Gas Price Declining!!!!

Yes! Gas Price came down to what we were wating for so long!!!
I cannot believe that the gas price was very close to $3.00 2 month ago...
now it comes down to $2.20.
hmmm, nice.

U.S. gasoline prices dip to $2.20 a gallon - Yahoo! News

Integrity or Relationship

Although Enron's scandal was brought to the light more than 5 years ago, it is still very hot topic in the United States.
I was reading this article (Ex-Enron CEO Skilling faces sentencing - Yahoo! News) today, and thought hmmm, what if I am the one of the accountant to audit Enron's Financial report....

It is very hot topic as I metioned earlier, and this is a very good case study of ethics.
Arthur Andersen was the audit company for the Enron.
because of the Enron's scandal, the Arthur Andersen went to bunkrupt.
what if I'm the one in charge of Enron's audit....

I'm in between follow the rules and satisfy your company's major customer....

well, Arthur Andersen chose Enron's Satisfaction.
It was clearly wrong decision; however, I cannot brame the Arthur Andersen caz I can understand the pressure of it.

Maybe this is the reason why now most of the business major student must take some kind of ethics course(s).

Ultimately I should choose integrity. "Follow The Rule"
Business is competetion so there's always somebody watching one's behind....
well, perople put more weight on importance of honesty in normal life.
It is very natural that integrity is the most important factor for business.

Finance Class!!!

It’s middle of the week, Wednesday!!!

Today, I had a finance class.

What we did today is estimating risk rate of the equity, debt, and asset as well as discount rate by using weighted average method.

Anyway, finally I feel something I’m learning from this class. :P

It was a very good class actually. It was a very productive.

Even though I felt it was very productive and good class, some students didn’t feel same way.

Well, they always complaining about the class, and try to make the class as short as possible.

But you know what this is above 400’s class which means MAJOR CLASS!!!!!

Hello?

You guys are FINANCE MAJOR, and if you guys are so reluctant to take this class, then why did you choose FINANCE MAJOR!!!!

Come on! At least, show your enthusiasm for your major!!!

Sigh…..

They said, “I studied a lot to do assigned homework, projects……….”

Well, if you guys think that is studying, then you should change your way of thinking NOW!!!!

When you study by yourself, from yourself, for yourself, that’s called “STUDYING”

What you guys are doing is not studying, and it is just completing your tasks.

Those people tend to say, “I studied a lot, but I couldn’t do well on the test because the bitch (professor) gave me difficult question.

And you know what I have no idea what she is talking about during the class.”

Come on you guys!!!

Before you guys chitchatting during the class, concentrate, and try to understand.

Furthermore, Think!!!!

Tired…..

I didn’t even write about what I learned today…..

Maybe next time….

New Accounting Issue

Today, I heard new term called "Backdating" during my managerial accounting class.
What is backdating???
I had no idea.
At first, my prof. was talking about managerial rewards, such as cash compensation, stock-based compensation.
And then suddenly one student start asking about this "backdating."
anyway, I had no idea, so I wiki-ed (I created this. its definition is to search something on wikipedia).
the definition on the wikipedia is as follows
companies that back date their options select a date for the option that is often earlier than when the grant is made. This allows them to choose a date when the value of the option is more favorable to the employee receiving it. (Options backdating - Wikipedia, the free encyclopedia)
Simply, there are a few days which the employees can choose to get the stock.
Obviously, by doing this, employees can get the lowest price of the company stock.
Here is a problem....
Isn't it Insider trading??
since the employees has more internal information than other investers, it is very natural that the employees are able to get lower price than the other investers.
This event perfectly fits into one of the definition of insider trading. (http://en.wikipedia.org/wiki/Insider_trading)
Although it is not illegal, it's clearly unethical behavior of the company.

However, if I were the person who can get the stock option, then I would want to get it as cheap price as possible. :)

Currently, SEC is investigating about this, so let's see how they will comment.....

Supply and Demand

I was reading this yahoo news about "The Best B-School Of 2006." (The Best B-Schools Of 2006 - Yahoo! News)

It is quite an interesting article.
after dot-com vogue, many people went to B-Schools.
That lead to an excess supply in the market.

Economically, if there is excess supply, price goes down in order to match the demand.

In this case, however, the excess supply leads to a problem.

let's say, MBA grads is a product.
when customers want the product so badly, companies try to produce as many as they can sell even if they know there are defects in the product.
The demand decreases by shifting the demand curve to the left.
now the market has excess demand. Supply< Demand
Consumer needs to compete with others in order to get the product.
How?

Raising Price.

So, demand and supply relationship is applicable to Job market too.

AFTER ACCOUNTING TEST

Most of the time, I feel relieved after a test.

