Accounting Books

As a former wireless professional and long time investor in wireless companies, I am frequently asked by fellow investors to recommend a good basic book on wireless. "Tapping into Wireless" fills the bill! The book is highly literate and well organized and covers wireless history, the wireless regulatory environment, the role of wireless service providers, the various warless technologies, and the evolution of wireless standards, and it does so without getting bogged down in technical detail. Better yet, it covers both wireless basics and investing in wireless companies. Not only does the book not favor a particular wireless technology, it cautions against getting emotionally involved with a particular technology. For those that are not intimately familiar with the industry, this is a great place to start.

"Tapping Into Wireless" is written for those who want to invest in the high-growth area of wireless telecommunications. Entrepreneurs entering the wireless industry and people interested in learning more about the world of wireless will also benefit by reading this book.

The book begins with a chapter about the history of wireless technology. Taulli and Mock say we can understand the how's and why's of the industry by learning a bit about the history of wireless. This will help us make better investment decisions today.

After telling us about the advent of the telegraph and the early adventures to lay transatlantic cable to allow continent-to-continent communication, Taulli and Mock discuss Gugielmo Marconi's development of the radio and the growth of amateur radio.

Surprisingly, nearly 100 years ago, many people imagined that wireless would become the dominant personal communication device. Because of the ability of waves travelling through air to reach any location and the expense of laying cable from every point to every point, it seemed logical that person-to-person communication would be radio-based, not cable-based.

Yet, only recently have wireless personal communications become a consumer reality. Taulli and Mock explain that the wireless future had to wait until electronic advances allowed compact and reliable wireless devices.

That didn't stop early promoters of wireless from starting companies promising a bright future and guaranteeing huge investment returns. Taulli and Mock discuss the wireless telegraph investment bubble of the early 1900's.

Taulli and Mock write: "Unscrupulous stock promoters exaggerated this theoretical advantage of radio way beyond reason at the time....it demonstrates what can happen when a revolutionary technology emerges in a capitalist society. Truly, there was a very real and promising industry in wireless telegraphy and telephony; it only needed more time to develop. The problems with stock scams at this time actually had more to do with corrupt financiers than with the radio industry...."

Taulli and Mock explain a successful investor in technology must distinguish hype from reality. This doesn't imply the need to have an engineer's level of understanding of wireless technology.

Taulli and Mock write: "...knowledge of wireless technology may not be a significant advantage for the investor. The technology buffs who have the inside scoop on how all this stuff works often make no better investment choices than those who are clueless in this area."

The authors explain that too many other factors affect wireless investments, including government regulation, politics, communication standards adoptions, buy-in from industry leaders, intellectual property management, and consumer taste.

For example, Taulli and Mock tell us that, as radio grew in America, the U.S. government felt a foreign corporation shouldn't control the airwaves, so the U.S. government put pressure on Marconi to sell its U.S. radio interests to an American-based company. Overnight, G.E. and RCA became the dominant radio companies in America. By this example, the authors alert wireless investors to the politics and regulations affecting their investments.

We also learn about the formation of the Federal Communications Commission to manage the frequencies available to radio. Because unregulated use of the airwaves led to overlapping signals as multiple users tried to communicate on the same frequency, the government decided it should regulate the spectrum of available frequencies. The FCC decided it would own the air frequencies and auction off the rights to broadcast on various parts of the electromagnetic spectrum in various geographical regions.

Taulli and Mock tell us that, in 2001, the FCC earned nearly $17 billion from spectrum auctions. Further, the authors say the U.S. government will earn even more through such auctions in the future. (I've heard of entrepreneurs and investors buying auctioned airwave rights and reselling them for a huge profit. Some people have literally become very rich by legally buying and reselling thin air!)

In a chapter about investing in wireless network operators (i.e., the companies that provide access to wireless communication), Taulli and Mock tell us that spectrum licenses are an important investment metric (POPs).

Taulli and Mock write: "Licensed POP's include the population covered by spectrum licenses. If a service provider has a license to 10 MHz of spectrum in Atlanta, Georgia, then the population of this area is included in its figure for licensed POPs... . The owning of rights to spectrum is basically wireless real estate... ."

Taulli and Mock cover many other important investment measurements when evaluating wireless network providers, such as revenue per user, customer turnover, and the average cost to add a new customer.

