• Professor Elam

    Sunday Jan 29, 2012

    Screen shot 2012-01-29 at 6.37.55 AM
    I spotted this book in Texas Monthly. SMart Thinking has six great reviews here at Amazon. 

    Sounds like a good read to me!  Oddly there are few to no courses on how to succeed in college. Looks like this would be a GOOD START. Here is one review.

    Art Markman is a leader in the field of cognitive psychology and is someone who has made an impressive career by studying how people think. His book Smart Thinking is, well, smart. Engagingly written, Markman describes the most effective ways for people to approach, think about, and learn about new problems. 

    This should be required reading for any student coming to college, new employee starting a career, or anyone who wants to be more thoughtful in life. Part "how-to" and part good science, this is a fun book to read. When you're finished, you will have a better understanding of how toilets flush, why proverbs are helpful, and why multitasking is evil.

  • Professor Elam

    Friday Jan 26, 2012

    A bioinformation specialist set records winning the most money in one episode of Jeopardy.

    He prepared for several years by  'mapping' his brain. Read how Roger Craig did it.

    Hmm I wonder if we could do this for students in their respective majors, map your brain's understanding of statistics or accounting. 

  • Professor Elam

    thursday Jan 25, 2012

    Screen shot 2012-01-26 at 12.38.21 PMSecond Saturdays at TAMUSA are our free film festival. February is my turn. If I had my way, and in this instance I do, every student would be required to view and write his or her impressions about this film. 

    This is not To Sir With Love. More like, having Darth Vader for the Dark Arts course at Hogwarts. John Houseman plays Professor Kingsvfield, advisor to Presidents and the Supreme Court and recognized authority on his topic-Contract Law. 

    Timothy Bottoms plays the ubiquitous freshman law student Hart. Kingsfield's class transforms Hart. As he remarks in the most important scene in the film 

    It's only Octoer, and already half the class has given up. 

    Yep the gang is  all here as the students form a study group and outline their share of hte assignments. The obsessive dismissive know it all with his 800 page outline, the thoughtful student, the up against a force he can't handle student, and the rest of the rabble, not really up for the contest. No doubt you will recognize some of your former class mates portrayed in the film. Times change, students don't. 

    Previous students tell me they insisted their teenagers watch this film with them, bring them along, it's not too early to set life goals. 

    I will have some history on the film, movies about teachers, and why this is One of the Essentials. 

    See you Second Saturday at 6 PM. A quiz grade for those that post a good review and refllection on the BB Discussion Site. 

     

  • Professor Elam

    Thursday Jan 25, 2012

    The War of Art by Steve Pressfield is all about overcoming Resistance to find your inner creative self. 

    All three of my sections have a writing assignment utilizing Emerson's Self Reliance and Kirk Tuck's Lonely Hunter. I suggest if you enjoyed those, click on the link and read the synopsis of Pressfield's first non fiction book. 

    I have a copy if any one would like to read it and review it for the class. 

    Now my point is this, in the Ethics class the entire class was assigned a submission to our SWTLC confernece. I have only seen a about three of what should be ten submissions posted thus far on the Discussion site. Only a handful have posted their essay on Emerson due this weekend. 

    While the Ethics class meets every other saturday that should not be the template for activity in the class. By now each team should have an outline for their business case. It should feature the prominent individuals, a time line, and the relevant facts of the case. Each day the team should be scanning headlines for recent events or similar events that would add depth and dimension to the case. And at the same time, what ethical constructs are involved?  One student came by to retrieve a book from my library about her central character. In our short visit it was clear resasearch was lready underway as she mentioned some things I did not know about the case. That is the way to bulid the case without burning midnight oil, the easy way not the hard way. 

    The intermediate classes are reviewing adjusting entries and such. Students should be ramping up their study efforts. 

    Self Reliance starts with Self

    Get cracking…..Know thyself…Overcome the Resistance

     

  • Professor Elam

    Wed Jan 25, 2012

    Check out Apple's last quarter results.

    This carticle makes it clear why it is important to study accounting, note the improvement in gross margin. 

