The financial information provided to governments, creditors, investors etc. by businesses has been verified by auditors since ancient times. In its modern form, the independent public accounting profession has its roots in 19th century Scotland. A distinctive feature of this profession is that it consists of private for-profit businesses – operating as sole practitioners, partnerships, but mostly as large accounting firms. The question naturally arises – why should users of financial info...

A detailed guide to the discipline of corporate valuationDesigned for the professional investor who is building an investment portfolio that includes equity, Corporate Valuation for Portfolio Investment takes you through a range of approaches, including those primarily based on assets, earnings, cash flow, and securities prices, as well as hybrid techniques.Along the way, it discusses the importance of qualitative measures such as governance, which go well beyond g...

Risk Management introduces and explores the latest financial and hedging techniques in use around the world, and provides the foundation for creating an integrated, consistent, and effective risk management strategy.

Managers can deploy and manage economic capital more effectively when they understand how their decisions add value to their organizations. Economic Capital: How It Works and What Every Manager Needs to Know presents new ways to define, measure, and implement management strategies by using recent examples, many from the sub-prime crisis. The authors also discuss the role of economic capital within the broader context of management responsibilities and activities as well as its relation to ...

A straightforward guide to the evolution, benefits, and implementation of Solvency IIProviding a guide to the evolution, practice, benefits, and implementation of Solvency II, Executive′s Guide to Solvency II deftly covers this major European regulation which ensures that insurers can meet their risk–based liabilities over a one–year period to a 99.5% certainty. Part of the Wiley and SAS Business series, this book will guide you through Solvency II, especi...

Current books on project finance tend to be non-technical and are either procedural or rely heavily on case studies. In contrast, this textbook provides a more analytical perspective, without a loss of pragmatism.Principles of Project and Infrastructure Finance is written for senior undergraduates, graduate students and practitioners who wish to know how major projects, such as residential and infrastructural developments, are financed. The approach is intuitive, ...

Key readings in risk management from CFA Institute, the preeminent organization representing financial analystsRisk management may have been the single most important topic in finance over the past two decades. To appreciate its complexity, one must understand the art as well as the science behind it. Risk Management: Foundations for a Changing Financial World provides investment professionals with a solid framework for understanding the theory, philosophy...

Your one indispensable guide to all the Fair Value requirements of IFRSAcomplete guide to the complex valuation requirements of IFRS, this book includes chapters on theoretical and practical applications, with extensive examples illustrating the required techniques for each application.Appropriate for anyone involved professionally with finance—managers, accountants, investors, bankers, instructors, and students—this guide draws on a stellar panel of expert...

Make more informed project investment decisions by knowing what issues to examine in the planning process and how to analyze their impactsPoor or insufficient planning is primarily responsible for the inordinate number of idle and rusting capital facilities around the world, with investment decisions often made on the basis of either intuition or inadequate analysis. Investment Project Design: A Guide to Financial and Economic Analysis with Constraints alerts potential inv...

This book provides a comprehensive treatment of credit risk assessment and credit risk rating that meets the Advanced Internal Risk-Based (AIRB) approach of Basel II. Credit risk analysis looks at many risks and this book covers all the critical areas that credit professionals need to know, including country analysis, industry analysis, financial analysis, business analysis, and management analysis. Organized under two methodological approaches to credit analysis—a criteria-based approach,...

Managing Credit Risk, Second Edition opens with a detailed discussion of today’s global credit markets—touching on everything from the emergence of hedge funds as major players to the growing influence of rating agencies. After gaining a firm understanding of these issues, you’ll be introduced to some of the most effective credit risk management tools, techniques, and vehicles currently available. If you need to keep up with the constant changes in the world of credit risk managem...

Effective asset-liability management (ALM) of a financial institution requires making informed strategic and operational decisions. Ever more important in the wake of the corporate bailouts and collapses of the financial crisis, ALM encompasses the formulation, implementation, monitoring, and revision of strategies, often on a daily basis due to the fast-moving nature of the related risks and constraints.This approachable book features up-to-date practitioner and academic perspecti...