Wednesday, November 19, 2008

6 a.m. – Alarm goes off.

6:20 a.m. – Roll out of bed to get ready for school.

7:10 a.m. – Grab hastily assembled lunch and backpack, hop in the car, and race down to campus (twenty minute commute from my house).

7:45 a.m. – Arrive on campus, kiss wife goodbye, stop by locker in the library (free lockers in the PCL are brilliant!) to pick up folder for Intermediate, log onto library computer to quickly check Google News.

8 a.m. to 9:15 a.m. – Learn about accounting for capital leases from the lessor’s and the lessee’s perspective. Professor Koonce thinks SFAS 13, which covers leases, is one of the worst accounting statements in existence because companies can easily adjust their lease terms to allow for their accounting alternative of choice.

9:15 a.m. – 11:27 a.m. – Work on Case 2 for Financial Management in the Millenium Lab with group. Finalize essay explaining how much we would bid to purchase a majority share in a company and go into detail about how we chose the country risk premium to add to the U.S. cost of capital (which was given in the case). Review entire case write-up for submission in class later today.

[Write e-mail to friend about Thanksgiving plans. Receive reply with “OKAY” to invite other friend from MPA program and his wife to festivities.]

11:27 a.m. – 3:00 p.m. – Work on Intermediate Case 4 (still in Millennium Lab, but working alone now). Compile submissions from group members and write a three-page essay describing viable alternatives for the accounting treatment of a transfer of real estate and building title with no rent payments due to the transferrer. Send draft to group for final review and editing.

[While working on Intermediate Case 4, receive call from Big 4 firm checking to see if I had made a decision on their offer. I had, and sadly, it was not in their favor. Walk away still impressed by that office and wishing there were two of me to work at the two different firms from whom I received offers.]

3:00 p.m. – Drop off Intermediate folder (it’s too heavy to carry around) at library locker and head to the GSB cafeteria where I bump into the MPA Program Director, Jim Franklin. Have a pleasant conversation with him before quickly eating my lunch in order to get to class on time.

3:30 – 4:45 p.m. – Turn in Financial Management Case 2 and discuss it for the entire class period. Learn about how country risks, specifically macroeconomic risks, would most likely affect a U.S. company’s investment.

4:45 – 6:45 p.m. – Research accounting fraud scandal for Audit group presentation. Puzzle over millionaire CEO’s blatant disregard for accounting standards in favor of impressing analysts and earning a few extra million dollars. How many million dollars does one need before it’s just not worth it to commit fraud? Or is it the opposite–once you have so much money and prestige, you think you’re above the law? Craziness.

6:45 – 7:15 p.m. – Drive home with wife and discuss each other’s days.

7:15 – 7:45 p.m. – Toast some frozen pancakes, top them off with a thin layer of sour cream and a healthy portion of homemade strawberry jam. Bask in their glory.

7:45 – 8:45 p.m. – Troubleshoot wife’s computer for not connecting to our wireless router. Talk to Time Warner on the phone and still can’t figure it out. Finally turn off my laptop and see hers instantly connect just fine. Turn mine back on and it connects fine too.

8:45 – 9:30 p.m. – Write this post while wife excitedly realizes how few classes she has next week (before Thanksgiving).

9:30 – 10:30 p.m. – I don’t know. It’s the future, man!

[Disclaimer: This week has been particularly heavy on group projects. During the entire semester thus far I have worked on five group projects for Financial Management, four for Intermediate, zero for Managerial (we’ve worked in groups in class, but not outside of class), and one for Audit. So I’d say, in all, it’s about the right amount of group projects.]