displeasure to read...The authors write this book in high level language and do a very poor job of explaining just what it is that they are attempting to convey to the reader.I think that I would actually rather read GASB doctrine than attempt to decode this text. If you are reading this review and you are a professor, please do NOT choose this text for your course.

Think twice before buying this text!
Astoundingly bad text.To say that this book is dry is a complement. The fact is that any introduction text should paraphrase and explain the more complicated issues involved.The authors do not do this.They borrow from the GASB standards word for word in order to fill out space in the text.See whatyou think of the following excerpt: "Accordingly, a distinctive characteristic of governmental accounting resulting from the need to demonstrate compliance with laws governing the sources of revenues available to governmental units and laws governing the utilization of those revenues is the formal reporting of the legally approved budget compared with actual results for the General Fund and all special revenue funds that have a legally adopted annual budget." Real nice for an intro book! ... Read more

Book Description

Accounting Principles, Seventh Edition addresses the issues that our customers-- instructors and students-- have said are important. These include student success, student motivation, student problem-solving skills, student decision-making skills, and technology to assist learning and technology to assist teaching. Click on www.wiley.com/college/wkk for details on how we address each of these issues. ... Read more

Book Description

Since its inception, the market for credit derivatives has shown impressive growth and is expected to hit a volume of more than $4.8 trillion by 2004. Credit derivatives have begun to transform modern banking; they have become a standard instrument for the management of default risk; they are being used for risk management and hedging as well as for speculation, balance-sheet management and regulatory capital purposes.

Despite their great usefulness, even established professionals often feel insecure when it comes to the quantitative analysis of the prices and risks of credit derivatives. Confronted with a bewildering variety of fundamentally different pricing approaches, it can be very challenging to understand their relative advantages and disadvantages and to choose the "correct" one for the problem at hand.

In this book, the author carefully explains the different pricing models for credit derivatives in a very application-oriented way. Based on his wide experience in professional training for credit derivatives analysis, the models are developed with a view to their application to real pricing problems rather than just presenting the theory.

Philipp Schönbucher is one of the most talented researchers of his generation. He has taken the Credit Derivatives world by storm. In this book he carefully explains the concepts and the mathematics behind all of the most important and popular credit risk models. Professor Schönbucher has filled an important gap on the quantitative finance bookshelf. –Paul Wilmott

The reader is presented with a clear, concise and readable treatment of credit pricing models that will appeal to practitioners and academics. It provides a useful roadmap to the many daily challenges that face practitioners. It will become a standard reference.
–Stuart M. Turnbull, Senior Vice President, Fixed Income Research, Lehman Brothers, NY

"This is the most comprehensive, and also the clearest, book on the details of constructing credit risk models that I have read. Throughout, it is directly useful for general value-at-risk credit modelling as well as its stated focus of credit derivatives. Readability is greatly enhanced by its step-by-step organization across what has grown to be a large topic area and the focus of its single author, as opposed to a collection of disjointed papers. Alternative modelling frameworks are written in a common notation and the reader is given all the details needed for direct implementation. The author, Philipp Schönbucher, is clearly one of the top researchers in this area, even before the writing of this book." –Greg M Gupton, DefaultRisk.com

"Philipp addresses a wide range of modelling issues in the fast growing market of credit derivatives. He covers a broad spectrum of topics starting with the simple everyday trading tools while gradually building up to the more complex mathematical models. It successfully bridges the gap between academia and practice in an elegant and easy style, making it a valuable book for a wide audience"  –Ebbe Rogge, Product Development Group, Financial Markets, ABN AMRO
... Read more

Reviews (6)

Amongst the best of a bad lot
The state of theory is in such tremendous flux at present with a majority of research unpublished and a growing consensus that the state of the art is entirely inadequate. No book could possibly please industry researchers at this point, but Philipp contributes some ideas and clarification here and there and some leads which are valuable. He is perhaps a little dismissive and pessimistic when the theory wanders into hard mathematical problems, and to to a large extent his book ends where the fun stuff begins. Nontheless I would recommend, especially to those entering the field.

Academic's Imperfect Idea of the Market
This book on credit derivatives models is written by an academic without a feel for how the market trades in practice. Schonbucher presents the mathematical equations without expanding on the meaning of the models or their application.

There are some errors of fact when he discusses how certain products work, such as first-to-default baskets, a serious error in and of itself, but unfortunately there are additional similar errors which show the author has an imperfect understanding of the market he writes about. All in all this book was an unsatisfying treatment of the topic.

Models in theory
Nice equations, but hasn't kept up with Ph.D.'s who work on Wall Street and know the theory, thoroughly understand the products, and can apply practical but theoretically sound compromises to accommodate reality. Ph.D.'s at work in finance - including myself (physics) - are probably too busy to write the definitive modelling book. This book fails to address key ingredients such as daycounts, settlement conventions, documentation asymmetry, and more.

