Have you ever opened your eyes in the middle of the night and see yourself still in bed, just stirring from your slumber? You proceed to go back to sleep by changing your current sleeping posture but you soon discover that your entire body is numb and you cannot move any parts of it. You start to panic, unsure of what is going on, and try to muster a sound or scream but even your voice is at a freeze. No sound comes out. You are really freaked out at this point and you do not know what is happening to you but you the harder you try to break out of you frozen body hold, the more tired you are becoming and you are growing restless. You then decide to either keep trying to yell or just give up and ride it out. And then...
Science has explained this feeling of a midnight stir and finding yourself physically unable to move as sleep paralysis. This is an in-between state of sleep when the body has physically been turned off, all your muscles relaxed, and the brain is still function (hence, the ability to see yourself still in bed and recognizing what is happening). Another explanation suggests that the position in which you sleep can contribute to this phenomenon. If you lie on your sides often when sleeping or in certain postures where the blood flow to all parts of your limbs and brain are not consistent, it can cause a numbing effect on your limbs, that is why you cannot move your body during this state. Ever heard of "my leg is asleep"?
Although science may have its own explanation for this, cultural beliefs have other theories. In the Asian culture, people have passed down countless stories about this phenomenon happening to people for ages. The general belief is that when you experience this during sleep, there is a ghost trying to hold you captive by sitting on your body. The pressure from the spirit puts your body in a physical trance where you are restrained by unseen forces. You cannot scream or make any sound because the hold also cuts off that source of energy from you. The only way to get rid of this is by chanting a religious prayer during it and hopefully that will rid of the spirit.
Which theory is true? That's obviously up to the beholder. However, in my personal life alone, I have known numerous people (family, friends, etc.) who have experienced this sleep paralysis..with a twist. It is not uncommon for someone to experience this during the middle of the night and also seeing a shadow standing close by in their room, perhaps at the foot of the bed or somewhere around. My mother has had numerous encounters with this experience and has even heard voices talking to her while she is in the trance; some were nice, some were nasty angry voices. When I was 12 years old, I experienced my first paralysis..it was the same experience as described above. However, I saw a white female-form shadow standing at the foot of my bed the whole time, staring at me. Needless to say, I was shaken by this for weeks.
The world we live in is an extremely interesting one, filled with mysteries and unanswered questions. Science tries to prove everything but the supernatural is beyond fact. I do believe in ghosts. I believe that spirits roam the earth after departure from the body after death. They live in the same space we do, but they occupy the other world. And sometimes...like all things...the two worlds collide.
Here's an article on sleep paralysis that may be interesting to you if you:
What Causes Sleep Paralysis?
Sleep paralysis: Science or Supernatural?
Scruff McGruff says stay in school.
So let’s talk about grad school. Some people want to leave college and enter the world of responsibility…why, I don’t know…but some do and enter the real world and later return to get their MBA or Master’s degree.
We’ll start with the SANE folks who don’t want to enter the real world of responsibility and would like to stay in the play-land known as college. 5th year programs are really nice because it just gets you more education for your job and allows you to become more valuable before you enter the workforce. If you don’t go to an Ivy League school, that’s about the biggest advantage you can get as I’ve said. It’s also a really great idea (as I’ve said previously as well) that you should get a degree in skills that are complimentary to the ones you already have. For a 5th year student with an undergrad degree in accounting, getting a grad degree in finance might be a good idea. Could also match up Finance and Accounting with Economics if you feel like, same idea.
For folks who want to come back, you have 2 options really. Get a Master’s or get an MBA. Typically, they take a similar amount of time to achieve (my friend going through it will take 4 semesters, it’ll take me 3 to go through my MSQF) but the MBA is what people like to see next to your name. if your gonna go for your MBA though, typically it’s because your company is paying for it, so you infrequently get a choice in the concentration.
I will point out, avoid doing your MBA directly after graduation. The programs are designed to work off your real world experiences. Many employers will simply not take you seriously if you get your MBA right after graduation. I’ve written about this before so I won’t drone on about it any longer.
PS – Red Sox, it’s getting to be a habit.
The "-itis"
I am ill with a serious case of Senioritis. Everyone, guy or girl, experiences this laziness and procrastination phase to the N-th power in their very last semester of college.
