... examine pre-existing theories and
puzzles in finance, in both the investments and corporate finance areas. It has
seemingly created the most innovative and popular link between the two areas.
In ... Street, Covent Garden, London WC2H 9HE
Printed in Singapore.
ADVANCES IN QUANTITATIVE ANALYSIS OF FINANCEAND ACCOUNTING
VOLUME 3
Essays in Microstructure in Honor of David K Whitcomb
March 9, ... uninformed traders to trade at the same time. This,
in turn, implies liquidity clustering in an environment in which informed trading
further exaggerates the clustering effect. In Scharfstein and...
... Insiders Guide to FinanceandAccountingin Higher Education4
ã There have been major improvements in governance, which should make
internal monitoring more effective
ã Financial planning and ... owed to an institution to
what is owed by an institution to others (including
overdrafts).
An Insiders Guide to FinanceandAccountingin Higher Education28
ã Liquidity (cash plus investments ...
management
in HEIs works.
Much expenditure
is directly or
indirectly matched
to income.
An Insider’s Guide to FinanceandAccountingin Higher Education34
Appendix One
Specimen Income and Expenditure...
... 224 firms: 70 in CHEM, 77 in COMP, and 77 in
ELEC. The sampling period for the computation of TRA(i, j, t),INT(i, j, t)
and TER(i, j, t) runs from 1976 to 1997. Including non-US firms in the sample
is ... ariables included in Model 1, patent counts and R&D expen-
ditures enter the regression in Model 2. In Model 3, the three measures
of knowledge spillovers, namely, intraindustry, internal and interindustry
spillov ... for intra- and
inter-industry spillovers are positive and significant. In particular, the face
v alues of the estimates suggest that interindustry spillovers have a stronger
impact than intraindustry...
... problems in financial management, financial
accounting, and business management. The objective is to promote interaction
between academic research infinanceandaccountingand applied research in ... in the quantitative analy-
sis of financeand accounting. The publication is a forum for statistical and
quantitative analyses of issues infinanceandaccounting as well as applica-
tions of ... relationship is
convex in both earnings and book
value,
and that the relative explanatory power
of earnings and book value vary with accounting profitability. Collins, Pincus,
and Xie (1999) supplement...
... 3:16 spi-b483 Advances in Quantitative Analysis of Financeand Accounting: Vol.5 edtbd
Advances in Quantitative Analysis of Financeand Accounting
Editorial Board
Cheng F. Lee Rutgers University, ... Advances in Quantitative Analysis of Financeand Accounting: Vol.5 ch02
Chapter 2
Testing of Nonstationarities in the Unit Circle,
Long Memory Processes, and Day of the Week
Effects in Financial ... dd} if and only if f
d
(
d
) = 0andB
d
= b
d
(
d
)/R.Further
observe that the continuous function f
d
(
d
) is decreasing and linear for
d
≤
uu
,
d
≥
dd
and linear and decreasing, constant,...
... 6
6741 tp.indd 2 2/1/08 9:14:30 AM
ADVANCES IN QUANTITATIVE ANALYSIS OF
FINANCE AND
ACCOUNTING
February 18, 2008 16:13 spi-b567 Advances in Quantitative Analysis of Financeand Accounting: Vol.6 ... objective is to promote interaction
between academic research in finance andaccountingand applied research in
the financial community and the accounting profession.
The chapters in this volume cover ... Volume 6
Advances in Quantitative Analysis of FinanceandAccounting is an annual
publication designed to disseminate developments in the quantitative analy-
sis of finance and accounting. The publication...
... Pricing Policies 46
References 49
3
2. DFAS Background
Founded in 1991, the Defense FinanceandAccounting Service merged finance
andaccounting operations that were previously separate and ... iii
Preface
In 1999, RAND published Defense Working Capital Fund Pricing Policies: Insights
from the Defense FinanceandAccounting Service (Keating and Gates, 1999). That
document analyzed the Defense Finance ... economies of scale and a reduction in the number of disparate finance
andaccounting systems in use.
DFAS Organization
DFAS is headquartered in Arlington, Virginia. Reporting to the headquarters...
