The Power of Focus - Habits Determine Your Future (Part 2)

- relevant to all who wants progress in life. I recommend and encourage you to spread this information to your juniors and friends.

Pic 01 : Highest paid athlete in USA. Was he simply taking a swing with the golf stick that puts him top of the game?

Pic 02 & Pic 03: Can you do the stunts above on first try? Take a week? a month? Hmmm... I think it takes a lifetime of good discipline and successful habits.

CHANGING HABITS TAKE TIME

You will turn your negatives into positives by changing your habits now. Change takes an instant to occur and time to mature. Your change goes into effect the moment you choose to change. That very instant! But it will take some time to see your changes mature to where you can enjoy the fruit of your improvements. Your change will take time because developing success habits takes time.

Of course, with ongoing exams currently, you may say that its bit too late to change. While I agree with you but don't forget you need this quality to succeed in career, higher ACCA paper levels (Professional Stage) and life.

How much time does it actually take to change a habit? The most common response is 21 days. Studies have shown that if you practice a new habit for an average of 21 days or longer in some cases, it actually becomes easier to do the new habit then it is NOT to do the new habit.
This is just a baseline. For any habit you want to change you must ask yourself how long you've owned that habit. Some habits will take longer to change depending on how long and how often they have been practiced. Give yourself reasonable time to adopt new belief systems and new success habits. If you have been dealing with low self esteem for 15 years, it may take you longer than 21 days to change that belief system (yes, belief systems are habits also). On the other hand you could break the bad habit of thinking poorly about yourself in an instant and create your brand new life overnight. There aren't any limits but you must be fair and objective about your rate of change.

NOT REGRESS
The important thing above all will be to remain committed to establishing new habits that build a better future and not falling back into old habits that will only produce the same unhappiness and failure that you may be trying to move away from.

A powerful quote says:
"If you keep on doing what you've always done, then you will keep on getting what you've always got."

This is awesome! By systematically changing one behavior at time you can dramatically improve your overall lifestyle! Once your new habit becomes well developed, it becomes your new normal behavior.

HABITS FORMING STRATEGY
Identify Bad Habits and Replace Them , so if success is based on successful habits you be asking, "How do I identify bad habits?". Bad habits on those actions that cause you to be unproductive and hold you back from realizing your best life now. Examine yourself and ask others about bad habits you have. Only ask people you respect and admire and know you well. You need to hear from people that are for you and not against you.

Your habits and beliefs systems are a product of your environment. Birds of a feather, flock together as the saying goes. This is true! Ever heard of the saying, "Tell me who your friends are and I will tell you who you are." You will pick up and practice those habits and beliefs that are common to your environment. But when you decide to change there is no stopping you. Reach out for and study the successful habits of those who've attained the success you desire. Practice what they do and elevate yourself. Read inspirations stories, visit this blog often to remind yourself what is your purpose in College, watch documentaries on success and the successful.

PRACTICE AND REPEAT
Develop the habit of changing your habits. Change will be you always. Adapt and implement habits that will continually reward with the life you desire. If a habit no longer yields success motivation and positive change, replace with a new habit. Just with thoughts, habits cannot be dropped. Habits are displaced through replacement.

Pic 04: Do you think his culinery skills were developed overnight?

Here is the three step successful habits formula :

1. Clearly identify your bad or unproductive habits.

You at your behavior for now and in the future to get a realistic and objective understanding of how a habit may be unproductive or bad for you. Some habits have a slow burn effect and the results aren't realized until years later. Smoking is a classic example. If you looking at a smoking habit one day at a time, it may not seem as damaging as it actually is. If you view this habit over a lifetime then you can begin to appreciate the the consequences for choosing to change this habit or not change this habit.

2. Define your new successful habit.

Identify your new habits and describe in vivid detail the "benetifs" of acquiring this new habit. You will boost your success motivation when you can clear envision the rewards for successful change. Remember that to obtain the success you desire you must be will to do things today that will create your desire changed for tomorrow. The clearer a vision you have of your rewards and benefits for change, the more likely you are to take action.

Pic 05: KPMG Tower in Sao Paolo, Brazil. Do you have successful habit to be there at the top (CAREER)?