Wireless network providers aren't the only way to profit by investing in wireless. Other chapters of "Tapping Into Wireless" discuss wireless IPO's, investing in wireless equipment and component manufacturers, mutual funds that invest in telecommunications, ways to invest in foreign wireless companies, and knowing when to sell a telecommunications stock. Angel investors will find the chapter about investing in smaller, private, wireless companies valuable.

Entrepreneurs will especially enjoy the chapter about wireless enterprise solutions. Basically, "enterprise solutions" involve helping companies use technology to become more efficient or to do things in new ways. Such enterprise-solution companies usually don't provide wireless network access nor manufacture components. Rather, they usually develop database systems and computer code allowing a company to use wireless devices in a productive way.

Taulli and Mock point out that wireless access to the Internet will create huge opportunities for entrepreneurs and those who provide wireless enterprise solutions.

Taulli and Mock write: "The combination of wireless capabilities with the resources available on the Internet has every entrepreneur chomping at the bit to develop something hundreds of millions of cellular phone owners would pay to have....The merging of the Internet and wireless communications has tremendous potential to change the lives and cultures of people around the globe... Not only do we have a global network that stores vast amounts of information at various nodes, we also have the capability to access one of those nodes from virtually anywhere on the planet."

I used this book as the centerpiece of a four-week unit in my Consumer Math class and found it to be highly effective. My students were much more interested than I thought they would be because "taxes" sounds so boring. We worked through the chapters together and it spurred a lot of discussion. The book is written in a very direct, easy-to-follow format and includes lots of practical examples. The writing has a conversational, edgy quality to it that connects with the kids.

Once we finished the book, my students started bringing in their own W-2s and were doing their own taxes in class. Most of them were shocked to learn that they had to file a tax return, even though they were under 18, and that they could get money back if they did so.

The funny thing is, I learned a lot about the subject too. I understood the basics of filling out tax forms, but never gave much thought to the "whys." This book explains the reasons behind the rules. I actually had other teachers ask to borrow it "for their own children."

In short, I found the book to be easy to read and use while providing valuable information for ANYONE who wants to learn some basics about income tax.

I used this book as the centerpiece of a four-week unit in my Consumer Math class and found it to be highly effective. My students were much more interested than I thought they would be because "taxes" sounds so boring. We worked through the chapters together and it spurred a lot of discussion. The book is written in a very direct, easy-to-follow format and includes lots of practical examples. The writing has a conversational, edgy quality to it that connects with the kids.

Onec we finished the book, my students started bringing in their own W-2s and were doing their own taxes in class. Most of them were shocked to learn that they had to file a tax return, even though they were under 18, and that they could get money back if they did so.

The funny thing is, I learned a lot about the subject too. I understood the basics of filling out tax forms, but never gave much thought to the "whys." This book explains the reasons behind the rules. I actually had other teachers ask to borrow it "for their own children."

In short, I found the book to be easy to read and use while providing valuable information for ANYONE who wants to learn some basics about income tax.

GREAT BOOK. Go out of my way to purchase every year.

This is the first time in my life that I am doing tax stuff, It's a great book for me as the first time filer specially someone that is totaly new to the society. I didn't need to read the whole book as my filing is pretty simple this year, but I'll keep the book for coming years.

A great source of useful tips and advise from those who have made it to the top. No wasted time or space here. If you ask the question, "What can I do with..." look no further, the answer is in Tips from the Top. Edie cuts through the confusion most of us feel concerning money issues and gives advice easy to understand and invaluable to any wealth-wise person. I keep it on my dresser for quick reference and read a few tips for my subconscious before retiring. Open the book to any page and start reading to improve your money-consciousness and improve your wealth.

First disclosures: I have only read a few pages so far and I am a contributor to the book.

That said, I feel that Edie Milligan did a wonderful job introducing readers to the world and work of 110 practicing financial advisors accross America. For example, she says; "When you read a traditional personal finance book written by one author you need to sift through the whole chapter to find one or two points that you can use....This book gathers all those punch lines (you know the important stuff) into one place. There's no filler here to make the book look like it says more than it does. Just tip after tip of great advice..." What more could you ask for in obtaining advice but to get it now from the world's top money minds? I enjoyed reading the tips and learning new ideas I can use in the here and now to live an enhanced quality of life. If that's important to you, this book will not only get you thinking, it will get you moving!

