...be used as additional reference material by Queensland Government agencies when managing software. Agencies should consider the information provided as reference material and interpret it in the context of their own agency methodologies. ISO/IEC 19770-1 Audit Checklist This checklist has been developed to be used in conjunction with ISO/IEC19770-1 Information technology – Software asset management – Part1: Processes (the ISO Standard), and should not be used in isolation from this Standard. The checklist has been developed to assist agencies to perform self-audits to monitor their progress towards best practice in software license management. The checklist outlines elements that should be met in order to be fully compliant with the ISO Standard. It may be used by Agencies to guide where improvements can be made in managing software licensing. Each element may be audited separately to check on progress towards maturity in specifically targeted areas, however, compliance with all element will ensure that the agency is aligned with industry best practice in software license management. The ‘Evidence’ section of the checklist outlines possible evidence that auditors may consider when evaluating level of compliance. This list can be modified to reflect individual agency requirements and is not intended as an exhaustive list. This checklist includes elements that may not be relevant to every agency, and fall outside the requirements of IS45 – for example, Software Development...
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...ASCI JOURNAL OF MANAGEMENT 29(1). 39-48 Copyright ? 1999 - Administrative Staff College of India. R. VAIDYANATHAN Asset-liability management: Issues and trends in Indian context This paper discusses issues in asset-liability management and elaborates on various categories of risk that require to be managed. It examines strategies for asset-liability management from the asset side as well as the liability side, particularly in the Indian context. It also discusses the specificity of financial institutions in India and the new information technology initiatives that beneficially affect asset-liability management. The emerging contours of conglomerate financial services and their implications for asset-liability management are also described. Asset-liability management basically refers to the process by which an institution manages its balance sheet in order to allow for alternative interest rate and liquidity scenarios. Banks and other financial institutions provide services which expose them to various kinds of risks like credit risk, interest risk, and liquidity risk. Asset liability management is an approach that provides institutions with protection that makes such risk acceptable. Asset-liability management models enable institutions to measure and monitor risk, and provide suitable strategies for their management. It is therefore appropriate for institutions (banks, finance companies, leasing companies, insurance companies, and others) to focus on asset-liability management...
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...ASSIGNMENT TCP 1241 – Computer Programming II INSTRUCTIONS A. Grouping | * Min ONE student, Max THREE students * STRICTLY NO COPYING from other group | B. Deliverables | * Report hardcopy- refer Guidelines in part E.- code is not required to be printed. * Demo- prepare the softcopy of the codes (virus free) and ensure it is in proper working condition. You will have to demo how your system works and will be asked for questions to verify your work. The demo date will be announced later.Note: * Anyone caught to have submitted a copied work will be awarded a zero, including the group that the original code belongs to. Codes that are downloaded from the web receives the same fate as well. * Late submission will be punished by deducting 5 marks per day. | C. Important Dates | * Report hardcopy is to be submitted to your lecturer on 23 January 2015 (Friday) before 4pm. | D. Problem StatementThe objective of this assignment is to refresh and enhance the skills of the students in problem solving involving functions, arrays, classes and others using the C++ programming language. Students MUST use the inheritance concepts in the OOP. Students are required to select a title from the list below and register with your tutor (First come first serve). Your program must be able to perform the following functions based on your chosen title: 1. Add/register new accounts. 2. Delete and cancel existing records. 3. Modify existing records. 4...
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...the DFA emphasized on participation by all present. • The first paper was presented by the Senior Manager, Final Accounts/ K.M.Jemaku. Titled: FIXED ASSET MANAGEMENT – OPERATION & CHALLENGES: It defined and classified fixed assets, their management, depreciation and disposal. The management of Fixed Assets was noted to be a huge challenge to Finance & Accounts Department because of the many lapses imminent. The Sun System Fixed Assets module captured most of the detail data identifying an asset, and provides information automatically. Each asset is then assigned a code to further give the required peculiarity in the database. The presenter identified the challenges as follows; - Time lag between coding and labeling of assets. - Difficulty in tracing assets to assigned locations. - Failure to code some assets making disposal difficult. - Inability to reconcile physical assets with the register. Other issues relating to management of Fixed Assets were mentioned as; - Disposal of such assets without the knowledge of Finance Dept. - State Offices charging assets disposed to sundry income. - Vandalizing of assets particularly computers. - Wrong classification of assets by Admin/Stores. - Unregistered transfer of assets from one user to another. - Non-clarity of location of assets. - Non recognition of...
