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  • Professor Elam

    Ethics Watch

    March 8, 2016

    Tuesday March 8, 2016

    GOLDMAN ADVISER TO 1MDB QUIT AFTER ALLEGED VIOLATIONS

    The Goldman Sachs Group Inc. partner who handled deals for the controversial Malaysian state investment fund known as 1MDB, which was involved in power plants, an oil company and a petroleum investment firm, was suspended and later quit after investigators found he allegedly violated company policies, Justin Baer and Ken Brown report.

    Goldman placed Tim Leissner, its Southeast Asia chairman, on leave after a review of his email found that he had allegedly sent an unauthorized reference letter on behalf of an individual to another financial firm in 2015. The letter also included statements that Goldman believes to be inaccurate. The letter wasn’t linked to business that Goldman did for the Malaysian fund, and the firm has found nothing wrong with his dealings with the fund.

    In Brazil, pressure is building to oust President Dilma Rousseff following last week’s police questioning of her political mentor, Luiz Inácio Lula da Silva, in connection with the Petróleo Brasileiro SA corruption scandal, Paulo Trevisani and Marla Dickerson report.

  • Professor Elam

    The Latest on IFRS and GAAP

    March 7, 2016

    Monday March 7, 2016

    Here is the latest on IFRS and GAAP.

    The author makes the point that global accountants will need to know both.

  • Professor Elam

    Shake Shak, Still Pricey

    March 7, 2016

    Monday March 7, 2016

    Screen Shot 2016-03-07 at 7.02.13 AM

    From its initial IPO, SHAK doubled ina few weeks. It has now returned to its IPO price. But SHAK is trading at  125x its next year earnings. That is down from trading at 1,000x future earnings.

    This demonstrates what we will be studying in ACCT 3304, which is earnings per share and the price earnings ratio.

  • Professor Elam

    Trumped – too Funny

    March 5, 2016

    Weekend March 5, 2016

    Trumped features Nathan Lane and Mathew Broderick reprising their Producer roles.

    this time this idea is similar to the Producers. PIck a candidate, raise money, and when everyone realizes this is the worst candidate possible, leave town with the money.

    Hmm now what candidate would that be?

    Screen Shot 2016-03-05 at 3.45.51 PM

  • Professor Elam

    Trump’s Real Record

    March 5, 2016

    Weekend March 5, 2016

    Trump has been a disaster running Trump Casinos and Hotels.

    While all the other casinos were making money, Trump ended in Chapter 11. He siphoned off millions for himself. This reminds me of how Lampert runs Sears Holdings.

    And of course his hapless opponents have failed to point this out instead resulting to personal insults calling him a con man or a phony.

  • Professor Elam

    Irony of McLendon’s Indictment

    March 4, 2016

    Friday March 4, 2016

    This write notes that McLendon's actions actually kept leasing costs down.

    Usually one is indicted for artificially raising costs.

  • Professor Elam

    Changes in the CPA Exam

    March 4, 2016

    Friday March 4, 2016

    My friends at Gleim Exam prep have provided this comprehensive explanation of upcoming changes in the CPA exam.

    When I took it way back in 1975 we about three of seven questions were essay with four being multiple choice. After going to the other extreme of near all multiple choice, it appears the exam is going back to more individualized responses. And note all exams are now four hours long for a total of 16 hours.

    This re enforces the need to utilize preparation material that mimics the actual exam as much as possible.

     

  • Professor Elam

    Drones Take a Starring Role

    March 4, 2016

    Friday March 4 2016

    Eye in the Sky is a tick tock thriller.

    the plot revolves around the decision to unleash a drone strike on suspected terrorists before they can do more harm. The hitch of course is that nearby civilians will also likely be killed.

    Helen Mirren and Alan Rickman star, regrettably Alan has died so this is his last screen role.

    This would be a good topic for the ethics class.

  • Professor Elam

    Changes coming to CPA exam

    March 4, 2016

    Friday March 4, 2016

    Big changes are coming to the CPA exam.

    This makes it even more imperative that you prepare with a system that appropriately mimics the computer experience of the exam.

  • Professor Elam

    The Art of the Deal

    March 3, 2016

    thursday March 3, 2016

    How He Did It is explained in his own book,the Art of the Deal

    This is a good topic for our ethics discussion in class this saturday. Back in his hey day, Cassius Clay observed

    Just make sure folks are talkin' bout ya

    Don't matter what they say

    Trump took that admonition and built on it. The clues were in plain sight, the book was published three decades ago but none of his competitors took it seriously.

    Chaos in the competition only nelps Trump.

    Egoism among the competitors keeps three in the race dividing the vote so Trump is guaranteed the most votes by the convention.

    Dan Henninger says it is time for The Speech.

    Is Cruz or Rubio (who has yet to win a single state) capable of doing that and would it turn the tide at this point?

    IN another column McGurn suggested that the Trump promises are an echo of Arnold S run and time as governor, hmm, how did that work out?

     

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