Another CRAZY Monday!

Mondays have been my biggest day all quarter. My IFRS course has weekly presentations, and because there are so few students, my group has gone 4 out of 5 times. Regardless of whether we are presenting, we always have a case study due on Monday at 8:30am, comparing the differences between IFRS and U.S. GAAP. This week, we worked on property, plant, and equipment, so that was pretty interesting.

Following that, I had to turn in my mid-term paper on Jerome Kerviel. This guy is supposed to be an arbitrage trader for French Bank Soceite Generale, yet he decided to go way beyond his official duties, and take a 50 billion dollar long position betting the Euro Markets would improve. Needless to say, they went down, he was uncovered, and he wound up costing the firm 7.14 billion dollars. You would think they would have a few more checks and balances to prevent a "junior trader" from independently establishing a 50 billion dollar position. Got to love it.

After that, we had our case to turn on on variance analysis for cost accounting. The cost course is all case based, so very real-world, as opposed to just learning theory. I have greatly enjoyed the course, and learned a ton. After that it was home for a few minutes, then out to Upper Arlington to umpire a baseball game for 7th graders. What a day!