Professor Elam
Accounting & Investing Info for San Antonio A & M
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Category: Audit
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Thursday March 30, 2017 It sure would have been interesting to have been the 'fly on the wall' observing the negotiations between PwC and the Academy Award Committee. PwC Partners Cullinan nd Ruiz are of course out of the Oscar business, but remain partners. I am unable to confirm my prediction that they would be…
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Wed March 22, 2017 Accounting reports assume a company will remain in business. If it appears the company is not generating enough cash to meet expenses, a going concern statement is issued with the report. We have followed the downward spiral of Sears Holdings SHLD for some time now. Yesterday SHLD issued a going concern…
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Tuesday Oct 25, 2016 After posting the article on CAEs rising in importance I ran across this ad for a Senior Internal Auditor for USAA Real Estate. I thought you would find this interesting as it goes into great detail of just what the person is expected to do.
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Thursday Sept 29, 2016 Have you read at least one Sherlock Holmes short story? I believe there is a great deal to be learned by studying the practices and methods of the famous detective. Arthur Conan Doyle published the stories from 10891-1927. He even killed off the detective only to have readers clamor for more…
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Wed Sept 289 2016 Renita Eizaldae comments on the Wednesday Sept 21, 2016 event. The Member Appreciation Seminar- Linguistic Lie Detection: Words Never Lie but People Do was the second event with the San Antonio chapter of the IIA that I have attended as a student. The event was loaded with information. My understanding…
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Monday Sept 19, 2016 So really what are your reserves worth? In a world where the price of oil can lose over 70% of its value in a few months, that is a good question. There is yet another article on Exxon's lack of write downs. And a couple of professors are quoted as saying…
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Thursday Sept 8, 2016 Ross McNutt is working his latest project in Baltimore, Maryland. His company, Persistent Surveillance Systems, has been photographing a 30 square mile radius continuously since January using a special Cessna fitted with a 192-million-megapixel camera setup. That’s the equivalent of 800 video cameras live streaming to his downtown office, where the…
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Sept 1 2016 Thursday Thank goodness for Lululemon. Female students need not worry about he stigma of wearing reasonably priced togs to yoga class. Yep the hey day of $100 yoga pants and $50 tops has arrived. But is Lulu stock a bit pricey at 30 times earnings? this is an example of how reading…
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Thursday Sept 1 2016 The PCAOB found evidence deficiencies in 24% of the sample audits inspected. This sample included DeLoitte and PwC. To be fair 24% for DeLoitte and 223% for PwC. The audits were deemed deficient due to not having sufficient evidence to support the conclusions. In ACCT 4311 Audit there is an entire…
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Weekend August 28, 2016 ACL releases new apps to analyze ERP sytems. The big problem with forensic accounting and fraud detection is the lack of forward looking analysis. ACL now offers digital apps which scan ERP systems for gaps incontrol. Here is another example of accountants using 'big data' to improve detection.
Professor Elam 