Cost of Capital: Estimation and Applications (CPA Practice Guide)

Book Description

Proven, practical techniques for estimating the cost of capital
"I would recommend Cost of Capital and the companion Cost of Capital Workbook as excellent tools for passing the various professional exams that lead to valuation accreditations and designations."
-James R. Hitchner, Phillips Hitchner Group, Inc., Atlanta, Georgia
"As a discussion leader for the AICPA ABV exam review course, this set of questions is perfect for people to use for practice for that exam and others (ASA and NACVA from my experience), for that matter. The mix of formats, including exercises, is great."
-Ronald L. Seigneur, Seigneur & Company, PC, CPAs, Lakewood, Colorado
"The exercises are particularly good."
-Stephen J. Bravo, Apogee Business Valuations, Framingham, Massachusetts
Cost of capital estimation has long been recognized as one of the most critical elements in business valuation, capital budgeting, feasibility studies, and corporate finance decisions-it is also, however, one of the most difficult procedures to perform and assess. The Cost of Capital Workbook will help financial officers of small, midsize, and even multibillion dollar companies estimate required rates of return and tackle the myriad issues associated with cost of capital. It will also help business valuation professionals of all levels to gain a greater understanding of cost of capital concepts and procedures.
Using hands-on exercises designed to implement procedures described in Cost of Capital, Second Edition, the Cost of Capital Workbook provides a deeper understanding of cost of capital problems by offering a practical experience in applying solutions. The Workbook includes multiple choice, true or false, and fill-in-the-blank questions as well as:
* Exercises estimating cost of capital by the build-up model and the Capital Asset Pricing Model
* Exercises using Ibbotson Associates' Stocks, Bonds, Bills, and Inflation Valuation Edition Yearbook
* Applications using discounted cash flow (DCF) methods, based on forecasted earnings and cash flows
* Examples covering valuing a business by both equity and invested capital procedures, making project selections, and utility-rate determinations
* Numerous exercises using Ibbotson data from the Cost of Capital Workbook
Business appraisers, corporate finance officers, CPAs, and attorneys will find the Cost of Capital Workbook an indispensable guide to the effective estimation and application of cost of capital.

Customer Reviews:

Best Valuation Tool Available.......2000-12-19

Pratt took his many years of valuation experience and put it in this one book. The book reviews the theory and practice of how to derive a discount rate for use in a DCF. At present, it's the best book in print for appraisers.

For valuation of nonpublic companies - A good read!.......2000-01-31

The valuation profession has exploded among CPAs, CBAs and others who attend a few seminars and then undertake to do this complicated work. Many end up doing a shabby job, because they do not understand basic concepts of cost of capital. The understanding of aspiring business appraisers will grow from reading this book, as (I believe) mine did.

This book is NOT written by an academician (although I think I recall that Shannon has a PhD in finance). A fair example of an academician's work, reflecting a different approach and serving different needs, is Bradford Cornell's fine work on the equity risk premium.

Pratt has authored several classic books on business valuation. He has valued thousands and testified in US Tax Court, state courts and federal courts across the country. He continues to speak to business appraisers across the country. This book summarizes issues he knows need to be better understood by those of us who consult with closely held businesses.

This is a short book and an easy read, but packed with good information for those who want to better understand the cost of capital in the context of valuing small businesses.

101 Fudge Factors For Those Ignorant of Risk Neutral Pricing.......1999-05-30

This book should be titled "I do not know how to price all risks when valuing companies so here are 101 fudge factor guesses I use instead". This is the wrong way to value companies and is inconsistent with financial asset pricing theory. Look elsewhere for better resources.

Plant Management Guide to Accounting and Finance

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Plant Management Guide to Accounting and Finance
Donald W. Moffat , and Greg A. Poage
Manufacturer: Prentice Hall
ProductGroup: Book
Binding: Hardcover

General | Business & Investing | Subjects | Books

The Fastest Growing Plants - A Planter's guide to planting the fastest growing plants

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The Fastest Growing Plants - A Planter's guide to planting the fastest growing plants
Editors of SmithRiley
Manufacturer: Smith Riley Edoc
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books

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Book Description

A list of the fastest growing land plants in the world, their growth rates, growing zones and more. Pictures of the plants provided as well as growing recommendations.

