Padgett Stratemann is now RMS As San Antonio becomes a bigger player in Texas Business, more national firms are entering this market. A national firm does not start from zero. RMS (https://rsmus.com/) purchased Padgett. This gives the buyer a large client base to start with. Typically the local partners have made a handsome profit on their time at the firm. But seeking to recoup the investment, the buyer typically raises fees knowing some business will be lost. RMS has re located from North Loop 410 to 1604 and 281. Renee Foshee, a tax expert with the firm, is the current SA CPA Society President.
Turner Cleveland PC Terry Cleveland has addressed our students. Two of our graduates are employed with at this firm.
weaver CPA Weaver is one of the largest Texas based Accounting Firms.
Hill and Ford CPAs Kim Ford has addressed our students. She has expanded her practice from tax and write up to forensic investigation and court testimony.
Ridout Barrett CPAs Tony Ridout has visited and addressed our students many times. We have placed graduates with Ridout for several years.
Financial Consulting Firms
Aventine Hill Partners, Inc. Beth Hair CEO founded Aventine in San Antonio in 2009. The firm now has offices in Dallas, Austin, San Antonio, and Houston. She formerly was with RGP.
Resource Global Professionals Susan Hough has been to campus and spoken to our students. She is the San Antonio Manager of RGP. RGP and Aventine are not CPA firms. Instead they offer contract specialists for firms needing specific tasks such as compliance or Controllerships.
Acounting Today This is an independent site for accounting news regarding firms and current issues.
Certified Information Systems Auditor CISA Now that everything is literally on the computer and cyber security becomes a prominent issue, I see more and more accounting professionals with this designation. Previously known as the Information Systems and Audit Control Association, it now goes by the acronym ISACA.
Institute for the Study of War The Institute for the Study of War advances an informed understanding of military affairs through reliable research, trusted analysis, and innovative education. We are committed to improving the nation’s ability to execute military operations and respond to emerging threats in order to achieve U.S. strategic objectives. ISW is a non-partisan, non-profit, public policy research organization.
Stratfor This Austin, TX based site was begun by an ex Texas State Professor.
In fact while Eastwood is popular with his fans, he is really popular with his studio. Only one film failed to make money.He always comes in on time and on budget. Every Which Way but Loose at the time was the second biggest grossing movie Universal had after Jaws. Themovie co starred an orangutang.
The new revenue recognition guidance has created new challenges for many companies with diversified service offerings.
One of the most significant challenges has been determining how to group promised goods and services into performance obligations. This determination can be highly subjective and complex and the conclusions reached can have a significant impact on how revenue is recognized. Because significant judgment is required, a thorough analysis should be performed and all considerations should be well documented.
The complexity around how to bundle or un-bundle promises into performance obligations includes determining at what point the customer can benefit from the services provided. For example, certain pre-production services may be performed before goods or services can be transferred to the customer. These pre-production services generally should not be considered a performance obligation as they don’t provide value to the customer on their own.
Additional complexity includes determining if a good or service is separate within the terms of the customer agreement. This assessment can result in seemingly similar transactions being accounted for differently within the same company. For example, product sales and labor services are typically two separate performance obligations; however if the customer agreement is for auto-repairs, the products and labor would likely be combined into a single performance obligation.
The identification of performance obligations is critical to properly applying the new revenue recognition guidance. The assessment may be time-consuming and may require significant judgment; however, if the assessment is not done correctly, revenue could be recognized improperly.
Bob Prechter began formalizing about socionomics in 1985 to explain human valuations on everything from music to movies to art to stocks. Today’s WSJ offers an interesting way to explain socionomics to the novice and I will do just that in class.
Pages B1 and B2 relate that Sergio Marchionne is suddenly out of the picture due to an undisclosed medical problem. He dismissed Luca Cordero di Montezemolo over whether to take Ferrari public and to ramp up annual production from 7,000 to 10,00. Production is now 8.400 which is a rounding error for any of the international firms. By the way,Sergio is a Chartered Public Accountant in Canada, the Equivalent of out CPA.
But here it gets interesting. FCAU Fiat Chrysler has a market cap of 29 billion. Ferrari RACE has a market cap of 25 billion, almost as high as Fiat but for selling a smidgeon of autos. Yes RACE has a profit margin of 25% while all other makers sink in the single digits. The reason is hat RACE has a fantastic marketing effort selling ball caps for sky high prices and the cars themselves are so rare, think expensive watches, that they are rolling art objects. Vintage Ferraris have all set record prices the last few years with the 1963 GTO expected to go to $100 M.
Meanwhile on page A 9 Christie’sSales Soar in strong Art Market
A Matisse sells for $80 M and a Picasso for $115 million. Soaring markets have raised expectations for real estate and art and rare autos around the world. And that is an expression of mood which as Bob says is really the only way to explain such valuations. With your interest in art I thought you might find this analogy interesting.
Tesla has been burning through cash at a rate of about $1bn a quarter, or more than $7,430 every minute, according to data compiled by Bloomberg, and finished the first quarter with $2.7bn in cash on hand.
My students tell me TESLA is a can't miss deal based on Elon Musk success in space. I contend the two are totally different exercises. TSLA has depended on debt, govt subsidies and wild valuations, TSLA is worth more than Ford!. The jury is still out on whether TSLA is the next KIA or hDeLorean DMC. One would think Musk would sell more stock given the rich valuation. The company is losing $13.97 per share.
Retail is all about detail, check out this comparison.
The capital investment at Best Buy and Kohl's is paying off. JCP is still struggling investing half what Kohl's has spent.
JCP is still reeling from its Ron Johnson disaster. Johnson from Apple tried to change all the JCP stores at once a classic recipe for failure. A test market of a few stores would have shown that would not work.
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Please let me know if you or any of your members have questions or concerns about this offer. I can be reached via email firstname.lastname@example.org or by phone at 1-800-874-5346 ext 428.