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...liabilities, and its loans and investments are its assets. It generates revenues in a variety of different ways including interest, transaction fees and fees for financial advices. The main method is via charging interest on the funds it lends out to customers. The bank profits from the differential between the level of interest it pays for deposits and other sources of funds, and the level of interest it charges on its lending activities. Fluctuation in market interest rate may adversely affect the profitability of a bank. This fluctuation exposes the bank to interest rate risk. Also, a bank must pay its depositors’ money on demand. If it does not maintain sufficient liquidity it may face liquidity crisis. Again, the price a bank can demand on its loans is often dependent on its cost of fund. Moreover, every scheduled bank in Bangladesh has to maintain 5% of its average total demand and time liabilities in cash with Bangladesh Bank. Also, every scheduled bank has to maintain 18% (including CRR) of its average total demand and time liabilities in cash, gold or as unencumbered approved securities daily with Bangladesh Bank. Again, at present every scheduled bank has to maintain a minimum capital requirement of 9% of Risk Weighted Assets. From July 01, 2011 this requirement will be 10%. To hedge itself against interest rate and liquidity risk, to price its loans, and to meet regulatory requirements a bank must manage its assets...
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...process analysis and change management, and cross-functional collaboration leadership. Domain expertise in marketing, product development, technology engineering, healthcare and financial services. Applies strong coordination, analysis, communication, and thought leadership skills to drive project and program success. Core competencies include: Business\IT Liaison Content and Digital Asset Management Team Collaboration Leadership Change Management Leadership User Support and Training Development Requirements Management Business Process Analysis Professional Experience Rockwell Automation, Milwaukee, WI, 2009 to present Business Systems Analyst For a global developer of industrial automation control and information solutions, lead requirements and change management, quality assurance, research and development to support strategic web-based Marketing initiatives. For a multi-phase, multi-million dollar program with Rockwell’s Web Customer Experience Program: Facilitated acquisition and deployment of web content management system (WCMS) in support of corporate web initiatives. Manage business analysis process for redesign of the Allen‐Bradley and Rockwell Automation corporate web sites. Gather and validate business and functional requirements from business process owners and teams. Manage quality assurance and test planning for deployment of new web sites. Perform content analysis and migration for onboarding legacy digital assets into WCMS. Coordinate relationships...
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...achievements of Coca-Cola‘s business strategy. Coca-Cola has operations in over 200 countries worldwide. This requires Coca-Cola development of collaboration technology in order to help them get access quickly and given a structured form of information. Coca-Cola is using a standardized platform web for knowledge sharing. One way in which Coca-Cola was able to innovate in its collaboration was to create a digital asset management system, in which Coca-Cola and its bottlers could actually make use of a pit of information containing demographics, historic performances, as well as previous marketing strategies, and lessons learned. They were able to make use of this information by creating an online Content Management System which allowed them to tag and catalog what information was available, so that it was discoverable and retrievable through a standardized platform. This online Content Management System allows the company and its many bottlers to be more efficient, which increases sales and marketing. 2. Coca-Cola is using both internally and externally knowledge management systems to manage its business model. Coca-Cola’s IBM’s Content Manager Software creates an online...
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...978-0-511-33725-3 ISBN-10 0-511-33725-6 eBook (EBL) ISBN-13 ISBN-10 paperback 978-0-521-89077-9 paperback 0-521-89077-2 Cambridge University Press has no responsibility for the persistence or accuracy of urls for external or third-party internet websites referred to in this publication, and does not guarantee that any content on such websites is, or will remain, accurate or appropriate. Contents Preface 1 Single period models Summary 1.1 Some definitions from finance 1.2 Pricing a forward 1.3 The one-step binary model 1.4 A ternary model 1.5 A characterisation of no arbitrage 1.6 The risk-neutral probability measure Exercises Binomial trees and discrete parameter martingales Summary 2.1 The multiperiod binary model 2.2 American options 2.3 Discrete parameter martingales and Markov processes 2.4 Some important martingale theorems 2.5 The Binomial Representation Theorem 2.6 Overture to continuous models Exercises Brownian motion Summary 3.1 Definition of the process 3.2 L´ vy’s construction of Brownian motion e 3.3 The reflection principle and scaling 3.4...
