Picture of the productArt & Science of Financial Risk Analysis
Financial risk can be described as both an Art and a Science. Various ratio calculations and number crunching exercises represent the Science. The Art is the actual interpretation and decision-making process whereby all types of company information are reviewed in conjunction with the ratio calculations. The analyst makes a final decision, based on past experiences, overall industry knowledge, the firm's financial trends, as well as the completion of a risk/reward assessment.

This book is intended to help the reader develop the Art and Science of financial risk analysis. It will address the needs of credit analysts looking for the basics, as well as those seeking a more in-depth understanding of various financial analysis techniques, such as the calculation of unexpected loss projections on a given portfolio of customer accounts. The book was formatted to step you through an understanding of the basic credit concepts and then build from there. As a result, topics include cash flow analysis, profitability analysis using the DuPont Model, company break even analysis, the concept of Economic Value Added (EVA), a suggested approach to bank analysis, and derivatives risk analysis. A thorough explanation will be provided with regards to the concepts of sustainable growth, credit scoring models, and distress or bankruptcy default probability models using the Z score, bond score, and Lambda predictor models. In addition, it will cover bank letters of credit, risk mitigating techniques, recent bankruptcy law changes, "financial shenanigans" and financial "warning signs" as well as an overview of the various business structures such as LLC's and Subchapter S Corporations. Also included is a chapter on how to write a financial analysis and recommendation. Included from a personal investment perspective are investor tips on how to read financial statements along with suggested ratio calculations from stock performance measures. Paperback, 296 pages, 2006.

Regular price: 21.95

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Picture of the productCorporate Financial Distress and Bankruptcy
Predict and Avoid Bankruptcy, Analyze and Invest in Distressed Debt, 3rd Edition, 2005

By our 2013 Credit Congress Education Session Speaker - Dr. Edward Altman

From the Publisher's Website:

Since the publication of the last edition of Corporate Financial Distress and Bankruptcy in 1993-considered by many to be the most authoritative finance book on this topic-the fields of corporate distress and bankruptcy, as well as related markets dealing with high-yield and distressed debt, have undergone enormous growth and change. Today, there's no doubt that bankruptcy is a big business, and over the last decade both professionals and academics have become increasingly interested in the activities surrounding this phenomenon.

In this newly revised Third Edition of Corporate Financial Distress and Bankruptcy, credit and corporate bankruptcy experts Ed Altman and Edith Hotchkiss update and expand the discussion of corporate distress and bankruptcy, as well as the related markets dealing with high-yield and distressed debt. In addition to expanded empirical and descriptive aspects of bankruptcy and credit analysis, this Third Edition offers state-of-the-art analysis and research on the costs of bankruptcy, credit default prediction, bankruptcy and distressed restructuring, and the post-emergence period performance of bankrupt firms.

Divided into two comprehensive sections, Corporate Financial Distress and Bankruptcy addresses a number of key issues central to your understanding of the restructuring process in Section One and deals with the development and implications of models built to classify and predict corporate distress in Section Two. Specific topics covered in the opening section include:

- An introduction to, and statistical background of, corporate distress and bankruptcy
- Evolution of the U.S. Bankruptcy Code, including the Bankruptcy Reform Act of 2005, and international comparisons
- Post-Chapter 11 performance
- Distressed firm valuation
- Highly leveraged restructurings
- Investing in distressed securities
- The high-yield bond market: risks and returns for investors and analysts
- Corporate governance in distressed firms

In Section Two, models for estimating default probabilities are discussed, followed by explanations of their applications to many different scenarios, including distressed debt investing, turnaround management and other advisory capacities, and legal issues. With respect to the discipline of turnaround management, you'll become familiar with the possibility of using distressed firm predictive models-for example the Z-Score approach-to assist the management of the distressed firm itself and facilitate its return to financial health.

Filled with in-depth insight and practical advice, Corporate Financial Distress and Bankruptcy offers a well-rounded look at the growth and evolution of distressed debt, corporate bankruptcy and credit risk in today's dynamic business environment.

Regular price: 65.00

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Picture of the productIFRS Simplified
Like it or not, International Financial Reporting Standards (IFRS) are coming and they will completely change how companies report their financial statements…Are you ready?

If you need to get up to speed fast regarding IFRS this is the book for you!

You will learn:

- GAAP vs. IFRS - what will change and what won't
- Who needs to comply?
- The four key principles of IFRS
- How disclosure requirements will change
- The new rules for assigning values to assets
- The deadlines for adoption
- How IFRS will affect SOX Compliance

Regular price: 29.95

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