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

Understanding Financial Statements, 7/E retains its reputation for readability, concise coverage, and accessibility while incorporating the many new requirements and changes in accounting reporting and standards. It gives readers the conceptual background and analytical tools necessary to understand and interpret business financial statements.The book covers the tools and techniques needed to analyze and interpret financial statements, income statements, balance sheets, and cash flow statements.For controllers, CFOs, financial analysts, credit analysts, or business managers who need a valuable reference book. For any individual who wants to learn how to read and interpret financial statements. ... Read more

Reviews (4)

Review - Understanding Financial Statements, 6th Ed.
The presentation of the content assumes that the reader has some knowledge of this content area and at times leaves him/her confused as to what was discussed, making it difficult to understand. Examples that are used are often incomplete and do not provide a complete picture of how statements are generated. As someone who has no knowledge or experience in this area, I found it to be frustrating to read and comprehend the information. Not a good choice if you are a novice. Too bad I could not give it zero stars.

great book
this is a great book for beginers in such a feild. very informative. just what i was looking for.

Enron?
The Preface of this book reveals that the author's daughter "completed three fascinating and challenging years as an analyst for Enron Corporation." Indeed.

Understanding Financial Statements
This is a wonderful book for those who are new to the world of corporate finance and do not have a working knowledge of the language of finance. The definitions are clear and the examples are easy to understand. The book is thorough in its coverage of balance sheet, income statements, statements of retained earnings, and cash flow, and explains how to uncover hidden problems in review of a firm's financial statements. This is a great book for students and those who want to have the mysteries of the financial report revealed. ... Read more

Book Description

"Entrepreneurship is the beachhead of corporate America. If you want to join the business marines, you must read this book."—Robert Keith, Managing General Partner T. L. Ventures

"An extremely readable and useful guide to tackling the venture capital world. This book gives the entrepreneur tremendous insight into what to do and, most importantly, what not to do."—Ash Lilani Senior Vice President, Silicon Valley Bank

"Finally! A practical, hands-on guide to raising venture capital. This step-by-step handbook gives an entrepreneur a clear, real-world roadmap to the world of the fundraising process. I only wish I had a book like this when I started Half.com!"—Josh Kopelman Founder and President, Half.com ... Read more

Reviews (1)

Finally!
Finally! A practical, hands-on guide to raising venture capital. This step-by-step handbook gives an entrepreneur a clear, real-world roadmap to the fundraising process. I only wish I had a book like this when I started my company. ... Read more

Book Description

Credit cards may sound like a great way to finance your lifestyle - but do you know how much you'll really be paying and just how long it will take you to get out of debt?Even if you consolidate your debts, do you know the hidden pitfalls that could cost you thousands and get you even deeper in debt?Now, this first-of-its-kind guide unlocks the secrets of "credit card math" and shows you how to navigate the tricky world of debt consolidation options - such as home equity loans, 401(k) loans, credit cards - and come out AHEAD.Slash Your Debt: Save Money and Secure Your Future - written by America's top credit experts, Gerri Detweiler, Marc Eisenson and Nancy Castleman - is filled with simple charts that show how to pay off small or large debts as fast as possible, saving you a ton of money.You'll discover ...
* Why a 13% credit card can cost more to pay off than a 19% one ...
* Where to get consolidation loans with no credit check ...
* Smart ways to make secret credit card math work to your advantage ...
* How to create a rapid repayment plan based on your personality ...
* The 8 essential keys to successful debt consolidation ...
* and much, much more!The influential experts, who have already helped thousands of people save millions of dollars, are now offering YOU their priceless secrets in this step-by-step guide for getting out of debt fast.Chapter 1: Debt Consolidation BasicsThe Good News: If you choose the right consolidation loan, you'll have one monthly payment (or at least fewer payments), which can mean fewer hassles.You can save time and money -- if you choose a debt consolidation loan with an attractive interest rate and reasonable repayment terms.The Traps: You may pay more with a debt consolidation loan. That's correct. If you don't choose the right consolidation loan, you can end up forking over even more money than if you had just paid your bills at the higher interest rates.You may be in debt for a very long time. Some of these loans carry long repayment terms that can keep you in debt for decades, if not generations! You may end up deeper in debt than when you started. This happens to a lot of folks. Don't let it happen to you! Follow our advice to ensure that you'll get out of debt and stay out.Our first goal is to help you choose the lowest-cost debt consolidation option for your situation, which will hopefully mean lowering the interest rate you're being charged. But getting a lower rate is just one of the steps you can take to get out of debt and save a bundle. Another is to pay off your debt as soon as possible, ideally in no more than three to five years. Throughout this book, we're going to offer many tips that will help you pay off your debts faster, at less cost, and without creating more problems for yourself in the future. Concrete examples will make it easy for you to tune in on the advice that's most relevant to your situation. To keep the numbers as simple as possible, we'll assume your debt is all on one credit card, carrying a 17% interest rate and requiring a minimum monthly payment of 2% of the outstanding balance. As your balance goes down, so will your required payment. (That's how credit cards work. Mortgages, car loans, student loans, and other personal loans require a predetermined monthly payment that does not get smaller as the balance is paid down.) We'll compare three levels of debt: $5,000, $10,000, and $15,000. If your debt is smaller or larger than that, you'll be able to use the tables we provide for information that more closely matches your situation. The Less You're Charged, the More It May Cost At first glance, it would seem that the lower the interest rate charged on a credit card balance, the less you'll pay in interest. And all things being equal, that would be true. Unfortunately, all things aren't always equal, and the credit card industry has come up with an ingenious way to turn less into more. ... Read more

