Professor Elam

Accounting & Investing Info for San Antonio A & M

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  • Professor Elam

    China Debt Bomb is Ticking

    Thursday Oct  28 2021

    At $27 Trillion, China has a lot of corporate debt.

    China has a massive amount of corporate debt. At $27 trillion, it boasts a debt-to-GDP ratio of 159%, almost 60% higher than the global rate and nearly twice that of the US, according to research published this month by S&P Global Ratings.

    “China’s growth has been largely driven by two contours: One is credit, and the other is carbon,” says Eunice Tan, one of the report’s lead authors and head of credit research for S&P Global Ratings’ Asia-Pacific region.

    Past financial crises are near always the result of too much debt, low interest rates, and then a collapse of the collateral supporting the debt issue.  That is exactly what is happening in China now.  Indeed this may be China's Lehman mooment.

  • Professor Elam

    IMA Career Day

    Thursday Oct 28, 2021

    Hello Dennis,

    I am writing you to remind you of our upcoming virtual Student Leadership Conference on November 5th. If you could share this information with your students and other faculty, that would be much appreciated.

    The “Welcome & Announcements” will begin at 11:00 AM ET. There will be two times during the event for the Virtual Career Expo to accommodate students across the US.

    Virtual career Expo Hours:

    -          9:00-10:45 AM ET

    -          5:20-6:00 PM ET

    This conference is free to IMA Student and Academic Members. If a student wants to attend and is not a member, they can attend the conference for just $25 and that will also include one year of IMA Student Membership.

    There is a cutoff for registration on November 4th at 3 PM ET, so your students will need to register soon, which they can do here.

    We are looking forward to a great event and can’t wait to see you there!

    Thanks,

    Tyler Skelton
    Business Development Manager
    IMA® (Institute of Management Accountants)

  • Professor Elam

    3D House Building

    Wed Oct  27 2021

    Click here for video

     

    Take a look at the video of how a 3 D printer builds a house from concrete, saves trees and labor

  • Professor Elam

    Another month, Another Ponzi Scheme

    Wed Oct 27 2021

    Larry Roberts has pleaded guilty in the Fractac Ponzi factoring scheme.

    Larry and father Earl embezzled $800,00 promising a  10T% annual return.  They continued to sell the scheme even after they ceased factoring invoices.

    Frauds occur during positive social mood which has driven stock markets to new highs.  Investors forget the if it sounds too good to be true, it probably is not maxim. Greed rules the day casting good judgement aside.

    Earl Roberts Sr., 77, launched Factac in 2000. Larry Roberts, 51, had joined the business by 2012.

    Around late 2016, Factac ceased factoring invoices and receivables in the volume necessary to support the returns promised to investors, according to Larry Roberts’ plea agreement.

    Nevertheless, the plea says, Larry Roberts assisted his father in continuing to market Factac to new investors.

    They told investors that Factac was still operating profitably and that it would pay 10 percent annual returns.

    SA Inc.: Get the best of business news sent directly to your inbox

    Multiple people invested with Factac from December 2016 through February 2018. But instead of using that money to factor invoices and receivables, the father-and-son team used the money to pay back previous investors and for personal expenses.

  • Professor Elam

    Directions to Ranger Creek

    Tuesday Oct 26 2021

    SA CPA tour Ranger Creek Thursday Oct 28 4 00 PM

     

    directions from campus

     
      1. Head north toward Jaguar Pkwy
    66 ft
     
    		 2. Turn right onto Jaguar Pkwy
    0.2 mi
     
    		 3. Turn left onto University Way
    1.0 mi
     
    		 4. Turn right onto I- 410 Access Rd/SW Loop 410
    0.1 mi
     
    		 5. Take the ramp on the left onto I-410 E
    15.6 mi
     
    		 6. Keep right to continue on I-410 N
    4.2 mi
     
    		 7. Take exit 166A toward Randolph Blvd/Thousand Oaks Dr/Starlight Terrace
    0.2 mi
     
    		 8. Merge onto I-35 Frontage Rd/NE Interstate 410 Loop
    0.3 mi
     
    		 9. Take the ramp on the left to Thousand Oaks Dr/Starlight Terrace
    0.6 mi
     
    		 10. Merge onto I-35 Frontage Rd
    0.6 mi
     
    		 11. Sharp left to stay on I-35 Frontage Rd
    0.4 mi
     
    		 12. Turn right onto Whirlwind Dr

    Destination will be on the left
    0.3 mi
      4834 Whirlwind Dr, San Antonio, TX 78217, USA

  • Professor Elam

    Saturday Nov 13 2021 That’ll Be the Day

    Weekend Oct 23 2021

    Can you offer this community service event to other students? Family and friends over 14 years old is welcomed to volunteer. 
     
     
    Community Service Event Details:
    Event: Landscaping with Habitat for Humanity 
    San Antonio Volunteers: IMA San Antonio & TXCPA-San Antonio Business & Industry Committee Target 
    Date: Saturday, November 13,2021 
    Time: 7:45AM to 12PM 
    Food: Breakfast & Lunch will be provided 
    Location: 13801 Watson Rd. San Antonio

     
     

    Lacee Stratemann

    VP of Professional Education

    IMA, San Antonio Chapter

     
     

  • Professor Elam

    Wiley Career Ready November 11

    Friday Oct 22 2021

    Plan to join Wiley for their career Ready seminar November 11 2021

  • Professor Elam

    Data Analytic Class, Register Today

    Friday Oct 22, 2021

    As I mentioned in class, datacamp.com is a website that teaches data analytics in several platforms.  They have courses available in Introduction to Power B.I., and Tableau.  

    Power B.I.: https://app.datacamp.com/learn/courses/introduction-to-power-bi

     
    Subscriptions are currently on sale for $149/year.  I believe the sale ends tomorrow (10/22/2021) at 7:30p.m. CST.  They regularly offer discounted rates, but their undiscounted price is stated as $399/year.  
     

  • Professor Elam

    Gleim Campus Rep

    Wed Oct 20 2021

    Screen Shot 2021-10-20 at 1.03.24 PM

  • Professor Elam

    PwC and Evergrande

    Wed oct 20 2021

    from Going Concern

    Hong Kong audit watchdog investigating Evergrande and PwC [Reuters] Hong Kong’s audit regulator said on Friday it was investigating China Evergrande Group’s 2020 accounts and their audit by PwC because it had concerns about the adequacy of reporting on whether it could continue operating as a going concern. Cash-strapped Evergrande has been scrambling to divest some assets to repay creditors knocking on its doors. With more than $300 billion in liabilities, it has already missed three rounds of interest payments on its international bonds.

    Evergrande crisis puts PwC role in spotlight [Financial Times] More on the Evergrande situtation: “Evergrande’s auditors — which have earned Rmb271m ($42m) since 2009 — signed off on the figures presented to them by management for years. And just like its peers who audited those UK companies, PwC may well face criticism over the level of challenge applied against management over accounting policies that could have shown warning signs about the company’s financial health. PwC has declined to comment on its audits of Evergrande as it is a live client engagement.”