Accounting & Investing Info for San Antonio A & M
Monday April 28, 2014
Last week Apple announced a seven for one stock split and an 8% dividend increase. As one student noted in class, that just bought them time to do something constructive.
kPhones now dominate their sales structure. Frankly I don't know if Apple can continue to generate these kind of sales unless of course they develop a lower much lower, cost strategy for China and developing countries.
The next announcement will be in the Fall.
Friday April 25 2014
Well as he says, somebody won and hey we were all doping. I think the real tragedy, as he says. is that now, no one won for seven straight years. This seems terribly unfair to those that played fair and finished the race. What was the oint? And now of course, there is a chance the sanctioning body could do it again, which is to say after the fact declare that no one won.
I suspect Lance will spend most of his time now as a legal defendant.
Friday April 25, 2014
Scott London, the KPMG partner pleading guilty for insider trading will serve 14 months and pay a $100,000 fine
This is perhaps one of th emore amazing cases in audit fraud. London gave up inside information for a mere $70,000 and a $12,000 Rolex watch. Presumable he can watch the time pass in prison but without the Rolex which will surely be elswhere.
Was this justice? I would agree that losing the job and the respect of the community is pretty punishing. But it seems to me that community service of
A You Tube video series about what motivated himj to betray his client's trust
Where is he now, what does his family thinnk, divorce is typical in such situations by the way
What does he think the profession ought to do, clearly the Code of Conduct did ont influence this guy
Your take?
Thursday April 24 2014
I found this link to the Jefferson page – Professor Elam
http://www.allinternships.net/internships-by-company/jefferson-bank.html
Please call me with any questions, 210-736-7785. Thanks!
Summer 2014 Internships:
Mortgage Intern (6015 Broadway)
Teller Intern (1777 NE Loop 410)
Teller Intern (7666 Bandera)
Loan Admin Intern (3 positions) (7666 Bandera)
Accounts Payable Intern (1777 NE Loop 410)
Crystal Torres
Recruiting Officer
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Jefferson Bank |
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P.O. Box 5190 |
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San Antonio, Texas 78201 |
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210-736-7785 |
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210-736-7783 (fax) |
Wed April 23, 2014
Apple is being criticized for not having another miracle product in its pipeline. After
iTunes
iPod
iPhone
iPad
what's enxt, well probably nothing, perhaps another version of iTV. One comment I read about Jobs miracle success was that he was fortunate. He was out of Apple while others failed at products for which the technology was just not ready. Many tried a tablet including Apple, remember the Newton, no, neither does anyone else.
Lots of inventors tried to create a heavier than air flying maching for centuries, it never worked until there was an internal combustion engine that could power the plane. So the Wrights got the credit while they were standing on the shoulders of inventors for many years.
Apple
Yesterday Imentioned the Product Life Cycle in Class. A product goes through discovery, usually by an unknown firm, like iTunes as Apple was struggling for its very existence. Then a huge growth period follows. Then competition emerges, prices fall, margins shrink, the market gets crowded. Most customers that want one of whatever it is, now have one. The originator struggles to have diversified versions of the same ie, think i Mini Pad. And finally lower margins and competition lead to a fall in sales.
One can literally see that in the graph of Apple above. At $650, the talking heads on CNBC were certain Apple was headed to $1,000, it was just a matter of when. Instead Apple plunged below $500. Now it is tracing out a distribution pattern, those late to the party are buying in. Notice the lower voume in the chart. The hot money is now playing Tesla and such.
LULU
Students are aware that I have used LULU as an example in class. Now one can see the same thing happening to the uscale maker of Yoga togs. Price has dropped below all three moving averages. The market is saturated. Remember the rhyme about how all the King's horses and Men could not put
Wed April 23 2014
McDonald's is designing its kitchens to look more like Chipolte Mexican Grill. Managerial accounting is all about process improvement. This is an example of both speed and perception. Customers apparently like to see the food prepared. This is the case now that I think about it for Macaroni Grill which has an open kitchen and to a degree other Italian chains.
Managerial accounting is not about debit and credit accounting but improving internal process for better returns on both human and financial capital.
Wed April 23 2014
Nike began the rush to manufacture overseas. Without any labor laws in many countries, Phil Knight admits the company became synonomous with 'sweat shop' type manufacturing.
I noticed one of the controls Nike has instiuted is new internal audit procedures. Here is another example of why and how internal audit is one of the fastest growing segments of the accounting industry.
Wed April 56, 2014
The Bard turns 450 years old this week. Here are some common phrases coined by the playwright.
Gee, who knew?
