Steve Toms

Chair in Accounting
Accounting and Finance Division

Email:
J.S.Toms@leeds.ac.uk
Telephone:
+ 44(0) 113 34 34456
Categories:
Academic, Accounting and Finance
Location:
2.09
Profile

Qualifications

  • BA (Hons) Modern History, Trinity College, Oxford, 1982 (MA, 1985).
  • Chartered Accountant, 1986
  • Post Graduate Certificate in Education, Leicester University, 1987.
  • Master of Business Administration, CNAA, 1991.
  • Ph.D, University of Nottingham, March 1996,

Experience

Professor Toms has extensive experience in both the professional and academic fields and joins us from the University of York Management School, of which he was the Head. Professor Toms has 15 years of senior  management , at Nottingham University as head of the undergraduate programme, chair of teaching committee and research director, before becoming Head of York Management School in 2004.

Research

Professor Toms’s research interests cover the role of accounting, accountability and corporate governance in the development of organisations, particularly from a historical perspective. He is interested in perspectives that integrate financial models with economic and organisational theory and corporate strategy. Specific applications range from business history, in particular cotton and other textiles trades to capital markets and social and environmental accounting. He was editor of the journal Business History, 2007-2013.

He would be very interested to hear from anyone wishing to pursue collaborative research in any of these general or specific fields. He is available to supervise doctoral students in most areas of accounting and on the following specific topics:

  • Business and accounting history
  • The development of international financial markets, institutions and accounting
  • Social and environmental accounting
  • Corporate governance 

You can access Professor Toms's research papers on the Social Science Research Network (SSRN)

