Daniel T. Winkler wrote a letter recommending Eugene Bunga for employment. Winkler was Bunga's professor in a Financial Management course. Bunga proved himself to be a strong student who received one of only 15 "A" grades out of 50 students in the class, putting him in the top 20%. Bunga displayed consistent strong performance, receiving almost all "A" grades on exams and cases. Winkler observed that in team cases, Bunga showed clear analytical skills and the ability to communicate well with others. Overall, Winkler highly recommends Bunga for a responsible position based on his knowledge and skills.

1. Daniel T. Winkler, Ph.D.
Professor and Department Head
Department of Accounting and Finance
Bryan School of Business and Economics
383-D Bryan School
PO Box 26170, Greensboro, NC 27402-6170
336.256.0530 Phone 336.334.4706 Fax
DT_Winkler@uncg.edu www.uncg.edu/bae/acc/
October 17, 2014
Dear Sir or Madam:
I am writing this letter to recommend Mr. Eugene Bunga for employmen. He was a student in my
Financial Management (MBA 707) course during the Fall 2012 semester, and I know him reasonably well
as a student. Mr. Bunga proved himself to be a strong student in my class, and he has many years of
experience in the fields of finance and accounting. He has served as a treasurer, chief of accountancy and
finance, and acted as a consultant. In addition to possessing a Master of Engineering degree, Mr. Bunga
completed his MBA at the University of North Carolina at Greensboro with a concentration in Finance. I
would like to comment in more detail on his performance in my MBA 707 class.
Mr Bunga was one of the strongest performing students in my class. Of the 50 students enrolled in my
class, he was one of only 15 to receive an “A” grade; his ranking is 10th
putting him in the top 20% of the
class. This is an admirable achievement because the competition among students is strong, and these are
evening students who work in responsible positions and complete their MBA on weeknights.
In addition to a strong overall grade performance, Mr. Bunga displayed very consistent performance,
receiving almost all “A” grades on all exams and cases; the one exception is one B+ grade on the first of
three exams. With regard to the two case write-ups, both cases were team projects; one involved working
capital management and the other cost of capital estimation. I kept a copy of the case assignments and my
remarks so I am able to provide more detail. In the working capital case, he displayed a strong knowledge
of finance principles in the areas of developing and interpreting a statement of cash flow, in the calculation
of the cash conversion cycle and in collectively pooling this information with his teammates to write an
excellent case analysis. In the second case, Mr. Bunga was responsible for the estimation of the cost of
capital including the inputs to the components and weights. His calculations were correct, and together
with his teammates, they submitted an impressive case analysis.
In summary, in the sections of the papers written by Mr. Bunga, they show clear thought, strong analytical
skills and a very good ability to communicate with others. Mr. Bunga also had good attendance and
participation in the class. Therefore, it was a pleasure to have him as a student, and he contributed much to
his team and the class as a whole.
On the basis of my knowledge of Mr. Bunga, I can highly recommend him for employment in a responsible
position that will utilize his knowledge and skills.
Sincerely,
Daniel T. Winkler,
Professor and Department Head