Stacey Tisdale and Paula Kennedy have really made me aware of "The True Cost of Happiness" in a way I did not expect. I was startled to learn that the problem I had with finances had very little to do with money! It's really about attitude, self-esteem, and accepting life on life's terms. I found it a challenging, enlightening, and encouraging read. It is a mirror that anyone, if they are brave enough to be honest, can see how they got to be in their present relationship with money. I discovered that in my early life, money had been using me instead of the other way around. This book caused to me think about how my personality controlled the way I related to money, and money had nothing to do with that. I found that, in reality, the book was reading me very well. However, it let me know that anyone, including me, can change no matter where we are today. This book requires rigorous honesty to be effective enough to cultivate this positive change in how we view money, which is, after all, just a medium of exchange. I think students at a very young age should be made aware of this book so that they can become exposed to the fact that it is their attitude about money that will determine whether they live richly, or poorly. It is liberating to know that a change of thinking can create a better way of living by putting money in its proper place.

Richard Fewell

Tisdale delivers a panaramic view of one's finacial landscape and offers rock-solid advice to make that landscape a more hospitable -- and less scary -- place. Unlike other personal finance guidance we routinely encounter, she offers common-sense and doable steps without being preachy and judgemental. Most important, Tisdale respects her readers. This book casts light on "wholististic" financial planning, and the many bits of advice from experts in a host of fields help make it a must for anybody who feels they're losing control of their finances -- and for those who are looking for further areas of improvement. Most highly recommended.

This book gives you the tools to perform proper risk analysis and gives excellent guidance on trade sizing and risk analysis with a focus on asset allocation and portfolio management.

Gerald Ashley's book is a trenchant analysis of many issues associated with the stock market. Calling on his own extensive experience and utilizing a variety of keen arguments, he clearly explains the failure of technical analysis, the appeal of behavioral finance, and a host of other matters. A very satisfying read.

I am a college student reading this book to supplement my understanding of intangible assets. I tried to read "Goodwill in Accounting" by Hugh Hughes and...that book will put you into a coma. This book is very concise, doesn't use a lot of needless jargon, and has only about 97 pages worth of actual reading. I recommend it!

Just goes to show you how good Amazon's recomendation engine is - I wouldn't have gone looking for this title, but I am very glad I have it now. This slim volume (only 120 pages, including the notes) goes a long way towards illuminating the importance of "intangible" items such as intellectual capital, research and development, brand names, etc., are to the economic growth and wealth of our society. As the preface to chapter one, Blair and Wallman quote Attorney Lloyd Cutler (commenting on the proposed breakup of Microsoft), "Given that no company can establish a monopoly on brains, how do you keep the people that make it work? There are no tangible assets to divest. There is intellectual property and that's about it - and a building." Exactly! As the events of September 11th so horrily illustrated, you could burn the plant to the ground, but as long as you have a repository of your critical business information, you can resume business anywhere. How we view and deal with our intangible assets may be the one thing that determines whether a company survives or not. I think all managers everywhere should read this book.

This is a great overview of Activity Based Management and how to use it to improve corporate profitability.

I've read a lot of books on ABM but this is the first one that I truly understand. It is loaded with practical ideas, forms and examples.

I paid Amazon about $250.00 for this book six months ago and it is worth every penny. I am not a CPA so I can only read 30 - 40 pages at a time and then my head starts swimming.

However, I am a senior manager at a company whose value is almost 100% dependant on our intellectual property and intangible assets and this book has been my guide in setting policy. I take it with me on every plane flight (about every two weeks) and re-read a section.

Gordon V. Smith,and Russell L. Parr present in detail the theory and methodology associated with the identification, valuation, and economic analysis of intangible assets. The book provides the necessary skills, judgement, and knowledge to truly understand the entire process of intangible valuation.

Hundreds of business books, many from famous authors, seek to explain strategic planning and management. This book from George Norton provides a practical approach that can easily be used by both for-profit and non-profit organizations. It would also be a very useful tool for consultants.

What makes Mr. Norton's approach unique is the step-by-step instructions he provides, involving key leaders and stakeholders in the planning and assessment process. Most impressive is the way the author explains straightforward methods for valuation and financial analysis, with guidelines on how to apply the results to future plans.

This book is highly recommended for organizational leaders, especially those who desire a practical approach to strategic planning.

Our organization -- all the 12 top guys -- got copies and spent a couple days a month for 5 months going through all the steps in this book. Wow -- we now all agree on what we're good at, how to consistently increase cash flow, and -- most importantly -- what to NOT spend time on. Most of our time is now spent cheerleading and stressing our beliefs, letting the guys and gals on the line make decisions which agree with these.

Definitely not just for the public, professional manager. This stuff really works for the small company too!