Book briefs

  • Business
  • Monday, 10 Feb 2003

  • PAYING for Performance by K. Rajkumar (Pelanduk) discusses factors that contribute to foundations of current wages and salary practices, an ideal system of salary and benefits proportionate to labour set up, different types of benefits due to employees and management guide in distribution, job evaluation and guidelines for appraisal.  

    Rajkumar was formerly with Hay Associates. He was also with the National Productivity Corp and University of Malaya administration, and he specialises in compensation, training and development. 

  • THE Future of Corporate Reporting by Samuel DiPiazza Jr and Robert Eccles (John Wiley) highlights the best practices for global financial reporting, explaining the concept of “performance auditing,” which focuses on the real performance of the business.  

    Eccles and Masterson also present new approaches to reforming financial reporting, and outline a 21st-century model of accounting that will improve markets and benefit shareholders.  

    The authors present a plan that supplements the current model, one in which executives, accountants, analysts, investors, regulators, and other stakeholders can truly embrace the spirit of transparency.  

  • IN Conquer the Crash, (John Wiley) Robert Prechter explains why he thinks the boom times are behind us.  

    Based on his interpretation of the Elliott Wave principle (an idea premised on the notion that mass investor psychology is what really drives markets), Prechter believes that the US economy is about to enter into a deflationary depression that few investors are prepared to deal with.  

    In making his case, Prechter assembles an impressive array of data that in essence suggests that the bill for the last 10 years of market excess is about to come due.  

    The second half of the book shows how to avoid becoming “a zombie-eyed victim of the depression” and offers advice on protecting one's assets in a deflationary environment (cash is king). 

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