3. Create a 3 Part Action Plan. Decide on 3 immediate actions that you will take to replace your old habit and establish your new successful habit. Start with one habit and take action. You must know exactly what actions you will take to create your new success. It could be reading a book, establishing an accountability partner, going to a support group, or joining a coaching club.

Conclusion

The bottom line is that nothing will change in your life until you do. To learn more about the how you obtain successful habits that will create a successful future for your life I recommend reading The Power of Focus by Jack Canfield, Mark Victor Hansen and Les Hewitt and Seven Highly Effective Habits by Steven Covey

Useful links:

1. The Power of Focus - Habits Determine Your Future (Part 1), http://marcusong88.blogspot.com/2008/11/power-of-focus-habits-determine-your_19.html
2. http://marcusong88.blogspot.com/2008/10/how-to-cope-with-stress.html
3. http://marcusong88.blogspot.com/2008/09/bill-gates-bad-role-model.html
4. http://marcusong88.blogspot.com/2008/08/life-as-student.html

BPR Answers to Jerry Yan

- relevant to P3 IRC (ACCA)

(note: Steve Skidmore dislikes the practice of BPR as opposed to re-designing process, so please remember to criticise the tool's risk - radical and risk of spectacular failure if system(s) is unacceptable to market.)

CASE STUDY ON BOOKS SALE (10 marks)

ANSWER (a)

Business Process Reengineering is a change to organization which is
‘fundamental’, ‘radical’, ‘processes are new’ and ‘dramatic’. JY can change its main processes replaced by new processes.

BPR principles and applications to JY business:

BPR RECOMMENDATION 1:
- customer-focused outcome : faster supplies for JY instead of weeks to deliver for rare books, less costly to customers and provide rich content information enable customers to better self-select books wanted.
- Customers can be made to ‘process’ the information where they perform a review of certain books. This promotes more perspective on books review to complement the existing critiques.
- Information gathering and information processing are the same process so that there is no distinction between the both category. Allows higher accuracy in information management.
- Centralized all information despite JY has to source from many suppliers. JY can increase its bargaining powers by concentrating orders as a single entity. Have a record on how many books it buys from a specific supplier over a time period. Greater bulk discount given if volume is large. - Warehouse can be eliminated. Use e-business tools to link directly between suppliers and customers.
- Offer greater autonomy for website managers to control quality content instead of allowing freelancers the powers (not allow them to direct the information content on website).
- Information should be captured at source.

BPR RECOMMENDATION 2:

- closures of warehouse

- ceased shipments of books

- ceased courier distribution of books

- convert classic books to e-books format. That way, its virtual delivery of instant download where customers pay per page or per chapter.

- compile books under copyright and negotiate to pay royalties to printers for every sale of e-books. Recommend 65-35 profit share arrange in favour of printers/authors.
- conduct a CRM program to research on popularity of different types of books to prioritise the types of book for conversion to e-books format in view that JY has 3 million titles.

BPR PROCESS:
Step 1: develop a vision. JY to have 0 stocks through direct link to suppliers.
Step 2: processes redesigned are:
- all web news contributors be based in JY’s office. This encourage interchange of information and innovation, safe costs on relocation of hardware between freelancers, in event that one quits and another joints.
- Direct link to suppliers so that orders placed are treated as ‘triggers’ to supply
- Manage haulage networks to have efficient distribution.

Step 3: measure existing processes:
- delivery time for rare books
- number of web visitors per day
- sales conversion rate per period

step 4: identify change levers: invest in IT hardware and software handle greater volume. Empower IT committee to effect change.
Step 5: design / build prototype or outsource the software engineering program.

RISKS:
- BPR is not a cost cutting initiatives but seek to add value and fulfilling customers expectations.
- BPR mistaken as a mere ‘scientific management’ approach where it improves or simplify exiistins system taken as a ‘hollowing out’ process
- BPR has tendency of top-down approach resulting in forcing employees to adopt approaches recommended and same time restricting their innovation cabability.
- BPR risk unwittingly destroy core competencies that top strategic apex is unaware of as this is a “causal ambiguity’

The World is fair, isn't it? Egg heads also known as Masculinity.

