Wednesday, December 22, 2010
My thoughts on education
A thought just came to mind. WHy not have an education system based on practice. For example a student enters a business program and completes the first year in business school, where he learns basic business concepts, this knowledge can be applied and reinforced by practice in the field. Why not have a school that offers employment after the first year (unpaid internship or paid internship, the student can even work at school for the accounting dept!) of education based on the skills learned during that first year. Yes the education process might take longer, but the person would have work experience. As the years would go on and more skills are attained the student would take on more complex tasks. By the time he finishes his masters he'll be making a six figure salary based on the hands on experience he has. This would be a great education model!
Friday, June 18, 2010
News
The Tax breaks for buying homes has expired, ground breaking for new homes has gone down. Refinancing depended on the prices of U.S. homes to continue to increase, since that stopped refinancing has gone down. The 30 year mortgage rate is still a bargain at 4.7 percent coupled with the lowered home prices. A note: To energize sales due to the April 30 expiration of the $8,000 first homebuyers credit, developers are offering $8,000 in cash.
U.S.'s attempt to penalize Iran for its nuclear regime won't work oil experts and analysts say. The U.S. is trying to block the supply of oil to Iran, but due to the black market this won't happen. Iran consumes more Gasoline than it produces thus the need for importation. Sanctions on Gasoline imports will cause inflation and therefore government problems within Iran. Iran already has a 15-20% inflation rate.
U.S. Government officials are using their close links to legislation to profit. Although the investments are small and profits of around $300 are being made, this is still wrong. For example "Rep. Henry E. Brown sits on the highways and transit subcomittee of the house transporation and infrastructure committee. On Jan 23, 2009 thre days before the administration's economic-stimulus package was introduced on the house floor, Rep Brown bought shares of Caterpillar Inc."
NYU is planning its expansion by constructing a 38 story building with glass running from floor to ceiling, with the first 15 floors being a 240-room hotel which will cater to the visiting professors, other NYU guests, and the general population.
California is Subsidizing a network of 5000 charging stations for electric vehicles. Who'd want to get an electric vehicle, it takes 2-4 hours to charge. Positioning these gas stations near malls and restaurants seems promising.
U.S.'s attempt to penalize Iran for its nuclear regime won't work oil experts and analysts say. The U.S. is trying to block the supply of oil to Iran, but due to the black market this won't happen. Iran consumes more Gasoline than it produces thus the need for importation. Sanctions on Gasoline imports will cause inflation and therefore government problems within Iran. Iran already has a 15-20% inflation rate.
U.S. Government officials are using their close links to legislation to profit. Although the investments are small and profits of around $300 are being made, this is still wrong. For example "Rep. Henry E. Brown sits on the highways and transit subcomittee of the house transporation and infrastructure committee. On Jan 23, 2009 thre days before the administration's economic-stimulus package was introduced on the house floor, Rep Brown bought shares of Caterpillar Inc."
NYU is planning its expansion by constructing a 38 story building with glass running from floor to ceiling, with the first 15 floors being a 240-room hotel which will cater to the visiting professors, other NYU guests, and the general population.
California is Subsidizing a network of 5000 charging stations for electric vehicles. Who'd want to get an electric vehicle, it takes 2-4 hours to charge. Positioning these gas stations near malls and restaurants seems promising.
Thursday, June 17, 2010
News
According to the Wall Street Journal, companies are hoarding cash, and so are consumers. Savings rates are going up. Consumers are spending less. This goes well with the cyclical book I'm reading that says that this is the end of the baby boom generations spending. They spent ofcourse because they were in their prime, earning power was at their peak up until recently, now they have to save for retirement. This is why the economy isn't out of the woods for a long time to come. Loan origination has gone down and so companies are saving to provide for their future consumption. I'd short all of the comodities now especially oil, which is highly dependent on the boom cycle.
Copper is already on its way down due to the slowing of China's State Driven Stimulus Package which is somewhere near $1 Trillion. I don't know why anyone would invest in China. Expect a repeat of Japan in the 1990s. China is highly dependent on America and other foreign consumption. The economy is not sustainable and domestic driven. Expect it to tank.
Chinese workers are demanding higher pay, and getting it. Pay has been increasing by 10%-15%. Companies such as Coach and Ann Taylor are moving thier production to Vietnam and India where workers are paid $.49/hour, and $1.89 in India. The problem is that by moving their operations to these countries, means importing the textiles from China anyway which adds to cost. Bottom line expect higher prices.
Copper is already on its way down due to the slowing of China's State Driven Stimulus Package which is somewhere near $1 Trillion. I don't know why anyone would invest in China. Expect a repeat of Japan in the 1990s. China is highly dependent on America and other foreign consumption. The economy is not sustainable and domestic driven. Expect it to tank.
Chinese workers are demanding higher pay, and getting it. Pay has been increasing by 10%-15%. Companies such as Coach and Ann Taylor are moving thier production to Vietnam and India where workers are paid $.49/hour, and $1.89 in India. The problem is that by moving their operations to these countries, means importing the textiles from China anyway which adds to cost. Bottom line expect higher prices.
Saturday, February 6, 2010
Auditing
Did a couple of hours worth of studying today, what I learned about Auditing:
1. The Standard Report must have a title of "Independent Audit Report".
2. Without independence the auditor should disclaim his opinion of the audit report.
3. Explanatory Paragraphs are added after the opinion paragraph if there is no qualification of audit opinion, otherwise the paragraph would go before the opinion paragraph, for example if the client does not provide the cashflows (scope limitation) to auditor the auditor gives a qualified opinion and includes an "except for" paragraph before the opinion paragraph.
1. The Standard Report must have a title of "Independent Audit Report".
2. Without independence the auditor should disclaim his opinion of the audit report.
3. Explanatory Paragraphs are added after the opinion paragraph if there is no qualification of audit opinion, otherwise the paragraph would go before the opinion paragraph, for example if the client does not provide the cashflows (scope limitation) to auditor the auditor gives a qualified opinion and includes an "except for" paragraph before the opinion paragraph.
Subscribe to:
Comments (Atom)