• Professor Elam

    Friday March 4, 2011

    Tom Friedman offers some insight on the Tipping httphttp://en.wikipedia.org/wiki/Trabant//en.wikipedia.org/wiki/Trabant for the revolts in the mid east.

    It gets down to the comment Marshal McLuhan made when I was in college, the media is the message. As desperately poor people in the mid east can see how others in the world are living they have had enough. No land, no jobs, no opportunity. The same thing happened  in Russia and East Germany in 1989. As people viewed VCR tapes and satellite feeds on how the rest of the world lived, they said, no more and revolted. I had a client return from the Soviet Union and predict the fall in 18 months, he was right. 

    Picture 8 How bad was it? Well East and West Germany had the same sort of people but vastly different products. West Germany had Audi Porsche Mercedes, East Germany had the

    Trabant

    click to read what central planning got the East Germans, this is your health care plan courtesy of the US Govt…..

  • Professor Elam

    Thursday March 3 2011

    I posted this under Announcements on the Home Page in Black board BB  for the intermed I and II classes but am repeating it here in case anyone has not logged on to BB. 

    I created another folder and added the answers to the end of chapter EOC questions for the Chapters we have covered and for that matter will cover!

    Let's Recap all the material Avaiable in the Spiceland Complex to help you review for an exam. 

    http://www.mhhe.com/spiceland6e

    This is the free website address. Here you will find a helpful power point on each chapter under the Student tab. There is also a multiple choice exam for each chapter. There is no excuse for anyone to have not viewed the power point and taken this free exam before an in class exam. 

    End of Chapter EOC and Black Board

    CASE SOLUTION    Each chapter begins with a series of questions on a photo backdrop. This is to spark your interest in the material. Read the solutions to their questions as well as where the larger explanation is located in the Chapter. 

    THE BOTTOM LINE Here the authors summarize the Learning Objectives LO of the Chapter. Can you express each LO in your own words?

    QUESTIONS FOR REVIEW OF KEY TOPICS This is a comprehensive list of questions that go in depth to clarify the LOs. The answers are now posted in a separate folder under content in BB. Attempt to answer the questions before you look at the answer. This is how learning happens! A rote  mindless scan of the answers is frankly of little help to you. 

    CPA CMA These m/c questions are located between the Exercises and Problems at EOC. Again I have posted the answers and explanations in a separate folder under content on BB. Again,attempt to answer all the questions before you look at the answer, otherwise you will not grasp what you failed to understand when you got an incorrect answer. 

    IN THE CHAPTER

    Concept Review Exercise

    There are numerous solved problems located in each chapter under the this heading. These usually appear at the end of Part A, B, or C, gee how thoughtful!  You will only master this material by 

    Covering up the answer

    Reading the question

    Attempting to work the problem, now here is the hard part, without looking at the Answer! Continue this process until you can work the Review problem without looking at the answer. Think about and try to visualize what a 'template' of the answer should look like. Once you can visualize what the answer should look like, you are on your way to mastering accounting solutions. 

    SCHAUMS

    I have referenced this fine outline and review containing hundreds of solved problems on the syllabus. You can put in schaums intermediate or principles in amazon and the books will come up.Frankly as cheap as they are I suggest you purchase Principles  I and II as well as Intermed I and II. The material may vary as to what you find where in intermed I and II but it is all there in both books. Again, highly recommended. This is also a McGraw Hill Publication. 

     

  • Professor Elam

    Thursday March 3 2011

    It's men I strip and flip, not companies

    Lynn Tilton

     

    Picture 2 Well there's a Reality Show that might have some merit!  Lynn Tilton who has gained fame and success turning around companies will or now has her own 'reality' show on the Sundance Channel. Click to take a look. 

  • Professor Elam

    Thursday March 3, 2011

    Here is a presntation from Sony's Annual Shareholder Meeting.  While it goes on and on about how many e mail and cell phone messages are whirling around the world, I would point out that 85% of mine consist of my wife reminding me what I have not done lately, moral, same old message, new format and delivery.

    Still Twitter has enabled market surveys as well as Revolutions, news indeed is traveling much faster than Paul Revere.

    Before there was an Apple, there was Sony. Sony like Apple had a high quality reputation and was known for innovative products like its Trinitron tv. It pioneered the idea of a portable music player but got left in the analog dust when the iPod came along. And Sony wandered off into the movie business losing lots of money. Right now Apple sits atop the tech innovation pyramid. I doubt anyone else will burst that bubble as long as the competition embraces a Windows approach. My Apple laptop starts up and shuts down in seconds. My school supplied Dell takes well over a minute to do either and constantly goes to sleep and half the time shuts down when I attempt to arouse it. I have switched to the Apple at work.

  • Professor Elam

    Tuesday March 1, 2011

    I am not able to access Blackboard for any announcements this morning so I am posting here, another reason to maintain a separate communication site. 

    We have spent a good deal of time reviewing in each of these classes.  I realize that we have students with varying academic backgrounds in accounting. I launched a review program that has taken most of the semester to remedy that as well as possible. This will only be successful if you re double your efforts at review. My sense last night in Intermed II is that many of you are completing the homework and understanding the material much better than you did a month ago. I am as always open to any and all constructive suggestions for class improvement.  I urge you this weekend to go back and re attempt the ten column worksheet from the pastina problem, you should discover that you are much better at the adjusting entries as well as the concept of income statement and balance sheet. 