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...” A number of key characteristics make 130/30 strategies attractive to institutions. The most oft-cited of these is the promise of enhanced alpha. In the traditional long-only equity space, a variety of constraints limit the ability of good managers to fully express their views in the construction of their portfolios. One of the most punitive of these is the “long-only constraint”.By relaxing the long-only constraint, a manager has the ability to increase his risk-adjusted return. 2By virtue of their construction and market exposure, 130/30 strategies fit easily into an institution’s equity allocation. Unlike investments in alternatives or hedge funds, significant capital can be allocated to 130/30 strategies without modification to the asset/liability and/or risk budget framework. Also, 130/30 strategies are typically more transparent than hedge fund investments, more easily benchmarked by consultants and more acceptable to trustees and investment committee members. Lastly, 130/30 strategies benefit from an established regulatory framework and from a friendly custodial environment. Market regulators allow leverage of up to two times in Europe, the US and Canada allowing for extensions to reach up to 150/50. Prime brokers now also offer turnkey solutions to institutional accounts where short holdings “finance” the long extension and the word “leverage“ is never used Low volatility strategies give high returns as compared to high volatility strategy, as there is a high level of...
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...Department of Finance Portfolio Management - FINA 411/2/A, C Course Outline – Fall 2014 Instructor: Dr. Abraham I. Brodt Office: MB 12.215 Tel: 848-2424-2997 Fax: 848-4500 E-mail: ABrodt@jmsb.concordia.ca [SUBJECT: FINA 411 …….] Classes: FINA 411/2A Mondays 11:45 - 14:30 [MB1.437] FINA 411/2C Wednesdays 11:45 - 14:30 [MB5.255] Office Hours: Mondays and Wednesdays 15:30 -- 16:30 [Please e-mail me first to confirm] and by appointment COURSE DESCRIPTION: This course focuses on modern investment theory and its application to the management of entire portfolios. It will consist of lectures, discussions of cases and articles, and video presentations. Topics include: a) construction of optimal asset portfolios using techniques such as the single index model, b) extensions of the capital asset pricing model: theory and tests; example, the zero-beta model, c) criteria for evaluation of investment performance, d) active vs. passive portfolio management, e) investment strategies. The Formula Growth Investment Centre Lab will be used to demonstrate the use of specialized investment software. Computer exercises are assigned to illustrate the application of the theory. Prerequisites: FINA 380 or 385; FINA 390 or 395. LEARNING OBJECTIVES To understand the theory and practice of Portfolio Management for Individuals and Institutions, e.g. Endowments, Mutual Funds, Pension Plans, etc. To learn about the key Asset Pricing Models. REQUIRED: ...
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...investment opportunities often are, and how useful a flexible strategy can be. That's why they want to know all their options. Yet many current financial assessment tools fail to identify what investors can do to capitalize on future uncertain events. “Managerial flexibility to adapt and revise future decisions in order to capitalize on favorable future opportunities or to limit losses has proven vital to long-term corporate success in an uncertain and changing marketplace” (Brennan, M.J. and E.S. Schwartz 1985, p. 15). Utilizing a real options strategy allows businesses to capture the value of managerial flexibility in adapting decisions in response to unexpected market developments. When used as a conceptual tool, real options allow management to characterize and communicate the strategic value of an investment project (Bjerksund, P. and S. Ekern 1990). Traditional methods (e.g. net present value, discounted cash flow) fail to accurately capture the economic value of investments in an environment of widespread uncertainty and rapid change. Using real options theory, managers can more effectively target crucial opportunities to redeploy, delay, modify, or even abandon capital-intensive projects as events unfold. Perhaps the most current and relevant companies utilizing the real options theories are found in the energy industry, especially in the development of alternative fuels. Real Options Theory Justified in Alternative Energy Business Planning Today’s fiercely competitive...
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...INTEREST RATE RISK MANAGEMENT: DEVELOPMENTS IN INTEREST RATE TERM STRUCTURE MODELING FOR RISK MANAGEMENT AND VALUATION OF INTEREST-RATE-DEPENDENT CASH FLOWS Andrew Ang* and Michael Sherris† ABSTRACT This paper surveys the main concepts and techniques of recent developments in the modeling of the term structure of interest rates that are used in the risk management and valuation of interest-rate-dependent cash flows. These developments extend the concepts of immunization and matching to a stochastic interest rate environment. Such cash flows include the cash flows on assets such as bonds and mortgage-backed securities as well as those for annuity products, life insurance products with interest-rate-sensitive withdrawals, accrued liabilities for definedbenefit pension funds, and property and casualty liability cash flows. 1. INTRODUCTION The aim of this paper is to discuss recent developments in interest rate term structure modeling and the application of these models to the interest rate risk management and valuation of cash flows that are dependent on future interest rates. Traditional approaches to risk management and valuation are based on the concepts of immunization and matching of cash flows. These ideas were pioneered in the actuarial profession by the British actuary Frank Redington (1952). Interest rates have long been recognized as important to the risk management of insurance liabilities. Recent developments have incorporated a stochastic approach to modeling interest...
