Professor Elam

Prof Elam & Mark Goldman CEO MGR discuss Accounting Certifications

Thursday April 16 2020

https://www.youtube.com/watch?v=vGKrLkBMVcM

CMA Scholarship

Weekend April 12 2020

TAMUSA can award ten CMA 'scholarships' per year.  Learn the details here

https://www.imanet.org/cma-certification/cma-scholarship?ssopc=1

We Professors have discussed this and have set the bar a bit higher to qualify.

We do not want to award the scholarship and have the student  fail to follow through and take the exam.

We would like to see the student

Pay the $39 student membership fee

Attend meetings

Participate on line for example take and pass the Data Analytics Cert which is nine hours.

A couple years back a student here won a TSCPA Scholarship. He or she filled out the intent to take the CPA exam but never followed through with the promise.

Later someone from TSCPA contacted me. My reply was that they should have asked for completion before granting the money.

 

IMA April 16 Meeting

Thursday April 9, 2020

San Antonio Chapter

If you have not already done so, please register now to attend the Thursday, April 16th web-only meeting at 6pm sponsored by Wenzel & Associates, CPAs!  Attendance will be the most of any chapter event in memory.

To help your budget, this meeting is offered completely free (even for NON members) - but you DO need to register at http://SanAntonio.IMAnet.org!

Our speakers will be Neal Juern of Juern Technology presenting "IT Lessons Learned So Far from Covid-19" and incoming President of the IMA Texas Council Tanya Thirlwall presenting "Cultivating a Bias-free Workplace."  There are no pre-requisites for these 2 hours of CPE and you are not required to need CPE in order to attend.

We will also briefly discuss IMA's new, 9 hour self study course - IMA Data Analytics & Visualization Fundamentals Certificate.  The course is FREE to members!  It's a great way to become conversant in a hot topic across industries! 

The chapter is putting together a group of folks who would like to hear a little bit of explanation on the topics from a power user as a supplement to the self study content.  If you are interested, contact the chapter at SanAntonioIMA@gmail.com.
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Sincerely,

 

- Mike

Mike Lovelace, MBA, CMA, CPA, CISA
VP of Membership, San Antonio Chapter of IMA

Your Career Path

Weekend April 5, 2020

This semester I created a blog post on TAMUSA Blackboard for each student in my classes. Iasked them to post a career plan linked to their graduation date.

With the break down of the economy, this is now more important than ever. Here are a few ideas on what might be included in your career path blog post.

And a note to those with kids and family at home. Passing a certified accounting exam will be the most difficult undertaking of your life. The pass rate is the lowest of any professional exam, 50%. Pharmacy by contrast has a pass rate around  90 %.

So all the family will be taking the exam so to speak. You will need to establish a 'quiet time' when you are undisturbed and can concentrate without interruption.  I am already receiving e mails from harried Moms who are trying to balance home schooling, work from home, and college all in the same time fram.   So plan ahead!

Professor Elam

Accounting 4311, 5308,5327

Your Career Path on Your Blog at BB

I thought this was a good idea at the start of the semester when I created the blogs for all. I observe too many students needlessly procrastinating on their actual career plans. Most are simply focused on finishing school without integrating the idea of a certification into their studies.

Already I suspect 10 million are out of work. 1750 (not a misprint) families showed up at Brook City Base this week when the Food Bank set up a distribution center.   Accountants are in demand when firms are making money. When nothing is being sold, demand for accountants shrinks. So your plan is all about how YOU are going to stand out to a potential employer. So here are a few ideas, and suggestions.

Your submission does not have to be lengthy but it should be tightly focused with a timeline.

Graduation Date, Under or Graduate

What jobs have you had which relate to accounting or independent decision making?

Have you achieved certifications in MSFT Office Software, Quik Books, Six Sigma, Data Analytics, or other digital application?

Were you involved in student organizations?

Did you author an original work or publish a paper with your professor in an academic journal (wow what a great idea!!!!!)

Have you created a website, weblog, twitter or other social media that reflects your interest in accounting or finance?

Are you a student member of an accounting organization. Given the social distancing right now everyone is meeting on line, see Professorelam blog for April 16 IMA meeting.

Are you considering an accounting certification?

CPA requires 150 Hours of college and four exams.

CMA CIA EA can be taken with an undergrad degree. I have links to all these on the Professorelam..typepad.com

CMA is two exams, CIA is three.   You have a designation after passing the first part of CIA.

CFE is another option and study at tome. I suspect it is easier than the others.

If so have you joined the organization, and picked your review materials, and begun studying simultaneous with your classes?

And you can examine the laundry list of other specialty certifications, again professorelam weblog, bank examiner, divorce cert (yes there is one!) for ideas.  

Explore the internet.

Here are 34 professional certs for accounting

https://accountantsaccelerator.com/34-professional-certifications-accounting-tax-audit/

Robert Half on certifications

https://www.roberthalf.com/blog/salaries-and-skills/finance-and-accounting-certifications-employers-want-to-see

In researching this here is an organization I did not know about San Antonio Association for Financial Professionals

https://www.sanantonioafp.org/

Elliott Wave

Friday April  3 2020

Uh no we are not....

 

Below is a perfect example of Elliott's five wave pattern  across multiple markets

Texas Student Debt

Monday March 30 2020

Here is the latest from the Texas Comptroller on student debt.

 

Note the phrases used

loan transparency

a limit of no more than first year salary

financial literacy

 

but nowhere do you see anyone tackling the real roblem fixed costs at Universities totally out of control

https://comptroller.texas.gov/economy/fiscal-notes/2020/mar/studentloan.php

CPA Scholarship

Tuesday March 24 2020

Link to Gleim

Monday March 23 2020

Here is the correct link to access Gleim Audit Questions

https://www.gleim.com/?promoID=PLED-TAMU-SA-SPR(20)-ACCT-4311

Take Out

Monday March 23 2020

A photo on page B 10 to this morning WSJ shows a restaurant fielding take out orders, saying

take out orders are the only ones allowed in restaurants in Racine, WI

Ditto here in San Antonio

It occurs to me this is what has happened to Universities, yep on line learning is a take out order for Higher Ed

Now my question, and I would really like to hear from you, has this changed the value perception of the University.  On line communication is slow, I have used Adobe Connect and now Webex, and it is hard to carry on a group discussion.

If students are facing potential short term job losses as waiters  and part time retail, how will that affect how their perception of how college dollars are spent. I have noted UTSA students already wonder about the million bucks for an out of work football coach.

Your take?

Check out TheMarket Perspesctive Blog

Weekend March 21 2020

http://www.themarketperspective.com

 

I am making numerous posts on this companion blog exclusively devoted to the markets. Please posts your comments and observations there.