capital budgets

Y'all this whole Fyre Festival is hilarious because I’d kill to spend a weekend camping out at a beach in the Bahamas like that’s a dream vacation to me. Obviously I wouldn’t pay 12k to do that, but yet again I wouldn’t pay 12k to do ANYTHING like that’s a years rent or a pretty nice used car. But it makes me laugh that someone would be willing to pay that and then some to go camping at a beach. Sure they expected A LOT more and were promised more of an all inclusive luxury beach resort experience, but in the end it was basically the same concept with a lot of needlessly excessive add-ons. It really just goes to show that the value of something is subject to the individual who desires it. Anyway be smart about your money y'all, just cause you have it doesn’t mean you need to spend it.

anonymous asked:

Yo, I have a co-worker who never says anything racist, but every opportunity he gets, he mentions that his wife is black. We know she's black, Dave. Everyone knows already. You told us. We've met her. She's a lovely woman. We like her better than we like you. Her being black, though, has nothing to do with how much snow we are going to get tomorrow, or NASA's Mars mission, or our capital budget for 2016. Jeez.

Aw jeez.

4 Reasons Fantastic 4 >>>> Your Fave

I’m assuming everyone has heard about the ways in which the Fantastic Four movie fails. I agree that the movie feels messy and lacks focus. In its genre, next to bigger, slicker, funnier movies like The Avengers, it seems shrimpy and lacking. This is not a perfect movie. It squanders a lot of its promise, not capitalizing on big budget visuals and special effects. The most interesting effect (the high-tech interdimensional travel) is revealed within the first half-hour and is repeated ad infinitum throughout the movie. But I want to stand for this movie, because in many ways, it’s the most progressive film of the summer, certainly the most progressive in the genre of big budget superhero flicks.

So here are 4 Reasons to see the Fantastic Four:

1) Queerness: From the Ben/Reed dynamic to the literal transformation the characters undergo, this movie is all about queerness. It’s about the radical. It’s the art of finding your humanity in the face of your own monstrosity. This movie gets at the ugliness a lot of queer people feel when they’re just discovering their own deviation from the norm. A group of fit, attractive, beautiful people are inexplicably transfigured into something inhuman. They are then weaponized. This narrative around who is and is not human, what is and is not life, is at the heart of this movie. I’ve already talked about the Ben/Reed dynamic at length, but I’ll reiterate by saying: Ben is madly in love with his best friend. It’s the way he looks at Reed when they’re boys and it matures into something a lot like heartbreak when he sends Reed away to fulfill their dreams. Their reunion is terrifying and their dissolution is shattering. Their friendship is glorious and hella queer. I wrote about it here: http://jealousxo.tumblr.com/post/126271199071/fantastic-4-as-the-queer-movie-of-2015

2) Sue Storm: Susan Motherfucking Storm gets to be a whole person. Or rather, she gets to focus on her work, being a bad ass scientist. She is briefly batted about as a love interest, but she settles on neither Reed nor Victor. She is shy, aloof, a little awkward. But she isn’t quite Manic Pixie Dream Girl. Her work centers on pattern recognition, and this becomes an actual character treat, even manifesting in her love of music. She is a little somber, because she has to be. She’s an orphan adopted from Kosovo, and she’s had a hard life, but she knows she’s also been blessed. LIKE, WHEN WAS THE LAST TIME A WOMAN IN A SUPERHERO FILM WAS ALLOWED TO BLOSSOM AS A COMPETENT HUMAN BEING THAT DIDN’T INVOLVE MURDER. Sue shows us a different kind of strength, a different way to be the sole woman in a family of men. 

3) Humane blackness: This movie provided us with a clear and believable portrait of a brilliant black man trying to raise two brilliant but very different kids. Johnny Storm is a hothead, smart but torn between living his life on his own terms and living his life on the terms his father set out for him. Their dynamic is so seldom one we get to see played out on the big screen: black men with compelling desires that don’t involve sports, gangs, or butlers. Was the dynamic anything new? Franklin’s conflict over completing the project that he knows will lead to destruction of another world just for a chance to maybe fix his kids was palpable. Johnny’s anger at his father and eventual resolution with his family was good to see. Name another movie where two black men were central characters and got to be full, rounded human beings. I’ll wait.