Since I have slaved away for the past 4-5 years, I entered this semester thinking it was going to be a breeze for me. I expected to be relaxed throughout the term and not having to exude much effort or concentration. Boy was I wrong!!! I'm still as busy as ever and even more stressed out than in previous semesters.
When I started to realize that my last classes in undergrad schooling were not going to be a piece of pie, I had to make a choice. I asked myself, "am I going to succumb to my disease or am I going to do well this semester even though it's my last?" I wish I could say that I'd rather relax and just do the minimum. Something inside of me, though, would not allow it. It's actually kind of annoying.
If you think that your last term will be a vacation, you are in for a real surprise my friend. Your school, as mine, will be sure to make even your last months with them as miserable as possible. I guess when we pay our tuition, that's the service we receive from them => making sure we are stressed out and busy to the bones.
Get a summer job ya bum!
So, this week is on summer jobs. Now, much of my first statement about finding a real job applies to summer jobs as well. If you have an uncle, get him to get you a job, if you don’t, get a girlfriend who has a father who can get you a job….yada yada yada… Needless to say, it’s very, very important. But I did anyway…shutup…
So, how might I get a job? Well, throwing your resume around is typically the best was when you don’t have an “in”. Give your resume to your career services is always helpful even if they’re not all that great at getting people jobs. It’s one of those “well, couldn’t hurt” type things.
Second, and I’ve already said this, go to job fairs and throw out your resume to anyone who’ll take it.
Thirdly, start applying to internships in your area online. Typically, on a company website, they’ll have a “careers” section or something like it where you can apply.
Fourthly, if you get an interview, dress NICELY. I mean suite and a tie. Preferably something that fits. Make sure you research the company thoroughly so if they ask you about their company, you can answer easily and correctly.
Lastly, use some online websites if you’re stuck. Experience.com might be a good choice (shameless plug). This way your resume is nice and public.
- I wanted to go back and reiterate something I forgot to say concerning finding a college. Jen’s post reminded me of this and I agree. Group work can suck a lot if you’re not with a good team. I myself was awake and working for 81 consecutive hours for my GB301 project…yea…I think I was running on adrenaline and hatred at that point…possibly some alcohol. Bentley does a great job of preparing people for that, not that I’m really plugging my college but they do it well. In virtually every class I’ve taken here (meaning all but about 4), I’ve had a group projects and that’s how the real world is. You rarely do things completely on your own (and I mean RARELY), it’s always in some sort of group with a boss and some co-workers. So, make sure when you look at a college, ask a student there (or whoever) how often you’ll be working in groups.
PS – GO RED SOX, AGAIN!
Preserving the earth for a healthy future
As of October 16, 2007, the population in the U.S. is 303,139,491 and the World population is 6,625,034,920. I am only one person. An invisible microscopic dot on a map of the world. So what can I do to help the environment?
I would be lying if I said that anything I can do for the rest of my life by myself will make a big impact on the earth. However, just because I cannot make a difference alone does not mean I should not even try to positively affect those around me to help. In everyday living, you and I can make a difference just by being mindful of our actions. Not littering. Not smoking and throwing cigarette butts anywhere. Not driving excessively every day. These are just a few things that each individual has total control over in order to help preserve the environment. If you make up your mind to behave a certain way, chances are you will also be able to positively influence those around you to follow suit. Through time, one small number can grow to be a lot and that will definitely make a difference.
The earth is our planet and our home. We constantly contaminate her with pollution, toxic chemicals, and trash. How much longer will the earth be green if we continue to mistreat her? With that in mind, please be good to our environment because she has been more than great to you.
If you hate Group Projects, raise your hand.. *hand*
If you are anything like me, then you will understand precisely what I mean when I say this - I hate group projects. I work well on my own because I am very careful when it comes to my grade. Being in a group for school work is like handing your immediate success in that class for that project over to someone else. And usually, the other person is not as reliable as you. So why do teachers make us do projects that weigh so heavily on our final grade with a group?? It is their attempt to teach us how to function as a team.
Scary as it is, in the real world of corporate accounting (especially for Auditors), you always work as a part of a team. Other factors depend on the clients that your company will assign to you. Some people will be moved frequently from one client to the next and spending short periods of time with each engagement team. Others will spend half of the year or more on one major client and respectively, one team. In that situation, you will need to learn to get along and work effectively with others on your team at all costs. Unless there are serious unethical issues and personal conflicts that arise between you and your colleagues, you do not have a choice. To better yourself is to learn how to be a productive team player.
