5 comments about Market Microstructure Theory.

1. This is the quintessential book on the theory of the microstructure of financial markets. Although it is not meant for people with just a casual interest in the area, it is nevertheless an indispensable book for academics and for people serious about the topic.

   It is also far more readable and understandable than Daniel Spurber's book which provides little of the working intuition of O'Hara. In fact Spurber is meant more for the theoretical economist with an interest in market microstructure, whereas O'Hara appeals to a broader audience in the field of finance.




2. I do not imagine a faculty of management's library without this book avalailable for M.Sc. and Ph.D. students.
   As opposed to another reviewer, I really liked the structure. Starting with inventory problems, then dealing with asymetric information and finally going thru agent's strategic behavior; you get the big picture regarding the main issues in market microstructure.
   Maybe a bit more detail and explanations on the derivation of some basic models would have been more value added. Unfortunately, you must move on to the original published academic paper to get a fully understanding of any particular model. You cannot rely exclusively on the book.



3. If you are serious about learning Market Microstructure this book is a great preview to reading the actual papers. It gives you enough intuition that you can approach classic papers by Stoll, Glosten and Milgrom, Easley and O'Hara, Kyle, etc.
   
   Also, you do not need a serious knowledge of the subject matter to open this book (although it helps to have an undergraduate level investments class under your belt). However, finance prerequisites aside, you should be prepared with a fairly thorough knowledge of microeconomics and statistics. A semester or two at a good graduate economics program should do the trick. Otherwise, this can be a tough read.



4. This book is probably best for someone with some formal economics or mathematics training. Or at least a reader with a strong interest in this field. If you are interested in microstructure and want a good review of current models, this book is for you.



5. Perfect to review material from various papers, very good for initial introduction to the field, very nice for systematizing the material!

No comments about Managerial Accounting for Managers.

3 comments about Accounts Receivable Management Best Practices.

1. This is a very well written book. However, it is not intended for someone who has never been in accounts receivable. There is an assumption that the reader has heard of Sarbanes-Oxley and other accounts receivable terminology. The book provides numerous case studies which are excellent ways the author drove home and supported his points.
   
   As someone who has been in accounts receivable but has never been an A/R manager, I feel very comfortable and confident in interviewing for an A/R manager position now. I was even able to ad a few points to my resume.
   
   The author provides numerous suggestions on how to improve the inflow of cash you, yourself can implement immediately.
   
   I read the entire book in one weekend; 192 pages with many additional case studies in the back as well as throughout the chapters.
   
   You will not be disappointed in this book!
   
   Michael Lewis



2. 
   It's one of the best book written about the receivable management. I strongly reccomend this book if you want to build your collections department up.



3. I hoped to find something useful in this book but the only good idea in this book is `how to separate the debtors in portfolio'. Everything else is NOTHING. Especially if you use an ERP solution you don't have to bother with what is said in this book.
   I don't need from someone to tell me what is in an invoice.
   I ask the writer of this book WHAT ABOUT RECEIVABLES MANAGEMENT!
   WHAT ARE THE KEY INDICATORS THAT WHOULD HELP SOMEONE....
   THIS BOOK DEOWSN"T WORTH PAYING FOR.

5 comments about Measure What Matters to Customers: Using Key Predictive Indicators (KPIs).

1. Ron Baker's latest book is a winner. The "Value Pricing" guru is back - this time with a great book on measuring what matters. Ron makes the case that we are measuring from the wrong perspective as we look backward (lagging indicators) and from the inside (busines operations point of view) when we should be looking forward (leading indicators) and outside-in (from the customer's perspective).
   
   Ron challenges the status quo and backs it up with great stories of great companies and a good historical background of peformance measures. I love his theory for the new formula of business : Profitability = IC (Intellectual Capital) x Effectiveness x Price. He then goes on to explain the three components of Intellectual Capital as Human Capital, Structual Capital & Social Capital. This new framework explains the new value creation companies and how to transform your business into a value creating machine. I recommend this book highly!



2. This book is compelling reading for two groups of people. Those that have been schooled in traditional accounting and business and the second group for those that believe that innovation and change is important for business success. This book shifts the focus from your view of the business to your customers view, and then challenges you to follow the indicators that measure value in their eyes.
   
   Ron provides credible argument that most of what we measure today has little impact on our future success. He then delves into the areas that are more appropriate indicators of future success.
   
   The book is exceptionally well researched and draws on thought leaders from most era's. It gives weight to trusting you instincts in business and provides a case for looking at those items that are harder to measure, but more valuable to follow.
   
   This is a must read and I highly recommend it.



3. Ron,
   
   I have just completed reading Measuring What Matters to Customers. I couldn't put it down and finished it off in three days. As I was finishing it I had the mixed emotion of being pleased to finish your message, but sad the story was coming to an end.
   