Reviews (5)

Good book on how to reduce debt - and a easy read.
I bought this book and showed it to a friend who is in a credit crunch. He looked at me and said; "This is just plain common sense." I agreed and said, "Then how come you are not doing better financially?"Common sense is not necessarily common knowledge and unfortunately is usually not common practice.-To know and not to do is the same as not knowing.I highly recommend this book.

Great suggestions for cutting interest expenses
Common sense should tell you this stuff but not everyone is dollar wise. In my search for a good book on how to payoff credit card debt quickly, I found most books were for people who have already ruined their credit. We needed a book for someone with good credit, that just wants to payoff their bills. This book concentrates on paying off debt and saving as much as possible in interest. It points out how just a little extra can make a huge difference in the long run. They have several great ideas for reducing your debt and many great examples. The book is very easy to read and comprehend. Great for anyone, regardless of your credit rating!

Better off without it
I bought this book hoping that the writer had provided solid, unique advice for saving money and finding your way out of debt. Unfortunately, the book didn't tell me anything I didn't already know. (Don't use credit cards, pay in cash, etc.) I think that anyone with common sense would be able to think of the tips that the book details. By the time the book arrived, I had already made efforts to do the things that the author suggest without reading any book or researching other sources. Although it is easy to read, the simplicity isn't worth the effort of buying the book and reading it cover to cover. My best advice is that anyone who has questions about debt sit down an try to think logically about what they can do about their situation before consulting the book.

Easy-to-understand advice
This book has really a great advice on how to consolidate your debts. It really makes it clear how to save money & get out of debt fast. The charts in the book are so helpful. I know I'll save a lot of money following this advice. Plus it's really easy to read! I really recommend it.

If you spend money, you need this book
After reading "Invest In Yourself, Six Secrets To A Rich Life" by Gerri, Marc, and Nancy. I didn't think it was possible for them to hit back to back homeruns. They didn't, they've hit a GRAND SLAM! "Slash Your Debt, Save Money And Secure Your Future" should become the financial BIBLE of the average working Joe like you and me. Eight years ago my wife and I were $15,000.00 in debt on credit cards from purchases and a failed Multi-level Marketing program. Soon the creditors started calling all the time looking for payments. I had a copy of Marc's first book, "The Bankers Secret" that was given to me when I was a morning disc jockey on the local radio station. I glanced at it once or twice but thought, "This would never work for me." As the debts climbed higher and the stress level increased, I did what most people would do. I thought about declaring bankruptcy. Many of my "financial advisor" friends told me that it was the easiest way to go. Instead I picked up the book again, looked up Marc's address and found his phone number.I called him and asked him to prove to me that what he said in his book was really true. I found him and Nancy to be two of the most honest down to earth people that I had ever met. And they were living the stress free life that they were writing about. I began to follow their advice and read more of their books and pamphlets. Listened to their audio tapes. And started using their computer programs to eliminate my debt the honest way, by paying it off. We are now only one payment away from credit card debt freedom. All because I listened to the experts on Financial freedom. Marc, Nancy, & Gerri. This new book is so easy to read that the average person who balances their own checkbook can benefit. I read the entire book in three days and then read it again. It's short, simple, and to the point. I do not invest in stocks (yet). So you can skip those chapters if they do not fit your situation and still benefit from this book. Slash Your Debt is a must read for anyone who spends or uses money, and has to work hard to pay it back. If you owe money that is costing you money. Then Slash Your Debt should be in your hands today. I never thought that my wife and I could be so close to having those credit cards paid off. We have saved Thousands of dollars in interest by following the advice of these three financial advisor geniuses. I'll say it again. If you owe money that is costing you money, Slash Your Debt- Save Money And Secure Your Future is the book that has all the answers and advice you'll need. It's your money, it's your future. The decisions you make today will be to your benefit in your future. Start today to "Slash Your Debt"! ... Read more

