Data Analysis Skills Are in High Demand

Eric Baumbach, Willowbrook pic

Eric Baumbach, Willowbrook

Eric Baumbach of Willowbrook, Illinois, previously served a lifeguard in the nearby community of Burr Ridge. Currently, he is the data analyst chair of service fraternity Alpha Phi Omega at the University of Illinois at Urbana-Champaign. In this capacity, Eric Baumbach of Willowbrook is responsible for conducting research on the fraternity and analyzing that research to determine any useful findings.

Data analysis is becoming a lost art. According to an article in the Journal of Accountancy, the skill is diminishing especially within finance teams. The article references a recent survey report conducted by Robert Half and the Institute of Management Accountants (IMA) that shows that only 46 percent of managers who regarded the ability to identify data trends as an essential skill for success said their teams had such skills.

By enhancing their data analysis abilities, finance professionals can improve their job prospects. Similarly, companies can increase their chances of hiring talented staff by adding data analysis skills training to their recruitment packages.

Advertisements

The Balance Sheet – A Snapshot of Quality

Accounting methods and analysis may provide many clues to the quality of a company. Having liquidity and being able to meet short and long term obligations is essential for any business. Lenders or investors should know that having enough working capital is essential for the success of any business.  Formulas may be used to determine a quick analysis.

For a company to meet short term obligations one might want to use the Quick Ratio:

Current Assets – inventories / Liabilities = Quick Ratio

The Current ratio helps analyze the ability of a company to cover short term obligations.  A current ratio of 2.0 or higher is generally considered attractive.

Current Assets / Current Liabilities = Current ratio

The Debt to Equity Ratio reveals the dependence on debt for the operation of the company.  Generally, the lower the number the less dependence the business has on debt for their operations.

Total Liabilities + Shareholder Equity = Debt to Equity Ratio

The cash conversion cycle (CCC) is useful to measure to view the company inventory and how it applies to production and sales and applies it to operations and terms from creditors.  A shorter work cycle indicates a better position of working capital.

Days Sayles outstanding + Days Payable Outstanding + Days Inventory Outstanding

= The Cash Conversion Cycle.

 A full understanding of the industry along with the individual business will make this analysis more useful. Using a combination of ratios may help a more complete understanding of the balance sheet and helps lenders and investors understand their risk.

A resident of Willowbrook, Illinois, Eric Baumbach is currently studying for a dual bachelor’s degree in accountancy and finance at the University of Illinois at Urbana-Champaign. He is a member of the university chapter of the Alpha Phi Omega service fraternity, served as past director of finance and as a member of several committees. He also serves as a volunteer consultant for entreCORPS, an organization dedicated to developing and offering the best solutions to startups, municipalities and businesses.

Three Tips to Improve Your Jump Shot

 

Jump Shot pic

Jump Shot
Image: usab.com

Eric Baumbach of Willowbrook, Illinois, is currently pursuing his bachelor’s degree in accountancy and finance from the University of Illinois. Also an athlete, Eric Baumbach of Willowbrook has worked as a lifeguard at Five Seasons Sports Club in Burr Ridge and is a former high school basketball player.

Improving your basketball shot is one way to guarantee you more play time. Here are a few tips to improve your shot:

1) Practice fast. Practicing at top speed is a great way to challenge yourself and better your chances of landing a shot off the dribble or off the pass. Once you are good at a shooting drill, try to do it faster without losing form.

2) Integrate footwork in your routine. Poor footwork is the main reason for off-target shots. When practicing, align your feet to give yourself a firm stance to generate the power needed for a winning jump.

3) Work on lowering your center of gravity. A low center of gravity is essential for quicker shots with more control. Squats, lunges, and dead lifts are exercises that lower your center of gravity.

National Society of Collegiate Scholars Offers Scholarcon in Orlando

National Society of Collegiate Scholars pic

National Society of Collegiate Scholars
Image: nscs.org

Eric Baumbach of Willowbrook, Illinois was inducted into the National Society of Collegiate Scholars in 2015. The society is an interdisciplinary organization for first and second year college students. Eric Baumbach achieved this honor based on his grade point average and class standing at the University of Illinois.

Every year, the National Society of Collegiate Scholars hosts Scholarcon, a three-day conference for college students that aims to help students define and develop their career path. The 2016 conference will take place June 9-12 in Orlando, Florida.

Scholarcon features over 45 career focused break-out sessions covering topics including resume writing, interview skills, and the basics of networking. A career fair is an integral part of the conference. Here, students can meet potential employers and begin their job search. Industry-specific panels on topics such as technology and higher education will also be offered.

Several notable speakers from a wide range of professions will be featured at the conference. Medal of Honor recipient Florent Groberg will speak, as well as anti-bullying activist Lizzie Velasquez; another highlighted speaker will be teen scientist and cancer researcher Jack Andraka.

Nutritional Education At The Northern Illinois Food Bank

Northern Illinois Food Bank  Image: solvehungertoday.org

Northern Illinois Food Bank
Image: solvehungertoday.org

Eric Baumbach of Willowbrook, Illinois is currently pursuing a bachelor’s degree in finance and accountancy at the University of Illinois at Urbana-Champaign. Involved with several charitable organizations in his Willowbrook community and the Burr Ridge area, Eric Baumbach has done volunteer work for the Northern Illinois Food Bank in Geneva, helping to prepare donations for food assistance programs in the area.

The Northern Illinois Food Bank offers many programs to support the food and nutrition needs of the surrounding communities, including a complete nutrition education program geared for school-aged children between the ages of five and twelve years old. The program uses the USDA My Plate model as the basis for a curriculum that teaches kids about nutritious foods and healthy eating.

The nutrition education program offered through the food bank provides educators with a complete curriculum for each of the food groups in the USDA My Plate model (grains, proteins, dairy, fruits, and vegetables). Curriculums follow a four-lesson format, and each segment includes a video portion, leading the teacher through a sample class, a teacher guide, a suggested activity, a recipe, and a grocery list. For example, one lesson within the vegetable curriculum is called Dip Cups. Kids are introduced to several raw vegetables, learn about their nutritional benefits and how to safely prepare the veggies, and then get to work with classmates to prepare a healthful ranch dip.

Considerations before Investing in the Stock Market

Investing pic

Investing
Image: money.usnews.com

Eric Baumbach of Willowbrook, Illinois, studies accountancy and finance at the University of Illinois. In addition to his studies, Mr. Baumbach has gained diverse work and service experience, having worked as a lifeguard at the Five Seasons Sports Club in Burr Ridge, Illinois, and having served as the leader of a local chapter of the Soldiers’ Angels. Beyond his scholarly focus, Eric Baumbach is interested in investment theory and the stock market.

The following three factors are just a few of many important considerations when planning to invest.

1. Think ahead. There is a difference between funds you will withdraw in the next five years and funds you plan to save for later in life. Perform due diligence to find stocks and investment vehicles that match the time frame of your investment.

2. Know your risk tolerance. Some investments are higher risk (more chance of loss), but appreciate at a faster rate, while others are lower risk, generally building interest more slowly.

3. Maintain realistic expectations. Some stocks produce high returns, while others generate are quite small. Although a given stock may generate an unusually high return, understand this could be luck and that most stocks grow over time. A single investment may offer both options, fluctuating over the course of many years. Be conscious of expectations and how they are affecting the decision-making process.