4) Dr.Doom the anti-colonial: Once Victor got stuck in the other dimension, he became one with it, in many ways appropriating a childish interpretation of the way Native Americans lived. What else were we to take of the sole dark figure walking across an empty plain as green energy pulsed and radiated all around. But he allowed himself to be carried back in order to enact his revenge. Yes, on some levels, his vengeance was about being left behind, but certainly Victor had been against the acquisition of resources from the other world to save Earth. In this way, the narrative was strictly anti-colonial, right? The people of Earth (white pointy faced man) wanted to take the resources from the other world and to weaponize the humans transformed by that world–Victor wanted them to leave his world in peace and set about ensuring that peace with lots of destruction. I think the movie was aiming for a morally ambiguous battle. They wanted us to say, yeah, don’t take that world’s energy to save our own, but also don’t destroy Earth. I don’t think they executed this theme well, but I do love that they at least touched on the theme of colonialism. It’s a conversation worth having, and I don’t think enough people are discussing this really important issue. Dr. Doom says at one point, “It’s too late. The Earth is dying.” And here they are trying to repeat the same cycle with a world that has literally kept Dr. Doom alive by infusing him with its energy–Dr. Doom is that world’s avatar, it’s protector. Imagine if the Native Americans had been able to conjure up an extra dimensional gate in order to protect themselves. Also, hello, the slave narrative? The government tried to turn the Fantastic Four + Doom into slaves?

So there are you have it. Four ways I think the movie succeeds that sets it apart from other superhero movies.

OCTOBER 2014 CPA BOARD EXAMINATIONS: THE SUMMARY

Hello to all members of Tumblraccountants!

Like what other admins Kharla and Cedric did in the October 2013 and July 2014 board exams, I who took the CPA board exam last October 2014 will share to you my insights and previews about the exam. Para ito sa mga susunod na mga mageexam na gusting malaman kung ano ang mga nagaganap sa actual board examinations. Mahaba haba ito, so sana di kayo tamarin magbasa. :)

(Disclaimer: It might be different from what will be given in the next board exams tentatively to be held on May 2015. And it is my own observation, it might have different interpretations from others who took it. Also, I cannot post the complete actual questions, as I signed a non-disclosure agreement to the PRC not divulging the content of the exams, still it is an overview. I did this post hours after each day of the CPA board examinations.)

DAY 1

THEORY OF ACCOUNTS: Sabi ng ibang ka-dorm ko, galing sa ReSA preweek saka handouts yun karamihan mga tanong, consistent sa trend noong last July 2014 exams. (Taga CPAR ako kaya di ko masyadong nabasa yun sa ReSA, huhu.) Pero, I felt na sa TOA, labanan lang tlaga ng concepts. So I suggest na sapat na yun materials sa review center niyo. Mas marami pa rin kayo matatandaan kung makikinig kayo sa reviewer niyo. Maraming lumabas about the framework, financial instruments, shareholders equity, mga ilang tanong rin yun about sa EPS, preference shares saka retained earnings. May lumabas rin about service concessions (IFRIC 13) na noong preweek at actual board exam ko lang nalaman, so aside from review materials, try to read the standards and interpretations themselves kahit yun summarized lang. May konting government accounting pero ang simple lang. At walang employee benefits sa board exam ngayon.

AUDITING THEORY: Also known as “Auditing Theory and ENGLISH 1”. Paano ba naman, the Auditing Theory grammar questions introduced last July are again in this board exam. Limang tanong na proper use ng capitalization, pronouns, apostrophe saka paggamit ng active and passive voice ang lumabas. May tanong pa nga na yun other three choices are JEJEMON TEXTS. (That “K b der, 9am @ ofc, thx” choice for example.), na kung tutuusin ay bonus questions. Back to the main subject, maraming IT audit at audit sampling questions na lumabas. The rest are usual questions about audit reports and substantive procedures. For the reference, most of the questions reportedly came from Wiley. But, I think yung Salosagcol + CRC-ACE handouts sapat na rin sakin. So again, it’s all about concepts. Another tip: choose both the BEST and CORRECT answer. May tanong kasi doon na anong opinion ang ibibigay kapag may material misstatement ang FS. Di ba qualified or adverse opinion ang sagot depending on pervasiveness? Pero napilitan akong isagot ang qualified only kasi yun isa sa choices, “qualified and ADVISE opinion”. Kasi it may be the best answer, but NOT the correct one, kasi may error sa choice. Pwede kang magassume na typo error siya pero sabi nga “never assume unless otherwise stated”. Always think that your exam is correct, so if there are errors in the exams, choose the next best alternative, or if a worse error, call the attention of the watcher.

