Along This Trail
-
MICHIGAN’S U.P. WHERE THE MIDDLE OF NOWHERE IS SOMEWHERE
On average, I find myself returning to Michigan’s Upper Peninsula every couple of years, usually for a camping trip or a scenic road adventure. I’ve visited many of its well-known destinations over the years, including Tahquamenon Falls, Mackinac Island, and the Keweenaw Peninsula during peak fall color season—an experience deserving of a post of its…
-
Book Review (4 of 4): Financial Institutions Management – A Risk Management Approach — Industry Trends and Risk
The book describes a financial services industry that has undergone dramatic structural shifts over the last 90 years, moving from a full-service model to a highly segmented one, and back toward a consolidated “universal” banking model. This evolution is marked by significant trends that have fundamentally altered the risk profiles of modern financial institutions (FIs).…
-
Book Review (3 of 4): Financial Institutions Management – A Risk Management Approach — Regulation and Oversight
The book explains that regulation is necessary to protect the economy from the negative externalities that arise when a financial institution fails. These external costs can include the destruction of household savings or the restriction of credit to businesses. According to the book, there are six major types of regulation: safety and soundness, monetary policy,…
-
Book Review (2 of 4): Financial Institutions Management – A Risk Management Approach — Types of Depository Institutions
In the context of financial institutions management, the book defines depository institutions (DIs) by their unique role in obtaining a significant portion of their funding from customer deposits, which are then used to fund various types of loans. This creates a “joint-product” nature where DIs offer products on both sides of their balance sheets—loans as…
-
Book Review (1 of 4): Financial Institutions Management – A Risk Management Approach — Why Financial Institutions Are Special
Why Financial Institutions are Special Financial institutions (FIs) are considered special because they provide essential functions that benefit the economy by channeling funds from those with a surplus to those with a shortage. In a world without FIs, the flow of funds between these groups would be significantly lower due to high monitoring costs, liquidity…
-
ASC 323 Review: Equity Method and Investment Accounting
The information presented below is based on Roger CPA Review: Financial Accounting and Reporting (2016). INVESTMENTS IN THE STOCK OF OTHER ENTITIES An investor may acquire equity securities (common or preferred stock), debt securities(bonds) and derivatives (stock rights) in other companies. When a company acquires common stock, we need to determine the appropriate method of…
-
250 Years of America Through the Lens of the Accounting Profession💙🤍❤️
Every profession has its own history, but few mirror the development of a nation as closely as accounting. The July issue of the Journal of Accountancy features a special commemorative section celebrating the 250th anniversary of the United States by tracing the evolution of the accounting profession alongside the nation’s history. Rather than presenting accounting…
-
A Long-Overdue Trip to Beantown
When I completed my Master of Science in Computer Science in 2024, I wanted to celebrate in a way that felt meaningful. Rather than taking a typical vacation, I chose to make a pilgrimage to a place that has long represented the pursuit of knowledge itself—Boston. Looking back, it almost felt symbolic. Growing up in…
-
Book Review: Contemporary Issues in Audit Management and Forensic Accounting III
In the previous two posts, I summarized the book‘s discussions on Fraud Theory and Deterrence and Detection Tools and Models. The first focused on understanding why fraud occurs, while the second introduced the quantitative models that help auditors identify unusual financial patterns. This final post examines the book’s discussion of Big Data and Technology, specifically…