Informative, Rigorous, Excellent
The book covers the basics of credit risk modeling and derivative pricing (both structural and intensity type of models), explained in a clear style with enough detail to enable implementation (a rarity in financial literature!). Basics of the theory of stochastic processes and risk-neutral pricing are also covered. Calibration methods for the models are clearly explained. Due to the limited scope, some topics are given only cursory coverage (Copula function methods, role of interest-rates models etc.), but even then, enough references are provided. A very useful, concisely written tome!

Good Model Overview
This is a fine overview of credit derivatives modeling. The model explanations are good, but the book may have benefited from more disclosure about data limitations and the current sources of data. Value dislocations due to documentation language are not captured by the models, especially in the light of ISDA's 2003 language changes. More detail on applications and the need to deal with risks introduced by specific structures would also have been helpful.

Curiously, there are a few conventions inconsistent with market practice used in this book. For instance, the author defines credit risk as default risk, ignoring the standard definition of credit risk which includes general credit spread widening, and credit downgrades. It also seems the author is unfamiliar with how first-to-default baskets are traded, and seems to think that premiums of the survivors are paid after a first-to-default event (They cease.). These observations aside, this is a long-awaited reference for credit derivatives professionals.

For the above risks, I recommend two other sources. Applications and documentation risks are clearly explained in Tavakoli's "Credit Derivatives" (2nd Edition). For professionals who want to know how to apply derivatives in structured finance, I highly recommend Tavakoli's just released book: "Collateralized Debt Obligations and Structured Finance". ... Read more

Book Description

This introductory accounting course presents a complete accounting cycle of a proprietorship and a partnership.Topics include analyzing transactions, journalizing, posting, petty cash, financial statements and adjusting and closing entries.Accounting concepts are introduced using a modern business with owners that students can relate to in each cycle. ... Read more

Book Description

Millions of traders participating in today’s financial markets have shot interest and involvement in technical analysis to an all-time high. This updated edition of Technical Analysis from A to Z combines a detailed explanation of what technical analysis is and how it works with overviews, interpretations, calculations, and examples of over 135 technical indicators—and how they perform under actual market conditions. Enhanced with more details to make it easier to use and understand, this book reflects the latest research findings and advances. A complete summary of major indicators that can be used in any market, it covers:
• Every trading tool from the Absolute Breadth Index to the Zig Zag
• Indicators include Arms Index, Dow Theory, and Elliott Wave Theory
• Over 35 new indicators ... Read more

Reviews (29)

Good coverage in breadth but poor in depth
This is a good quick reference to many tech. indicators. It is possibily THE book that covers the most indicators. However, it does not have in-depth coverage to most of the indicators in the book. It only discusses one or at best a couple of the ways to use a particular indicator. I'd rather see thorough discussions of fewer indicators that are most popular. To that end, many online sources are better than this book. /

I must give the book credit for a very well-written and concise introduction to technical analysis--as part I in the book. It is pretty innovative to use "trader's remorse" to explain the psychological aspects of stock movement and the reason why technical analysis has merits.

Lastly, you don't really need to buy the book if you have online access. It is available online with its entirety and more--the spreadsheet formulas etc.--for free, but of course you would rarely need to understand or even take a look at the formulas behind those indicators unless you're writing software using those indicators. Do a little search on the web and you'll see what I mean.

There is nothing like this book
I own a lot of books on investing and technical analysis and can say there is nothing like this new edition from Mr. Achelis. Yes, the discussions on each indicator are brief (2 to 4 pages), but there are something like 130 indicators! And unlike the first edition (which I recall reading that it had sold almost 100,000 copies), the new edition shows the MATH behind almost all the indicators (no other book I've seen covers the calculations on so many indicators). Even if you own the first edition, this is worth the money.

From the creator of MetaStock
TA from A-Z is an excellent desk reference that describes in great detail a hundred or so different technical indicators, how they are used and also how to calculate them.

I'm not alone in liking this book. Steven Nison, Walter Bressert, John J. Murphy, William O'Neil , Martin Pring and John Bollinger all wrote glowing reviews for this book.

