Professor Elam
Accounting & Investing Info for San Antonio A & M
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Category: Financial Acct
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Wed March 24 2010 Lehman was involved in repurchase agreements that allowed it to move assets off its balance sheet for the end of the quarter reporting, and then bring them back. They would want to do this as a bank has to maintain a certain ratio of equity underlying those assets, in this case…
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Tuesday March 23 2010 Here is a great article pointing out that companies targeting the high end, Apple, and the low end, Accer, are doing well. Those in the middle, not so well. Nokia has twenty times the market share of Apple in phones but makes the same money. Interestingly the market for luxury cars…
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Tuesday March 23 2010 Many retirement plans have been sort of backloaded, in that one's retirement compensation is set using the last three or five years of compensation. So, figures out a way to sit in a better paying job the last few years and it really boosts the retirement pay. Now Florida is saying…
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Friday March 19 2010 I received this notice from TSCPA today. we will of course be incorporating this IFRS information in future courses, the sixth edition of Spiceland will include information on this topic. Those of you planning to take the exam however based on what you have learned thus far have three windows remaining. …
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Thursday March 18 2010 We have put up article after article about the weak to bankrupt conditions of many states and cities. Here is another sign that one of them is at least trying to do something about it. Pennsylvania for only the second time in its history (note this is one of the original…
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Wed March 17 2010 The Senator from Delaware Ted Kaufrman summarized the story to date. And he makes some concrete suggestions for reform. Needless to say none of them are in the Dodd bill. This is lengthy but will be required reading for all future intermed accounting classes.
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Wed March 17 2010 Our states in the US are the equivalent of nations in the European Union. Those nations had to agree to monetary measures that would assure their contribution to the value of the currency and the union. Becoming a bankrupt would not be allowed. This is precisely the reason Greece is being…
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Tuesday March 16 2010 Tue Mar 16, 2010 3:13am EDT (Reuters) – Lehman Brothers Holdings Inc ousted whistle blower Matthew Lee just weeks after he had raised concerns with Lehman's auditor about the firm's accounting in 2008, the Wall Street Journal said, citing people familiar with the matter. Lee, a former senior vice president, Finance…
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Monday March 15 2010 Annie Leibovitz is perhaps the most famous portrait photographer in the world, and the world personal finance manager. Awash in debt, she nearly lost control of her valuable portrait collection. We study the liability side of the balance sheet in Intermed II Accounting, well here you go, Annie nearly lost it…
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Monday March 15 2010 We have labored mightily to catalog the troubles of states and cities funding their pensions, and their muni debt, which to pay? The lead article in this week's Barrons is $2 Trillion Hole, detailing this dilemma. We study the liability side of the balance sheet in Intermed II. A municipality, Vallejo…
Professor Elam 