    We need to have an exam in each class before spring break. I am thinking Wednesday March 9. 

    Intermediate I this will cover balance sheet and income statement. 

    Intermediate II this will be over Chapter 14 bonds and some of Chapter 15 on leases. So please read ahead and come to class tomorrow with relevant questions. 

    Jesse Trinidad  had a good idea in Intermed II last night about the CPA CMA questions. I will put those up separately on connect for both classes  in practice mode so one can access them multiple times. 

    I hope that my strategy for success in both classes is clear. We have dropped back so to speak and spent a good deal of time on reviewing the basics. We prepared worksheets and had four saturday review sessions.  It is now time to forge ahead, and we need to do so there is but a month and a half left after we come back from spring break. I do not want to schedule a test immediately after spring break but I do hope that you will use that time to read ahead and prepare for the remainder of the course. 

    I will also be reviewing the Schaums book for suggestions. Schaums as I have mentioned to you covers material in a much more concise manner than Spiceland.

     

  • Professor Elam

    Tuesday march 1, 2011

    I checked out Charlie Gasparino's book Bought and Paid for on how Wall Street owns this administration, as well as the last two others. Here Charlie explains why no one has gone to jail. As I have remarked in class, they all thought the government would bail them out as it had for Lehman previously as well as Long Term Capital Management. 

  • Professor Elam

    Sunday Feb 27 2011

    Caroline Kennedy kicks off the new Gemini Ink Series called Breakthrough Thinkers focusing on her upcoming anthology of women's poetry, She Walks in Beauty. 

    Class, note two important words form the above quote, thinker and anthology. 

    Now before I go any further, let me say that I believe Jackie Kennedy did a wonderful job raising her two kids, Caroline and John, to be someone other than what we have often  read about the rest of the Kennedy clan. Well behaved, sincere, and no bad manners, which is more than we can say for well, some of the others. But….this is the same Caroline that could not manage a two minute interview for a Senate nomination without dozens of 'ya-knows' hardly displaying a coherent thought. 

    But Caroline will headline an event at Trinity University. To wit with San Antonio's functional illiteracy rate hovering at 25%. Caroline is a perfect fit to begin the new series. The spotlight she shines on literacy is crucial. 

    Caroline describes the act of compiling his latest anthology as follows I dreaded it for months and was relieved when it was over and life seemed much the same as before.

    What, that is the experience of an, what, author?  Yep, Caroline is an AUTHOR!   Really I marveled, and so I logged on to Amazon.com to discover just what she has authored. 

    Well  surprise surprise, she has authored several anthologies. Now recall that an anthology is a collection of works written by other people. In short, the author does not write anything, the author compiles a laundry list. I did find a couple of books co-authored with another woman, which of course made me wonder why Author Caroline needed any assistance. Or hmmm perhaps the other gal figured the book would sell a lot better with Caroline's name in the lead, do you think that could happen?  These two legal books are the usual left wing mantra, the Bill of Rights is outdated, etc. 

    At any rate, the article in the Sunday Express News gushes of Author Kennedy. I guess the idea that she would become a US Senator following Ted Kennedy and the resulting embarassment over her inability to conduct an interview never happened. 

    I am all for women authors. But I expect them to be, well, authors. Compiling an anthology is not writing. Co-authoring so that we have no idea who contributed what is not exactly how Ann Coulter or Patricia Cornwell or Michelle Malkin  got where they are today either. 

    The kids of famous people have traded on their heritage for centuries, after all, that's the nature of Kings and Queens in Camelot. But this one is a bit much for me, if you or I put together our favorite poems, songs, photographs, all done by someone else, I doubt we would be hailed as the role model for literacy. 

     

  • Professor Elam

    Friday Evening Feb 25

     

    I will be in room 10 which is the ANNEX at 1450 Gillette Blvd
    at noon Sat Feb 26 for those that want to review any and all topics regarding Intermed accounting II
    Please arrive promptly at noon if you are intereted
    I teach Ethics in that Room from 9-11 50 AM
    Dennis Elam

     

  • Professor Elam

    Thursday February 24, 2011

     

    I am examining other textbooks for use in Intermediate I and II. I would like some student input. If some of you are interested in taking a  look, please let me know. 

  • Professor Elam

    thursday February 24, 2011

    ATT has a couple of accounting internships available. Please contact me to apply with your resume and a cover letter. Here is the description. Hmm, note Excel Skills a huge plus…..

     

    The duties include but not limited to:
    > *     Creating G/L journal entries
    > *     Reconciling account balances
    > *     Creating ad hoc reports
    > *     Handling intercompany accounting issues
    > *     Filing
    > *     Implementing control procedures
    > *     Assisting with affiliate billing issues

    > These duties would involve various software applications including
    > Microsoft Office (mostly Excel, Outlook, and Access), Oracle,
    > Blackline and various custom AT&T systems.  Excel skills are a huge
    > plus.