Publications

Journals

  1. Amini, A. and Toms, S. (2017, forthcoming) Accessing capital markets: Aristocrats and new share issues in the British bicycle boom of the 1890s, Business History.
  2. Toms, S. and Shepherd, A (2017, forthcoming), ‘Accounting and social conflict: Profit and regulated working time in the British Industrial Revolution’, Critical Perspectives on Accounting.
  3. Abdelrehim, N. and Toms, S (2017). ‘The obsolescing bargain model and oil: the Anglo-Iranian Oil Company 1933–1951’, Business History. 59 (4), 554-571.
  4. Al-Shaer, H., Salama, A. and Toms, S (2017) ‘Audit Committees and Financial Reporting Quality: Evidence from UK Environmental Accounting Disclosures,’ Journal of Applied Accounting Research, 18(1): 2-21.
  5. D. Higgins, S. Toms, M. Uddin, (2016) Vertical monopoly power, profit and risk: The British beer industry, c.1970-2004, Business History, 58(5), pp.667-693.
  6. Toms, S. (2016). Double entry and the rise of capitalism: keeping a sense of proportion? Accounting History Review, 26(1), 25-31.
  7. Toms, S., & Zhang, Q. (2016). Marks & Spencer and the Decline of the British Textile Industry, 1950-2000. Business History Review, 90(1), 3-30.
  8. S. Toms, N. Wilson and M. Wright (2015), The Evolution of Private Equity: Corporate Restructuring in the UK, c.1945-2010, Business History, 57 (7), pp.736-768.
  9. N. Abdelrehim, J. Maltby and S. Toms, (2015), 'Narrative Reporting and Crises: British Petroleum and Shell 1950-1958', Accounting History, Vol.20 (2), pp.138-157.
  10. S. Toms and R. Fleischman, (2015), 'Accounting Fundamentals and Accounting Change: Boulton & Watt and the Springfield Armory', Accounting, Organizations and Society. Vol.41, pp.1-20.
  11. D. Higgins and S. Toms (2015) Ownership, Financial Strategy and Performance: The Lancashire Cotton Textile Industry, 1918-1938, Business History. Vol.57, 1/2, pp.97-121.
  12. S. Toms (2014), ‘Accounting based risk measurement and the capital asset pricing model: An empirical comparison. Australian Accounting Review, 24(2), pp.127-133.
  13. Allan D. Grody, Kiran J. Fernandes, Peter J. Hughes and Steven Toms. (2013), 'Basel Committee's fundamental review of the trading book: A commentary', Journal of Risk Management in Financial Institutions, Vol.6(1), p.6.
  14. S. Toms (2012), ‘Producer co-operatives and economic efficiency: Evidence from the nineteenth century cotton textile industry’, Business History, 54(6), pp.833-854.
  15. S Toms (2012), ‘Accounting based risk measurement: An alternative to CAPM derived discount factors’, Australian Accounting Review,22(4), 398-406.
  16. N. Abdelrehim, J. Maltby and S. Toms (2012) Accounting for power and control: The Anglo-Iranian oil nationalisation of 1951, Critical Perspectives on Accounting, 23, 7-8, pp.595-607.
  17. N. Abdelrehim, J. Maltby and S. Toms (2012),  Corporate Social Responsibility and Corporate Control: The Anglo-Iranian Oil Company, 1933–1951 Enterprise and Society, 12(4), pp. 824-862.
  18. D. Higgins and S. Toms (2011), Explaining corporate success: The structure and performance of British firms, 1950-1984, Business History, 53(1), pp.85-118.
  19. S. Toms (with M Beck and D Asenova), (2011), ‘Accounting, regulation and profitability: The case of PFI hospital refinancing’, Critical Perspectives on Accounting. Vol.22 (7), pp.668-681.
  20. S Toms, K Anderson, A Salama, (2010) ‘Does Community and Environmental Responsibility Affect Firm Risk? Evidence from UK Panel Data 1994-2006’, Business Ethics: A European Review.Vol.20 (2), pp.192-204.
  21. D.M. Higgins and S.Toms, (2010), 'Capital Ownership, Capital Structure and Capital Markets: Financial Constraints and the Decline of the Lancashire Cotton Textile Industry 1880-1965', Manchester Region History Review, 21, pp.1-24.
  22. A Grody, P. Hughes, and S. Toms, (2010) ‘Risk accounting – a next generation risk management system for financial institutions,’ Journal of Financial Transformation, 29, pp.43-56.
  23. S Toms, and C. Carter (2010), ‘The contours of critical accounting’, Critical Perspectives on Accounting, 21 (3), pp.171-182.
  24. S Toms, (2010) Value, profit and risk: accounting and the resource-based view of the firm, Accounting, Auditing and Accountability Journal, 23(5), pp: 647-670.