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Plant Management Guide to Accounting and Finance
Donald W.; Poage, Greg A. Moffat
Manufacturer: Prentice Hall
ProductGroup: Book
Binding: Hardcover
ASIN: B000OIR5MO

Book Description

The Internet's most valuable investment sitesnow at your fingertips! More investors than ever trade and research investments onlineyet few truly understand the awesome potential at their fingertips! Mining for Gold on the Internet directs investors to hundreds of resources for free information and software. More than simply a directory of useful Web sites, this timely guide analyzes online financial and investment resources, saving readers time and frustration by showing them exactly where to go. Actual screen shots guide the reader through sample websites, and concise, self-standing chapters give readers only the information they need. Highlights include: Detailed instructions for downloading free investment software Tips and pointers on using the Net to manager personal finances

How to Find Financial Information (Management Solution Series)

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How to Find Financial Information (Management Solution Series)
Washington Researchers Ltd
Manufacturer: Washington Researchers
ProductGroup: Book
Binding: Paperback

How to Find Financial Information About Companies

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How to Find Financial Information About Companies
Washington Researchers Ltd.
Manufacturer: Washington Researchers Ltd.
ProductGroup: Book
Binding: Paperback
ASIN: 1563650843

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How to Find Financial Information About Companies

Manufacturer: Washington Researchers
ProductGroup: Book
Binding: Paperback

Corporate Finance | Finance | Business & Investing | Subjects | Books

General | Business & Investing | Subjects | Books
ASIN: 0934940878

How to Find a Financial Advisor Online.(financial services information)(Brief Article): An article from: San Diego Business Journal

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How to Find a Financial Advisor Online.(financial services information)(Brief Article): An article from: San Diego Business Journal

Manufacturer: CBJ, L.P.
ProductGroup: Book
Binding: Digital

General | Business & Investing | Subjects | Books

Book Description

This digital document is an article from San Diego Business Journal, published by CBJ, L.P. on June 4, 2001. The length of the article is 7307 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: How to Find a Financial Advisor Online.(financial services information)(Brief Article)
Publication: San Diego Business Journal (Magazine/Journal)
Date: June 4, 2001
Publisher: CBJ, L.P.
Volume: 22 Issue: 23 Page: A6

Article Type: Brief Article

Distributed by Thomson Gale

Researching Company Financial Information (How to Find Financial Information About Companies)

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Researching Company Financial Information (How to Find Financial Information About Companies)
Washington Researchers
Manufacturer: Washington Researchers
ProductGroup: Book
Binding: Paperback

General | Business & Investing | Subjects | Books

General | Reference | Business & Investing | Subjects | Books

General | Reference | Subjects | Books
ASIN: 1563659557

Book Description

Accurate financial information about a company is critical in assessing its health and future prospects. Unfortunately, private companies rarely make this data public. Finding it, is a challenge, but one that is easily met by this indispensable guide. It shows you how to find critical financial information on any company or business unit, no matter how secretive. You'll learn how and where to find data on sales, expenses, profitability, assets, and liabilities. Published by Washington Researchers Ltd.

Book Description

This Elibron Classics book is a facsimile reprint of a 1884 edition by A. Marescq ainé. A.Chevalier-Marescq, successeur, Paris. Page 205 is missing from this reprint.

Book Description

Chemistry: An Introduction To General, Organic, And Biological Chemistry, Ninth Edition makes chemistry exciting to readers by showing them why important concepts are relevant to their lives and future careers. The text retains the many features that have made it so successful: a clear and friendly writing style, a modernized design, Career Focus features, macro-to-micro art work, modern applications and pedagogical tools. Measurements, Atoms and Elements, Nuclear Radiation, Compounds and Their Bonds, Chemical Reactions and Quantities, Energy and Matter, Gases, Solutions, Acids and Bases, Introduction to Organic Chemistry, Unsaturated Hydrocarbons, Organic Compounds with Oxygen and Sulfur, Carboxylic Acids, Esters, Amines, and Amides, Carbohydrates, Lipids, Amino Acids, Proteins, and Enzymes, Nucleic Acids and Protein Synthesis, Metabolic Pathways and Energy Production. For all readers interested in receiving an introduction to general, organic, and biological chemistry.

Customer Reviews:

Chemistry: An Introduction to General, Organic, and Biological Chemistry with The Chemistry Place CD-ROM (9th Edition).......2006-11-08

Great textbook. Very clear and thorough. Since I am having to teach myself this Chemistry course this semester, I am greatful that I at least have a good book to work with.

