Managerial accountants----Watch out!

All the things what i'm going to talk about are totally personal opinion, and the inspiration is from a case study of Managerial accounting.
Yesterday, I read a case about MA, it was said about a company which suffered net profit deduction in early 1970's. However, the company was also urgent need some loan from the bank to increase its volume of production. The income statement represented the bad achievement of the company at that time, so the manager decided to do some revise on that which could make the income statement looks better. But, he had no idea what should he do, so the question is about how we can help him to revise the income statement, and make the net profit looks more. After reading, I was shocked by the case and realized that a good accountant must be smart enough. Why? because he should know how to use his skill to change not only a income statement, but also " the achievement of the company". Also, I connect this case study to our real life at the present. Assume the case is true and that company finally get the loan from the bank, don't you think it's a kind of cheat? If there is a company which has a terrible net profit, and also wants to get the money from bank, wether the account from the company rivise the income statement and get the money? Don't you think most of the commercial defrauds are act like the same as this case study? For me, I don't know exactlly if we can call this a cheat, but I think there is a boundary of revise equitable. if we across the boundary, that means the criminal is happening. So managerial accountants you'd better watch out!

My impression of article "Summers, Obama’s Top Economic Aide, Is Set to Leave"

The reason I chose this article to read is that changes of Mr. Obama's top-level advisors may lead a significant ecnomic warm-up at the end of this year. WASHINGTON — The White House said Tuesday that Lawrence H Summers, the chief architect of president's economic policy, would leave at the end of the year, continuing an exodus of top-level advisers at a time when voters are expressing deep dissatisfaction with the president’s stewardship of the economy. Some people shot at Summers's career as an academic. Though, i'm not a economist even not have qualification to criticise what he did was wrong. But, depending on the circumstance of U.S economy at the present we can judge how weakness the policy is now. So, the decision of changing the top-level advisors may bring some strength to U.S economy. At least i'm expecting that

Tough time for looking for a job

Global Youth Unemployment at All-Time High -- From NY Times 08/30/2010 Merri Shaffer is unemployed. She's searching for a job, like many of the 81 million other young people out of work worldwide. "I've been looking, I've been hunting, a lot of online research. A lot of job sites that I feel arecoming up completely leaving me empty handed," Shaffer says. The economic downturn is hitting young people more than others, according to Elena Gastaldo of the UN's International Labour Organization. "In these days, young men and women are three times more likely to be unemployed than their older counterpart," Gastaldo notes. In developed countries, like here in the U.S., nearly one young person in every six is unemployed. But as the report shows, youth unemployment is a global problem. It affects all types of economies, in every region of the world. Young people in the Middle East and North Africa have the highest rate of unemployment. American University professor Diane Singerman says the explanation is simple. "There is a youth bulge in the Middle East, which means that a very high percentage of the population is young," Singerman explains. In Egypt, the most populous country in the Middle East, the government used to guarantee jobs for all college graduates, but no longer. And many of its graduates are not sufficiently qualified for the private sector jobs that exist. Gender also plays a role in the Middle East. Fewer than one in three young women there is employed, even though women are generally more educated than men. "The idea is that women should be educated, but they should be educated to take care of their children," explains Singerman. Galstado says the outlook for young people all over the world is bleak. "Young people, particularly in times of crisis, are the last to be hired and the first to be fired," she says. She adds that young people have two strikes against them: they lack a large network and also work experience. Merri Shaffer says young people should be given an opportunity to get the experience employers are looking for. "It's incredibly annoying. It's incredibly frustrating," says Shaffer. "It's hard knowing that that could always be used against us when walking into the interview room or when sending out our resumes and cover letters." But she won't give up the hunt. "My dad continues to tell me that looking for work is a full-time job, so eight hours a day, maybe a little less than that, I'm searching, I'm shoveling resumes and cover letters out there, I'm still doing the best I can," Shaffer says. Many young people like Shaffer hope the job market recovers soon, so their time and talents aren't wasted.