Verbal marathon

I made a grave error of replying to a silly ANGRY comment from the ex super disgruntled leader




And it continues




















And please, I am not working for the church and uhm the church or my dear cg members never really did feed me with those case details.. But seriously, what's so different about accounting for not for profit org and profit making org? And please, I was appointed hon. treasurer for the iras recreational club for two years (a yr as assistant, a year as the treasurer) so I did accounting for such organization then (it's registered with ACRA as a society). And nope, the accounting is still the same as corporate world!

And yes, I do think that this chap is seriously warped in his thinking cuz this morning I was greeted with his super cynical updates.



Is he talking about himself??


And again his previous view on a director's opinion.



Hello! My company's directors don't even know of my existence! And they certainly has no part in getting me employed! And please, there are executive (on the monthly payroll n really work in the org) and non-executive director (those just receive director fees)..

And for goodness sake, SQ & MAL aren't related.. Why drawing mindless analogy again!

Sigh.. I will refrain from commenting on his pathetic status to avoid verbal diarrhea exchanges. :)


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Shells.. SPV..

Reading trending news lately and a man on the street might be overwhelmed with the jargons used..

Shell company..
Wikipedia explained that a
Shell Company"it is a company which serves as a vehicle for business transactions without itself having any significant assets or operations"..

Well, I can tell you that many big corporations set up SPVs (special purpose vehicle) for different projects. Is it legal?

Well SPV aren't vehicles you drive on the road. Citing Wikipedia again, SPV is "A special purpose entity (SPE; or, in Europe and India, special purpose vehicle/SPV, or, in some cases in each EU jurisdiction – FVC financial vehicle corporation) is a legal entity (usually a limited company of some type or, sometimes, a limited partnership) created to fulfill narrow, specific or temporary objectives. SPEs are typically used by companies to isolate the firm from financial risk. They are also commonly used to hide debt (inflating profits), hide ownership, and obscure relationships between different entities which are in fact related to each other (see Enron). Normally a company will transfer assets to the SPE for management or use the SPE to finance a large project thereby achieving a narrow set of goals without putting the entire firm at risk. SPEs are also commonly used in complex financings to separate different layers of equity infusion. Commonly created and registered in tax havens, SPE's allow tax avoidance strategies unavailable in the home district. Round-tripping is one such strategy. In addition, they are commonly used to own a single asset and associated permits and contract rights (such as an apartment building or a power plant), to allow for easier transfer of that asset...."

See the familiar word? Round-tripping.. ;)

Ok, SPVs are commonly used in the corporate world, yeah, local MNCs too..

But though SPV is a form of 'creative accounting', - accounting practices that are controversial, it doesn't always equate to 'compliance failure' to the governing legislation'. Same applies to 'shell companies'.

So don't necessary jump into conclusions that companies falling into these structures are definitely part of a scam.. Though these structures may be subject to abuse..

Well, if all companies, organizations that have such companies are considered as highly likely of committing wrongful activities... Hmmm many of the big names out there will actually fall into this category!

Anyway, in my short stint in the local stock exchange as a sr financial exec, I keep the books of such entities but I'm under the payroll of the local stock exchange.. And nope, there is nothing wrong with that.. And some of these companies are investment holding companies.. Some are deriving trade income.. But accounting functions all in HQ, however management fees are charged in respect of these services..

And yes, even in my current org, a local well-established MNC, this applies too :) so is this a mal-accounting practice? U decide..

And yes, there are related party transactions.. Nothing to be wow about! Just make sure they are pegged to market rate..

Well the papers n social media commentators (whose credentials aren't verified) make it seems like a big deal on the SPV n related party transactions...

Oh well.. If God's money has been misappropriated, I'm sure they (the accused ones) would not have survived for so long.. :)

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Aunt agony

Trouble of being observant, you are sensitive to the surroundings - 职业病。

Was on the phone with a friend whereby I'd unknowingly knowing played a chaperon to this afternoon/evening.

Turned out my sixth sense is uhm right. Bad thing is that uhm my friend is not interested in this chap.. But she felt guilty not to reciprocate the sentiments, and wanted to break the news to him after like giving answer after trial period of 3-4 months (cuz my friend barely knew him until recently).

Personally, the chap is a nice guy, but matter of fact is that I asked more about him as in (during time spent today as the lightbulb) than her (she didn't even felt led to find out more after all these while!)

My friend is nice, she didn't wanted to bruise the ego or crush his heart to reject him outright. Cuz she felt guilty not giving him a shot (despite no mutual feeling n felt stressed n awkward in alone moments with him).

