Welcome 2008

Each time a new year comes, everybody will start charting his or her own new resolutions. Some may carry forward, though many will write-off those resolutions which are not fulfilled. Some are not new at all - they are just an old resolutions in a new name. In an accounting sense, new resolutions are like annual budget. Not all expenses budgeted in the last period are spent, though many were overspent. Come new budget, some expenses are carried forward (capex items especially), and some are budgeted just to give a buffer for 'just-in-case' situations (which in some cases, were religiously defended during the budget challenge meeting).

Oh well, happy new year (both the Gregorian and Islamic calendar) to all of you.