Book Description

COST ACCOUNTING emphasizes that changing conditions often require a change in cost management systems.Emphasizing this point stresses the dynamic and exciting nature of the field.By taking a systems approach -- one that first covers functional-based cost and control and then activity-based cost systems -- students understand how to understand and manage any cost management system. ... Read more

Reviews (4)

Too much info.
Too bad we're stuck with whatever book the professor assigns.Often reads like the authors needed to write 1,000 pages, regardless of the complexity of the material.I caught them several times referring to the same item with different terms.In-class instruction on methods will save you a ton of time.

Not Impressed!
I was unfortunate to have had to use this textbook for two semesters.It was pure torture!Although there is learning value to this book, there are also many things that make you want to tear your hair out.My main issue is with the graphic illustrations.There are quite a few, but I have not found one that is useful in any form.Some graphs don't even label what is being shown, just a line usually.I wish my "favorite" graph could be explained in words.

Like I said, this book does also teach you about the subject so it is not all bad, but I have used a different cost management text that was much better than this one.

Great Condition
the book was just like brand new, no underlining, no torn pages etc. the book is great

Graduate Accounting ARGHHH!!!
Pretty good book that explains complex subject matter in an easy to understand manner.MBA students without an accounting background can easily comprehend the concepts presented.The only fault I found is that sometimes the authors get too wordy trying to make their point.One of the best accounting textbooks I've used in my educational career. ... Read more

Amazon.com

David Bach's Smart Women Finish Rich is a homage to the financial wisdom of his grandmother; it's also an excellent foundation for women who are starting to get their financial lives in order. Bach's approach to money management is rooted in years of investment seminars for women and his work as senior vice president of investments at Morgan Stanley Dean Witter. During that time he recognized that "people rarely know what is truly driving them emotionally when it comes to money." In response, Bach has written a guide to money management for women based on his belief that "financial planning is as much an emotional issue as it is an intellectual one." Are you considering your values in your work and investing? What part of your daily work is driven by your goals in life? Is your latte habit preventing you from accumulating substantial wealth? Bach addresses tax strategies, wills, insurance, retirement plans, and investments in a highly accessible manner. Smart Women Finish Rich ably bridges the gap between simple saving strategies and preparing for widowhood and financial independence. --Brad Doll ... Read more

Reviews (88)

The BEST Personal Finance Book Out There. PERIOD.
I've read about 90 books on personal finance, frugality, etc., in the past year. This is THE BEST. PERIOD. Bach doesn't tell you how to get rich. He talks to you, coaches you, cajoles you to figure out what's really important to you. And then he tells you how to fund those important goals. I've never seen such a beautiful blend of coaching and advice. After reading the couples version of this book, I got my husband to read it, and then we held a "Finance Night" in which we did all the exercises, talked them through, went over our budgets, insurance coverage, etc., and then came up with a 10-step action plan. This book motivated us to do all that! I've since read the version for women and am getting copies for every one in both our families for Christmas. I personally can't remember the specific financial advice Bach gives. Personally, I think financial strategies need to change as events and circumstances change. I don't need a book for specific strategies. I needed a book to help me figure out very specifically what we wanted out of life, and get me motivated to move in that direction! And that's what this book did.

Well written financial planning primer for women and men.
I am a Certified Public Accountant with a background in financial planning. In February, I purchased the book for myself. The information wasn't new, but it spoke to me in volumes. For Valentine's day, I purchased the book for my assistant and secretary.

I have finished the book once, and have now been going through it a second time implementing each of the seven items.

