While the majority of us think that a university degree will advance us in our chosen careers, there are some who still think you should get there through hard work and not because of a piece of paper. Here we have a few comparisons between university and community college educations.One of the main, and very obvious advantages, is that you have the possibility of higher earnings in the future. While there is nothing in this world that guarantees you will be employed in your chosen field, the fact remains that if you are lucky enough to be, your potential earnings are greatly increased.University isn’t just about gaining your degree. This is obviously the reason for being there, but attending college is a life changing experience that has much to do with living on campus. You don’t get this experience from attending a community college.Sharing dorms with strangers who become friends and embracing the whole lifestyle is one of the major reasons that students choose to attend a university rather than a community college.There is a lack of diversity and ethnicity in community colleges, as the students are all from your area and you will probably know most of them anywhere. Universities have students from every religion, culture and nations that you can imagine.Realistically, the only way that you will experience this is if you attend one of the larger community colleges in a city that has very diverse cultures, like New York.By mixing with students from different backgrounds to your own, you get the opportunity to experience different cultures. This is often lacking from community colleges as the students will most likely be locals as opposed to a range of cultures.Another thing you’ll be missing out on by attending your local community college is the opportunity to experience the arts programs that the universities take great pride in. Going to a concert or to the theater with your fellow students is a big part of student life, so don’t miss out on it.
Accounting Education in Films
Because of major financial crises that have occurred in the past, many film producers choose to re-enact these events through movie productions. These producers were forced to incorporate technical accounting and financial principles to correctly portray the events leading to a financial crisis. “Other People’s Money,” a film released in 1991, by Norman Jewison, starred Danny Devito as Lawrence Garfield. Garfield’s success has come as a result of purchasing companies and liquidating their assets, which required accounting and financial theories. The accounting that is discussed during the movie directly relates to course material commonly studied in an intermediate level accounting class.
Garfield identifies an appealing company called New England Wire and Cable. He is aware that the company has a higher liquation value per share than market price per share. In addition, he is particularlyimpressed by this company because it has no debts, no legal liabilities, no environmental or contingent liabilities, and a fully funded pension. Garfield makes every effort to influence the owner to sell the company and illustrates to him how his assets are worth more after liquidation.
This movie incorporates many theories and topics presented at an intermediate accounting level. Topics such as Generally Accepted Accounting Principles (GAAP), liquidation, market value, historical costing, financial statements, and fair market value are frequently mentioned throughout the plot. A particular scene in the movie displays Lawrence Garfield explaining a very basic valuation analysis to the owner of New England Wire and Cable that simplifies the concept of “market value or price per share.” This calculation includes the addition of equipment at salvage value, land at fair market value, value of other operations, and working capital, totaled and divided by the number of shares issued and outstanding.
The equation is begun by explaining that equipment, purchased at 120 million dollars, has a salvage value of 30 million dollars. The concept of depreciation, which includes salvage value, or value of an asset at the end of its useful life, is an intermediate level accounting topic that is frequently referenced. Garfield continues by adding the fair market value of the land, as grazing land. When learning fair market value (FMV) in accounting education, it is commonly associated with impairments, a topic learned in intermediate accounting. New England Wire and Cable also conducts operations of plumbing electrical and adhesive, with added other revenues to Garfield’s calculation. Finally, working capital is added to this part of the equation. Working capital, particularly as a ratio, is constantly used in accounting and finance to show liquidity of a business by comparing current assets to current liabilities. In intermediate accounting courses, current liabilities are further discussed relating to gain and loss contingences.
To begin the second part of the calculation, Garfield decided to reduce the total by 25 million dollars because the wire and cable division of the company is not producing a profit and is being supported by the other divisions. He does this to be conservative. Conservatism has remained a large part of intermediate level accounting, specifically in acquisition and valuation of plant, property, and equipment. Following this new conservative total, Garfield calculates the value per share of 25 dollars by dividing by the number of shares issued and outstanding. The current owner of New England Wire and Cable mentioned that the initial market price was 10 dollars per share and Garfield refers to this as a “sale” since its liquidation value per share is 25 dollars.
The market price per share of stock is a current measure, not based on historical values. All of the variables needed to calculate the market price per share is given within a company’s financial statements. The difference been these two values is that the initial market value is what the stock is actually selling for per share while the liquidation value is what each share would be sold for if the company should go out of business and sell all assets. Typically, the market price per share should be higher than liquidation value. In addition to the actual calculation of a valuation analysis, students of intermediate accounting are continually educated on the preparation of financial statements, in compliance with the Generally Accepted Accounting Principles, otherwise known as GAAP.
In this short equation, each component included a number of accounting concepts that are discussed in intermediate level accounting. Each line item of the equation could be broken down into accounting ideas that directly relate to many other theories. As students are educated in the field of accounting, it is easily determined that each theory and concept is a building block for a more complicated and complex accounting problem.
Working on your online degree at home allows you to learn in your own way and will let you retain ownership of how quickly you want to earn your degree. Fully accredited online colleges have earned a widely recognized form of university accreditation from one of the six regional accreditation boards.Only until recently, students enrolled in online degree programs were ineligible for federal student aid unless at least half of their program was campus based (a law established in 1992 and known as the 50-percent rule) but that has changed. And you want to make sure your online school choice does have accreditation, which means the institution has passed a certain level of standards through a recognized organization for upholding quality education.It is The Department of Education and the Council for Higher Education Accreditation that recognizes the Distance Education and Training Council as the accrediting organization for distance learning institutions and education programs that offer online degrees.Many established colleges and universities are now offering online courses and online degree programs and they are usually accredited. One of the greatest benefits of online degree programs is that you can work at your own pace at any time of the day on any day at home. If you’re already working and would like to earn a degree, then the opportunity is there more so today than ever before and with more credibility.Make sure to ask the educational institutions you’re considering for references. To determine whether or not you’d be a good candidate for an online student ask yourself if you’re someone who gets things done ahead of time or tend to put them off until the very last minute.Some of the types of online degrees available include: a business administration degree online, online computer degree, online marketing degree, online biology degree, online doctoral degree, online nursing degree, online education degree, online psychology degree, online IT degree, online criminal justice degree, electrical engineering degree online and online theology degree.Ask the counselors or representatives who handle the accredited online degree programs or bachelor degree online programs what the job prospects are if you’ll be seeking a job or better job after completion. Graduates of the online degree programs are a good source of recommendations. And ask them if there is anything they think you should be aware of. Important– make sure that any online credits you earn are transferable; ask someone you trust at the institution that you plan to transfer to, because most schools vary from course to course and with the individual school policy. You might want to get it in writing.Try to find online degree forums or chat rooms with students who are attending the school you have in mind. Its been reported that employers feel that an employee who receives an online education degree compare favorably, in terms of the knowledge learned, to someone with a resident degree. Make sure to find out if you have to go to a campus to take any of the exams or complete any of your online coursework. And would you have any difficulty getting to the campus in the evening or on weekends?When you’re doing your research, it’s important to recognize and avoid diploma mills that churn out fake degrees at a high cost. Also there are online schools that are complete, stand-alone online universities with no campuses, no football teams or fraternities. Whether you want to earn an associate degree online, a bachelor’s degree online or a masters or doctorate degree online, know that most online programs are fully accredited, but make sure to check it out before you enroll.