  25. S Toms and J.F. Wilson (2010), ‘In defence of Business History: A reply to Taylor, Bell and Cooke’, Management and Organizational History, 5(1) pp. 109-120.
  26. S. Toms (2010) ‘Calculating profit; a Historical Perspective on the Development of Capitalism’, Accounting, Organizations and Society, 35(2), 205-221.
  27. S. Toms (2010) ‘The labour theory of value, risk and the rate of profit’ Critical Perspectives in Accounting, 21(1), pp. 96-103.
  28. S. Toms (2010) ‘The social risk rent thesis: A reply to Harney’ Critical Perspectives in Accounting, 21(1), pp.90-95
  29. S. Toms and C. Bowman (2010) Accounting for competitive advantage: the resource-based view of the firm and the labour theory of value, Critical Perspectives in Accounting, 21(3), pp.183-194.
  30. S. Toms (with J. Hasseldine and H. Massoud) (2009) ‘Asymmetric Response: Explaining Corporate Social Disclosure by Multi-National Firms in Environmentally Sensitive Industries’, Journal of Risk and Governance, Vol 1(2), pp.157-174
  31. Fitzsimmons, D.A., Beck, M., Toms, S., Brown, S., Mannion, R. and Lunt, N. (2008) UpLIFTIng PFI: does LIFT improve public-private procurement? The Systemist, 30 (2). pp. 117-135.
  32. S. Toms and M. Ajlouni, (2009) ‘Signalling Characteristics and Information Content of Directors' Dealings on the London Stock Exchange’, Journal of Risk and Governance, Vol. 1 (1), pp.3-26.
  33. S. Toms (2008), ‘Immeasurability’: A critique of Hardt and Negri, Ephemera: Theory & Politics in Organization, Volume 8(4): 433-446
  34. J. Wilson, S. Toms, J. Press, A. Popp, T. da Silva Lopes (2008), ‘Tribute to Charles Harvey’, Business History, Volume 50 Issue 1, pp.1-3.
  35. J. Wilson, S. Toms,  (2008), Fifty years of Business History, Business History, Vol.50(2), pp.125-126.
  36. S. Toms and M. Beck (2007), The Limitations of Economic Counter-Factuals: The Case of the Lancashire Textile Industry, Management and Organizational History, 2(4), pp.315-330.
  37. S. Toms and J.F. Wilson (2007), ‘Scale, Scope and Accountability: A Response to Lloyd-Jones and Lewis’ Business History, vol.49, 1, pp.106-111.
  38. M. Rowlinson, J.S. Toms and J.F. Wilson (2007) Competing Perspectives on the ‘Managerial Revolution’: From ‘managerialist’ to ‘anti-managerialist’, Business History, Vol. 49,4, pp.464-482.
  39. S. Toms (2006) 'Accounting For Entrepreneurship: A Knowledge Based View of the Firm', Critical Perspectives in Accounting, Vol.17 (2/3), pp.336-357.
  40. S. Toms and I. Filatotchev (2006), ‘Corporate Governance and Financial Constraints on Strategic Turnarounds’, Journal of Management Studies Vol.43 (3), pp. 407-433.
  41. S. Toms (2006), ‘Asset Pricing Models, the Labour Theory of Value and their Implications for Accounting’ Critical Perspectives in Accounting, Vol.17, pp.947-965.
  42. I Filatotchev, S. Toms, = M. Wright (2006), ‘The firm’s strategic dynamics and the CG life cycle’, International Journal of Managerial Finance, Vol.2, No.4, pp.256-279.
  43. D. Higgins and J.S. Toms (2006), Financial Institutions and Corporate Strategy: David Alliance and The Transformation of British textiles, c.1950-c.1990, Business History, vol.48 (4), pp.453-478.
  44. Popp, S. Toms and J.F. Wilson (2006) ‘Industrial districts as organisational environments: Resources, networks and structures’, Management and Organisational History, Vol.1(4), pp.349-370.
  45. M. Rowlinson, S. Toms and J.F. Wilson (2005) 'Legitimacy and the capitalist corporation: cross-cutting perspectives on ownership and control,' Critical Perspectives in Accounting, Volume 17, Issue 5, July 2006, pp. 681-702.
  46. S. Toms (2005), ‘Financial Control, Managerial Control and Accountability: Evidence from the British Cotton Industry, 1700-2000’, Accounting Organizations and Society, Vol.30, pp.627-653.
  47. Hasseldine, J. Salama, A. and Toms, S. (2005) ‘Quantity versus Quality: The Impact of Environmental Disclosures on the reputations of UK plcs’, British Accounting Review, Volume 37, Issue 2 , June 2005, Pages 231-248.
  48. S. Toms and M. Wright (2005), ‘Corporate Governance, Strategy and Refocusing: US and British Comparatives, 1950-2000', Business History, Vol.47(2); pp.267-295.