During tax season, many of my clients ask for advice? What should we be looking to invest our money in? What does the Roth mean? How much insurance do we need? How do we plan for retirement? Should we be making gifts to our children's college fund? Many times I am not able to spend as much time, during the tax season as my client will need to absorb the information provided then begin working on the plan. This book allows my clients the time to understand the basics of financial planning. Know the time requirements on both them and myself to become effective. This is a wonderful starting point.

I often recommend books that I have read on financial planning, but this was the first time that I not only have recommended the book I went out and purchased over a dozen additional copies. I have given them out not just to Smart Women, but young couples, and those looking toward retirement. The information is sound. It's easy to understand. If the steps are followed they will make any client Finish Rich.

Awesome, highly recommend
I picked up this book because I like to read as much as I can about investing. I thought I knew it all--but learned a ton from this book. This book is for every single woman out there. Being financially literate is as important as having good health. It is vital to get finances in order and this book explains how, is easy to followm and Bach makes the topic of money and saving a lot of fun. A must have in your library.

Perfect For Those Who Don't Have A Clue About Finances
I had tried asking others regarding finances but it was the usual in one ear out the other. Learning, hearing and asking questions about finances can be a confusing and frustrating task. I decided to give this book a shot and I was pleasantly pleased.

Everything was spelled out in the simplest terms and explained thoroughly. I can now discuss financial matters with the best of them. This book also pushed me to take those first steps to financial freedom without my old fears.
I also enjoyed the fact that the book discusses how our values are also important and made me think about more than just dollars and cents, but also about what I want out of my life.

I highly recommend this book and also the "Smart Couples Finish Rich". You'll be surprised how much you didn't know!!!

Very Insightful
This is a great book. I had gone to the bookstore to pick up a different book which they did not have. I came across this one and decided to buy it since the other one was not available. This book is very insightful and definitely helps you with your money. It gives steps and worksheets and advise. There are success stories and practical solutions. ... Read more

Book Description

Praise for The Financial Numbers Game

"So much for the notion ‘those who can, do–those who can’t, teach.’ Mulford and Comiskey function successfully both as college professors and real-world financial mercenaries. These guys know their balance sheets. The Financial Numbers Game should serve as a survival manual for both serious individual investors and industry pros who study and act upon the interpretation of financial statements. This unique blend of battle-earned scholarship and quality writing is a must-read/must-have reference for serious financial statement analysis."
––Bob Acker, Editor/Publisher, The Acker Letter

"Wall Street’s unforgiving attention to quarterly earnings presents ever increasing pressure on CFOs to manage earnings and expectations. The Financial Numbers Game provides a clear explanation of the ways in which management can stretch, bend, and break accounting rules to reach the desired bottom line. This arms the serious investor or financial analyst with the healthy skepticism required to drive beyond reported results to a clear understanding of a firm’s true performance."
––Mark Hurley, Managing Director, Training and Development,
Global Corporate and Investment Banking, Bank of America

"After reading The Financial Numbers Game, I feel as though I’ve taken a master’s level course in financial statement analysis. Mulford and Comiskey’s latest book should be required reading for anyone who is serious about fundamentally analyzing stocks."
––Harry Domash, San Francisco Chronicle investing columnist and investment newsletter publisher ... Read more

Reviews (17)

Perfect timing
Definitely the best resource out in the market to help you learn everything you need to know about financial statement analysis and creative accounting pratices. With all the accounting upheaval Enron has caused, this book has perfect timing for anyone who is involved in the 'numbers game' of the accounting world.

Whoa! Excellent book to explain creative accounting ...
So what is a shareholder to believe? The analysts? The accountants? FASB? SEC? Who has our best interest at heart? And who can you trust anymore? Caveat Emptor. Buyer beware... I began a search to find the best book I could to educate me on corporate creative accounting and this is it. EZ to understand. You don't need to know debits and credits. I know what to look for now when I study 10k's. It's all in this book. Timely. Published just as Enron broke. Lots of companies mentioned, which I won't mention here. You just might be shocked at what you find out. Chapters include 'How the Game is Played', 'Misreported Assets and Liabilities', 'Getting Creative with the Income Statement, 'Earnings Management', 'Problems with Cash Flow Reporting', and many more. Complete with exhibits, charts, footnotes. EZ read. Have to go now and re-evaluate my favorite corporate annual reports!

