Occupation of 370Z heads

birdmanx1 · 06-14-2011, 07:31 AM

Quote:

Originally Posted by m4a1mustang

I have degrees in Finance and Accounting... in Finance they teach you how to lose all the shareholders' money. In accounting they teach you how to cover it up.

Very well said. I have a degree in Computer Information Systems with Business Admin. I enjoyed both Finance & Accounting though finance was/still is higher up in my preference list. I was always amazed at how easy the accounting rules made it to distort the numbers whichever way one needed it to be for disclosure purposes. I used to work for one of the largest asset manager firm in the world interacting on a close basis with traders, research analysts & investment bankers (Many of whom not all had egos the size of Texas

). I personally thought that many needed to go back to school to rehash basic finance principles though coming from Ivy League schools. I ended up being right when the company was forced to disclose a $2,000,000,000 loss due to some poor bets in the midst of the crisis.

Some of the stuffs, I found from those guys's workstations hosted on the enterprise storage and backup replicated devices. They would even hide it under several nested folders and name it Mikey Mouse for instance thinking they were too smooth... It was unbelievable

hansoac · 06-14-2011, 07:37 AM

Quote:

Originally Posted by birdmanx1

Very well said. I have a degree in Computer Information Systems with Business Admin. I enjoyed both Finance & Accounting though finance was/still is higher up in my preference list. I was always amazed at how easy the accounting rules made it to distort the numbers whichever way one needed it to be for disclosure purposes. I used to work for one of the largest asset manager firm in the world interacting on a close basis with traders, research analysts & investment bankers (Many of whom not all had egos the size of Texas

). I personally thought that many needed to go back to school to rehash basic finance principles though coming from Ivy League schools. I ended up being right when the company was forced to disclose a $2,000,000,000 loss due to some poor bets in the midst of the crisis.

Some of the stuffs, I found from those guys's workstations hosted on the enterprise storage and backup replicated devices. They would even hide it under several nested folders and name it Mikey Mouse for instance thinking they were too smooth... It was unbelievable

Nice degree good sir

My company always publishes based on EBITDA.

birdmanx1 · 06-14-2011, 07:51 AM

Quote:

Originally Posted by hansoac

Nice degree good sir

My company always publishes based on EBITDA.

Thx sir, I am glad I did it as it is fully paying off now

Publishing based on EBITDA def helps reduce some of the tweaking with the actual numbers but many still find ways to play the system when backed into a corner