Q 2- Part A

You are evaluating audit results for assets in the audit of Roberts Manufacturing. You set the preliminary judgment about materiality at $50,000. The account balances, performance materiality, and estimated overstatements in the accounts are show next.

Required:

1. Assume you tested inventory amounts totaling $1,000,000 and found $10,000 in overstatements. Ignoring sampling risk, what is your estimate of the total misstatement in inventory?
2. Based on the audit of the assets accounts and ignoring other accounts, are the overall financial statements acceptable? Explain.
3. What do you believe the auditor should do in the circumstances? (1 mark)

Q 2-Part B

Bill Gates is planning the audit of the investments account for audit client Garden Supply Co.(GSC). GSC invests excess cash at the end of the summer sales season through an investment manager who invests in equity and debt securities for GSC’s account. Bill has assessed the following risks as low, medium, or high for the relevant balance-related audit objectives in the investment account.      

Required:

1. Describe each of the four identified risks in the columns of the table above.
2. Fill in the blank for planned detection risk for each balance-related audit objective using the terms low, medium, or high.
3. Which audit objectives require the greatest amount of evidence and which require the least? (1 mark)
4. Through audit testing, Bill finds the investment manager’s controls over recording purchases and sales of securities are not as effective as originally assessed. What should Bill do? (1 mark)

A mass weighing 4 N is attached to a spring whose constant is 2 N/m. The medium offers a damping force that is numerically equal to the instantaneous velocity. The mass is initially released from a point 1 m above the equilibrium position with a downward velocity of 6 m/s. Determine the time at which the mass passes through the equilibrium position. (Use

g = 9.8 m/s²

for the acceleration due to gravity.)

14​

  s

Find the time after the mass passes through the equilibrium position at which the mass attains its extreme displacement from the equilibrium position.

38​

  s

What is the position of the mass at this instant?

Question 2 (Note this question is from the Week 4 Tutorial) (a) What are the most common reasons for a corporation to reduce its share capital? (b) What are the allowable methods of reducing share capital? (c) Discuss the differences between a share buyback and a capital reduction. (d) What are the different types of debt instruments discussed in this unit? (1 mark)

My retirement monies are invested at tiaacref.org - pick at least 2 funds, at most 4 funds at tiaacref where my monies should be invested and tell me why. Your reason should be convincing! I'm 57 yrs old and plan to retire at age 66. If the market dips can I ride it out? What's the longest time between a market dip (Dow or S&P 500) and it returning back to the before dip value.

A mass weighing 4 N is attached to a spring whose constant is 2 N/m. The medium offers a damping force that is numerically equal to the instantaneous velocity. The mass is initially released from a point 1 m above the equilibrium position with a downward velocity of 6 m/s. Determine the time at which the mass passes through the equilibrium position. (Use

g = 9.8 m/s²

for the acceleration due to gravity.)

s

Find the time after the mass passes through the equilibrium position at which the mass attains its extreme displacement from the equilibrium position.

   s

What is the position of the mass at this instant?

   m

prove or disprove .if n is a non negative integer, then 5 divides 2 ⋅ 4^n + 3⋅9^n.

Electromagnetic Waves :

Region1 for which μr1 =2 is defined by x<0 and μr2 =4 for x>0. Given H1 =6 i+4.5j-9 k A/m. Show that θ2=19.7 deg and H2 =7.12 A/m. Find also E and D.

2. What is the agency problem?

3. What is meant by financial managernent? 4. How are the IFRS implemented in Oman?

My retirement monies are invested at tiaacref.org - pick at least 2 funds, at most 4 funds at tiaacref where my monies should be invested and tell me why. Your reason should be convincing! I'm 57 yrs old and plan to retire at age 66. If the market dips can I ride it out? What's the longest time between a market dip (Dow or S&P 500) and it returning back to the before dip value.