Highly Recommended!
A special note in the preface of this book explains that it went to press just as the Enron story was beginning to break. Three of its chapters provide almost all the information anyone would have needed to spot the problems at Enron, not to mention at the other big corporations whose scandals made recent headlines. Spotting fraud isn't that hard. The authors provide a very useful toolkit that even a novice investor can use. Some of their coverage of the regulatory apparatus will no doubt have to be changed in future editions, as the regulations themselves keep changing, but this enlightening introduction to the nitty-gritty of skeptical financial statement analysis will have enduring utility. It's written by accountants, so it gets a bit plodding in spots, but their anecdotes relieve the tedium and their information is invaluable. We recommend this reality check for every investor's bookshelf, as well as every employee's and every financial reporter's. Anyone who depends on corporate performance or who uses corporate financial statements should read it.

you are not likely to learn anything knew from this book
This book is not likely to tell you anything that you don't know already from reading the newspapers. The authors wrote in the introduction that it requires advanced knowledge of finance and accounting to comprehend the material. Nothing like that. A couple of basic accounting courses are all you need to read it. It is redundant. It didn't tell me anything new although if I were a sophomore in college then maybe I would have learned something. Don't expect to get any insight into the financial numbers game. It is a little more than a basic review of current accounting issues. If you read business publications from time to time then you are already well familiar with everything the book has to say.

Alternative view: Big Disappointment
I ordered this book based on the positive Amazon reviews,
but it is a major disappointment. The authors belabor
the obvious. Their major points would not be a surprise to
anyone with minimal coursework in accounting, with cursory
experience looking at financial statements, or anyone who
has spent a little time watching CNBC. The redundancy
is mind-numbing. Maybe hormone crazed undergraduates need
to see the same points over and over again, but intelligent
and attentive readers shouln't have to waste their time.
Enron does not even make it into the index, nor could I
find any of their financial smoke-screens mentioned in the
text. I would never spend another dime on work by these
authors, ... ... Read more

Book Description

Hedge funds have long been viewed as mysterious, high-risk investments, unsuitable for most investors. All About Hedge Funds debunks these myths and explains how any investor can take advantage of the high-potential returns of hedge funds while incorporating safeguards to limit their volatility and risk. This clear-headed, commonsense guide tells investors:

• What hedge funds are--and what they are not
• Four key hedge fund strategies
• How to incorporate hedge funds into an existing portfolio
• Types of risk involved in hedge fund investing

Reviews (6)

Excellent
Not just for people looking for a hedge fund! This book is a great introduction to modern portfolio theory and gives excellent descriptions of most key concepts. If there's a 2nd edition, I hope he will include more clarity and discussion of key terms like Sharpe Ratio (there are 2 definitions in customary usage, it's an important and misunderstood number, and there is no occurrence of "sharpe ratio" in the index), Alpha, Beta, R-squared, etc. Nonetheless, this book is extremely helpful and highly recommended.

Great, Great, Great
This book is great!

I'm a Wall Street professional, but wanted to understand more about the hedge fund business. My initial concern was that this book was going to be too basic, but it was not. It provided excellent insights into the function of hedge funds in today's financial world, various types of investment strategies, the tools available to hedge funds and even went into regulatory and tax issues. It answered all the questions I had about hedge funds (and was afraid to ask). Yet while it was not too simplistic for someone already in the financial services world, it was also not too complicated for a layperson. This book will remain a valuable resource for me in the future.

Fantastic overview of the industry
This book presents a fantastic overview of the hedge fund industry. The intended target audience is hedge fund investors, which is reinforced by the author's credentials as an executive in a "Fund of Funds". In addition, the book would be very useful as an interview to financial markets, useful for business students interested in careers in trading or hedge funds.

The book starts with a broad overview of market theory, covering efficient markets, diversification theory and strengths and weaknesses of the "Random Walk" theory. The book then moves to an overview of the various investment tools available to hedge funds, such as going long and short on stock prices and volatility. (If you'd like to know in plain english what being "long volatility" means, this is a good book for you!) The book then covers legal, financial and operational details of running a fund. Lastly, it covers the various types of funds, such as equity funds and event driven funds. The scope of the material covers financial institutions such as investment banks and brokers that support hedge funds.

In summary, this was a very informative introductory text on both hedge funds and markets. It will be very useful to both new investors in hedge funds, as well as students of financial markets. The math is well explained, and there are only a few tough technical sections.

Enjoy!