Reed Floren

The Quintessential Reference Book
Ever wonder what all those proper names and strange looking acronyms mean when you look at the choices of technical indicators available on most web sites today?
Steven B. Achelis, founder of EQUIS and creator of MetaStock has compiled the quintessential reference book for technical analysis covering practically every indicator known to mankind. But if there is one thing to imprint onto your brain from this book, it is contained in pages covering the subject "Support and Resistance." In all my years of floor trading, I have never seen anything more valid in price trend analysis than this horizontal (support) line connecting previous tops which once surmounted becomes the floor for the next move up. Achelis calls the pullback after breakout "trader's remorse" and it is the ideal place to buy into a strong stock in a strong industry. His several graphs depicting this pattern couldn't be more precise. The pictures are worth a thousand words. Armed with only this bit of technical knowledge, an investor would improve the odds of profitability many times over by merely subjecting every potential purchase to this test pattern. I take it that because Achelis spent about 5 times as much material on this one concept as he did the other indicators, he agrees that this is truly one of the most important theories in technical analysis.
The rest of the book is devoted to short descriptions of what various indicators mean, how they area calculated, and how they are used. This is especially useful when subscribing to any of the numerous web sites that now carry dozens of indicators. Keep the book close to the computer to have it as a ready reference. I doubt if you will find more detailed information in any other source.

good reference, not much more
This makes a great reference if you want to know what x indicator is, and how it is typically interpreted. The book is often good on giving you general information on how it's calculated, but not always. I'd certainly recommend it as a reference, but don't expect to get a lot of useful actionable items from the book, it's just a reference. ... Read more

Book Description

A practical, introductory guide to the fundamentals of not-for-profit accounting

Not-for-Profit Accounting Made Easy focuses on accounting fundamentals for those who run financial and accounting operations in not-for-profit organizations but do not have a professional understanding of accounting principles and financial reporting. It explains complex accounting rules in terms nonaccountants can easily understand in order to help them better fulfill their managerial and fiduciary duties. Always practical and never overtechnical, this helpful guide conforms to FASB and AICPA standards and:

• Shows how to read and understand a not-for-profit financial statement
• Explains financial accounting and reporting standards
• Helps managers and other nonaccountants become conversant in the rules and principles of accounting
• Updates board members, executive directors, and other senior managers on the accounting basics they should know for day-to-day operations
• Features tables, exhibits, and charts that illustrate the content in a simple and easy-to-understand manner

Suitable for fundraising managers and executives–as well as anyone who needs to read and understand a not-for-profit financial statement–this is the ultimate not-an-accountant’s guide to not-for-profit accounting. ... Read more

Reviews (3)

Accounting Made Difficult
If you are looking for a straightforward, easy-to-read explanation of not-for-profit accounting, keep looking. I ordered this book recently and while the first chapter provides some useful defintions, the rest of the book is mind-numbing. In fact, I gave up after chapter 3. If you have to re-read paragraphs two and three times to understand what the author is trying to say, then it's not "accounting made easy."

In addition, the examples of financial statements only offer "XXX" rather than actual numbers. Samples with actual numbers would have been much more useful.

Charity Channel (www.charitychannel.com) also gave this book a negative review.

There are better guides out there.

Very good, but not quite "easy"
This book is exactly what I (as a newly-minted board member) needed to help me figure out some of the oddities and kinks in nonprofit financial reports. Information is presented clearly and logically.

Only two little problems kept me from awarding five stars.

1. If you have no accounting background at all, you may find it difficult to make sense of some parts of the book. At several points, a general familiarity with accounting concepts and terms is assumed. I had taken an introductory accounting class a few years ago at a community college, and with that background, had no trouble at all with the book. I suspect that if I'd read this book before taking that class, I would have given up in hopeless confusion after the first chapter. Be warned.

2. The book contains examples of financial reports. That's good. Unfortunately, it shows all the dollar amounts as "$XXXX.XX" or similar. That's bad. It would have been much better to construct an example with actual numbers, so the reader could see which numbers flowed where.

If you know even a little bit about accounting, and you are involved with the finances of a nonprofit organization (staff, board, major donor), this is a valuable resource.

Comprehensive and Easy to Understand!
I work at a not-for-profit organization and always found the books in this field too technical. This is the first book I found that covers all of the essential information I need to know about non-profits but in a clear and easy-to-ready format. It has greatly enhanced my understanding of the field. An excellent book for anyone connected to a non-profit organization. ... Read more

Book Description

This cutting-edge financial casebook is divided into four modules: Structuring Projects, Valuing Projects, Managing Project Risk, and Financing Projects. The cases have been carefully selected to reflect actual use of project finance over the past five years in terms of geographic location (the cases come from 15 different countries) and industrial sectors.
* Benjamin Esty, of the Harvard Business School, is one of the leading scholars in project finance.
* Project finance is becoming the financing mechanism of choice for many private firms.
* Cases require the reader to integrate knowledge from multiple disciplines when making a single managerial decision. This integration of functional areas such as strategy, operations, ethics, and human resource management encourages the reader to adopt a more integrative perspective and understanding of the interconnectedness of managerial decision-making. ... Read more

Reviews (1)

A book for students of budgeting
This book aimes at giving the reader a comprehensive picture of the budgetprocess from the creation of the different parts of the budget to the finished result, and the processes after the completion.