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...T H E J O U R N A L THEORY & PRACTICE FOR FUND MANAGERS O F FALL 2013 Volume 22 Number 3 RISKBASED PORTFOLIOS special section The Voices of Influence | iijournals.com Pursuing the Low Volatility Equity Anomaly: Strategic Allocation or Active Decision? ERIK KNUTZEN ERIK K NUTZEN is the chief investment officer at NEPC LLC in Cambridge, MA. eknutzen@nepc.com FALL 2013 JOI-KNUTZEN.indd 75 I n the past several years, asset managers have built investment strategies based on historical evidence that lower volatility stocks earn superior risk-adjusted returns. These approaches are being called low volatility, managed volatility, minimum variance, or similar names. They seek to exploit what has been identified in studies by academics and practitioners alike as an equity pricing anomaly. This anomaly joins previously identified persistent stock market inefficiencies associated with low price-tobook and smaller company shares. This article evaluates the low volatility anomaly, its potential causes, whether it is likely to persist, and the role, if any, of low volatility equity investing in long-term investment programs. Based on historical information, we conclude that the low volatility equity anomaly appears to exist and can be explained by certain behavioral and structural biases of investors. But its continued existence into the future is less certain. We also observe that even well-documented anomalies experience multi-year...
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... We are here to provide the experience, expertise, and professionalism that you are looking for , Our tutors are available 24/7 to assist you what you need, Click Here to submit your Order. ======================================================================================= Acquisition of Consolidated Rail Corp. by Benjamin C. Esty Airbus A3XX: Developing the World’s Largest Commercial Jet by Benjamin C. Esty American Chemical Corp.by William E. Fruhan, John P. Goldsberry American Home Products Corp.by David W. Mullins AQR’s Momentum Funds by Daniel B. Bergstresser, Lauren H. Cohen, Randolph B. Cohen, Christopher Malloy Arundel Partners: The Sequel Project by Timothy A. Luehrman AXA MONY by Andre F. Perold, Lucy White Beta Management Co. by Michael E. Edleson Butler Lumber Co. by Thomas R. Piper Cartwright Lumber Co.by Thomas R. Piper Citigroup 2007: Financial Reporting and Regulatory Capital by Edward J. Riedl, Suraj Srinivasan Clarkson Lumber Co. by Thomas R. Piper Cooper Industries, Inc. by Thomas R. Piper Cost of Capital at Ameritrade by Erik Stafford, Mark L. Mitchell Debt Policy at UST, Inc. by Mark L. Mitchell Dell’s Working Capital by Richard S. Ruback DermaCare: Zapping Zits Directly by Richard G. Hamermesh, Lauren Barley Diageo plc by George Chacko, Peter Tufano Dimensional Fund Advisers–2002 by Lauren H. Cohen Dividend Policy at FPL Group, Inc.by Benjamin C. Esty Dividend Policy at Linear Technology by Malcolm P. Baker, Alison Berkley Wagonfeld ...
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...Value investing is the strategy of purchasing an asset which is trading at a significant discount from its determined intrinsic value. It has long been regarded as a low risk method of providing outstanding investment returns (Klarman 2001). The investment strategy was described by Benjamin Graham and David Dodd in their book, Security Analysis (1940, p. 724). Over subsequent decades the investment approach has evolved utilizing varying fundamental methodologies but always maintaining the principle of investing when a discount to intrinsic value exists. Graham and Dodd (1940, p. 368) referred to this principle as the 'margin of safety'. This essay will explore the various methodologies, expand on the 'margin of safety' concept and discover the factors that have led to the success of the exponents of value investing. Bierig’s (2000) assessment of the Graham and Dodd approach indicated that a value investor doesn’t just follow share market fads but instead ‘searches for stocks selling for less than their intrinsic value’ and after purchasing, waits for market recognition that corrects this discrepancy. Athanassakos (2011b) has illustrated that a search for undervalued stocks is the initial process undertaken. He maintains that these stocks tend to be ‘avoided by large institutional investors’ and are not the ‘glamour stocks everyone wants to own’. Graham (1973, p. 211) describes two methods of searching for fundamentally undervalued stocks; companies selling at a low price to...
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