  49. R.H. Berry, B. Reber and S. Toms< (2005) 'IPO Pricing: A Neural Network Approach' International Journal of Intelligent Systems in Accounting, Finance and Management, Vol.13, pp.41-59.
  50. R.H. Berry, B. Reber and S. Toms (2005) 'Firm resources and quality signalling: evidence from UK initial public offerings' Applied Financial Economics, Vol.15, pp.575-586.
  51. J.S. Toms and I Filatotchev (2004) Corporate Governance, Business Strategy and the Dynamics of Networks: A Theoretical Model and Application to the British Cotton Industry, 1830-1980, Organization Studies, Vol 25, 4, pp.629-651.
  52. I Filatotchev and J.S.Toms (2003), 'Corporate Governance, Strategy and Survival in a Declining Industry: A Study of Lancashire Textile Companies', Journal of Management Studies, Vol.40, no.4, pp. 895-920.
  53. J.S. Toms and J.F. Wilson (2003) 'Scale, Scope and Accountability: Towards A New Paradigm of British Business History', Business History. Vol.45, No.4, pp.1-23.
  54. (D.M Higgins) and J.S. Toms (2003) Financial Distress, Corporate Borrowing and Industrial Decline: The Lancashire Cotton Textile Industry, 1918-1938. Accounting Business and Financial History. Vol. 13(2), pp.207-232.
  55. S. Toms (2002), ‘Review of the Periodical Literature, 2000’, Business History.Vol.44, No.2, pp.1-18.
  56. S. Toms (2002) 'Firm Resources, Quality Signals and the Determinants of Corporate Environmental Reputation: Some UK Evidence', British Accounting Review. Vol.34, pp.257-282.
  57. S. Toms and D.M Wright (2002), 'Corporate governance, strategy and structure in British business history, 1950-2000', Business History. Vol.44, No.3, pp.91-124.
  58. S. Toms (2002), `The Rise of Modern Accounting and the Fall of the Public Company: the Lancashire Cotton Mills, 1870-1914', Accounting Organizations and Society, Vol.27, No. 1/2, pp.61-84.
  59. S. Toms, (2001), 'Information Content of Earnings Announcements in an Unregulated Market: The Co-operative Cotton Mills of Lancashire, 1880-1900', Accounting and Business Research. Vol.31, No.3, pp.175-190.
  60. D.M. Higgins and Toms, S (2001), 'Capital Ownership, Capital Structure and Capital Markets: Financial Constraints and the Decline of the Lancashire Cotton Textile Industry 1880-1965', Journal of Industrial History, Vol.4, pp.48-64
  61. S.J. Procter and S. Toms (2000), ‘Industrial Relations and Technical Change: Profits, Wages and Costs in the Lancashire Cotton Industry, 1880-1914, Journal of Industrial History, Vol. 3(1), pp. 54-72.
  62. D.M. Higgins and S. Toms (2000), ‘Public Subsidy and Private Divestment: The Lancashire Cotton Textile Industry,’ Business History, Vol. 42(1), pp.59-84.
  63. S. Toms (1998), ‘The Supply of and Demand for Accounting Information in an Unregulated Market: Examples from the Lancashire Cotton Mills’, Accounting Organizations and Society Vol. 23, No. 2; pp.217-238.
  64. S. Toms (1998), `Windows of Opportunity in the Textile Industry: The Business Strategies of Lancashire Entrepreneurs 1880-1914’, Business History, Vol. 40(1); pp.1-25.
  65. S. Toms (1998), ‘Growth, Profits and Technological Choice: The Case of the Lancashire Cotton Textile Industry', Journal of Industrial History, Vol.1 (1), pp.35-55.
  66. S. Toms (1997), ‘The Finance and Growth of the Lancashire Cotton Textile Industry, 1870-1914’, Business and Economic History, Vol. 26 (2); pp. 323-7.
  67. D.M. Higgins and S. Toms (1997), `Firm Structure and Financial Performance: the Lancashire textile Industry, c. 1884-1960', Accounting Business and Financial History, Vol. 7, No.2; pp.195-232.
  68. S. Toms (1996), ‘Integration, Innovation and the Progress of a Pennine Cotton enterprise: Fielden Bros. of Todmorden, 1889-1914’, Textile History, Vol. 27 (1); pp.77-100. 
  69. S. Toms (1994), `Financial constraints on economic growth: profits, capital accumulation and the development of the Lancashire cotton-spinning industry, 1885-1914', Accounting, Business and Financial History, 4 (3); 363-383.
  70. S. Toms (1993), ‘The Profitability of the First Lancashire Merger: the case of Horrocks Crewdson, 1887-1905’, Textile History 24(2); 129-146.