The authors try to make it the most complete, practical and readable book about budgeting.

I think, that the result is very good. The only things I miss is more emphasis on the subject of making the budgetassumptions and the difficulties in educating people in the company in the budgetprocess. ... Read more

Book Description

Fundamental Managerial Accounting Concepts 2e by Edmonds/Edmonds/Tsay focuses on concepts that are isolated and introduced in a logical sequence.The authors intentionally limit the scope of the material to help students build a solid foundation of the most important concepts in managerial accounting. Fundamental Managerial Accounting Concepts 2e is organized in a distinctive way, particularly in the first six chapters.The objective is to establish a coherent, integrative framework that enables students to build knowledge in stepwise fashion. The authors’ goal is for students to understand the underlying principles of accounting, not just memorize content. ... Read more

Reviews (2)

Boring read for good subject
Reading through this book is a BORE! :( Examples are almost non-existant, there's like nothing (like definitions) on the sides of the pages, and no glossary. How poorly written! Please find an alternative to learn this rather interesting subject. Thank you!
-Upset reader of this school book

Disappointing
Having previously read "Fundamental Financial Accounting Concepts" by the same people, this book was a disappointment. It came off as incredibly dry, and was not all that clear in its presentation of the concepts. The "Fundamental Financial Accounting" volume is great, but I'd recommend another author for the managerial book. ... Read more

Book Description

Intermediate Accounting presents accounting from the perspective of the essential activities ofbusiness: operating, investing, and financing.Students will see accounting as it is in the real world -- an essential component of the management function and decision-making process. ... Read more

Reviews (6)

Fulltime Accountant /student
This book is very practical and covers all the pertinent information needed for a good foundation in Accounting. The book is easy to understand and gives practical examples and useful exercises.

Response to a reader from Houston
I am an accounting Professor. I am also an accountant. I am so surprised that you thought people became accountants because they failed from something else. It is totally wrong. I am so pround of it. I am 27 year old. I have a good car, have a good house (no debt at all; I just repaid all my mortgage recently.) I do not think that people who are in the field from which you mentioned they failed can make money and have good reputation like I do. Do you know that an auditor money as much as a lawyer (I am a good auditor; please do not talk about other case)

For this book, I found it is very good. I used Prof Skousen's textbook in first accounting class as well as intermediate. My students like them so much. However, they give a little bit too much detail. A professor should adapt it when using in class. This book is a excellent alternative to another book published by Wiley.

Very Difficult Reading
Good grief, the material in this book is TORTUROUS to read and absorb. I've never encountered anything more dull and (for a GREAT deal of it) useless.

Excellent Revision
Another excellent revision on a accounting textbook that continues to set academic and professional standards for the systematic leaning of accounting principles in a clear, concise and relevant manner.

Thank you Mr. Skousen and Associates.

An excellent accounting text
Layout and presentation of topics are in a logical order. Text is clearly written, and explains the why and how, using examples from annual reports, news articles, and historical information. Complicated topics, such as pension accounting and disclosure, are presented first with a simple example to give you the background you need. Then the authors progress to the more complicated and real world aspects of the topic. ... Read more

Book Description

Completely revised for the new computerized CPA exam—all the information you need to master!

• The most effective system available to prepare for the CPA exam—proven for over thirty years
• Timely—up-to-the-minute coverage for the computerized exam. Contains all current AICPA content requirements in business environment and concepts
• Unique modular format—helps you zero in on areas that need work, organize your study program, and concentrate your efforts
• Comprehensive questions—over 3,700 multiple-choice questions and their solutions in the four volumes. Covers the new simulation-style problems. Includes over 90 simulations—almost three times more examples than any other competitor
• Complete sample exam in business environment and concepts
• Guidelines, pointers, and tips—show you how to build knowledge in a logical and reinforcing way

Wiley CPA Examination Review 2005 arms test-takers with detailed outlines, study guidelines, and skill-building problems to help candidates identify, focus on, and master the specific topics that need the most work.

Other titles in the WILEY CPA EXAMINATION REVIEW 2005 FOUR-VOLUME SET:

• Business Environment and Concepts
• Financial Accounting and Reporting
• Regulation

See inside for the entire array of Wiley CPA Examination Review Products!

The computer-based CPA exam is here! Are you ready?

The Wiley CPA Examination Review 2005 books are revised and updated for the new computerized exam, containing AICPA sample test questions released as recently as March 2004. To help candidates prepare for the new exam format, this edition includes a substantial number of the new simulation-type questions. Passing the CPA exam upon your first attempt is possible! We'd like to help. ... Read more