The reality is tough to bear but it is inevitable. To be more competitive, you must be able to adapt well into any new setting. In the corporate world, you are evaluated not only by your superiors but by your peers too, even if it is informal. You are judged based on your abilities and not your inabilities. Having a perfectionist mentality is good for you but if you cannot learn to loosen up your thinking, it will harm you in the long run.
Please enjoy this entertaining video on the importance of Teamwork.
Green is to cool like yoda is to...get it?
So…the environment…
I’m as apathetic as they come about…everything…but even I know that we need to start helping the planet. So, the best way to make people go green is to make it profitable. So, Finance folk, get on that. Green is becoming so popular these days, if the companies involved were like BP or Mobile, I’d say we’d be in a bubble. It seems that this industry is in a huge upswing with the increased demand. So, if you’re at school, take a class on green finance or ecological engineering so if you go work for an investment bank, you’ll be the guy/girl the old men go to when these new upstart green companies go for their first IPO or Debt issuance. Put you in a position to be an expert at a very young age. So when you get to your job, remember, you want to help the environment and the easiest way to do so is to make it profitable enough that the purely selfish utilitarian investor will want to put his money into helping the environment.
PS - GO RED SOX!!!
So I went to a job fair this week, which makes me want to write about that. This one was at my school (Bentley) and about half the planet was there. So I figured I’d point out some dos and don’ts.
First, I’ll throw out that you want to make sure you bring enough copies of your resume and hold them in a nice looking folder or folder like item. I feel this one is obvious, if someone wants your resume, you should probably have enough for anyone and their mother.
Second, might want to make sure, if it’s a 2 pager, front and back, no stapling. The 1 page rule is a partial myth. In college, they tell us that you should limit your resume to 1 page. It’s true…usually…for kids of that age because basically an 18 year old likely doesn’t have the experience to fill 2 pages. For me, I’ve got a fair amount of stuff so my 2 pages is not filled with “worked line at Panera”, it’s filled with like “working understanding of delta hedging calculation and strategy”.
Third, try to avoid wearing a black suit. I realize that might be all you have, and that’s okay, it’s a matter that if you can look just as classy and sophisticated without looking like every other person at the fair, that’s a plus. I had a nice red shirt and some nice looking dress pants. I looked pretty good if I do say so myself. The point though was to stand out more than the eerily blue drab that dominated the sea of people walking around. It’s not a huge deal, but it’s a plus if you can stand out while still looking classy. Same thing goes for the ladies but don’t really understand female fashion (barely understand male fashion) so I don’t really know of any examples to give.
Fourth, you don’t necessarily need to get their all that early. Don’t get there 10 minutes before it ends while they’re packing up (if you do, give them a good excuse as to why you would) but you don’t need to get there in the first 10 minutes either. It’s good to be enthusiastic but those people have to be there for several hours and if everyone only shows up in the first 30 minutes, they’ll be bored for the next 3. Maybe show up at like hour 2 or hour 3 when the place has died down but people are still there. You might be better remembered too.
That’s really all I can think about right now, I haven’t been feeling all that well. Y’all have a good week.
Accounting stereotypes
Ever wonder why people always say that accountants are boring? No? Ok, point taken. It is true, the work that lies ahead of our futures is not the most exciting type of work. I will even venture and say that it is mundane! Then why are we growing into accountants?
The answer is simple => Sarbanes Oxley. Since SOX was established in 2002 (after the whole Enron ordeal), this movement has created a dramatic increase in the demand for accountants. Stricter rules means more time needs to be spent on the books and that results in more openings for future accountants.
Interestingly, the rate of accounting majors is dropping by 17%. What does this mean for you and me? $$$! The demand for us are rising drastically while the pool of future accountants is not growing as quickly. This is a good indication why companies are offering accounting jobs at higher salaries than they did years ago. The race to grab the best accountants is on amongst firms. It is competitive for them as much as it is for you (with peers). So do not fear, my accounting majors! You have chosen an extremely promising and stable path which will reward you very well. I whole-heartedly believe this. My future is secured and yours will be too if you continue to strive and stay focus on the path that you have chosen.