Books and Reports

  1. Wilson, J. Toms, S, De Jong, A. and Buchnea, E. [eds.] (2017). The Routledge Companion to Business History, Abingdon: Routledge.
  2. Higgins, D. and Toms, S. (2017), British Cotton Textiles: Maturity and Decline, Abingdon: Routledge.
  3. Matthias Beck, Steven Toms, Russell Mannion, Sally Brown, Debbie Fitzsimmons, Neil Lunt (2010), The Role and Effectiveness of Public – Private Partnerships (NHS LIFT) in the Development of Enhanced Primary Care Premises and Services, NIHR (SDO), London HMSO.
  4. J.S. Toms (2000), ‘Environmental Management, Environmental Accounting and Financial Performance,’ Chartered Institute of Management Accountants Research Monograph. London: CIMA Publishing.
  5. J.S. Toms (1999), Financial Performance Differentials in ‘Ethically’ Managed Companies, Chartered Institute of Management Accountants.

Book Chapters

  1. Higgins, D. and Toms, S. (2017), Introduction – Lancashire cotton: A brief historical overview, in Higgins, D. and Toms, S., British Cotton Textiles: Maturity and Decline, Abingdon: Taylor and Francis.
  2. Higgins, D. and Toms, S. (2017), Epilogue – Survival strategies in textiles, in Higgins, D. and Toms, S., British Cotton Textiles: Maturity and Decline, Abingdon: Taylor and Francis.
  3. Wilson, J. Toms, S, De Jong, A. and Buchnea, E. (2017). ‘Introduction’, in Wilson, J. Toms, S, De Jong, A. and Buchnea, E. [eds.] The Routledge Companion to Business History, Abingdon: Routledge.
  4. Wilson, J. and Toms, S. (2017). ‘Business history: Agendas, historiography and debates’, in Wilson, J. Toms, S, De Jong, A. and Buchnea, E. [eds.] The Routledge Companion to Business History, Abingdon: Routledge.
  5. Toms, S. (2017). ‘Fraud and financial scandals’, in Wilson, J. Toms, S, De Jong, A. and Buchnea, E. [eds.] The Routledge Companion to Business History, Abingdon: Routledge.
  6. Toms, S., Uddin, M., & Higgins, D. (2016). ‘Vertical monopoly power, profit and risk: The British beer industry, c. 1970-c. 2004’, in I. Cabras (Ed.), The History of the Beer and Brewing Industry. Abingdon: Taylor and Francis.
  7. Toms, S. (2016), ‘Publishing historical articles in management journals and in business history journals’, in Clark. T., Wright, M. & Ketchen, D.J. How to get published in the best management journals, Cheltenham: Edward Elgar.
  8. Steven Toms and John F. Wilson  (2012), ‘Revisiting Chandler on the theory of the firm’, in Dietrich, M and Krafft, J (eds). Handbook On The Economics And Theory of The Firm, Edward Elgar: Cheltenham
  9. S. Toms (2012), ‘Economic development, climate change and the limitations of corporate social responsibility’, in Kathryn Haynes, Alan Murray, Jesse Dillard (eds), Corporate Social Responsibility, A Research Handbook, Abingdon: Routledge, pp.28-40.
  10. S. Toms, (2013), ‘The life cycle of corporate governance’, in M.Wright, D.Siegal, K.Keasey, I. Filatotchev (eds.) Oxford Handbook of Corporate Governance, Oxford: OUP, pp.349-364.
  11. Beck, M. and Toms, S. (2009) “Accounting Disclosure and Human Rights” in Mallin, C. (ed) Case Studies in Corporate Governance, Cheltenham, Edward Elgar, pp.194-215.
  12. S. Toms (2009), ‘The English Cotton Industry and the Loss of the World Market’ in Wilson, J. (ed) King Cotton: A Tribute to Douglas Farnie, Lancaster: Carnegie, pp.58-76.
  13. Beck, M and Toms, S. (2008) ‘Refinancing and the profitability of UK PFI projects,’ in Akintoye, and Beck (eds.) Public Private Partnership: Policy, Management and Finance, Blackwell Science, pp.64-81.
  14. S. Toms (2008), ‘Accounting for Capitalism’ in Edwards, J.R. and Walker, S. (eds) Routledge Companion to Accounting History, London: Routledge, chapter 15, pp.341-353.
  15. S. Toms, (2007), ‘Accounting and capitalismThe Blackwell Encyclopedia of Management, in Cooper, Cary L. (ed) Blackwell Publishing. Blackwell Reference Online. 05 February 2007. <http://www.blackwellreference.com/subscriber/tocnode?id=g9780631233176_chunk_g97814051182794_ss1-1>
  16. Popp, S.Toms, and Wilson, J (2007) ‘Industrial districts as organisational environments: Resources, networks and structures’, in Daumas, J-C, Lamard, P and Tissot, L (eds), Les territories de l’industrie en Europe, 1750-2000, Paris: Presses Universitaires de Franche-Compte.
  17. Peggy Hite, John Hasseldine, Abeer Al-Khoury Simon James, J.S, Toms= and Marika Toumi, (2003) 'Tax Practitioners and Tax Compliance' in A.Lymer (ed) for the Taxation Research Network Proceeding (Ashgate Press).
  18. J.S. Toms and M. Wright (2005) ‘Corporate governence, strategy and structure: US and British comparatives, 1950-2000, in Filatotchev, I. and Wright, M. (eds) The life cycle of corporate governance (London: Edward Elgar).
  19. J.S. Toms* and I Filatotchev (2005), ‘Corporate governance and financial constraints on strategic turnarounds’ in Filatotchev, I. and Wright, M. (eds) The life cycle of corporate governance (London: Edward Elgar).
  20. J.S. Toms* and I Filatotchev (2003) 'Networks, Corporate Governance and the Decline of the Lancashire Textile Industry, 1860-1980' in J.F. Wilson and A. Popp (eds), Clusters, Networks and Industrial Decline (Ashgate Press).
  21. J.S. Toms (1995), `The Financial Performance of the Lancashire Textile Industry, 1880-1914' in Blanchard (ed.) New Directions in Economic and Social History, Economic History Society, Newlees Press.

