How to read a financial report? An annual report is unfamiliar terrain to many people. For those who are not accountants, analysts or financial planners, this booklet can help them to better understand such reports and possibly become more informed investors.
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The 1980s and 1990s have been critical periods for Thailand’s development. After an initial period of instability in the early 1980s, Thailand’s economy expanded at an average pace of 9 percent p.a. during 1987–96, while the number of households below the poverty line dropped from 32.6 percent in 1988 to 16.3 percent in 1996.
During this period, Thailand’s economy also underwent deep structural changes, including the liberalization of its financial sector and the integration of its economy with global financial and product markets.
Financial globalization could be described as a process in which global financial activities get increasingly integrated with the risk creation mechanism. This description emphasizes three points. First, financial globalization is not only a process in which financial activities transcend national borders, but also a process in which risks spread across the markets. Second, financial globalization is initiated by many micro-economic entities to seek profits and is driven by the integration of global financial markets. Third, it is a gradually deepening process with distinct phases....
Extensive evidence confirms that creating the conditions for a deep and efficient financial
system can contribute robustly to sustained economic growth and lower poverty (e.g., see
Beck, Levine, and Loayza 2000, Honohan 2004a, and World Bank 2001a). Moreover, in
all levels of development, continued efficient and effective provision of financial services
requires that financial policies and financial system structures be adjusted as needed in
response to financial innovations and shifts in the broader macroeconomic and institu-
The Publisher has strived to be as accurate and complete as possible in the creation of this report, notwithstanding the fact that he does not warrant or represent at any time that the contents within are accurate due to the rapidly changing nature of the Internet. This book is an easy, common sense guide to awakening your Financial IQ and personal finance management. In practical advice books, like anything else in life, there are no guarantees of income made.
This chapter presents an overview of quantitative indicators of financial structure, devel-
opment, and soundness. It provides guidance on key system-wide and sectoral indicators,
including definitions, measurement, and usage. Key data sources for these indicators
are explained in appendix C (Data Sources for Financial Sector Assessments). Detailed
analysis and benchmarking of these indicators are discussed in chapters 3 and 4. More
detailed data requirements are presented in appendix B (Illustrative Data Questionnaires
for Comprehensive Financial Sector Assessments)....
In a decentralized-decisions economy under uncertainty, the financial system can be seen as
the complex of institutions, infrastructure, and instruments that the society adopts to minimize the
costs of transacting promises under agents’ incomplete trust and limited information. Building on a
microeconomic, general equilibrium model that portrays such fundamental function of finance, this
study analytically shows that, in line with recent empirical evidence, the development of financial
infrastructure stimulates larger and more efficient capital industrial accumulation.
This essay reflects upon the relationship between the current theory of
financial intermediation and real-world practice. Our critical analysis of this
theory leads to several building blocks of a new theory of financial
Current financial intermediation theory builds on the notion that
intermediaries serve to reduce transaction costs and informational
asymmetries. As developments in information technology, deregulation,
deepening of financial markets, etc.
In a decentralized-decisions economic environment, agents consider the risk that others
might unfairly exploit informational asymmetries to their own advantage. Incomplete trust,
affects, in particular, financial transactions whereby agents trade current real claims for promises
of future real claims. Agents thus invest considerable resources to assess the trustworthiness of
others with whom they know they can interact only under conditions of limited and
asymmetrically distributed information, and to ensure compliance with contractual obligations.
This paper studies the responses of residential property and equity prices,
inflation and economic activity to monetary policy shocks in 17 countries,
using data spanning 1986-2006. We estimate VARs for individual economies
and panel VARs in which we distinguish between groups of countries on the
basis of the characteristics of their financial systems. The results suggest that
using monetary policy to offset asset price movements in order to guard
against financial instability may have large effects on economic activity.
It has long been acknowledged that politics and regulatory capture can play an important
role in dealing with financial institutions’ distress. The East Asia financial crisis meant a
large number of distressed and closed intermediaries in an environment with many links
between government, supervisors, politicians and financial institutions. This makes for a
good event for studying how such connections affect the resolution of financial
institutions’ distress. We investigate the occurrence of distress and closure decisions for...
Levine explains what the financial system does and how it affects, and is affected by, economic growth. Theory suggests that financial instruments, markets, and institutions arise to mitigate the effects of information and transaction costs. A growing literature shows that differences in how well financial systems reduce information and transaction costs influence savings rates, investment decisions, technological innovation, and long-run growth rates. A less developed theoretical literature shows how changes in economic activity can influence financial systems.
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