Book Description

In the common sense, migration is considered by many authors as a mechanism for avoiding unfavorable environments by moving to expectedly more auspicious locations at different times. In other terms, migration may represent the seasonal movement of organisms from place to place owing to the change in the environmental conditions. Consequently, two important questions arise to mind, why do some animals migrate? How would migration affect the gene pool? Whatever are the answers, the cost of migration is the power required to move to a different location and the high possibility of death as a result of this movement.

The editor presents a suitable collection of topics, to achieve the goal of this book, which is explaining the migration of organisms through many examples of different groups of marine and non-marine organisms, ranging from micro-invertebrates to large vertebrates (mammals), and focusing on several aspects that are not collected together.

Book Description

The objective of the serial is to present considered reviews on the quantitative study of organic compounds and their behavior--physical organic chemistry in its broadest sense--in a manner accessible to a general readership.

Customer Reviews:

The best!.......2002-08-31

I recently completed my honors project for Dr. Tidwell at University of Toronto, and took two years worth of his organic chemistry courses... I have to say that they were the most enjoyable and understandable courses I have taken in my life, in fact I completed these courses in the top percentile of my class with very little studying on my own- I learned everything in his lectures! He wrote the authoritative book on Ketene chemistry, which all the researchers in that field use, and I used on my honors project. I think that he has a very good skill in presenting concepts in physical organic chemistry that has been honed with hard work over many years, and is also due to an obvious love of chemistry. I can't tell you about this book because I haven't read it yet, but when I can get the money (a little pricey for your average canadian graduate student...), I will hopefully complete my review.

Cumulative Subject Index Volumes 1-32, Volume 34 (Experimental Methods in the Physical Sciences)

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Cumulative Subject Index Volumes 1-32, Volume 34 (Experimental Methods in the Physical Sciences)

Manufacturer: Academic Press
ProductGroup: Book
Binding: Hardcover

Research | Social Sciences | Nonfiction | Subjects | Books

Research | Education | Science | Subjects | Books

Experiments & Projects | Experiments, Instruments & Measurement | Science | Subjects | Books

Methodology & Statistics | Experiments, Instruments & Measurement | Science | Subjects | Books

General | Science | Subjects | Books

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General & Reference | Technology | Science | Subjects | Books

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All Amazon Upgrade | Amazon Upgrade | Stores | Books

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ASIN: 0124759815

Cumulative Subject Index: Volumes 1-32 (Experimental Methods in the Physical Sciences, Vol 34)

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Cumulative Subject Index: Volumes 1-32 (Experimental Methods in the Physical Sciences, Vol 34)
Marc de Graef
Manufacturer: Butterworth-Heinemann
ProductGroup: Book
Binding: Paperback
ASIN: B000OHQC60

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Pleasant & hilarious spoof of small town Texas life.

"I Want to Buy a Vowel"

His best book

Good bus read

I Want to Buy Another Welter

I Want to Buy a Vowel: A Novel of Illegal Alienation
John Welter
Manufacturer: Algonquin Books
ProductGroup: Book
Binding: Hardcover

Contemporary | General | Literature & Fiction | Subjects | Books
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Begin to Exit Here

Night of the Avenging Blowfish: A Novel of Covert Operations, Love, and Luncheon Meat

Silver Master (Ghost Hunters, Book 4)

The Glass Castle: A Memoir

The Memory Keeper's Daughter

ASIN: 156512118X

Amazon.com

Alfredo Santayana, the protagonist of John Welter's third novel, is a Guatemalan emigre who thumbs his way to Texas in search of the good life North of the border. To attain this American dream, Santayana has a number of hurdles to clear, from learning English (which he does through the magic of television) to getting a green card. All of this is meant to be funny and to make a point, and while Welter succeeds in many ways, his book is diminished by the hackneyed characters and the slightly cliched storyline. Still, many of the set-ups are funny and no one could claim John Welter doesn't have a gift for making you laugh out loud. This satire of immigration in America produces plenty of chuckles.

Book Description

In I WANT TO BUY A VOWEL, Welter turns his talent for cultural analysis by wisecrack into a rib-tickling look at what it means to be an American today. "Welter's offbeat look at a community thrown off-kilter by xenophobia and religious smallmindedness is sprinkled with wry, comic moments and a steadfast awareness of social injustice."--Publishers Weekly.