Papers published in refereed conference proceedings

D. Fitzsimmons (with S. Toms + five others) (2009) ‘UpLIFTing PFI: Does LIFT improve public-private procurement,’ Systemist, Proceedings of the UK Systems Society Conference.

Editorial duties

Oct 07- Present, Executive Editor (joint) Business History
Feb 09- present, Associate Editor British Accounting Review Editorial board member:
Dec 08- Present, Journal of Management Studies
Jan 05 – Sept 07, Business History
Jan 05 – present, Accounting, Business and Financial History
Sept 05- present, Management and Organisational History

Ad hoc reviewing: British Journal of Management, Accounting, Auditing and Accountability Journal, Corporate Governance: An International Review, Accounting Organisations and Society, Textile History, Journal of Industrial History, BPS Division, Academy of Management, Culture and Organisation, Accounting Historians Journal, International Journal of Production and Operations Management, Accounting History, Accounting and Business Research, European Accounting Review, Financial History Review, International Journal of Production and Operations Management.

Conference presentations (selected)

2011 Annual Public Administration Committee (PAC) Conference will take place at The University of Birmingham on 05 - 06 September. Mathias Beck, Sally Brown and Steve Toms Saving Public Private Partnership? Lessons from the NHS Local Improvement Finance Trust Initiative.

Steve Toms with Neveen Abdelrehim and Josephine Maltby, ‘A pretty good deal just now’: The Anglo-Iranian Oil Company, Oil nationalisation and Managerial Response: 1951, Association of Business Historians Conference, University of York, 17th July 2010

Steven Toms was an invited keynote speaker at the ESRC funded seminar ‘When worlds collide’: contested paradigms of corporate social responsibility held at the British Library, December 2008.

Steven Toms (with Aly Salama), Risk and value in labour and capital markets: The UK corporate economy, 1980-2005, seminar held at the Business School, University of Durham, February 2009.

Steven Toms (with Josephine Maltby and Neveen Abdelrehim) Oil Nationalisation and Managerial Response: The Anglo-Iranian Oil Company, 1950-51, European Business History Association, Bocconni University, Milan.

Steven Toms (with M Beck and J. Maltby) ‘Ruhr Valley Industrialists, ‘Welfare Capitalism’ and Privatisation in 1930s Germany: An Extended Response to Germà Bel, Association of Business Historians, University of Liverpool

Steven Toms was invited to provide a plenary commentary and response to papers presented on the theme ‘Beyond Chandler – Intellectual Impulses for Business and Management History Tomorrow’ at the  School of Business and Management Queen Mary, University of London

Steven Toms was invited to speak on the Accounting and Finance aspects of Business History at the workshop on ‘Business History in Global Business Schools’ School of Business and Management Queen Mary, University of London

Steven Toms In Defence of Business History: A reply to Taylor, Bell and Cooke.

Management History Research Group, York, July, 2009-09-28

Steven Toms (with Richard Macve [LSE] and Dick Fleischman [John Carroll] ‘Return to Boulton and Watt’ Accounting Business and Financial History conference, Cardiff University, September 2009.

Other works

  1. S. Toms (2008) ‘Accounting Based Risk Measurement’ CA Magazine, ICAS, January, pp.62-65.
  2. S. Toms (2001), 'Eco-logical', Financial Management, January, pp.14-16. Winner of the 2002 International Federation of Accountants FMAC Article of Merit Award
  3. S. Toms (1999), ‘Financial Incentives for Corporate Greening: Some UK Evidence,’ Social and Environmental Accounting, Vol. 19(1), pp.5-7.
  4. S. Toms (1997), `Company Values', Gulf Business, April, pp. 74-5.
  5. S. Toms (1995), `A Guide to Break Even Analysis, Business Studies, Vol. 8, No. 1, October; 12-14.
  6. S. Toms (1995), `Financial Statements: How are they prepared?’ Business Studies, Vol. 7, No. 3, February; 7-9.

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