Punzi's Corner Blog: Increasing Wealth

Thursday, May 22, 2008
This day in history from:

Increasing Wealth

How do you explain an increase in wealth of a government official who is not paid a competitive salary?

Is this answer correct?

Presidential Management Staff chief Cerge Remonde said the jump in Mrs. Arroyo’s assets in 2007 was just “natural” due to increasing value of real estate in the country.
“Let us not forget that the President’s husband came from an old rich family, which own large (tracts of) land and the value of real property is really increasing so we should not give malice to it, it’s just natural for her assets to grow,” he said. (from this link)

WRONG!

Any accountant will tell you that assets are recorded based on acquisition cost and not on market value. Acquisition costs cannot appreciate over time and any increase in market value of any asset is only recorded when such asset is sold at that value.

So I suggest you go back to your accountant for a better answer. I won't give you an unsolicited one.

Disaster relief, sustainable development & community service

Side Prayers

PRAYER FOR GENEROSITY
Lord Jesus,
Teach me to be generous,
Teach me to serve You as You deserve
To give and not to count the cost,
To fight and not to heed the wounds,
To toil and not to seek for rest,
To labor and not to ask for reward,
except that of knowing
That I do Your Holy Will. Amen

THE LAWYER'S PRAYER
May every word I speak be from Your Truth...
I ask come from Your Wisdom...
May every case I handle receive Your Guidance...
May every heart, every life I touch, feel Your Love.

THE JABEZ PRAYER
And Jabez called on the God of Israel saying,
"Oh, that You would bless me indeed,
and enlarge my territory,
that Your Hand be with me,
that You would keep me from evil,
that I may not cause pain."

So God granted him what he requested.

Side Oath

The Lawyer's Oath
I do solemnly swear that
I will maintain allegiance to
the Republic of the Philippines,
I will support its Constitution
and obey the laws as well as
the legal orders of the
duly constituted authorities therein;
I will do no falsehood,
nor consent to the doing of any in court;
I will not wittingly or willingly
promote or sue any groundless,
false or unlawful suit,
nor give aid nor consent to the same;
I will delay no man for money or malice,
and will conduct myself as a lawyer
according to the best of my knowledge
and discretion with all good fidelity
as well to the courts as to my clients;
and I impose upon myself this voluntary obligation
without any mental reservation
or purpose of evasion.
So help me God.

Shameless Sideplugs