How do finance professionals procounce “CECL”?
"According to the following links, it is commonly pronounced ""Cecil"".   https://kaufmanrossin.com/blog/bank-ready-meet-cecil/ The proposed model introduces the concept of shifting from an incurred   loss model to the current expected credit loss model commonly referred   to as CECL (pronounced “Cecil”). http://www.gonzobanker.com/2016/02/cecl-the-blind-leading-the-blurry/ [...] and its name is CECL (Current Estimated Credit Losses, pronounced like   the name “Cecil”). The name Cecil means “blind,” which is ironic, because FASB’s upcoming   guidance will push FIs to clarify the future performance of their loan   portfolios by using models to predict CECL of all loan portfolios. https://www.linkedin.com/pulse/operational-financial-impact-cecl-banks-nikhil-deshmukh Termed as Current Expected Credit Loss (CECL, or Cecil, as some call   it), [...]"
I do understand what a creditor and equity holder is. I'm just saying my teacher NEVER brought up ponzi schemes and tied it to anything related to our accounting. He didn't think it was worth his time to go into details how ponzi schemes break accounting principles.  I also posted the question in finance as my finance courses dealt with financing money... And banks... how much capital do you have? how much capital will you need? if you don't have much capital, how do you plan to finance? what are your short-term projections? long-term projections? what assets do you need? overhead? supply chain initiatives? how ripe is the market for your idea? how do you plan to differentiate yourself from your competitors? who's your biggest competitor? what are they going to be doing 5 years out? who are your customers? have you segmented them? who are your distributors and channels? how do you plan to promote your company? I would listen to chrissundberg below.  Most professionals I meet and interact with in accounting firms, law firms, lending, and others are by the book, smart, professional, and honest in their business dealings.  Of course I have also run into a small minority that try to avoid contractual obligations or pull a fast one on the auditors, but these guys are known quickly throughout the business community and avoided.    You need to reevaluate your thoughts on government's role in business and the finance industry, which you are clearly interested in joining.  Quite frankly you won't last a week coming in most companies if you vocalize the government should do audits and business is amoral. "I think it's great that you want to contribute. Course Instructor You may want to take a look at becoming an instructor for a course like Dave Ramsey's Financial Peace University. These are commonly offered through churches and other community venues for a fee. This may be a good fit if you want to focus on basic financial literacy, setting up and sticking to a budget, and getting their financial ""house"" in order. It may not be a good fit if you don't want to teach an existing curriculum, or if you find the tenets of the course too unpalatable. A significant number of the people in Dave's audience are close to or in the middle of a financial meltdown, and so his advice includes controversial ideas such as avoiding credit altogether, often because that's how they got into their current mess. Counselor If you want to run your own show, I know of several people who have built their own practice that is run along the lines of a counselor charging hourly rates, and they work with couples who are having money problems. Building a reputation and a network of referring counselors and professionals is key here, and definitely seems like it would require a full-time commitment. I would avoid ""credit counseling"" and the like. Most of these organizations are focused on restructuring credit card debt, not spending signficant time on behavioral change. You don't need a series 7, 63, 65 etc. or even a CFA. I've previously acquired a number of these and can confirm that they are investment credentials that are intended to help you get a job and/or get more business as a broker or conventional financial planner, i.e. salesperson of securities. The licensure process is necessary to protect consumers from advice that serves the investment sales force but is bad for the consumer, and because you must be licensed to provide investment advice. There is a class of fee-only financial planners, but they primarily deal with complex issues that allow them to make money, and often give away basic personal finance advice for free in the form of articles, podcasts, etc.  Charity For part-time or free work, in my area there are also several charity organizations that help people do their taxes and provide basic budgeting and personal finance instruction, but this is very localized and may vary quite a bit depending on where you live. However, if there are none near you, you can always start one! Journalism If you have an interest in writing, there are also people who work as journalists and write columns, books, or newsletters, and it is much easier now to publish and build a network online, either on your own, through a blog or contributing to a website. Speaker at Community events There are also many opportunities to speak to a specific community such as a church or social organization. For example, where I live there are local organizations for Spanish speaking, Polish speaking, elderly, young professional, young mother and retiree groups for example, all of who might be interested in your advice on issues that specifically address their needs. Good luck!" "My experience is in economics, so it may differ from an accounting or personal finance perspective somewhat; that being said, I find it perfectly acceptable to use a term like CAGR when the rate is positive or negative. Economists talk about negative growth rates all the time, and it's universally assumed that growth rates can be positive or negative.1 Ideally, the actual magnitude and sign of the value should be specified by the value itself. The term, whether it's ""growth rate"", some modified version of it like CAGR, or any label in a table or on a graph, should describe the calculation or source used obtain the value. I shouldn't need the name to indicate the sign of the number if the number is present; the name is only there to help me understand the value. Unfortunately, I don't know of any specific term that represents the geometric averaging nature of CAGR and also eliminates the minor potential for semantic confusion. However, I think the minor problem of semantics needs to be balanced against the tradeoff of using a different term that isn't as common, if one were to exist. CAGR is a standard, well-known term that a) allows someone who is familiar with the term to instantly understand the procedure you're using, and b) allow someone who isn't familiar with it to quickly search and find an explanation, since searching for CAGR will numerous simple explanations of how it's calculated. 1. This is different from the concept of economic growth, which is usually assumed to be positive in informal discussions. In economic modeling, many of the first steps in creating a model are symbolic anyway, so ""growth rate,"", ""change in output"", and ""economic growth"" are used interchangeably to describe changes in GDP because the values either aren't known, irrelevant until later in the project, or pulled from data that describes it using one or several of the previously stated terms." Yeah, that's no typo. I could've spelled that name when I was 13, and anybody who's ever laid their hands on a finance book should be able to spell it, let alone somebody who claims to actually work there and to have traded millions on their behalf. I think that MFin is best suited for more technical roles in banks (I assume when you say IB you mean sell/buy side M&amp;A), HF, AM, and PM roles. I don't view PE, CF, or IB as technically challenging as most of the analysis is done on the areas outside of finance. I'm interested in corporate finance. Can you recommend some great inexpensive online courses for financial modeling training? (maybe something that you took and highly recommend. If no, I'll look up for them myself) I want to get familiar with it first. Don't wanna spend too much and mess up.