... businesses, or thinking of doing so.
ã Business people in nonfinancial positions who want to be better versed in
financial matters.
ã BBA or MBA alumni who want a refresher infinanceand accounting.
26 ... amount of income available for paying interest is simply earnings be-
fore interest and before income taxes. (Business interest expense is deductible
for income tax purposes; therefore, income taxes ... provid-
ing free roadside assistance and loaner cars when customer cars are
being serviced.
2. Maintaining prices but reducing the quantity of product in the pack-
age. Candy bar manufacturers and...
... (1999)
Aircraft engines, automotive Avco Financial
parts, and finance
Services
Watts Industries Inc. (1999)
Valves for plumbing, heating
Industrial oil and gas
and water quality industries
businesses
SOURCES
: ... separate line items within the listing of
revenues or gain and expense or loss, or are included in an “other income (ex-
pense)” line. A sampling of nonrecurring items found in the other-income -and-
expense ... listed in Exhibit 2.13 represent changes in accounting
estimates as opposed to accounting principles. Changes in depreciation method
are changes inaccounting principle, whereas changes in depreciable...
... “rise-over-run” using the y-axis intercept and that point. For this calculation my
line intersected the June data at point ($13,500, $15,500) so my rise was $11,500
($4,000 to $15,500 in Total Cost) and my ... buying books in large quantity from publishers, warehousing
them, and selling in smaller quantities to bookstores. Of course, the last piece
is the bookstore, where in- store promotion and the final ... cases of dumping have involved the textile and
steel industries. Another recent case of dumping concerned Japanese auto
companies accused by U.S. competitors of dumping minivans in this country.
Also,...
... Web-based marketing and selling, rather than
transaction processes and the hiring and training of people involved in these
processes. In addition, the avoidance of investment in this type of infrastruc-
ture ... fulfillment, tracking, and customer-information stor-
age and mining. All these systems must talk to one another, which means that
interfaces must be maintained. This interfacing is a nightmare ... investors see the value in your using their investment dol-
lars and your creative energy to build transaction-processing systems that are
suboptimal in scale and soon obsolete? In you spending...
... cost as little as $100. In higher-priced inkjet printers, print quality is
excellent in black -and- white and color. Today many people are using high-end
inkjet printers to print pictures taken with ... Understanding the Numbers
Internet Multimedia
The Internet provides an amazing plethora of information, and not just in text
or still-picture format. Video and audio streaming media is becoming increas-
ingly ... American Accounting
/Accounting/ raw/aaa Association
Financial Management Site
www.fma.org Homepage of the Financial Management
Association International, with lots of useful
information and many links...
... incurred in the manufacturing process. Beginning and end-
ing inventories consist of raw materials, work -in- process, and finished goods.
Administrative Expense Budget (7–10)
The expected administrative ... in the bud-
geted income statement is budgeted after-tax net income.
Nonoperating items in C&G’s income statement include interest income
and interest expense. Amounts borrowed carry an interest ... on budgeting from a business
perspective, many of the principles are also applicable to individuals in the
planning of their personal finances.
192 Understanding the Numbers
extend linearly with...
... family
law, and so on, right down to individual lawyers in the firm. And knowing what
has happened in the past, they have an excellent tool for beginning to plan for
the future. I think we should be doing ... questions and answers on this and many other accounting
topics. The Institute of Management Accountants maintains a site at www
.imanet.org that provides all kinds of managerial accounting resources. ... cost into a quasi-variable cost by finding and using the appropriate
cost driver.
“Controlling fixed costs is also a matter of scale. Consider the machine
again. Assume one has just one machine...
... (preferably in writing) setting forth their understandings on the many
issues which will arise in such an arrangement. Principal among these are the
investments each will make in the business, the ... filing an application with the state government and paying the
234 Planning and Forecasting
time to cash in on their efforts as founders and promoters. The survival of the
business as a whole in ... are publicly traded) and will rarely be sig-
nificant to a small business such as those described at the beginning of this
PART TWO
PLANNING AND
FORECASTING
Choosing a Business Form 235
of existence...