Magazine article The CPA Journal

Book Review: The Complete Book of Raising Capital

Magazine article The CPA Journal

Book Review: The Complete Book of Raising Capital

Article excerpt

BOOK REVIEW: THE COMPLETE BOOK OF RAISING CAPITAL

By Lawrence W. Tuller, McGraw Hill, Inc. 446 pages, $59.95

Review by Alexander A.H. Bohtling, CPA, retired from Deloitte & Touche

It is a matter of common knowledge that most organizations, be they large, medium-sized, or small, require additional capital, sometimes on a temporary basis, and on other occasions, on a long-term or permanent basis.

The Complete Book of Raising Capital is written by Lawrence W. Tuller, who for 13 years has been president of his own management consulting firm, and, has held financial and management positions with several leading industrial corporations.

The book is written for organizations of all sizes and for those with financial troubles. The circumstances under which additional capital is needed are well explained, as are the options available for raising the capital. Specific examples for the need of additional capital and the ways of obtaining it are presented throughout the book. Sources including the names and addresses, are printed in this book.

The book consists of five parts: debt capital; special purpose capital; raising capital when over-leveraged; and tax strategies. These are followed by a series of very useful appendixes.

As for the source of obtaining capital, the banking industry and its methods are explained, as are the advisable approaches by prospective borrowers including the method of selecting a suitable bank. Among numerous other things, to quote the author, "Banks love to see audited financial statements with 'clean opinions. …

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