DAY 2

MANAGEMENT SERVICES: For me, it is one of the easiest examination in this board examination, pero DON’T be complacent because marami ring tricky questions doon. Maraming lumabas about financial statement analysis especially related to equity (EPS, dividend payout and yield, P/E ratio). May capital budgeting rin, pero ingat sa net annual cash inflows. Net income ang given, iba yun sa cash flow ah, dahil pag di mo naadd yun depreciation, damay damay yun NPV, payback period at simple rate of return mo. May budgeting rin: may computation ng budgeted production, at may collections from quarterly sales. May isang contested situational problem rin doon, about sa feasibility study budget proposal. Bumalik rin yun cost concepts, which some are theories. There were more problems this time compared to last July, albeit theories still dominated the exams. Lastly, there is one only question about economic concepts, about demand and supply. As for the reference, MAS Theories are reportedly lifted from Cabrera while the problems, CPAR handouts would be enough. May grammar question rin pala ang MAS, proper capitalization, kaya dapat talagang title nun “Management Services and ENGLISH 2”

PRACTICAL ACCOUNTING 1: Also known as “AUDITING PROBLEMS PART 1”. Bakit? Around 5 situational problems with five questions each ba naman ang binigay sa board exams. Di ba madalas pag P1, one-situation, one-problem lang, or at most dalawa? In short, mala AP talaga ang level ng questions sa P1. Actually pinaclarify ni Sir Valix of CPAR yun mga questions na iyon. Anyway, most of them are about cash flow statement, financial statement presentation, accrual to cash basis (not cash to accrual, kasi cash basis net income ang tinanong), inventory at accounts receivable. Wala dun yun “favorite topics” dun like employee benefits, at simple ang leases doon (as in operating lease lang). Another tip, tignan muna ang required bago yun situational problem. Bakit? May isang tanong dun na sobrang haba, almost one page yun may investment in equity securities + investment in associate + trademark + patent… tapos pagbuklat ko ng next page ang tanong lang pala simpleng dividend revenue. Badtrip di ba? Nasayang tuloy oras ko noon kakabasa. Lastly, don’t be careless in reading, may time kasi na computable lahat ng choice pero dahil sa isang additional information lang, nababago ang mga sagot. Ayun, kung next board exam ganun ang trend, after reviewing P1 handouts in your review center, isunod agad ang AP kasi magkarelate talaga sila. I would still recommend Valix books, dahil masasabi mo sa libro na yun na: “nasayo na ang lahat~” pero if gusto niyo ng AP level P1 questions, try Empleo’s FA books.

DAY 3

AUDITING PROBLEMS: “…PART 2”. One of the problems (about cash recieipts, disbursements and shortages) are very familiar with me dahil inexam ko siya dati noog undergrad ako, with the same amounts. That was lifted from the reviewer of Ocampo. (So may sure 5 points na ako. Hihi.) Pero beware, pwedeng baguhin yun tanong, so wag magkabisado ng sagot. For example, sa problem na yun, may lalabas na sagot if gross profit on cost ginamit mo at may lalabas rin pag gross profit on sales ginamit mo. So, INGAT, kasi pag nagkamali ka ng gamit, domino effect yun sa ibang related questions. Sabi naman ng isa kong classmate, may kinuha raw kay Roque. So, I would really suggest, like what I did in the review, that reading both of them are effective.  May lumabas na problems about shareholders’ equity (mainly issuance of shares), revenue cut off tests, and collections and payments. May isa lang na problem na medyo nanibago ako, about investment in joint venture and operations, kung paano mo hahatiin yun assets, liabilities and equity between sa mga venturers. Lastly, may THEORIES ulit ang auditing problems, like last October 2013 board exams. Mga walo or siyam yata. Related naman ito sa substantive procedures to be taken sa different transactions like in payables and receivables, at saka sa subsequent events. WALANG PROOF OF CASH. Kaya compared raw sa July 2014, mas madali ang AP ngayon.

