Accountancy and my future

I have kinda decided (i say kinda cos anything can happen and i'm open to ideas) that i will not become an auditor. And the closest thing i'l do which has anything to do with my degree course is to be a tax consultant. Of course, people don't start by being tax consultants. They begin by being tax slaves then work their way up. But i'm not particularly driven where it comes to this climb up.

with my impending graduation, the need to find a job or at least decide on something hangs over my head. I have something in mind (a secret). Only that i see that they are not employing at the moment. boo.

After looking through the awfully brief agenda of the high tea session, and seeing that the Dean will be introducing various career paths of accounting grads, i decided to give it a go. it turns out to be nothing like wat the agenda listed. Anyway, i learnt almost nothing.



This is the 'goodie bag' we received. Kinda sad. cos it turns out that the 'high tea' consists of a bag of chips and a canned drink (which i didn't take). It was a really odd thing to do cos they gave it out as we entered the conference hall. And while the speakers were talking, u can hear the cans being opened, the bags of chips crackling and people munching. Not wise.


Oh, an interesting thing i learnt was that in the pioneer batch of SMU Accountancy grads, not a single one who obtained a summa became an auditor. 2 of them are in GE, 1 in NOL, some turned tax accountants and management trainees. Zero auditors. hmmm...

Pearly Shells by the Ocean

My dear friend, whom i address fondly as "Shells", was sitting at the Wakeboarders' Counter today. And i suppose that's like really cool. So i took a picture. It's Pearly Shells, as close to the ocean as she can be, while on campus. hee.

Now i know that if i were to want to attend any talk or any high tea session, i can surely ask you! hee.

Thank You

My dear friend G, who is really a tanned, skinny, shorts-clad database of who's a virgin and who's not. ha. Very informative.


Thanks G. for the sweet email (and picture) and the little talk we had today. hee. Things will get better. and if they don't, i'll become better. in the meantime, i have every intention to pay tribute to u in my blog. ha.

Excited

I just finished my consulting class. Sounds so cool hor? Cos the real name of the course is really long. It's Experiences in Small Business Consulting. It's a management course (duh) and also a T&E for me. I was pleasantly surprised by the content of the course really. Of course, one may also say that Week 2 is too early to tell. At first, i was expecting the prof to be telling about all his experiences, singing his own praises while the class sits back and roll our eyes. But its turns out, that he gives pretty relevant pointers, interjected with snippets of his experiences (interesting and funny) and finally, we get to use it by writing up a business plan for an existing small business.

For the first time in my life, i'm looking forward to the project. This is mainly cos i get to see how people try to market something. I've never done marketing before. I always thought that it's so cliche to like marketing and want to do it. Hee. But it's indispensible in a business plan, so it'l be incorporated. But i tink my groupmate, a marketing major will be more in charge of it, while i take care of the management accounts and possibly control systems.

The thing is, even though it's not exactly hands-on for me, it's my project and i get to see how they come up with a believable marketing plan. Should be exciting right? I think i'm beginning to sound like those over-anxious freshman. But never mind la. It's better than being bored right?

Just hope that the small business i have in mind will be willing to co-operate with us ok? I love school!

I tink after i bathe i'l go read Psych. She must be lonely, having spent the entire day at home. (i put her next to Advanced Management Accounting. Don't think she'l be too pleased)

Of sleepless nites, scared chippy and early runs

Last night i couldn't sleep. So i read my new friend, Psychology. But i started getting drowsy so i slept. Then i woke at 4 in part cos i felt so so energetic and also cos Chippy was acting like a cowardly dog, needing immediate attention. Just like a baby.

So i talked with him a bit. And went back to bed, reopening Psych (u can call good friends by short-forms). Took me a while before i dozed off.

Then my alarm rang at 630am. And i jumped out of bed feeling like an energizer bunny. I have no idea. My closest guess is an overdose of anti-stuffy nose medicine.

So i went to run. (no need to change cos i went to bed in my running attire) My heart felt like it was pumping v close to my sternum. And i broke into sweat way before i usually do. i wondered if i was goin to be one of those articles. "girl goes running with a cold, drops dead". So i said a little prayer and asked God to preserve my life (i'm mad hor?) And let me run another round.

So i reached a compromise with myself and stopped after 35mins. mainly cos i was worried that i'l be late for school.

But it felt good. Sweating and feeling really hot. And feeling the prespiration run along my arms. But mayb next time i won't do it after taking medicine. boo.

