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Practical business forecasting
BOOK
105
REVIEWS
REFERENCES Aldwinckle, R. (1987). ‘Off-balance sheet-the legal view’, Accountancy, June, pp. 19-20. Brindle, I. (1986). ‘Off-balance sheet financing’. Chapter in Financial Reporting 198.5/86, ICAEW, pp. 73-91. Brindle, I. (1987). ‘Off-balance sheet financing’. Chapter in Financial Reporting 1986/87, ICAEW, pp. 49-62. Tweedie, D. & Kellas, J. (1987). ‘Off-balance sheet financing’, Accountancy, April, pp. 9195. Tweedie, D. & Kellas, J. (1988). ‘Setting the accountants’ record straight’, Accountancy, January, pp. 19-20. Wild, K. (1987). ‘Off-balance sheet finance-why all the fuss?’ Accountancy, June, pp. 2(t 21. Wilkins, T. & Zimmer, 1. (1983a). ‘The effects of alternative methods of accounting for leases-an experimental study’, Abacus, June, pp. 6475. Wilkins, T. & Zimmer, I. (1983b). ‘The effect of leasing and different methods of accounting for leases on credit evaluations’, Accounting Reoiew, October, pp. 749-764. Wilkins, T. & Zimmer, I. (1985). ‘The reporting of investments in associated companies and credit evaluations: An experimental study’,]ournal ofBusiness Finance and AmuntinCq, Summer, pp. 207-220.
J. A. Saunders, J. A. Sharp & S. F. Witt PRACTICAL
BUSINESS FORECASTING
Gower (Aldershot,
1987). 340 pp. A29.50 (hbk)
Forecasting is perhaps one of the few areas where the academic faced with a book with ‘practical’ in the title need not blench. The authors have aimed at the nonspecialist manager, who uses forecasting, but their target could equally well have been undergraduates or MBA students, who need an introduction refreshingly free of the mathematical and statistical detail that so often obscures the essence of the subject. This approach is made possible by assuming that readers have access to software for the more common forecasting procedures, so that the emphasis is not on the mechanics of calculation, but on the underlying assumptions and interpretation of the results. As well as a coverage of the standard forecasting techniques-time series models, regression and trend analysis-there are chapters on data preparation. ratio models, subjective estimation and new product forecasting. Each section is illustrated with plausible real-world examples. Throughout, the major concern is choosing the method appropriate to the forecasting situation, given the sensible proviso that ‘a small proportion of the available techniques is adequate to deal with the great majority of the applications’. The writing
is clear and, considering
the subject
matter,
extremely
readable-
who could not warm to a book on forecasting that describes its subject as ‘driving a car blindfolded and following directions given by a person who is looking out of the back window’! LYDIA University
THOMSON of Aberdeen
105
REVIEWS
REFERENCES Aldwinckle, R. (1987). ‘Off-balance sheet-the legal view’, Accountancy, June, pp. 19-20. Brindle, I. (1986). ‘Off-balance sheet financing’. Chapter in Financial Reporting 198.5/86, ICAEW, pp. 73-91. Brindle, I. (1987). ‘Off-balance sheet financing’. Chapter in Financial Reporting 1986/87, ICAEW, pp. 49-62. Tweedie, D. & Kellas, J. (1987). ‘Off-balance sheet financing’, Accountancy, April, pp. 9195. Tweedie, D. & Kellas, J. (1988). ‘Setting the accountants’ record straight’, Accountancy, January, pp. 19-20. Wild, K. (1987). ‘Off-balance sheet finance-why all the fuss?’ Accountancy, June, pp. 2(t 21. Wilkins, T. & Zimmer, 1. (1983a). ‘The effects of alternative methods of accounting for leases-an experimental study’, Abacus, June, pp. 6475. Wilkins, T. & Zimmer, I. (1983b). ‘The effect of leasing and different methods of accounting for leases on credit evaluations’, Accounting Reoiew, October, pp. 749-764. Wilkins, T. & Zimmer, I. (1985). ‘The reporting of investments in associated companies and credit evaluations: An experimental study’,]ournal ofBusiness Finance and AmuntinCq, Summer, pp. 207-220.
J. A. Saunders, J. A. Sharp & S. F. Witt PRACTICAL
BUSINESS FORECASTING
Gower (Aldershot,
1987). 340 pp. A29.50 (hbk)
Forecasting is perhaps one of the few areas where the academic faced with a book with ‘practical’ in the title need not blench. The authors have aimed at the nonspecialist manager, who uses forecasting, but their target could equally well have been undergraduates or MBA students, who need an introduction refreshingly free of the mathematical and statistical detail that so often obscures the essence of the subject. This approach is made possible by assuming that readers have access to software for the more common forecasting procedures, so that the emphasis is not on the mechanics of calculation, but on the underlying assumptions and interpretation of the results. As well as a coverage of the standard forecasting techniques-time series models, regression and trend analysis-there are chapters on data preparation. ratio models, subjective estimation and new product forecasting. Each section is illustrated with plausible real-world examples. Throughout, the major concern is choosing the method appropriate to the forecasting situation, given the sensible proviso that ‘a small proportion of the available techniques is adequate to deal with the great majority of the applications’. The writing
is clear and, considering
the subject
matter,
extremely
readable-
who could not warm to a book on forecasting that describes its subject as ‘driving a car blindfolded and following directions given by a person who is looking out of the back window’! LYDIA University
THOMSON of Aberdeen