A Anybody can call themselves an accountant,
but a recognised qualification
generally guarantees proper training,
experience and professional standards.
5 Most accountants work in-house for
companies or organisations in the
private, public or voluntary sectors.
Those employed by accountancy firms,
on the other hand, usually specialise in
\0 very specific areas, such as auditing,
taxation, insolvency or forensic accounting.
Naturally, each specialism has
different training requirements.
or purposes of this book the term private equity refers to the
common stock of a corporation where that common stock is
held by a relatively few investors and is not traded on any of the
conventional stock markets. Normally the senior managers of
the firm hold a significant percentage of the firm's stock, and we
will assume that is the situation in all the cases discussed in this
Broadly speaking, Islamic modes of finance can
be divided into two types: either they provide
direct finance as capital funds through partnership
(musharakah and mudarabah), or they
provide indirect finance through leasing (ijarah)
and sale contracts (murabahah, bai ajil, salam,
and istisna’a). All modes are based on the principle
of riba (interest) prohibition, and all seek
to maintain Islamic business ethics (freedom
and leniency of transactions, recognition of and
regard for private property, and justic.
The most frequently used method in the literature is via indirect estimates from observed
expenditure data, building on Pissarides and Weber (1989), who use food expenditure survey
data to estimate the underreporting of British self-employed. The consumption-based method-
ology has been applied in a host of settings (Lyssiotou, Pashardes and Stengos (2004), Feldman
and Slemrod (2007), Gorodnichenko, Martinez-Vazquez and Sabirianova (2009), Braguinsky,
Mityakov and Liscovich (2010)).
Chapter 9 discuss why having adequate health insurance is important, and identify the factors contributing to the growing cost of health insurance; differentiate among the major types of health insurance plans, and identify major private and public health insurance providers and their programs; analyze your own health insurance needs and explain how to shop for appropriate coverage;...
Chapter objectives: Discuss the purpose and roles of NPOs, evaluate SOX and its potential application to private companies and NPOs, present the corporate governance principles, mechanisms, and functions found in public companies in a comparable structure for use in private companies and NPOs, elaborate on the duties of the audit committee of NPOs, reiterate the importance of an effective internal control structure for entities of all types and sizes.
Chapter 10 - Sources of long-term finance: Equity. This chapter include objectives: Outline the characteristics of ordinary shares, explain the advantages and disadvantages of equity as a source of finance, outline the main characteristics of preference shares, outline the main sources of private equity in the Australian market,…
Companies face risks every day, they are part of normal business life. There are many
risks — both threats and opportunities — which may impact on a company‘s
resources, projects and profitability. Risk means different things to different businesses
and organizations. Undoubtedly, the risk represents both a potential threat and
potential opportunity for businesses.
Every business and decision involves a certain amount of risk. Risk might cause a loss
to a company. This does not mean, however, that businesses cannot take risks.
The teaching and the practicing of corporate finance are more challenging and exciting
than ever before. The last decade has seen fundamental changes in financial markets and
financial instruments. In the early years of the 21st century, we still see announcements in
the financial press about such matters as takeovers, junk bonds, financial restructuring, initial
public offerings, bankruptcy, and derivatives. In addition, there is the new recognition
of “real” options (Chapters 21 and 22), private equity and venture capital (Chapter 19), and
the disappearing dividend (Chapter 18).
The calm before the storm? That question dominated the stage at the
seventh annual conference on emerging markets finance, cosponsored
by the World Bank and the Brookings Institution and held at Brookings in
late April 2005.
At the time of the conference, it had been a little less than eight years since
the onset of the Asian financial crisis, an event that had depression-like effects
throughout much of Asia and, for a time, seemed to threaten global economic
The eight studies presented in this volume are put together to provide
a new insight into the design of risk-management models in emerging
markets. The objective is to identify the specific characteristics
of emerging markets and specify the most appropriate methods of
risk management that suits those markets. The chapters report on
empirical studies carried out on a number of countries in Asia, Eastern
Europe, North Africa and other emerging markets in various continents.
The risk management processes described in this book had their genesis well over 20 years ago when I accepted a position at the University of Southampton. There I met and worked with Dr Chris Chapman, already an acknowledged expert in project risk, with an established relationship with BP and an extensive client base in Canada. Chris involved me in his consulting activities in North America, primarily associated with quantitative risk analyses of large projects in the hydroelectric and the oil and gas industries....
Although the growing literature on the importance of finance in economic growth contrasts
bank-based financial systems with market-based financial systems, little attention has been paid to the
role of the bond market. Correspondingly the role of the bond market has been very small relative to
that of the banking system or equity markets in most Asian emerging economies. We argue that the
underdevelopment of Asian bond markets has undermined the efficiency of these economies and
made them significantly more vulnerable to financial crises....
– Firm issues securities, which are
made available to both individual
and institutional investors.
• Private Placement
– Securities are offered and sold to a
limited number of investors.
–Market in which new issues of a
security are sold to initial buyers.
• Secondary Market
–Market in which previously issued
securities are traded.
Michael A. Crain.
It has been said that determining the value of an investment in a closely held business is similar to analyzing securities of public companies. The theories are similar and not overly complex on the surface. There are even Web sites that proclaim to be able to value a private business. But like so many things in the business world, the devil is in the details.
This is a thought-provoking and invaluable book for anyone who
cares about risk communication and management in the 21st century.
Professor Löfstedt, via a number of case studies and the latest theoretical
analysis, offers new insights on how regulators and policy-makers
can best win back the public’s trust in the era of post trust.’—Anna
Jung, Director General, European Food Information Council
The ability of privately insured individuals to obtain faster access to care is significantly
influenced by governmental policies and approaches. Allowing public providers to treat both private and
public patients and to receive different remuneration levels for these separate activities can encourage their
involvement in the private sector. This spurs the development of a market for PHI products offering access
to more timely elective care in the private sector.
Demand expression varies by the kind of goods or services being
delivered. Water supply and latrines are an example of essentially
private goods, goods that are individually used and for which indi-
vidual users can express and realize a willingness to pay. Public
choices are more complicated with respect to public goods such as
schools or rural roads; a differentiated strategy for eliciting demand,
depending on the kind of subproject that is being produced, is needed.
Society relies on well-functioning capital markets to promote economic progress in
businesses and households. To that goal, academics argue that capital markets should
provide for price discovery and liquidity, where the best way to find out what an asset
is worth is to attempt to sell it. As long as there are a large number of market
participants, bidding among them leads to price discovery, and an asset is sold quickly
resulting in liquidity. Moreover, in a well functioning market the price should be close to
its intrinsic value.