AirAsia

Aug 27, 2005
AirAsia profits double while rest struggle
Low-cost carriers face overcapacity, low fares and high jet fuel prices

By Arthur Poon
ASIA's most successful low-cost carrier, AirAsia, has more than doubled its profits despite higher oil prices.
The Malaysia-based airline posted a net profit of RM111.6 million (S$49.6 million) for the year ended June 30, almost 130 per cent more than the RM49.1 million made in the previous financial year. However, it fell short of its forecast of RM147.7 million. The carrier, which is the only public-listed budget airline in the region, blamed the shortfall on not having enough planes to support its expansion of routes in Malaysia and Thailand. Although it failed to beat its forecast, AirAsia's fortunes contrast sharply with those of three other Singapore-based low-cost carriers: Jetstar Asia, Valuair and Tiger Airways. 'As far as we know, only Air- Asia is profitable, while the rest struggle as industry overcapacity, low fares and high jet fuel prices take their toll,' said Mr Shukor Yusof, Standard & Poor's aviation editor yesterday.
'AirAsia has benefited from its early start in the no-frills market and its smart hedging programme,' he added, referring to AirAsia's bid to manage the ups and downs of oil prices by buying futures contracts. None of the leading regional low-cost carriers, except listed AirAsia, have disclosed passenger traffic or financial performance. AirAsia said yesterday revenue was RM666.3 million in the period, a 70 per cent increase over RM392.7 million previously.
It carried 1.2 million passengers at an average fare of RM150 in the past three months, and enjoyed a load factor of 76 per cent. Jetstar appears to have chalked up a loss of almost A$40 million (S$51 million) in its first seven months of operation. This figure is estimated from the loss written into the books of its Australian parent Qantas Airways, which has a 49 per cent stake. Qantas reported a loss of A$18.5 million from Jetstar in the year ended June 30.
Rival Valuair lost $4.1 million in its first seven months of operation last year, much of which was due to start-up costs. Last month, Jetstar and Valuair merged under the Orange Star banner after a $60 million capital injection. Meanwhile, Tiger Airways, backed by Singapore Airlines (SIA), said earlier this week it will take up to three years to break even - some two years later than its initial target. Said its chief executive, Mr Tony Davis: 'The airline industry has very high start-up costs... We've always looked at a three-year programme for individual routes to become more profitable.' When the budget airline was launched by SIA and its partners last year, the carrier said it aimed to turn in a profit within the first year of operations.
Low-cost carriers here bemoaned the lack of new air rights. They cannot fly on such lucrative routes as Shanghai, Jakarta or Surabaya. High fuel costs have also hurt them more than full-service carriers such as SIA. This week, the price of crude oil hit a record US$68 (S$114) a barrel. AirAsia has used oil futures contracts to help reduce the risk of surging oil prices eroding its profits. The contracts will shield 63 per cent of its next fiscal year's costs.
Standard & Poor's Mr Shukor said the three low-cost carriers here have reportedly dismal earnings, raising questions whether low-cost carriers in the region 'will continue to face turbulence, or worse, fade away' like some of the failed American and European ones.
For now, Jetstar and Tiger are looking to expand in India to play 'catch-up' to AirAsia.


It's always inspiring to see how some succeed in adversity. And after listening to Tony Fernandaz at one of the SMU talks, AirAsia seems to be a little closer to the heart. even though it's a Malaysian company. hee. It will be interesting to see how the rest try to catch up and i certainly hope that in the process, air travel will get cheaper and cheaper for us all. whoo hoo.

Happy birthday Ge

thanks for dinnner. u were not supposed to pay for it. but anyway, enjoy ur new phone. whoo hoo!

my day in the library

i was bored in the library today. and my fellow friends have already started reading their stuff. It's week 2!! so i felt compelled to disturb them. and Z was my 1st victim. ha.




while the rest are studying, dot is chatting!! ha.




hardworking z.



D, for listening. and for always being so non-judgmental, so attentive. and so fun. thank God for dots. =) i didn't noe u like black. hee.



and this is my new good friend. i acquired it for 66 bucks. so i shall make good use of my money and make her well worth it. meet Psychology. the 6th generation.

my 1st attempt

My bro received some award for doing well in Chemistry/Physics. Hee. for the entire family to share in his moment of glory, i shall go n print it out tomorrow.


nice?

By the way, i think this is a really good way of making use of pictures that are badly taken. It also is very good if u are trying to capture an event, rather than a moment.

Fell prey to some ad.

turns out looking like this
Qi

..
Qi

gasp!

