• Professor Elam

    Thursday Sept 29, 2022

    Contact me about this and do so quickly, I imagine there are lots of accounting students in SA who would like to do this.

    Must be able to work full-time (M-F, 8-5)

    ·        Support and assist with audit work to gain exposure and understanding of all facets of public accounting environment

    ·        Work directly with both managers and partners to have comprehensive experience

    ·        Client contact to learn communication skills

    ·        Some travel possible

    ·        Intention of internship is to identify suitable candidates for full time employment

    ·        Must have taken Intermediate I and II

  • Professor Elam

    Thursday Sept 29 2022

    Individuals using cell phones for compnay communications brought big fines from the SEC.

    On Tuesday, two U.S. regulators announced $1.8 billion in penalties to be paid by financial institutions including Goldman Sachs (GS), Bank of America (BAC), and Morgan Stanley (MS) over staff usage of personal devices to discuss work-related matters, a violation of recordkeeping provisions of federal securities laws.

    "From January 2018 through September 2021, the firms’ employees routinely communicated about business matters using text messaging applications on their personal devices," SEC Chair Gary Gensler said in a statement. "The firms did not maintain or preserve the substantial majority of these off-channel communications, in violation of the federal securities laws."

    The Securities and Exchange Commission’s (SEC) penalty totaled $1.1 billion across 15 broker-dealers: Barclays Capital (BCS), Bank of America, Citigroup (C), Credit Suisse (CS), Deutsche Bank, Goldman Sachs, Morgan Stanley, UBS Securities, Jefferies, Nomura Securities, and Cantor Fitzgerald. The Commodity Futures Trading Commission (CFTC) charged 11 institutions a collective $710 million fine.

    _____________________

    Where are the internal auditors and managers when all this is going on?

  • Professor Elam

    Wed Sept 28 2022

    Here is a reply to one of our students about membership and scholarship in SA TXCPA

    You should definitely consider joining the Texas Society of CPAs as a student member! Not only are there TXCPA statewide scholarships, but the San Antonio Chapter also offers up to five per year; the application process opens in January 2023 for the Fall 2023-Spring 2024 academic year. Our scholarships are not based solely on GPA – we look at employment, activity in the Chapter and a one-page essay describing why each applicant wants to become a CPA (this one is very important!).

     

    To establish your student membership, please go to https://www.tx.cpa/resources/become-a-cpa/become-a-student-member and set up your account in order to activate your free membership. Then, let us know what interests you from the list of options at https://www.tx.cpa/sanantonio/membership/get-involved. We’ll add you to the e-mail distribution list and you will begin receiving notifications of upcoming events, committee meetings etc.

     

    Let me know if you have any questions. Looking forward to meeting you!

     

     

     

     

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     Amanda Burrus Talaat

    Assistant Executive Director

     

      TXCPA San Antonio

      Direct: 210-828-2722

      Toll Free: 888-828-8680

      amanda@txcpasa.cpa

        www.tx.cpa/sanantonio

     

     

     

  • Professor Elam

    Tuesday Sept 27 2022

    three men inflated the value of a deli to $100 M.

    Where else could a fraud like that happen but New Jersey, well Ok how about Florida.

     

  • Professor Elam

    Monday Sept  26 2022

    Thank you for helping to get the word out on your campus about our Accounting Careers Workshop, which took place last Friday evening – live and in person for the first time since 2019!

     

    A total of 70 students signed in – we may have missed a few – which was more than either 2020 or 2021, when we offered the Workshop remotely throughout the state. So that’s saying something! Your students were energized, professional and engaged the whole time. Feedback we received was very positive and encouraging.