Exam tension is peaking. Here, take a break and enjoy the following reality of life (I think).

To understand women may be futile, but nature is fair. On the scale of dumbness, men by far, judging from history, is unsurpassed. We humbly admit it but hey, you still need us to take out the garbage, right?


From Left to right:
Man 01: I have the best haircut
Man 02: Man of steel, all brawns but little brains, I mean can't he call the police or something...??
Man 03: I can afford a $300 leather jacket but not a $7 haircut
Man 04: The fear IN all men - baldness, besides stupidity, insecurity, low IQ, dead broke, rejection, dullness ...
Man 05: Genius representation of what a MAN truly is.

Conclusion : Man ego-head is actually mis-spelled - suppose to be egg head.

Because I'm a Man - so say the egg-head man [are you one?]

Because I'm a man, when I lock my keys in the car I will fiddle with a wire clothes hanger and ignore your suggestions that we call a road service until long after hypothermia has set in.

Because I'm a man, when the car isn't running very well, I will pop the hood and stare at the engine as if I know what I'm looking at. If another man shows up, one of us will say to the other, "I used to be able to fix these things, but now with all these computers and everything, I wouldn't know where to start." We will then drink beer.

Because I'm a man, when one of our appliances stops working I will insist on taking it apart, despite evidence that this will just cost me twice as much once the repair person gets here and has to put it back together.

Because I'm a man, I must hold the television remote control in my hand while I watch TV. If the thing has been misplaced, I may miss a whole show looking for it (though one time I was able to survive by holding a calculator).

Because I'm a man, I don't think we're all that lost, and no, I don't think we should stop and ask someone. Why would you listen to a complete stranger -- I mean, how the hell could he know where we're going?

Because I'm a man, I am capable of announcing, "One more beer and I really have to go", and mean it every single time I say it, even when it gets to the point that the one bar closes and my buddies and I have to go hunt down another. I will find it increasingly hilarious to have my pals call you to tell you I'll be home soon, and no, I don't understand why you threw all my clothes into the front yard. Like, what's the connection?

Because I'm a man, you don't have to ask me if I liked the movie. Chances are, if you're crying at the end of it, I didn't.

Because I'm a man, yes, I have to turn up the radio when Bruce Springsteen or The Doors comes on, and then, yes, I have to tell you every single time about how Bruce had his picture on the cover of Time and Newsweek the same day, or how Jim Morrison is buried in Paris and everyone visits his grave. Please do not behave as if you do not find this fascinating.

Because I'm a man, I think what you're wearing is fine. I thought what you were wearing five minutes ago was fine, too. Either pair of shoes is fine. With the belt or without it looks fine. Your hair is fine. You look fine. Can we just go now?

Because I'm a man, and this is, after all, the 21st century, I will share equally in the housework. You just do the laundry, the cooking, the gardening, the cleaning, and the dishes. I'll do the rest.

THIS HAS BEEN A PUBLIC SERVICE MESSAGE FOR WOMEN, TO BETTER UNDERSTAND THE MALE ANIMAL.

Source:

Brain Candy, 2008, Because I am a Man, http://www.corsinet.com/braincandy/hgender3.html, Visited on 27th October

Humourously serious

There is this man who dwell on an island in the middle of Pacific Ocean. He found a magic lamp and promptly rub it. Pop out a genie who grants him only one wish. After a quick thought, he said , "I have always wanted to travel to Spain but am afraid of heights, hence flights route is out of question. Genie, I want you to build a bridge to link from here to Spain, so I can just drive over." The genie responded in shock, "Do you know you are asking the impossible?! You know this structure requires so much materials like concrete, piling, cement and not to mention the technology to build across the ocean to withstand unpredictable weather! No. No. This is too difficult. You have to make another wish." The man thought for a while and then requested, "I can never understand woman. Genie, I wish you can make me understand woman." The genie paused and after a long serious thought replied, "Do you want a 2-lane or 4-lane highway?"

Announcement

P3 Part time candidates : Progress Test I answers are released via e-mail.