   You know I have kidded you about how academic Professional's Guide to Value Pricing was. Well, Measuring ranks right up there as an academic masterpiece, which is important in this day and age when it seems that everybody is just writing what they think. You should have been a college professor and your book would be worthy of text at Harvard Business School.
   
   I have been using business coaches for my family law practice for 20 years and I have read at least a hundred success and management books and I have lectured all over the U.S. and Canada and there are many previously unearthed gems in your book.
   
   First, traditional numbers usually don't help. I have been telling my advisors and support staff for years, "These numbers don't seem to help. I can be enjoying an unbelievable trend and then...boom, no business" Or, "No, there are no seasonal trends, sure some people put off divorce during the holidays but sometimes the holidays prompt other problems." Being told by you in no uncertain terms that there is no certainty is a blessing. Thank you. Other points of import:
   
   Each customer is different. (That's what the last one insisted in his recent exit interview...that he was different). So, focus your efforts on each one, not solely on a system for pleasing all.
   
   We need to pick three leading indicators, and the team needs to do it.
   
   
   Team workers are "knowledge workers" and "volunteers" and it is important to call them that and treat them like that.
   
   
   With good team members management needs to get out of the way and not demoralize them with negative feedback or scoring; and we further need to eliminate systems and procedures which interfere with what they are doing. We need to release our grip on our systems and ask the team members what systems help and what gets in their way.
   
   
   Measuring the wrong thing accurately can throw you completely off. Take time to carefully analyze situations outside of the facts. Your example about the World War II Bombers was unbelievable. The first thought was that the returning planes needed more armor where the bullet holes were. But Abraham Wald came to the opposite conclusion: that the armor needed to be placed where the bullet holes were not because the planes that made it back had survived even though being hit where they were.
   
   
   Being efficient at something irrelevant is a sign of impending disaster.
   
   
   The real things of value in life cannot be measured, something my more introspective teammates have been trying to tell me for years.
   
   It takes courage to go against the grain and that is what you have done. Keep up the good work.



4. I ordered this book by mistake, I skimmed through this looks interesting but i really dont need that, so did return.



5. This book contains no original thoughts. It is nothing but a collection of quotes from other thinkers and books. Don't waste your time!

No comments about The Complete CFO Handbook: From Accounting to Accountability.

5 comments about Operational Risk Management: A Case Study Approach to Effective Planning and Response.

1. Mark Abkowitz has written a well researched and pertinent book analyzing and assessing different kinds of disasters: man made, natural, and terrorist. He has done an amazing job pinpointing areas that can be changed, what probably can't change and what we as citizens can do to incorporate these ideas into more safety for our country, our community and our planet.
   
   I receommend this book to all who care about the next disaster and how it can be averted.



2. ON POINT! Dr. Abkowitz manages to engage the reader by using real-world examples and insightful analysis while providing an excellent read. This is a MUST for all who work in the field of risk/environmental management and a DEFINITE READ for anyone interested in obatining a "behind the scenes" look at some of the most horrific disasters of our time. Most importantly this book offers some valuable lessons in critical thinking that will assist anyone who must plan to prevent or respond to such risks in the future.



3. Abkowitz has compiled an impressive number of high profile case studies to illustrate our need to pay attention to the risks we have in our business operations, and for that matter, our personal lives. But unlike the multiple points of view found in the Harvard Business Review case studies, Abkowitz provides definitive analysis of "what went wrong" and allows us to see clearly what we might do in our own organizations to minimize operational risk.
   
   This excellent book is broken into Four Parts, comprising several chapters each. Those parts are; Man Made Accidents, Terrorist Acts, Natural Disasters, and Success Stories. Then the final chapter brings things together in "Lessons Learned," while the epilogue gives us some ideas on where we might go from here.
   
   Abkowitz notes in chapter one that there are 10 basic risk factors he considered: Design and construction flaws, Deferred maintenance, Economic pressure, Schedule constraints, Inadequate training, Not following procedures, Lack of planning and preparedness, Communication failure, Arrogance, and Stifling political agendas. Based on these, he analyzed many major disasters, summarized the results and gleaned some interesting lessons from the analysis.
   
   There were 12 "Lessons Learned" presented based on the 10 risk factors spelled out in chapter one. The 12 lessons are:
   
   1. Risk factors work together to generate an event with disastrous consequences
   2. Communication failure is a risk factor in every disaster, irrespective of whether the event is caused by accident, intentional act, or nature
   3. Take planning and preparedness seriously; it should never be short-changed
   4. Economic pressure is a chronic problem that appears as a risk factor in most man-made accidents and natural disasters and in some intentional acts
   5. Not following procedures is a significant problem in man-made accidents, and is also present in some natural disasters and intentional acts
   6. Design and construction flaws are the bane of man-made accidents
   7. Co not underestimate the significance of political agendas in creating high-risk situations
   8. Arrogance among individuals and organizations is perhaps a far more significant risk factor than previously imagined
   9. The lack of uniform safety standards across different nations creates an uneven risk management playing field, conditions ripe for exploitation
   10. Regardless of how well risks are being addressed, "luck" can change your fortunes one way or another
   11. It usually takes a disastrous event to convince people that something needs to be done
   12. Risk cannot be entirely avoided; nothing can be designed or built to perfection, nor last forever
   
   This book will be invaluable for those times when I'm searching for examples of why our organization needs to make a change. It should serve as a warning to all our leadership in private and public organizations that we must pay attention to and encourage proper planning and expenditures to mitigate our organizational risk.



