Arbitrage Hedging and Speculation or Comparative International Accounting

Arbitrage, Hedging, and Speculation: The Foreign Exchange Market

Author: Ephraim Clark

Explains arbitrage, hedging, and speculation from the standpoint of a participant in the foreign exchange market--whether an individual trader or an institutional trader--who possesses analytical skill, economically sound judgment, and who has access to market data. In the foreign exchange market, arbitrage involves the simultaneous purchase and sale of a currency in different markets; the profit comes from the difference in the buying and selling prices. Hedging and speculation are opposing strategies for dealing with risk; hedging is a cover, and speculation is an assumption of risk. Authors also discuss futures, swaps, forward contracts, and other strategies. For financial scholars, students, analysts, and currency traders.

Table of Contents:

	Acknowledgments	vii
1.	Arbitrage, Hedging, and Speculation: The Foreign Exchange Market	1
2.	Currency Futures, Swaps, and Hedging	19
3.	Currency Options	51
4.	Hedging and Trading Strategies: Simple Options and Exotics	89
5.	Arbitrage and Hedging with Spot and Forward Contracts	131
6.	Arbitrage and Hedging with Options	155
7.	Arbitrage and Hedging with Forward Forward Contracts in Interest Rates	171
8.	Speculations in the Foreign Exchange Market	185
	Index	215

Book about: Volkswirtschaft der Strategie

Comparative International Accounting

Author: Christopher Nobes

Now firmly established as the leading text in the field, Comparative International Accounting takes a comprehensive look at the international dimensions of financial accounting and reporting. The book, which includes contributions from a diverse group of international practitioners and academics, has been carefully shaped into a coherent whole. This ninth edition has been extensively rewritten and fully updated to incorporate the latest developments in the field, especially the adoption of international standards in many countries.

Features
• Broad overviews supported by detailed information on real countries and companies;

• Across-the-board comparisons of major topics;

• Examination of the requirements of International Financial Reporting Standards and of US GAAP;

• Studies of accounting in Japan and China.

New to this edition
• Six brand new chapters have been added, including chapters on the regulation of accounting and the politics of standard setting;

• Separate consideration of group accounting by listed companies and of individual company accounting under domestic rules;

• More coverage of the impact of accounting differences on capital markets and on analysis;

Instructors’ resources include an expanded Suggested Answers section in the back of the book. Also, in addition to an Instructor’s Manual, unique PowerPoints for each chapter are now available online as well as links to real financial statements.

Comparative International Accounting is ideal for students at both undergraduate and postgraduate levels taking courses incomparative and international accounting.

 

Christopher Nobes is PricewaterhouseCoopers Professor of Accounting at the University of Reading, UK. From 1993 to 2001 he was a representative on the board of the International Accounting Standards Committee.

Robert Parker is Emeritus Professor of Accounting at the University of Exeter, UK. He was formerly editor of the journal Accounting and Business Research.

Both authors have received the American Accounting Association’s award of ‘outstanding international accounting educator’.

Additional student support at www.pearsoned.co.uk/nobes

 

Booknews

Twenty-one contributions from international practitioners and academics feature coverage of the context of international accounting; details of key countries (including Asian tiger economies); and summaries, references, review questions and further reading. The fifth edition includes new material on transfer pricing; a chapter on the international aspects of managerial accounting; a chapter on accounting in transition which looks at the experiences of eastern Europe and China; and a chapter which compares selected accounting systems in groups of countries. Annotation c. by Book News, Inc., Portland, Or.

Booknews

This textbook outlines international differences in financial accounting and reporting. It describes the causes of these differences and offers studies of individual countries, including the United Kingdom, the United States, the Netherlands, France, Germany, Japan, Australia, Canada, Singapore, Scandinavia, Italy, Spain, South Korea, and China. Issues like liabilities, consolidation, foreign currency translation, segment reporting, international financial analysis, international auditing, international aspects of corporate income tax, and managerial accounting are also discussed. Annotation c. Book News, Inc., Portland, OR (booknews.com)