F8 PT2 ANSWERS 3

Lecturer's comments: this is a very popular exam question. It pays to scrutinise every single detail and understand the application. Alan Lewin could easily make this a 12 mark question.

FINANCIAL STATEMENT
• TYPES OF RISKS
- ASSERTION WORKS

Revenue
• BUSINESS
- CLASSIFICATION: Check the accounting policy for revenue recognition particularly in respect of software licences to ensure that it has been applied consistently and in accordance with accounting standards.
• INHERENT
- COMPLETENESS: Obtain a breakdown of sales on a monthly basis and discuss significant fluctuations with management. Any explanations should be corroborated.
• DETECTION
- OCCURRENCE: Perform tests of controls on controls over the processing of sales orders and invoicing. Sample sizes should reflect the increased risk.
• DETECTION
- EXISTENCE: For a sample of sales transactions perform substantive procedures tracing the transaction from the initial order to the posting in the ledgers. The sample size would be affected by the results of the tests of controls.
• CONTROL
- CUT-OFF: Check cut-off at the year end to ensure that revenue has only been recognised in relation to sales genuinely made in the accounting period.

Gross margin
• INHERENT
VALUATION: Check the basis on which costs have been capitalised as development costs. Those which do not meet the conditions of IAS 38 Intangible assets should be expensed.
• INHERENT
UNDERSTANDABILITY: The gross margin of 80% seems high in spite of the nature of the business. Obtain industry information to establish an industry average.
• INHERENT
UNDERSTANDABILITY: Compare the gross profit margin on a quarterly basis and compare with the results of the previous year. Discuss the reasons behind significant variations with management.
• CONTROL
CLASSIFICATION: Obtain a breakdown of costs included in cost of sales and compare with previous year to establish any change in the way that costs have been allocated to the expense categories.
• CONTROL
OCCURRENCE: For a sample of expenses trace the transaction from source documentation to posting in the accounts.
• CONTROL
CUT-OFF: Agree opening inventory to previous years accounts. The position statement audit should provide evidence regarding the quantity and valuation of closing inventory.
• CONTROL
CUT-OFF: In particular cut-off should be confirmed to ensure that it is in line with sales cut‑off.

Operating expenses
• INHERENT
UNDERSTANDABILITY: Compare monthly levels of expenditure with previous year and obtain explanations for any significant changes.
• CONTROL
ACCURACY: Obtain a breakdown of distribution costs, administrative expenses and selling costs. Compare the nature of the expenditure with that included in the previous
year to highlight any misclassification.
• CONTROL
CUT-OFF: Review expenses incurred after the year end to ensure that all expenses relating to the current period have been correctly accrued for.
• CONTROL
VALUATION & ACCURACY : Review the impact of depreciation on the operating expenses figures. Obtain a schedule of non-current assets and recalculate depreciation charged based on the company's policy. Confirm that this is consistent and reasonable in the light of the nature of the asset.
• DETECTION
OCCURRENCE: Perform tests of controls on controls over the processing of expenses from initiation of the transaction to posting in the ledgers.
• DETECTION
OCCURRENCE: For a sample of expenses trace the transaction from its source eg invoice to its recording in the ledgers.

Interest
• CONTROL
ACCURACY: Obtain an analysis of interest payable/receivable casted.
rates applicable to the different categories of investment.
• CONTROL
EXISTENCE: Agree interest payable to bank statements/loan agreements.
• CONTROL
ACCURACY: For interest receivable perform a proof in total calculation based on the interest For a sample of investments agree the interest actually received and accrued for to the terms of the investment.

Tax
• INHERENT
OBLIGATIONS: Obtain and review any correspondence with the tax authorities.
•INHERENT
UNDERSTANDABILITY: Discuss the calculation with management and confirm any explanations.
•DETECTION
EXISTENCE: Obtain a copy of the tax calculation to establish why it has increased so significantly.

Dividends
• INHERENT
UNDERSTANDABILITY: Discuss the rationale behind the dividend payment with management, particularly regarding sustainability.
• DETECTION
EXISTENCE: Confirm that the payment of the dividend is minuted.
• DETECTION
RIGHTS: Check that the payment does not breach legislation regarding distributable profits.