He so reminded me of the persistent random guy (yes from church) that uhm tried to befriend me over Friendster (oh yes, Friendster, many years ago) and so decided to ask me to be the gf after one day of chatting.. And I was so terrified of him that I've got the Cgl to uhm talk to him cuz he started to msg me every now and then called me cuz he wanna hear my voice.. (=.=)

Okay, the similarity is that declaration of interest after the short time of being acquainted.. Other than that, this chap is actually quite alright..

My take: it's not one's fault if he is interested in you n you aren't obligated to reciprocate the feelings. Hence no need to feel guilty about it if you tell him the big fat no!

But my friend being the nice gal, felt so troubled to reveal him the truth. Sometimes, being nice has a price..

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Coincidence or ...

It's not easy to differentiate what's coincidence or in His accordance...

Incident 1- coincidence...

I bumped into one of my JC mates, my V&R ( ventures & rovers - oh yes, i was a sea scout in JC) captain, at ECP this morning while doing my weekly long run. He was running with his friends, while I decided to start earlier with my two other running friends instead of starting with the public who was joining the lead up run.. Pure coincidence that we bump into each other since i don't run at ECP that often and he only runs on Sat fortnightly there...

Thought that ran thru my mind after the chance encounter .. When I was in JC.. I must have been the most unfit among the troop.. Lol and needless to say running was my worst enemy.. And I was usually among the last... But then again, who in the right frame of mind will carry spars ( logs) to run?? Haunting yet fond memories of running around Bukit Timah area came to mind.. Truly never say never.. I never thought that I will ever run a race... Let alone a marathon.. ( To date, it's 5 done & still counting ...)

Well with God, nothing is impossible..

Then it's evening coincidental event...
Not sure if this is merely a coincidence or His way of unfolding what is to come... Well if it's the latter, this is not how I would expect to be .. But it may be my creative mind at work... Whatever, see how He leads... :p

Watch and see. :0


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Thankfulness

Received a surprise whatsapp covo from another friend whose wedding I've attended before the food-poisoning-incident on my way home..

She sounded eggcited and was full of thanks cuz she was touched by what i gave when she went thru the list (I think the list was the gifts that friends/ relatives gave for their wedding). Not that I gave a huge amount but it was certainly covered more than what my dinner cost. And i sowed back the the Ang pow $ the couple gave for helping them out in the lil deco that I've did for them - Foc cuz felt led to ;) well more blessed to give than receive right? Anyway I've fun doing the gift box n flower baskets ;) and a cheap thrill to see the flower girls to continue carrying my DIY Daiso creations ard the shoppe area after the matrimony ;)

Sad to hear that they were slightly short of breaking even for the wedding but at least it was not a huge figure.

Oh well, from the look of the invited guests, I would have presumed that it will at least breakeven, since I guess as friends, let alone relatives, you would want to bless the wedding couple right. So if u can't give extra, at least cover your share of dinner? Cuz I don't believe in free lunches (alright, unless you qualify to be considered needy)

Happy to be a blessing!

Hopefully no shortfall when it comes to my turn (if it comes) since the principle of sowing n reaping should apply!
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03.01.13

Three days of 2013 have passed and I've probably slept more than 40% of it away, thanks to the last wedding of the year I'd attended on the eve of New Year's Eve..
Thought it was my bad habit of irregular meal that trigger my gastric pains on new year day (which paved another day of rest for me on 2nd Jan). Realized that 14 of my colleagues who attended the wedding luncheon, as my friend - the bride herself, suffered from symptoms of food poisoning (with varying severity)..

Nice wedding favor though .. No snapshots of the food.. No particular reason perhaps had an inkling that pictures will render some unpleasant memories? ;(
Oh well at least I got a day of beauty sleep of more than 12 hours on Wednesday! ;)
Hmmm the hotel actually reported to MOH voluntarily after my friend feedback to the hotel on the incident .. And now MOH is investigating the matter. I guess the proactive approach brings more pros than cons.. Imagine the negative press that may arise should they simply ignore the feedback..
Oh well.. I seriously don't mind the extra day of rest minus the nausea, bloated feeling, fever, body aches, headache, dizziness.. Which i had dismissed as pms - perhaps it was a mixture ..
Too bad, I won't be able to assist in the stool test cuz the sample will certainly be tainted as my personal diagnosis of one the probable cause of my symptoms is proven correct. Sigh.
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