Thursday April 17, 2014
TAMUSA Accounting students were invited to help with the details of the 2014 CPE Day (4/16/14) for San Antonio Institute of Internal Auditors. This year the seminar focused on fraud issues. TAMUSA Students worked in shifts throughout the day helping in check-in and CPE sign in through the various sessions. HEre is a look at our students throughout the day.
Left to right, Eric Watkins, Edward Sanchez, and Beatrice Therwhanger took the first shift during registration sign in. The 
actual program started at 8 30 wiht most attendees arriving between 8 00 and 8 30. With 158 registered there was plenty to do in thirty minutes!
Here is a better heads up shot of the three early risers. Left to right
Edward Sanchez
Beatrice Therwhanger
Eric Watkins
There were four presentations. The first featured an FBI investigation into the San Antonio Housing Authority. The fraud was that contractors had to pay bribes to obtain work on the vaious projects.
Weaver CPAs then presented on Cybercrime, MItigating Wire Transfer Fraud
Resource Global Professional Antholny Cecil presented on Using Technology for Data Driven Investigations of Fraud.
Melissa Martin with Weaver CPAs discussed Coordinating Fraud Risk Assessment with Enterprise Risk Mnagement.
Evelyn Paris, left, and Denise Trejo assisted duriong the noon hour.
Adam Arevalos with Valero explains some internal audit concepts to Pauline Gleim and Claude Nchanji.
There was ample opportunity to both observe the sessions and visit with attending professional internal auditors.
And the officers of SA IIA had plenty to do, like Santa, keeping their list and checking it twice.
Some 158 Chapter Members wer on hand, I think 141 checked in the last ten minutes before the start 
time!
At left REmi Nei, Treasurer,
Cecilia Tankersley, Secretary
Camille Marbury, Vice President
look over the registration process.
Claude Nchanji had this to say about the event.
What a great opportunity to attend and volunteer, at the Institute of Internal Auditors, San Antonio Chapter, 1-Day Fraud Seminar! We, as students, were able to participate in the seminar with members. We networked and learned more about internal audit (topic specific each month). Internal audit is a dynamic and growing field within our discipline. I experienced multiple introductions to internal auditors, and others. Attendees are energetic about their field, warm and welcoming of questions/conversation. I think they enjoy our presence as well. IIA's President, Adam Arevelos and Vice President, Camille Marbury made sure our student volunteers were very welcomed at their event.
-Thank you SanAntonio SA IIA for inviting us.
Denise Trejo contributed teh following comment -
Hello! My name is Denise Trejo. I had the honor to volunteer at the San Antonio IIA Fraud Seminar. It was a great experience for me. I also had the opportunity to meet some of the officers of the IIA – all of whom were very welcoming and encouraging.
As an accounting student, the career possibilities can be positively overwhelming. The seminar offered great insight into the world of audit by allowing us to attend the scheduled seminars and meet others already established in their field. The day was full of information, and I was lucky enough to hear Anthony Cecil of Resources Global Professionals speak.
I want to thank Dr. Elam for exposing us to such wonderful resources. Also, a very, grateful thank you to the San Antonio Chapter of Internal Auditors for welcoming students to enjoy the seminars and allowing us to feel like part of the group!
Yeret Bustons commented as follows
My experience was a positive one. I participated in the seminar that included ACH and online transactions. I was fairly familiar with all the concepts and procedures they encountered. I learned that liability rests on either party on a case by case basis; this makes sense as many are situations are unique.
This was both a learning and a participatory experience, Thanks for SA IIA for inviting us. In this manner we got to visit up close and personal with San Antonio accounting professionals.
Edward Sanchez found the FBI presentation interesting
I wanted to express my gratitude for allowing me the opportunity to volunteer at the SA IIA Fraud Seminar. I really enjoyed helping to register the Auditors because it gave me an opportunity to interact with Auditors from different companies across San Antonio. The session by FBI Agent Fred Olivares was very interesting. I took away one question that he kept asking, “Would your internal controls catch this?” I had not considered auditing as a career path until this session. It sparked an interest in auditing for me and I am seriously considering auditing for my career. If I did not have this opportunity to volunteer, I would not have realized the various opportunities auditing would allow. Thank you again for the opportunity.
Beatrice Therwhanger worked the 'early shift'
It was a great opportunity to be an early-bird helper at the SA IIA Fraud Seminar. I had fun working alongside various IIA board members while checking in seminar attendees. After the “morning rush” was over we were able to attend the presentations. I listened to FBI Special Agent Fred Olivares speak on the awareness of internal controls and public corruption.
Professor Elam has been instrumental in encouraging TAMU-SA student participation with the San Antonio Institute of Internal Auditors, giving us a chance to network within a wide range of companies and professionals. It’s exciting to see the opportunities available for accounting graduates. Thank you Professor Elam and SA IIA.
Professor Elam 