PRACTICAL ACCOUNTING 2: Also known as “AUDITING PROBLEMS PART 3” dahil may 4 situational problems ulit with 5 questions each. It is this board examination’s KILLER SUBJECT. It was the subject that made me cry after finishing it dahil sobrang hirap niya, at paguwi ko sa dorm binalibag ko sa sahig yun mga materials ko sa P2 sa inis. :( May isang tanong doon about business combination na aakalain mo na 3-step acquisition siya dahil akala mo magkakapangalan sila. (I am talking about Kitty Kat, Kit Kat and Kitty Kit, I know makakarelate yun iba dito). Yun pala, tatlong companies pala ang nagacquire sa iisang company. (Yun dalawa ay investment in associate, at yun isa doon subsidiary) May lumabas ulit na about joint operations or assets yata about sa yachts na akala ko hindi pagtutuunan ng pansin: this time, pinacompute sa amin yun revenue, net income at share sa kada venturer. Naiinis talaga ako kasi sobrang gulo kung ilang araw talaga yun sail-days nila, pati yun costing nila. May isang problem naman doon about partnership operations na feeling alam ng marami ang gagawin pero nakakainis kasi sobrang haba ng kailangang solution dahil dalawang taon + ang hatian pa nila average capital balances + nag-admit pa ng bagong partner.  Naghahanap ako ng medyo madadaling topics sa P2 like Franchising, LTCC, Home Office & Branch, Corporate Liquidation, NPOs, Government Accounting, etc., pero WALA. Habang maraming Forex Transactions saka Forward Contract questions, Process Costing na nasa isang situational problem at dalawang Joint Costs problems. May theories na naman sa Practical Accounting 2. Doon ako nagulat, may about sa Activity Based Costing na ang alam ko part na siya ng MAS. Overall, even yung topnotchers nahirapan sa exam na yun dahil mahahaba na, nakakalito pa at habang nag eexam ako, malapit ng magtime pero walang labasan. Di tulad noong MAS, AT at TOA may nagpapasa na ng 1 1/2 hours pa lamang. Kung saan galing yun tanong, sorry, I do not know, dahil mas mahirap siya compared sa problems nina Dayag at Guerrero, na kung Level 1 yun sa libro, level 100 yun nasa exam na yun. Feeling ko self-constructed ang mga tanong kasi until now walang makapagturo ng source. Consolation na lang siguro dun yung mapaggamit nilang mga company names tulad ng Raikage at Temari ng Naruto, cast ng series na Suits, at sina June Mar (Fajardo), Andray (Blatche) at Jimmy (Alapag) + Paul (Lee) na players ng Gilas. Sabi nga ng isa kong classmate sa problem ni June Mar, sana raw sinama na nila si James Yap, PJ Simon at Marc Pingris.

DAY 4

BUSINESS LAW & TAXATION: The former killer subject last July 2014 doesn’t have its sting anymore, pero hindi pa rin siya gaanong kadali. Actually, may contested situational problem doon about community tax certificates or cedula dahil wala raw siya sa syllabus ng CPA board examinations. On the Tax part, may situational problem about income tax payable per quarter, dividend income, donors’ tax, pati na VAT. Theoretical lang ang Estate Taxation doon, at more focused rin ang exam sa assessments. Sa BL naman, may hustisya dahil well distributed ang mga tanong sa mga topics: may obligation, contracts, pledge, partnership, corporation at negotiable instruments. Although may mga tanong doon na medyo nakakalito. Example is kung ano ang promissory note na order to the bearer. May ilang Latin law terms na never heard sakin, tulad ng “pactum reservati dominii” or contractual reservation of title. Napa-“ano iyon” ako doon, so I suggest na dapat may legal dictionary kayo pag nagrereview. May isa pang situational problem sa BL, about sa appraisal right ng isang corporation, na kung nakinig ka noon sa lectures ng reviewer niyo, masasagot mo talaga siya. Naging sapat na sakin yun CPAR handouts at preweek on BL at Quick Notes ni Jack De Vera para makasurvive sa subject na ito. Pero dahil alam naming killer subject ang BLT last time, marami rin kaming binasa na libro doon, like ReSA handouts ni Tamayo, Soriano, etc.                       

—- ooo —-

Nakakawalandyo *with matching voice of Atty. D of CPAR* yun exam di ba? Dahil inexpect na namin na mahirap ang CPA board examinations tulad noong July dahil sa change ng composition of BOA, pinaghandaan talaga ng karamihan ito. Pero ang nangyari, parang standard costing: ang standard ay mahirap, pero ang actual MAS MAHIRAP pa, kaya naging UNFAVORABLE sa amin. Masasabi mo talaga na ACCOUNTING ang tunay na MAHIRAP. ACCOUNTING ang tunay na PURO PASAKIT. </3 Sabi nga ng ilan, pati ng iCPA, it was one of the toughest CPA board exams ever. (Di kasama yun time na hindi pa multiple choice ang board exam ah, mas mahirap naman yun.)

Sa lahat ng nagdasal at sumuporta, maraming maraming salamat! Sa lahat ng CPAs na, congratulations and see you sa oathtaking, testimonial dinner or baka sa work na rin. Sa mga hindi naman pinalad, di pa tapos ang laban! Balang araw, susunod na rin kayo na matutupad ang mga pangarap bilang CPA. At sa lahat ng magtatake this coming May 2015, I am wishing you all the best. Tiwala lang kay Lord plus efforts, magiging CPA ka rin.

KEEP CALM AND BE A CERTIFIED PUBLIC ACCOUNTANT.

To God be all the glory!     

- P.M.G. Clamor, CPA