Cheryl has suddenly become allergic to chocolate.





this new flavour thing. i found at the mama shop at capitol building. near school. it's q nice. $1.70.
Qi

School of Econs & Social Sciences Group Study Rooms

looking like a spaceship
Qi

A view from Philosophy class

previously when we daydreamed and looked out of the classroom's window, we'll see the field or the road or other school mates having recess. But now, we look out and see another building.
Qi

The most exhausting day

While i didn't plan for it, i realised that my time-table fits nicely into a 2-day week, including tax planning TA. How divine is that?

But it also means that each time i go to school, my mind is bombarded with information. And seriously challenged, especially after such a long break.

Today was physically tiring cos i slept at 1am and woke at 630am to run. Then i found myself running after the bus twice (once in heels!). And i walked about in my 'spanking new' campus. Now still settling passing people my old books and collecting new ones, etc.

My day began with 3 hours of Advanced Management Accounting. It turns out to be just as bad as i imagined it to be. But i thank God that i have settled my project group and i like everyone in it.

Prof attempted to make us be critical thinkers. He mentioned that SMU students were earning a reputation for using 'big' words without fully comprehending their meanings as quickly as earning one which announced that 'we are different (!)'.

Well well, so it became a full 3-hour lesson of breaking words into simpler words. Sometimes it was helpful, and sometimes i felt that we were just playing with words. But all in all, it did achieve the effect of having me think about whether i knew what i was talking about or what another person was talking about.

Management accounting--accounting for the management.

Management--in charge of allocation of resources

why must allocate?--a) resources are scarce, b) optimise input

Discussion of efficiency vs effectiveness--

efficiency=max output given specified amount of input and time

effectiveness=goal oriented

Another manangement duty--planning (includes budgeting), control function (which is really implementation of strategy), performance evaluation (including variance analysis)

After knowing a bit about management and what they do, what are management accountants for?

To help mgmt to achieve max efficiency and effectiveness by providing info.

Info--data that is decision relevant.

ok, i'm damn tired and i'm getting nowhere. and all that i've typed is a summary of my notes over 2 freaking slides. i just wanted to blog it. not really for an audience (sorry i bored u), but more as a recollection mechanism. Cos when i took notes, it was all over the place.

After AMA, i have philosophy of religion. which i enjoyed thoroughly. i wish to tell u more. but i'm dead beat. i'm goin to crash.

Our 'canteen'. It was actually a lot more crowded than it looks in the picture.
Qi

SMU education promises 'hands-on experiences'
Qi

What it looks like inside
Qi

1st day at school

Today was an exciting day in school. Cos my 1st class was actually the class i was TA (teaching assistant). And it turns out that i'm pretty alright. I managed to fiddle with the new system and get it right! whoo hoo.

And i have to say, it is refreshing to attend the same class again. And awfully comforting to find that i remember some things.

But the rest of the day turns out to be not as good as i hoped. Tuesdays are supposed to be my long days, where i have tax planning TA, Japanese and then Experiences in small biz consulting.

It turns out, i can't take Jap cos i have O level qualifications. In case u start thinking 'but of course!', it wasn't stated lor! it should have been when i started bidding, and not when i have spend 80over e-bucks on it. but it's ok, after i drop it, i'l be rich.

Upon finding out that Jap class is not for me, i decided not to sit in. What for right? Then i ran into C, who starts to talk to me about my modules and all. Then he manages to find this website that convinces me that i have to do IPR in order to graduate with a law major. I get a fright of my life. cos for all this while, i was convinced that i am done with all my law modules, having completed the required 5, with a maximum of 2 overlapping. But no, IPR, ITL and C law are compulsory, according to him.

And this translates to me having to do one more module (gone with my 3 module slack life) and me having wasted my time on a random law module. i was devastated.

So i go and see Adeline, my school's manager, who assures me that i'm fine. Phew. Major phew.

Then i happily go for my small biz consulting class. Which turns out to be, a lot nicer and informative than the reviews i got from my friends with regards to the style and content of the faculty.

When i really start to like it, i realise that i am short of a pre-requisite for the course! gasp!!

Marketing 101 is required for the course!!!! What for?

Boo. so i ask the prof for a waiver. And he agrees. but now i'm still waiting for the School of Business to allow me to bid for the course. Sigh sigh sigh. i really hope this gets through.

All this (arguably unnecessary) anxiety is making me tired. I am looking forward to AMA class tm. My only and final accounting core. I hope it's as fun as it looks.

On another note, the campus is gorgeous. and it is most encouraging of a lot of walking. its high ceilings and wide walkways also make me feel rather relaxed. And certainly keeps me from missing the greenery over at Bt Timah.

I didn't run tonight. Cos i'm saving it for tomorrow morning. It won't be long before my big toe swells to the size of my fist. and it also won't be long before i head to shops to get my new pair of New Balance running shoes. yay.