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San Antonio Accounting Societies

Local Accounting Firms

  • BKD
    In the last few years several local firms have been acquired, like the Hnake group, by national firms such as BKD.
  • Grant Thornton San Antonio
    Grant Thornton is one of the large national firms occupying the size ladder below the Big Four.l
  • 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 (http://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.
  • Fisher Herbst and Kemble P. C.
    Bruce Howard who was on our Business Advisory Council was the Officer Manger for this firm.
  • 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.

Accounting Information

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TAMUSA Library

  • P2240002
    Learn about the accounting review mateirals!

Geo Politics

  • Foreign Affairs
    :Published by the Council on Foreign Relations
  • 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.

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San Antonio Ragtime Society

  • San Antonio Ragtimne Society
    This is an organization that sponsors the only annual Ragtime Festival in Texas. A TAMUSA student is an active member.

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San Antonio Ragtime Society

  • San Antonio Ragtimne Society
    This is an organization that sponsors the only annual Ragtime Festival in Texas. A TAMUSA student is an active member.

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« Links to Becker CPA Material | Main | Dell Still on the Ropes »

July 19, 2013

MSFT Takes $900 M Charge

Friday July 19 2013

The announcement by MSFT of earnings and a write off on its 'high profile Surface RT Tablet' (the WSJ description not mine) offers a good deal of insight on why we study accounting. 

E/S  Expectations were for 75 cents, actual versus  66 cents

I assume the R & d expenditures were capitalized once the Tablet came on the market. but MSFT hd to admit there is nothing there and so the impaired asset was written off.

Here is the CFO's comment. 

“We reduced the price of the Surface RT by $150 to $349 per device,” she explained. “As a result of this price change, as well as the inventory adjustments for related parts and accessories, we recorded a $900 million charge to our income statement.

Read more: http://www.itpro.co.uk/tablets/20229/surface-rt-900m-write-down-hits-microsofts-q4-hard#ixzz2ZUm2bEEL

And so the stock price dropped 6.3% in after hours trading. You see, the failure to hit an earnings estimate impacts the stock price. Frankly I was mystified as to why MSFT stock had risen to over $30, does anyone reading this blog own a Surface RT Tablet, better yet, has anybody even seen one in use, i have not. 

Or as Amy Hood CFO put it

'I want to be very clear. We know we have to do better particularly on mobile devices.

Yeah but when will that happen? MSFT dropped the price on the table by $150, from %500 to $350, a 30% price cut. Do you suppose there is any gross margin in that for MSFT?

 

Posted at 08:55 AM |

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