Now, who says accounting cannot be fun or humorous?
Class for today kids
Okay children, quiet down. YOU! Stop passing notes. Anyway, this week’s discussion is about classes you should be taking. If you want a job on the street or with a good company, you should know what classes to take to make you most prepared for those jobs.
4 General Rules:
1.) Pick Classes that are finance-related, be it indirectly or directly. Wow, I know, how obvious, but I feel the need to point out that your senior year basket-weaving class you took for a 4.0 might, just might, not be helping. I’m not saying don’t take classes that you want to because you find them interesting, I’m saying try your best to shy away from them. If your favorite hobby is photography, take a class on that but if you just want to take squid fishing for the hell of it, take another class that will better prepare you for work.
2.) Pick classes that focus more specifically on your specified fields of study. If you know you love everything about bonds; you eat, sleep, and want to marry a fixed income security, maybe minimize your classes to do with equity stock valuation and focus more on fixed income securities valuation and strategies.
3.) I hate to say it but, aim to have some sort of background in accounting. I know I’ve said this before but, really, it’s so very useful.
4.) Be able to write effectively because your boss will love you.
Well, now that we have the obvious out of the way, I’ll get more personal and specific.
For me, I love derivatives and derivatives calculations. Basically, I eat, sleep, and want to marry some sort of derivative security. Now, knowing this, I make sure I take all mathematically oriented classes not to mention every derivatives class I can find. Undergraduate, I majored in Corporate Finance and Accounting with a minor in Mathematical Sciences. Derivatives are basically big math models so I made sure to take classes like Financial Calculus, Discrete Options Pricing, Calculus III, Game Theory, Mathematical Foundations in Quantitative Finance, Fixed Income Valuation and Strategies (the valuation part interested me), and Equity Valuation. I realize that’s a long list but combined with the core required classes I had to take for my under grad and grad majors, I basically can calculate every financial item there is in the finance world. That’s not bragging, it’s just education. I made sure I took all the classes that would allow me to do that. I guess I did sacrifice more the analytical aspect of finance, the intuitive side, for the more technical analysis but I’ve always been of the opinion that if a real investment is based on something other than good business fundamentals, it will be not much more than luck. I know some would disagree but I’ve seen so many “sure-things” fail I can’t say it’s much more than a Vegas gamble.
Now, for the more broad subjects, I have to words of advice: (well, not two words, I’m much more of a windbag than that)
1.) Background in accounting
Basically, and I’ve said this before, accounting is the common language of all business and understanding it will allow you the fundamental skills to succeed in virtually any environment. I know, many people (especially straight finance folk) hate accounting. I do, I hate it with a fiery passion. But I sucked it up and took 4 hard core financial accounting classes so I know I’d be able to read any financial document I was given at work. My roommate, who I’ve mentioned before, Shinsuke, now works at RBS in Japan said his one regret is that he doesn’t have my background in accounting. He has a hard time understanding precisely what certain things mean on accounting statements and what each line item entails. So, I know it sucks, I know it’s hard, I know you might hate it…but quit your bitching, man-up, and take a financial accounting class so you understand what the hell your reading when you go to work.
2.) Take English and/or writing classes
I know this will sound a little out of place but taking a few extra English/communications classes would be very helpful when you go to work. I know a few company owners and one of the biggest things they want from you would be your ability to communicate. I know first-hand that if my boss gets an email that he can’t understand, he’s not happy…and if your boss isn’t happy, nobody is happy. I’ve literally spent an hour de-coding a very important email for my boss so we could try to figure out what the hell one of the salesmen was telling us. Frequently, especially at the first levels of employment, your boss will ask you to write up a report summarizing…something… summary skills are CLUTCH in the workplace. You need to summarize an industry and you need to summarize it in less than a page. You need to use bullets, you don’t need full sentences, but you need to be clear, concise, and coherent. You need to get the point across and you need to do it quick. If you can do that, your boss will LOVE YOU because you lessen his workload. As an intern in every job I’ve had, my boss has told me that he/she was lucky to have me because I gave him less work. There’s that old joke “give me an intern who only doubles my workload and I’ll kiss his feet.” Be that guy who need to wash his feet every day. A way to do that is making sure you can communicate effectively; to do that (back from a moderate tangent), you should take some business communication/English/memo writing classes.