Earnings per share
* INHERENT
VALUATION: Confirm the basis on which the calculation has been performed. If additional shares have been issued confirm that the legal procedures have been complied with and establish the purpose of the share issue.
• CONTROL
ACCURACY: Reperform the EPS calculation.

HOW TO COPE WITH STRESS?

- relevant to 21st century living

Pic 01: "Oh Boy! I am so dead."

Last week has been a hectic and stressful filled activities with classes that last longer than baking a cake in an oven to last-minute cramping of facts in preparation of internal tests. The internal exams are both unnecessary and unfortunate to say the least as it has an attached condition that if you fail them, you face an over-hanging threat of expulsion from Sunway College. How can one be prepared for internal exams when its scheduled back to back with series of almost uninterrupted lectures?? Well, I am stressed too. The time table is something that I neither agree or can control nor decide. So I focused on remedial solutions namely how to cope with stress. The following are from a medical and scriptural advise which I believe you benefit if you apply them.

MEDICAL PERSPECTIVES (NON-DRUG prescriptive approach)
Pic 02 : Stress is toxic to your body, believe me, I was a student before.

Possible signs of stress
· -Anxiety
· -Back pain
· -Constipation or diarrhea
· - Depression
· - Fatigue
· -Headaches
· -High blood pressure
· -Insomnia
· -Problems with relationships
· -Shortness of breath
· -Stiff neck
· -Upset stomach
· -Weight gain or loss

What can I do to manage my stress?
The first step is to learn to recognize when you're feeling stressed. Early warning signs of stress include tension in your shoulders and neck, or clenching your hands into fists.The next step is to choose a way to deal with your stress. One way is to avoid the event or thing that leads to your stress--but often this is not possible. A second way is to change how you react to stress. This is often the best way.

Tips for dealing with stress
· Don't worry about things you can't control, such as the weather.
· Prepare to the best of your ability for events you know may be stressful, such as a exams
· Try to look at change as a positive challenge, not as a threat.
· Work to resolve conflicts with other people.
· Talk with a trusted friend, family member or counselor.
· Set realistic goals at home and at work.
· Exercise on a regular basis.
· Eat well-balanced meals and get enough sleep.
· Participate in something you don't find stressful, such as sports, social events or hobbies.

Why is exercise useful?
Exercise is a good way to deal with stress because it's a healthy way to relieve your pent-up energy and tension. It also helps you get in better shape, which makes you feel better overall


SCRIPTURAL SOLUTIONS : Healthy Ways to Face Stress
Pic 03: Have a heart to heart talk with someone you trust.

Stress is a modern-day fact of life; you cannot avoid it. You can, however, learn to cope with it. Following the principles of the Bible can help. For example, if you feel overwhelmed by some situation, remember that “there exists a friend sticking closer than a brother.” (Proverbs 18:24) Talk things over with a mature friend. “Don’t bottle it up,” says sociologist Ronald L. Pitzer. “Confide your feelings and worry to some level-headed person who is likely to understand and care.”
Pic 04: Enjoy solitude

Setting aside some time for yourself can do wonders—even if it is just a few minutes in the early morning so you can enjoy a cup of tea, read, pray, or enjoy solitude of peace.


Pics 05 & 06: Stretch the stress out. Side effect - a great body, guys!

Moderate exercise and a healthful diet are also helpful. A book on parenting reminds us: “When you spend some of your valuable time and energy on yourself, you are, in essence, filling your personal-resource bank. . . . Constantly giving means that you’ve got to be sure there’s something going back in as well, or you’ll risk becoming emotionally short-changed, if not actually bankrupt.”

In addition, the Bible helps one to develop qualities needed to cope with stress, such as “mildness of temper,” patience, and kindness. (Galatians 5:22, 23; 1 Timothy 6:11)

My thoughts:
The encouraging thing about the article is that all of us face stress but we can cope. The motivation of this article is because I care. Do try them and my sincerest wish you will come out stronger.


RELATED LINKS (PLEASE re-visit them):
http://marcusong88.blogspot.com/2008/09/bill-gates-bad-role-model.html
http://marcusong88.blogspot.com/2008/08/life-as-student.html