Wednesday, October 10, 2018

IA02



I interviewed Elayna Burdelski. She is a junior here at Chatham University. She is majoring in Accounting and she is also completing the application process to join the MAcc program. She is doing the MAcc program because public accounting firms only hire full-time if you are in the process of completing your 150 credits to obtain your CPA. It is also hard to get internships in the public accounting field if you aren’t in the course. Her main focus is tax and managerial accounting because she really enjoys those two. She is leaning towards taxes because of the one program that she has volunteered at for the past two years. This program helps people of lower income do their taxes. She really enjoys helping out with this program. She is the President of the Accounting club and she is also a member of the Entrepreneurship club.
            One of the study strategies that has helped her through the years with her accounting classes would be to make a study guide and review the book. When reviewing the book, it’s best to look over the problems and also to look over some of the vocab. Another study strategy is to look over the homework that the professor gives before the exams. This will help a lot with the different types of problems that might be on the test. Her last test strategy that she says helps her a lot is to change the numbers in the problems, so then they are new problems but have the same concepts.
            When it comes to building a good resume, Elayna believes that joining clubs, volunteering, and putting yourself out there really helps. The more clubs that you join and the more events you volunteer at help make your resumes look good. She also said that putting yourself out there to work at different internships or volunteer events even if you might not like it because it will help you narrow down the areas of accounting that you know will like, but also making your resume look good. Elayna said that Handshake is one way to find good on-campus or off-campus jobs to help build your resume. She also said that networking is another great way to meet new people but also find good jobs off and on campus that will help build your resume for the profession you are pursuing. Some of the ways that Elayna benefits from different campus events and mixers is to set out of your comfort zone and talk to new people. Also, to follow up with the people you talked to when you get their business card and maybe even give them your resume. Elayna also talks to different businesses that she is interested in when it’s time to get a good internship for summer. Her main point over all is to try new things to build your skills, add to your resume, and to also figure out what you do and don’t like.
            Elayna compares to Rachel Kolar from the MAcc Student Spotlight: Rachel Kolar article. Rachel is currently completing an Integrated Degree Program to receive a Master’s in Accounting in five years. Rachel has completed her undergraduate studies in April, 2018 and will complete her Master’s degree in April, 2019. She started her college experience at the University of West Florida but decided to return to Pennsylvania. Rachel chose Accounting because she has always enjoyed being organized and she sees a positive job market in the accounting field. She also loves the tax law aspect in accounting which is one of the fields that Elayna loves. Rachel is also a part of the Accounting club which Elayna is the President of.



Chhabra, A. (2018, September 17). MAcc Student Spotlight: Rachel Kolar. Retrieved September 30, 2018, from http://blogs.chatham.edu/businessblogs/2018/09/17/macc-student-spotlight-rachel-kolar/


Thursday, September 27, 2018

IA01


On September 25th Michael Kors announced that they were buying Versace for 2.1 billion dollars. The Versace family currently own 80 percent of the business and the other 20 percent is owned by Blackstone. Michael Kors’s share price fell by almost a tenth after the news came out about the deal with Versace. The is part of Michaels Kors’s effort to become a luxury-brand company like Dior and Givenchy. Michael Kors has recently decreased the sale of its items at off-price shops. Michael Kors is also renaming itself Capri Holdings. Capri Holdings is inspired by the Italian island and the threes towering rocks off its coast. Michael Kors wants the three rocks to symbolize the three brands that the company plans to build its future with: Michael Kors, Versace, and Jimmy Choo, an upscale shoemaker that Michael Kors bought in 2017 for 1.35 billion dollars.
The main concept that I learned from this reading is that if your company wants to grow one of the ways is to expand to new companies. Since Michael Kors wanted to expand into the luxury brand they went and bought two luxury brands to add to their company. This was probably a part of their business plan. There was also probably a lot of planning that went into this deal between the three companies.
A business plan is a plan or blueprint for the company. When developing your business plan, you have to make strategic decisions in the areas of management, operations, marketing, accounting, and finance. A business plan makes you analyze your business concept and the industry that you will be operating in and it also helps to determine how you can gain a percentage of sales in that industry. So, since Michael Kors is revamping its entire company they are probably going to need a new business plan to get investors. The other concept is planning which is when you set goals and determine the best way to achieve them. Michael Kors probably had to do a lot of planning to be able to reach their goal of becoming a new company.
My plans for IA02 is to interview someone next week and have the interview written up and ready before it’s due. For IA03, I plan on starting it after IA02 and get it done before it is due. I haven’t really started to plan this one yet. For IA04, I have already been to a networking event and plan on writing the post soon. Lastly for IA05, I plan on doing this post after a speaker that I really enjoyed listening to and plan on getting this one done before it is due also.



Michael Kors splurges on Versace. (2018, September 26). Retrieved September 26, 2018, from https://www.economist.com/business/2018/09/26/michael-kors-splurges-on-versace