Professor Elam

Accounting & Investing Info for San Antonio A & M

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  • Professor Elam

    Students Attend Annual SA CPA Academic Awards

    Monday April 20, 2015

    I asked TAMUSA student Sofia Carrizales to pen her  impression of the Awards luncheon last Friday. Here is her report, thanks Sofia!

    Fri April 17, 2015

     

    Hello Accounting Students and Faculty,

     

    Today the San Antonio CPA society hosted an event the Accounting Awards/Meet the Firms Luncheon, where a total of nine Universities and thirteen CPA firms where present.  The Luncheon served as a fundraiser but was also to award an Outstanding Accounting Student and the Accounting Excellence Award Winners from Each university. Actually one of our fellow students from Texas A&M University- San Antonio took an award; Congratulation to Beatrice Therwhanger for all her hard work and dedication P4170023

    The Luncheon serves us accounting students as an opportunity to network with other accounting students and possible future employees. It also provides students with the opportunity to meet with hiring managers and other CPA’s as well. People are very friendly and courteous, sharing valuable information on life as a CPA.  Plus the food was great along with a salad and deserts at no cost to student member of the SA CPA society.

    For more information on when the next San Antonio CPA society event will take place you can contact Amanda Talaat she is Assistant Executive Director there.

    See you at the next event

    Sofia Carrizales

     

    At right that is Sofia, Deb Alvarado the Becker CPA Review Rep, and Beatrice.

  • Professor Elam

    Students Attend April 2015 SA IIA Meeting

    Monday April 20 2015

    Four students including Sofia Carrizales,Alejandro Leal, Beatrice Therwhanger, and Denise Trejo joined me at the San Antonio Institute of Internal Auditors meeting this past Wednesday. 

    A partner from PwC spoke on auditing automated internal controls.  I was approached by Aventine Hill and asked to provide student  applications for an accounting internship.That is a perfect example of how networking at these events aids the outcomes of our students.

    Networking Tip – Have some business cards made as  a student.  Include your name,  major, spell out

    Texas A & M University San Antonio, Expected Graduation Date, and of course your cell number and e mail address. 

    That way you will establish contact with others.  Be sure to store your cards in your book bag and your car, 

    For example, the PwC partner had come from Dallas just for this meeting and he intends to open an office here.But he did not have a business card for me when I offered him one of mine,do  not let this happen to you!

     

  • Professor Elam

    Energy Revenues Lower Than Expected

    Monday April  20, 2015

    Here is another example of how you can learn by reading the WSJ. Dim Expectations for Halliburton reports that HAL earnings fell from  5.35 a share for  2015 to 4.62 and now are expected at 1.26. 

     

    This article also analyzes the Baker Hughes acquisition,probably okay but no bargain. We are studying earnings per share in ACCT  3312 and this article certainly examines that issue. 

  • Professor Elam

    Social Mood Shift Underway

    Weekend April 19, 2015

     

    Tom McClellan points out 18% tax rates are the harbinger of recession, always.  This is excellent be sure to read. 

    Weekend Headlines

    WSJ

    Markets Lost Their Footing Across Globe

    Officials Warn Greece Time is Tight

    Bloomberg Terminal Outage Roils Trading

    Oil Wanes on Doubts Production is Leveling-the rally cameo a false premise of putting production

    US Stock Crumble Ending Lower for Week

    Texas

    Texas Job streak comes to end – early March numbers show low of 25,400 non farm positions

    the news is plain to see, the job of a socionomist is to point out the change in mood.The change in mood is literally jumping off the front page. Scan these headlines to see just how quickly mood is changing.

  • Professor Elam

    Career Night at Trinity University

    Weekend April 18, 2015

    Screen Shot 2015-04-18 at 2.24.16 PM

  • Professor Elam

    Companies Moving to New COSO Framework

    Thursday April  16, 2015

    Over three-fourths of companies filing   indicate they will adopt the new COSO format.

    The team reporting on COSO might want to include this in their paper.

     

  • Professor Elam

    MF Global Creditors to Get Paid

    Thursday April  16 2015

    MF Global Investors will be paid 74% of what they are owed.

    We covered this in Ethics class, how is it that Jon Corzine is running around loose and still in the investment business when 26% of the clients got zilch?

  • Professor Elam

    Ernst Settles Lehman Case

    Thursday April 15 2015

    Ernst settles the Lehman case for $ 10 Million.  Like Enron,Lehman cooked up a scheme to move liabilities off their balance sheet.This was known  as Repo 105. Ernst was the auditor when Lehman evaporated. Ernst previously agreed to pay $99 million to settle various civil suits. 

    Ernst did not admit nor deny wrong doing. Ernst claims accounting issues did not cause the firm total.That is probably true but hardly accurate. 

    Ernst gave Lehman a clean bill of health knowing about Repo 105. In its last and same year,CEO Richard Fuld paid himself $ 300 million, and never was a charged with anything.

    I don't understand now Fuld is out on holidays while Skilling and Fastow went to jail,do you?

    More on Lehman here.

  • Professor Elam

    Book KeepingJob

    Wed  April  15,  2015

    A student sends this looking for a full charge bookkeeper ad.  Contact me for  details.  You must know quik Books already,no on the job training.

     

    He owns a small but very successful and growing/busy catering company, and he is seeking a full charge book-keeper to run the office and handle all payables, payroll and bank reconciliations.  He uses Quick books.   

  • Professor Elam

    Owens Posts Big Losses

    Wed April 15 2015

    Owens OC.N was a big loser on Wall Street yesterday.

    It may fail the going concern test.  This article demonstrates much what we study in financial accounting.