Project deadline

I'm heading to the great white north so will not be able to answer questions all weekend. I will be back Monday so you can IM me then if need be. I warned everyone I'd be leaving. Wish me luck in my basketball tournament for old guys.

In class we completed homework for chapter 10, took the 5th quiz of the year, then started chapter 11.

The home stretch is here. Hold on for a few more weeks as there are still a lot of grade busters coming. Project is 20%, 1 quiz is 3%, final test 20%. If you are happy with your grade keep going. If you are not happy with your grade there is still lots to do to significantly increase your outcome in the class.

Homework assigned:

•Read Chapter 11
•P11-25A
•P11-26A
•P11-29A
•P11-30A
•P11-32B
•P11-36B

DDB depreciation

As you see (click on the picture to see a better view) you only depreciate it down to the residual balance so you don't actually multiply the book value by the rate. Only take the difference in the 4th year. Hope you can sleep easier now that this mystery is explained.

Chapter 10

Had a good class. Finished off Depreciation, depletion and amortization. Big thing to remember is depreciation and depletion have an accumulated account. Amortization gets written off against the asset.

Started talking about buying companies and good will. Left it at the definition of good will. Made me start looking forward to next semester. Stocks, bonds, markets, analyzing companies, etc. Very fun stuff. Kind of gives you a good understanding of the economy in general with an accounting type view. Asked who was coming back next semester. Saw about half the hands go up. Normal for about half the class to drop off from first to second semester.

I said I'd put something on my blog but forgot what it was. If anyone remembers let me know. We will do homework next class and have a quiz on depreciation.

Answered project questions and reminded everyone that I'm gone Thanksgiving weekend so won't be able to answer anyones questions over the weekend. Still time to have me look over the project. Bring it to class on Tuesday even if you're not done and I'll look it over after class.

Anyone join Linkedin yet? Add me if you'd like to stay connected. http://www.linkedin.com/pub/6/a62/913

Make up blog

I realized last night I missed a blog for Tuesday. First time this semester. Kind of proud of that as I'm usually a procrastinator. We spent most of our time Tuesday telling stories about land, buildings, cars etc. Threw in a bit of depreciation and depletion. Always like a lively crowd. Amazing that this semester is almost over. Gone very fast.

Gave back the tests. The average was 83% and the medium was 85%. The high was 96% and the low was lower than that.

Also showed everyone their grade thus far. Some were happier than others. Still have 45% of the grade left so that can make a huge difference in the end.

Homework:

•Read Chapter 10
•P10-28A
•P10-29A
•P10-31A
•P10-34A
•P10-39B
•P10-40B
•P10-41B

Test night

Chapter 7-9 test tonight. Ashley was done in 45 mins. Must have been a super easy test. Nikki wasn't far behind and said she felt good about the test.

Just looked over Tammi's project and was impressed. Hope everyone does as good of a job.

One more chapter test/final, 2 quizzes and the project and the semester is over. Sad I know. Wish this semester could last forever.

Homework: Read chapter 10

Chapter 9 Homework

Showed up early to answer project questions and a class was inconsiderately hogging the room. Considered challenging their instructor to a thumb wrestle as they were clearing out but held my tongue so considered it a triumph of my emotions. (She actually looked pretty tough and I only pick fights with people smaller than me.)

Answered project questions at the beginning of class. Starting the countdown to the project due date. Only a few more weeks to get it done. (Dec 2nd).

Finished off chapter 9 lecture and went through most of the homework. Below are the two questions we didn't get to. Tammi told the class how sending out nice but firm letters to her over due customers have brought in 50% of her over due aging. Carrie got hit in the head again somehow but didn't hear the full story. Ashley's calculator needs an upgrade but she can get it to work most of the time. Nikki did something to her hair but I couldn't figure out exactly what. I knew I should have commented as I heard some of the other students comment but didn't know what exactly was different. Guess it's a guy thing. It's a standing joke in my house when my wife asks "notice anything different" I say "got your hair cut?" Some of the time I get it right (lucky guess) most of the time she's offended as she hadn't.

Homework went over journal entries for collection of note receivables, calculation of interest and recording interest for seperate periods, and calculation of acid test ratio and days sales in receivables.

Went over the test and I really think it's the easiest one I've ever made. smile.

Test on Thursday. Good luck.

Click on image to see a clearer view.

Chapter 9 in room 208

I was surprised to see everyone in the correct room when I showed up for the lecture. Someone must be reading my silly blogs as that was where this room change was announced. Julie was still missing in action so if someone can make sure she is only voluntarily lost that would be appreciate.

Gave a quiz on petty cash. Such an easy quiz, I can't believe I'm such a push over. That's the 4th quiz of the year so we only have 2 more remaining.

Had several questions on Monopoly to start off the class. Seems like everyone is getting that underway. I think a couple of people were doing their monopoly project in class during the lecture. Glad to see I can at least keep people awake even if its just to work on other things. I better not give myself too much credit as I think text messaging is the real thing that keeps some people awake in class.

Chapter 9 goes pretty deep into receivables. Internal control, best practices, estimating bad debt, payments from customers, etc. Found out who's Guido in their companies. Found out Carey actually has someone called Guido in her company that collects money (hopefully not with a bat). Tammy is Guido for her company. Jennifer says her company collect 42% of what they bill where the industry average (neuroscience care) is around 35%. Fun times. Always like it when everyone has something to say. I'd much rather listen to the students give examples than for me to babble on.

Homework assigned:

•E9-15
•E9-23
•E9-24
•P9-27A
•P9-30A
•P9-32A
•P9-37B
•P9-39B

Homework chapter 8

Showed up to class in the art and technology building where we were told to go and there was a spanish class already inhabitating the room. They looked pretty fierce and I didn't feel like thumb wrestling the instructor as she looked pretty dangerous so we slipped next door to room 203. We've been kicked out of that class however. I just talked with the powers that be and we've now been assigned to room 208. Spread the word to all your family and friends.

Funny thing is one of the students said they were moved into our old class in the business building for one of her daytime classes. Must be testing us to see if we will have class even with no room assigned. Never fear, nothing can stand between me and talking about accounting for 2 hours.

As I was walking by room 202 after class I saw one of last years all-star students in the spanish class we got kicked out of. Glad I didn't make a fuss and try to arm wrestle the spanish instructor (although I think I could have beaten her). I wouldn't want to ruin my reputation as a happy, easy going guy.

Got home and the election was already over. I think I saw around 100 million people voted for president. With the US population around 300 m that's one in 3 voted. Pretty good turn out.

We finished up the lecture for chapter 8 then did a couple of homework problems. Bank rec and petty cash.

Homework: Read chapter 9

Chapter 8

Told lots of stories on Thursday. I knew I needed to speed things up to get done the lecture but found myself telling story after story. Probably boring for everyone but myself. Internal control lecture is always a fun one. Bank recs, petty cash, stories of fraud and corruption. What more can you ask for.

Told everyone to expect a quiz on the homework. Probably either be a bank rec or petty cash question that is similar to the homework.

Next class we will finish up the lecture then move onto the homework. Probably finish that as well.

Homework assigned:

•E8-17
•P8-28A
•P8-33B
•P8-35B
•P8-37B