I assume that most people feel same way too.

I think that it is because people put so much effort for the test.

But it was not the case today for my accounting test….

I had 3 hours of test time, and couldn’t finish it.

I’ve never had a test that does not make me feel there is plenty of time….

Anyway, there were 6 big problems.

Balance sheet, Income statement, statement of cash flows……

Conceptual, little calculations……

I was not able to finish the statement of cash flows…..

The balance sheet didn’t balance…..

It was one of the most difficult test I've ever taken.

Tomorrow is Friday.

Monday, I have Economics test.

Wednesday, I have MIS test….

I am optimistic about these two tests because they won’t be more difficult than the accounting’s.

Anyway, there was a reward from the accounting test as well as from studying for the test.

Which is understanding FINANCIAL ACCOUNTING much much more clearly.

According to VIE theory, people need all VIE in order to be motivated.

E is Expectancy

V is Valence

I is Instrument

Expectancy is that people expect they can achieve it

Valence is what people want after they achieve it

Instrument is the means of achieving it

I had all three, so I was highly motivated.

Hope I can keep it.

Good night….

ACCOUNTING COMPUTER ASSIGNMENT

HEY, GUYS!

As I mentioned to you, I figure my accounting assignment out and finished its inputs section.

Well, my accounting professor is archaic guy, so make students to follow his way, such as include this exclude that kind of things as well as do this, don’t do that things.

 

Anyway, at least now I understand financial accounting more clearly.

 

By the way, I was doing this project until 2 something yesterday.

Sleeeeeeeeeeeepyyyyyyy, now…..

 

I still need to take tonight’s test, so to keep bit more concentration.

Good Luck me!!!

And

GOOD LUCK TO YOU TOO.

 

 

SUNNY

Stop Snowing.

 

And now Wind blowing, but looks very nice day!

 

But I have test…..

 

Sigh…..

 

 

SNOWING

It’s snowing right now outside…

 

Today’s date is October 12….

Yes, It’s still October.

Not even past Mid-October.

AND

 

It’s snowing very badly.

 

Opps, my ORG professor just came in.

 

See ya.

 

Finance Test

I just finished my finance midterm.

It wasn’t so hard.

Hope I didn’t make so many mistakes…

 

Tomorrow is accounting test.

I’m gonna take a break a little bit and study again…..

One more day!!!!

 

 

Accounting Computer Assignment

Sigh….

 

My accounting computer project is to prepare a statement of cash flow.

It is very simple.  I just need to think all the transaction affects cash inflows and outflows.

And the sum of cash inflows and outflow and cash beginning balance is must be equal to the cash ending balance.

 

That’s all I need to do.

 

But somehow, I cannot get the answer….

 

Tonight is Finance test….. I studied yesterday and guess that I will be ok with this test.

Tomorrow is Accounting test…… I don’t know if I can solve any problems or not…..

 

 

Hope I can figure it out by tomorrow…..

 

Good luck me.

GMAT

I started preparing my road to Grad School last week.

It’s not going to be so easy obviously, but I’m sure it will reward me as well.

Currently, I’m thinking of going to Ross business school (http://www.bus.umich.edu/) for the Macc. Program (Master of Accounting)

The Macc. Program is a 10 month program. thereafter, I will be qualified to take the CPA exam.

The Process to get into Grad school is generally as follows:

Research grad school and curriculum and request brochures from the grad schools

Then, fill in the application forms.

Write essay(s)

Take GMAT (Graduate Management Admissions Test) – here is the definition from wikipedia (http://en.wikipedia.org/wiki/GMAT)

Of course you need a certain amount of money $$$

And wait for approval….

This GMAT is the hardest part….

There are two major sections which are English and Math.

Math is just a junior high math, so it’s not that difficult. Although you still need to get accustomed to the test format.

English is difficult.

There are three sections

Sentence correction

Critical Reasoning

Reading comprehension

In order to get into good grad schools with a good reputation, applicants need GMAT score of 670 or above (the maximum score is 800)

How hard is it to get 670?

Well, you need to answer approximately 85% correctly.

Anyway, I’m studying this GMAT thingy as well as reinforcing my vocabulary.

So I don’t have time to write this as often as I used to.

Sorry guys….

But I will try as much as I can.

Raining

Haven’t been writing quite long time….

I guess everyone was worried about me, yes?

 

I’m ok.

What was I doing these a few days?

 

Well, I was too lazy to write my blog….

 

Sorry everyone….

 

Now, I’m back.

 

It’s been getting cold these days. Approximately 50 to 60 degree.

 

Leaves are changing colors.

It’s pretty beautiful.

Although it’s not as beautiful as Japanese one….

 

Today, it’s raining….

Another week starts…..