    Kindle and iPad are both able to expand as new items in the IT market. PC sales are flat I would expect. Notably neither HP nor Dell have been able to bring successful tablets to market, gee could it be the MSFT interface?

    Kindle is an e book product, iPad is a lighter weight faux laptop. There is room for both. 

    I find the iPad frustrating in that one has to navigate multiple book platroms. From this standpoint it is rather like 1978 whencompeting computer makers all had different operating systems. OVer time this will wither to fewer kindle type apps.

  • Professor Elam

    Tuesday Jan 24, 2012

    James Turley the CEO fo Ernst is interviewed in today's WSJ. This is the perfect example of why you should be subscribing. I don't see the article in the online version of the WSJ While his answers are power point perfectly obscure adn general, it is interesting that they tookin about $22 B last year. 

    Ernst is the latest auditor for Olympus after KPMG, the latter a firm that seems to be the heir apparent to Arthur Andersen for getting aligned with unsavory clients. 

  • Professor Elam

    Monday Jan 23, 2012

     

    A letter to the WSJ today makes the point that the first time an external audit firm performs an audit, they do due diligence and evaluate controls. As time goes on and they settle in however, they really become more of a joint venture partner with the firm, that professiional skepticism gets replaced with a similar perspective. 

    We hope to have an excerpt from Stephen Frey's Shadow Account which makes thispoint very well. 

  • Professor Elam

    Monday Jan 23, 2012

    A look at the reports in today's WSJ and elsewhere indicate that Gingrich cic not just beat Romney in S Carolina, he whalloped him across the board in multiple categories. Now Romney plans yet another series of 'attack ads' on Gingrich in Florida. Hmm, didn't that just fail in S Caroilina?

    Socionomics  is the new social science of prediction based on endogenously produced social mood. 

    While we are not $2,000 a day political consultants, we can make these observaitons. 

    Voters in the S Carolina Rep primary are probably political junkies, which is to say rabid fans who follow political websites and such, as evidenced by the very fact that they voted. With a religious profile, they voted for Newt in spite of his checkered background of multiple marriages, supposed ethics violations and such. Why?  Clearly what Newt is saying resonates with the group. They feel marginalized by the media, the kind of look down your nose questions posed by Stephanopolous and Diane Sawyer, and their frustration that the media never seems to ask Barack a tough question. 

    Romney' lack of sharp responses is the reason he is not resonating with this group. His lackluster defense of Bain, and the overall perception that he is just not up to the brawl coming up for the nominee, has left him wtih only tiny New Hampshire for a victory. 

    The better idea would be to take the best of Newt, (Barack is the biggest food stamp president in history) andincorporate those bits into his campaign. Perhpas Newt is pugnacious and given to spinning into outer space but voters are deciding that may be the better tactic than another Ford,  Bush I, Dole, Bush II, finally losers all line up. 

    Attacking Newt at this point will be like throwing Brer Rabbit in that famous briar patch, it is where Newt is most comfortable. 

    In summary Romney needs to tap into the social mood for Newt, not fight it. 

  • Professor Elam

    Monday January 23, 2012

    The experession in our title refers to the idea that say Grandfather starts a business by working hard and long. 

    Son inheirts the business and does reasonably well as long as the growth cycle does not fall too far into the maturity cycle. 

    Grandson comes along as the maturity cycle kicks in, there is ample competition and duplication by others, and bingo, the business is gone. 

    These days all that can happen a lot faster as evidenced in this article about iPhones in China.

    The US has lost its manufacturing base. Actually the temp employees in Austin, Tx as semi conductor firms model a lot of what this article describes. But once we lose this ability to adapt as we had during WW II, it is near impossible to get it back, just ask Britain.

    Screen shot 2012-01-23 at 6.43.38 AM
    anybody ever see the movie Swing Shift?  Goldie Hawm never got credit for making the serious movies she made and this is one of them. It features a god look at WW II production and how we did it. 

  • Professor Elam

    Monday January 23, 2012

    Deb Alvarado our Becker CPA rep reminds me that students can be nominated for the 

    Becker CPA Accounting Scholarship.

    If you a re interested drop me an e mail with the details required on why you should be nominated.