     

    Chapter Membership, Marketing and Programs Manager Javi Valdes put together a short video to give you some idea of how the program went; you might see someone you know: https://youtu.be/lbcOHSnsAZs

     

    Here’s a breakdown of attendance by campus (several students did not indicate their university):

     

    UTSA – 43

    TAMUSA – 8

    OLLU – 4

    TAMIU – 3

    UIW – 3

    NELC – 2

    PAC – 2

    TX St – 1

  • Professor Elam

    Monday Sept 216 2022

    he Accounting Education Foundation of the Texas Society of CPAs is pleased to announce that we are accepting scholarship applications for the 2022-23 academic year.  Last year, the Foundation awarded $129,500 in scholarships to students intending to earn the CPA credential in Texas.  This year the Foundation has planned to award 5 additional scholarships of $1,000 each to community college students.  Your school is allowed a maximum of two applications.  We ask that you follow these steps in connection with this scholarship program:

     

    1. Distribute the application link: https://txcpa.secure-platform.com:443/a to the two students eligible to apply for the scholarship.  Students must complete and submit the application online.

     

    1. Prior to the deadline, a list of applicants from your university will be sent and the department chair will be asked to confirm the nominations.

     

    1. Applicants must submit electronically a current transcript during the application process. The selection committee will not consider an application unless a transcript has been received.  If the applicant has attended more than one university, the cumulative college transcript should show grades and credit received from all previous schools.  If the transcript does not show a previous record, then a separate transcript (or transcripts) will be required.

     

    1. Applicants must submit evidence that an Application of Intent to take the CPA Exam has been filed with the Texas State Board of Public Accountancy.  The verification emailed received from the Board can be uploaded during the application process.

               

    The deadline for receiving applications and all supporting documents is Friday, October 21, 2022.  Awards will be made during the fall semester and will be sent to the school for disbursement to the student.  We appreciate your efforts in making this scholarship program a success and look forward to receiving applications from your students.

     

    Please note, incomplete or late applications will not be considered. 

     

    Stephanie King

    TXCPA Accounting Education Foundation

    sking@tx.cpa

    972-687-8533

     

    AEF Scholarship Requirements

     

    To be considered for an Accounting Education Foundation scholarship, a student must:

     

    • Attend an eligible college or university in Texas or be enrolled in an accounting program at a community college in Texas that has been awarded the designation to offer Qualifying Education Credit for CPA Examination by the Texas State Board of Public Accountancy.

     

    • Be nominated by the chairperson (or their chosen designee) of the school currently attended.

     

    • Be an accounting major with the intent of becoming a Texas Certified Public Accountant and entering the accounting profession upon graduation. The student is expected to be enrolled as a full-time college student (at least 12 semester hours each semester for undergraduate students/at least 9 semester credit hours each semester for graduate students). A student enrolled in an approved community college program is expected to be enrolled in at least 9 semester credit hours.

     

    • Have satisfactorily completed at least 110 semester credit hours of college-level courses by August 31, 2022 and graduate no earlier than spring 2023.

     

    • Have completed 21 semester credit hours of accounting courses required of accounting majors by August 31, 2022.

     

    • Have an Accounting GPA of 3.6 or more on a 4.0 scale.

     

    • File an Application of Intent to sit for the CPA Exam with the Texas State Board of Public Accountancy. Applicants must submit evidence that an Application of Intent to take the CPA Exam has been filed with the Texas State Board of Public Accountancy. 

     

    • Be a Student Member of the Texas Society of CPAs (TXCPA) or have submitted a new Student Member application. (There is no charge for student membership – Become a Member | TXCPA)

    Stephanie King

    Accounting Manager

    Texas Society of CPAs

     

    972-687-8533 or 800-428-0272, ext. 8533

    Mobile 972-523-2043

     

     

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  • Professor Elam

    Monday Sept 26 2022

  • Professor Elam

    Thursday Sept 22 2022

    Leonard Glen Francis was apprehended by Venezuela Interpol

    Screen Shot 2022-09-22 at 10.57.55 AM

    He was convicted of bribing Navy Officials to obtain various classified information. He was under house arrest and due to report to prison. So he cut off his electronic monitor and fled the country. I imagine he will be staying in prison a good while longer

  • Professor Elam

  • Professor Elam

    Thursday Sept 22 2022

    An alert student sent me this link on Nate Paul , as one real estate professional commented, a rising star or a shooting star?

    The story reminds me of another boy wonder Barry Minkow, now a twice jailed fraudster.

     

    If you have Amazon Prime, you can watch Barry play himself in the film Con Man!