About this product: A comprehensive, current survey of investment products and instruments
Thorough, accessible, and up to date, Financial Instruments is a guide to all of the financial products currently being traded in the world's markets. Through plain language and in a user-friendly format, David M. Weiss, author of After the Trade Is Made, outlines the many tools available and their unique functions, features, and structures.
Weiss breaks financial instruments into four broad groups: equities, debt, derivatives, and mutual funds. Under each heading, he explores the many types of related products, including exotic investments such as:
• American Depositary Receipts • Asset-Backed Securities • Structured Debt • Futures • Swaps • Unit Investment Trusts
Financial Instruments is an indispensable tool for finance professionals-portfolio managers, brokers, financial planners, and institutional investors. It's also a definitive resource for sophisticated individual investors.
About this product: This book is an authoritative guide to the accounting and disclosure rules for financial institutions and instruments. It provides guidance from a “fair value” perspective and demonstrates the simplest and most natural measurement basis for reporting financial instruments, as is relevant for thrifts, mortgage banks, commercial banks, and property-casualty and life insurers.
About this product: Designing and Implementing Software for Financial Instrument Pricing provides a step by step account of how to price financial derivatives using C++, design patterns and state-of-the-art numerical schemes and methods.
Written for those involved in the design and implementation of numerical models for financial derivative products, author Daniel Duffy takes a practical approach to realising these goals using C++, design patterns and state of the art numerical schemes and methods.
About this product: This practical book shows how to deal with the complicated area of accounting of financial instruments. Containing a huge number of sophisticated worked examples, the book treats this complex subject in a way that gives clear guidance on the subject. In an introductory, controversial overview of the subject, the book highlights the mistakes that both auditing firms and the accounting standard setters are making, and demonstrates the contribution the International Financial Reporting Standards have made to the current credit crisis.
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About this product: The passage of the Sarbanes-Oxley Act in 2002 has had sweeping implications for professionals involved in financial reporting, ranging from certification of financial reports by chief executives to a mandated study by the SEC of principles-based accounting standards, rather than rules-based (which is clearly the current state of affairs for financial instruments accounting). Financial Instruments: A Comprehensive Guide to Accounting and Reporting is written for practicing accountants and other professionals who need to understand the accounting for financial instruments. This unique book pulls together all of the existing accounting literature on financial instruments into one volume, organizes it logically, and describes the requirements as simply as possible. This comprehensive, topic-based approach will save practitioners time and effort in researching accounting issues. It includes guidance issued by the Financial Accounting Standards Board, the FASB's Emerging Issues Task Force and Derivatives Implementation Group. It also includes standards issued by the AICPA Accounting Standards Executive Committee, and the audit and accounting guides issued by various committees of the AICPA. This guide covers accounting requirements for public and private companies and touches on unique aspects of reporting financial instruments by nonprofit organizations. Over 400 pieces of authoritative literature are referenced in this book. Each chapter covers the relevant accounting questions for each type of instrument, including: - When and how to initially recognize the instrument in the balance sheet - How to measure the instrument in subsequent periods - How to recognize income or expense - When and how impairment must be recognized - When the instrument should be removed from the balance sheet - What disclosures should be provided in the footnotes. The text includes visual aids whenever possible; observations, such as differences between instrument types; practice point
Written by a renowned corporate financial advisor, this timely guide offers a comprehensive treatment of derivative financial instruments, fully covering bonds, interest swaps, options, futures, Forex, and more. The author explains the strategic use of derivatives, their place in portfolio management, hedging, and the importance of managing risk.
About this product: · Worked examples illustrating key points · Explanation of complex or obscure terms · Full glossary of terms
The titles in this series, all previously published by BPP Training, are now available in entirely updated and reformatted editions. Each offers an international perspective on a particular aspect of risk management.
Topics in this title include convertible bonds and exchangeable bonds, prices and yields, convertible bond markets, preferred stock, and equity warrants and mezzanine finance.
About this product: Numerical methods for the solution of financial instrument pricing equations are fast becoming essential for practitioners of modern quantitative finance. Among the most promising of these new computational finance techniques is the finite difference method-yet, to date, no single resource has presented a quality, comprehensive overview of this revolutionary quantitative approach to risk management.
Pricing Financial Instruments, researched and written by Domingo Tavella and Curt Randall, two of the chief proponents of the finite difference method, presents a logical framework for applying the method of finite difference to the pricing of financial derivatives. Detailing the algorithmic and numerical procedures that are the foundation of both modern mathematical finance and the creation of financial products-while purposely keeping mathematical complexity to a minimum-this long-awaited book demonstrates how the techniques described can be used to accurately price simple and complex derivative structures.
From a summary of stochastic pricing processes and arbitrage pricing arguments, through the analysis of numerical schemes and the implications of discretization-and ending with case studies that are simple yet detailed enough to demonstrate the capabilities of the methodology- Pricing Financial Instruments explores areas that include: * Pricing equations and the relationship be-tween European and American derivatives * Detailed analyses of different stability analysis approaches * Continuous and discrete sampling models for path dependent options * One-dimensional and multi-dimensional coordinate transformations * Numerical examples of barrier options, Asian options, forward swaps, and more
With an emphasis on how numerical solutions work and how the approximations involved affect the accuracy of the solutions, Pricing Financial Instruments takes us through doors opened wide by Black, Scholes, and Merton-and the arbitrage pricing principles they introduced in the early 1970s-to provide a step-by-step outline for sensibly interpreting the output of standard numerical schemes. It covers the understanding and application of today's finite difference method, and takes the reader to the next level of pricing financial instruments and managing financial risk.
Praise for Pricing Financial Instruments
"Pricing Financial Instruments is the first broad and accessible treatment of finite difference methods for pricing derivative securities. The authors have taken great care to clearly explain both the origins of the pricing problems in a financial setting, as well as many practical aspects of their numerical methods. The book covers a wide variety of applications, such as American options and credit derivatives. Both financial analysts and academic asset-pricing specialists will want to own a copy."-Darrell Duffie, Professor of Finance Stanford University
"In my experience, finite difference methods have proven to be a simple yet powerful tool for numerically solving the evolutionary PDEs that arise in modern mathematical finance. This book should finally dispel the widely held notion that these methods are somehow difficult or abstract. I highly recommend it to anyone interested in the implementation of these methods in the financial arena."-Peter Carr, Principal Bank of America Securities
"A very comprehensive treatment of the application of finite difference techniques to derivatives finance. Practitioners will find the many extensive examples very valuable and students will appreciate the rigorous attention paid to the many subtleties of finite difference techniques."-Francis Longstaff, Professor The Anderson School at UCLA
"The finite difference approach is central to the numerical pricing of financial securities. This book gives a clear and succinct introduction to this important subject. Highly recommended."-Mark Broadie, Associate Professor School of Business, Columbia University
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