So I think I’ve bored you enough for this week. Go play halo or get drunk or something. dimissed.
Studying for the CPA: Do’s and Don’ts
“Studying for the CPA…” Mention these 3 infamous words to any accountant and you will witness a look of utmost distaste and displeasure. Love it or hate it, for every accountant, the quest of passing the CPA is equivalent to the quest of finding the mythical and legendary Holy Grail. While passing the CPA will only most likely result in 3 to 5 extra hours of “free time” after work, unlike the promise of immortality that the Holy Grail offers, it remains a very much sought after “grail” for most accountants. Hence, in order to aid each and every accountant’s quest to passing the CPA, here are several tips achieving that goal.
Conquering the Multiple Choice Questions
- Control the amount of time spent on each question. For Financial Accounting and Reporting, you should spend approximately 1 ½ - 2 minutes on each question, 2 minutes for Auditing and 1 - 1 ½ minutes for Regulation and Business Environment Concepts.
- Familiarize yourself with the format. Make sure to take the tutorial and sample test (several times, if necessary) available at www.cpa-exam.org. In an exam where
- Read all choices before answering. There are times where you might be tempted to choose the first choice that seems right. However, since the exam is designed to be tricky, examiners will include more than one good answer and you will be forced to choose the best out of the lot. Be mindful of the tricky examiners who will be out to foil your attempt to conquer the CPA!
Conquering the Simulations
- Familiarize yourself with the format. Not to be repetitive, but you do not want precious seconds go to reading the instructions on the “Simulations” page. Make sure you know how to navigate yourself around the Authoritative Literature tab since it can be a little tricky. Once again, visit www.cpa-exam.org to view the tutorials in Simulations.
- Pay special attention to the Written Communication tab. This is important since 10 percent of your overall exam score is devoted to a demonstration of your writing abilities.
Scheduling for the Exam
- Schedule your exam early. It is recommended that you schedule 45 days in advance of your preferred date. Schedule your appointment through www.prometric.com/cpa. This web site is available 24 hours a day and can also be used to cancel or reschedule appointments.
- Allow yourself adequate time to study for it. Make sure you allow yourself ample time to study for your test. If it is during busy season, allow yourself extra time to prepare for your test since you might not have too much time to study for it. Note that it will also cost you an extra $35 if you wish to reschedule your test. Go figure. As if the $90 application fee plus the $209.33 for the Audit examination (the most expensive as of
- Know your testing dates and time. You will be surprised to find out that there are a lot of times where test takers have misread or forget their examination dates and times. You do not want all your hard work undone by not making it on time and therefore having to reschedule your examination again. “Oopps” doesn’t quite pay for your rescheduling fee.
During the Test
- Do not panic when you do not know the answer to a question. Have comfort that most test takers will not know the answer as well. Gather up your wits and prepare the best answer that you see fit.
- Do not stress. Do not give yourself added stress during the exam. Realize also that you are not in this alone. There are other test takers who are equally as stressed as you are. Look around the examination room and you will find several test takers either wearing a permanent frown on their face or with hands pulling out their hair from different directions.
Other Things to Keep in Mind while Preparing for the Exam
- Engage in activities that help reduce stress. It is important to keep yourself stress-free since it allows you to think and perform much better. Do not overwork yourself since that can be detrimental to your health. Go out to the movies, bars and mini vacations every once in a while. There are only so much debits and credits one can take.
- Get plenty of rest. You will need plenty of endurance and concentration during the day of the exam. Do not study too much the day before the test. Allow your mind to rest by doing some fun activities.
- Motivate yourself. Tell yourself that you are THAT close to becoming a CPA. Think about the things that you can do after you are done with all four parts of the CPA. This should be a good enough motivation to do well on the test.
- Have a positive mindset. This will boost your confidence. Tell yourself that you have studied as hard as you can and have followed through on your study plan. Hence, you are as prepared as can be. All you have to do now is to take the test. You have already won half the battle J.
And always remember the old, cheesy CPA joke…you know you’ve heard it before. ”You know what does the CPA stands for? Can’t Pass Again…” There, this should be a good enough motivation to do well on the test. Good luck!
Author: Terry Lai, Ernst&Young LLP