Customer Reviews:

Pleasant & hilarious spoof of small town Texas life........2002-03-22

I Want to Buy a Vowel is a light, satirical look at small town life in Texas through the eyes of two key characters--eleven-year-old Eva Galt, the somewhat precocious and philosophical daughter of a local preacher and Alfredo Santayana, a Guatemalan émigré who thumbs his way to Texas in search of the good life North of the border and whose "command" of English is based on his exposure to the TV show "Wheel of Fortune".

Welter does a masterful job of setting the stage for the sort of offbeat antics that so color the life of a small town. There's the uproar over the sighting of an image of the Virgin Mary in a stamp machine in the local post office, the local grocers decision to paint a replica of the Sistine Chapel on his store ceiling and the discovery of what appears to be the residue of Satanic cult activities on the outskirts of town-your typical Texas summer stuff in Waxahachie, Texas.

The book works because Welter has a fine feel for gently gibing comedy on the one hand and a true gift for developing sympathetic and enjoyable characters, especially kids characters, on the other hand. Eva, particularly, is a delight, but even the more peripheral characters--such as the Sheriff, are delightful as well.

Welter also clearly understands the dynamics of the intricate web of character, tradition and circumstance that constitutes small town living.

The end result is a charming and extremely funny book that has you running back to the bookshelves hoping there is a sequel to be read. With luck, perhaps someday Welter will treat us to one.

"I Want to Buy a Vowel".......2002-01-14

With many funny scenes and lines "I Want to Buy a Vowel" would have to be the best book I have read so far. For the first time reading one of John Welters books, it certainly made a good impression on me. The book kept me interested and always waiting for more. The charters were well introduced and made the plot more interesting. What seems to be a book only about immigration turns out to be a mix of immigration and satanical rituals that seem to be going on in the town, which turn out to be practical jokes. Jokes, that happen to get out of hand and turn a town upside down. The author John Welter does a great job of introducing characters and a great job of making the book flow smoothly from scene to scene. I give this book four stars, and would recommend this book to everyone and especially to the people that don't like to read books, because this book would keep anyone interested with its humor.

His best book.......2001-07-21

I wanted to make a few brief comments for now, having recently finished this book. But I intend to write a more complete review soon as this book is certainly deserving of it.

Of Welter's three books this is by far and away the best. It has a sweetly surrealistic quality reminiscent of a Frank Capra film (such as It's a Wonderful Life), as Welter uses the predicament of a young Latino immigrant to pillory everything from organized religion to American politics and immigration law.

The book has some interesting characters, especially the high-school son of the local fundamentalist minister, who, unknown to the town, is behind the recently discovered evidence of a practicing Satanical sect on the outskirts of town--specifically, evidence of Satanic rituals which he is setting up as an elaborate practical joke. The local town, of course, doesn't see it that way, and the newspaper is continually abuzz with alarmist stories about possible Satanists in their midst.

The pair of little girl characters are an especially nice touch, as much of the book unfolds through their eyes and we see the humor and absurdity of the adult world reflected in their own naivete. Then there's also the kindly and worldly local sheriff, who just wants to avoid any violent lynchings of supposed Satanists (he is the only one in town, other than the son, who suspects it's a prank.

The book has many funny scenes and Welter has a nice idea for the ending. This book is definitely worth your time and money.

Good bus read.......2001-06-07

While this book does not go into any deep character development, I found the book a very enjoyable quick read. The premise is really good, the struggle of a naive illegal immigrant befriended by two little sisters, and I really liked the ending. Again, this is not a super deep book, but if you are looking for something easy, I recommend it.

I Want to Buy Another Welter.......2000-12-28

This is a book I'm recommending to everyone. As soon as I tell them "Well it's about this illegal alien who arrives in this country knowing only the line.....from watching Wheel of Fortune" their eyes light up, they chuckle, and say "that sounds GOOD!" Well, it is good. It's witty, it's clever, it's creative, but it's also thought-provoking, and tackles some weighty issues like prejudice, religious hypocracy, and what the one job is that nobody wants. I got hooked on Welter after Begin to Exit Here. Too bad he has written only three books. After finishing this one I went seriously cold turkey. Hope he gives us all our next fix soon.

I Want to Buy a Vowel: A Novel of Illegal Alienation

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I Want to Buy a Vowel: A Novel of Illegal Alienation
John Welter
Manufacturer: Algonquin Books
ProductGroup: Book
Binding: Hardcover
ASIN: B000O3XTPG

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