4. Dr. Abkowitz has put together a fascinating and compelling book that explains why some of the world's worst disasters have occurred. He does an excellent job of pulling the reader in with a detailed narrative of what happened and then giving a sensible, easy-to-follow understanding of why the event or disaster happened and how it could've been prevented. Some of my favorite chapters included the Bhopal accident, Hurricane Katrina and the United Airlines success story. Overall, it's clear that many of these events could've been managed much better with proper planning, communication, funding and less arrogance on the parts of people in command. A great read and extremely informative.



5. Dr. Abkowitz has delivered a unique and fascinating read that combines case studies of what went wrong, what went right, and lessons learned. He analyzes three classifications of case studies in his book: man-made accidents, terrorist acts, and natural disasters. Each case is structured to give a detailed yet concise description of what happened, an examination of what went wrong, actions taken following the event, and the likelihood of a similar event occurring again. After reading a few cases, the reader begins to notice risk factor similarities and differences between cases. Often times you will find yourself thinking 'wow, I did not realize how many little things went wrong along the way leading up to the big event.' The success story case studies at the end of the book give many examples of how employing risk mitigation techniques in practice can pick up the numerous 'red flags' that usually precede disaster. It shouldn't always take a disaster to spark action.

1 comments about Accounting Policies and Procedures Manual: A Blueprint for Running an Effective and Efficient Department.

1. I was very impressed with this great book. It is a wealth of information and data. Thank you, Kathy

2 comments about Essentials of Managing Treasury (Essentials Series).

1. High level introduction
   Covers a good number of topics



2. This book is very easy for understanding the main activities and functions of Treasury. In Russia we have a big problem with information resources, that cover this field broadly. So, this item is relevant for people, who connected with treasury management or treasury systems development.
   Essentials of Managing Treasury helps me to understand basic principles of Treasury more profoundly and organize treasury system for controlling receipts and disbursements in my company in more optimal way.

5 comments about Needles Financial And Managerial Accounting.

1. My accounting professor was awful and it was this book that saved my grade in the class. It provides very detailed explanations and summaries of each concept it covers throughout the chapter, not just at the end of the section. The accompanying working papers and study guide were also very informative and helpful.



2. Best book so far for teahing accounting. This is the book for learning accounting.



3. First of all I paid for 2 days express shipping. The book came after 5 days.Then I did not get your guide to an A which is a free pakage that comes with a new book.The point of buying a new book was just because of this pakage.I am not very satisfied with the service.



4. hi i bought 2 books from these people for the first time in the past two weeks and i got the book on time and it was in great condition!
   thanks



5. I'm in an MBA program right now and still refer back to this book for my intermediate accounting course. I'm a tough judge on books, coming from the UC system, and let me tell you - this is one of the best written textbooks I have ever encountered. Period.

2 comments about Going Lean: How the Best Companies Apply Lean Manufacturing Principles to Shatter Uncertainty, Drive Innovation, and Maximize Profits.

1. This Audio CD of the Book "Going Lean" by Stephen Ruffa is a must have for the Lean Practitioner or any one in a leadership postion in the 21st Century who wants to lead their team to excellence.
   
   Ruffa does a great analysis and expands on current (2008) global business culture for multinational corporations in current times. Going Lean brings us up to date on earlier publication by Jim Womack, (The Machine that changed the World, Lean Thinking) and Liker's (The Toyota Way). Ruffa also gives credit and supports the early Lean Pioneers (Henry Ford, Ono, Deming, Peter Drucker and more experts within the recent age of digitalization and globalization.
   
   A good reference source for Business school students at the undergraduate and Graduate School Level.



2. When traditional managers apply traditional methods to chaotic events - Katrina, for example,or steep oil price increases - they get - you guessed it - traditional, disappointing results. Enter Steve Ruffa's approach to lean, as demonstrated by Toyota,Walmart and Southwest Airlines, three notches and two thousand miles above day to day lean operations. Ruffa provides hard answers and clear examples to the questions managers have been struggling with for over 15 years - how to take lean into bigger, crazier, more dangerous environments. Cross a hard aerospace engineer who loves real numbers, with great and flexible lean giants, and what you get is an over-riding lean approach dubbed Lean Dynamics by Shingo Prize winning author Ruffa, that US industries need right now. My only complaint? The title should have been Lean Dynamics.