Excellent Primer on Hedge Funds and the Industry
This book delivered what I was looking for and more. I needed an introduction to hedge funds and the industry and the book does an excellent job of providing this information in complete and concise detail. In addition, the book also gives a good overview of portfolio theory and how it relates to actual practice. There is also a section that describes the prevalent hedge fund strategies with historical performances. I highly recommend this book to those interested in starting their own fund or wishing to work in the industry.

Best book I've read on hedge funds
"All About Hedge Funds" is lucid enough for beginners, sophisticated enough for those in the know, and written with a clarity and intelligence rare in the world of money books. Jaeger avoids hype while providing plenty of insight into this often misunderstood investment tool. ... Read more

Book Description

Performing Venture Capital Due Diligence the Right Way

Venture Capital Due Diligence provides a clear and complete explanation of the venture capital (VC) due diligence process and shows you how to use it to assess investment opportunities, make smart investment decisions, and increase the return on your overall venture capital portfolio.

This comprehensive guide offers a full explanation of the VC due diligence process, from using screening mechanisms that sort out potential opportunities, to assessing the management qualities, business models, legal issues, and even intangibles of target companies. Structured around a number of carefully crafted questions that venture capitalists often ask when performing due diligence, this book puts you–the reader–in the position of a VC conducting due diligence on a particular company.

In-depth discussions of these questions and their possible answers pull together opinions from many of the major players in today’s venture capital industry, including . . .

• Richard Testa of Testa Hurwitz & Thibeault
• Ann Winblad of Hummer Winblad Venture Partners
• John Doerr of Kleiner Perkins Caufield & Byers
• Craig Johnson of the Venture Law Group
• Don Valentine of Sequoia Capital
• Kevin Fong of the Mayfield Fund

. . . and many others who are qualified to comment on the proper methods of performing VC due diligence and making VC investment decisions.

An essential guide for anyone involved in venture capital investing, Venture Capital Due Diligence helps you uncover potential problems, while showing you where to look and what to look for when conducting VC due diligence. ... Read more

Reviews (4)

This book is a really great resource.
As a new entrant to the field of venture capital, I found this book extremely helpful. Anyone hoping to become a VC should definitely take a look.

Skip it
This book is a disappointment.

Although it is carefully documented, it is almost entirely made up of quotes from secondary sources. If you've read some basic books on private equity, you probably already read most of the sources used in this book. There is little in the way of analysis or any kind of value add.

Don't Skip this Book!
Written in simple format, layman's terminology, and constructed very well. If you are looking to build a business, even have one funded this is a book you have to read. It gives very good perspective and is a great supplement to "The Venture Capital Cycle" and "Venture Capital and Private Equity: A Casebook". The reading is highly informative and the 3 go together exceptionally well.

One of the finest due diligence books I have read.
Justin Camp puts the whole due diligence process into a logical, easy to read, and concise format. I found it both informative and thought provoking. I believe this book would not only be helpful to venture capitalists but entrepreneurs can use it to prepare themselves and their companies to attract vc funding. The book should be a reference work for anyone looking to build or invest in a young company. ... 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 solu-tions 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:

• Auditing and Attestation
• Business Environment and Concepts
• Financial Accounting and Reporting

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

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

This text is written for a one semester course in introductory accounting, generally titled "Financial Accounting," and is written for students who have no prior knowledge of accounting and accounting systems. This text is appropriate for the course where heavy emphasis is on concepts, not procedural detail. ... Read more

Reviews (1)

Just an ordinary accounting book
The book is overall quite good as an introductory text for accounting, but there are other books out there, equally good, that come a lot cheaper. ... 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

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:

• Auditing and Attestation
• 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

Book Description

Advanced Accounting, 8e offers the most authoritative, conceptually strong, and comprehensive coverage of advanced accounting topics of any text on the market. Completely updated to reflect all of the latest FASB pronouncements, it is an excellent preparation resource for the CPA exam.Advanced Accounting also provides students with the tools they need to pursue professional careers in a global economy.This is the only text on the market to utilize the horizontal approach to consolidations worksheets, the format most commonly used in the business world. ... 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

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

This proven, market-leading book provides a thorough, current introduction to risk management and insurance. It assists the reader in identifying, analyzing, and managing risk through insurance and alternative tools/techniques such as loss control, risk retention, and risk transfer. This edition presents an even stronger focus on managing risk and covers insurance within this context. Concepts of risk management are presented as they apply to business and personal situations as well as international situations. ... 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