Do you agree or disagree with this text?

Why?

According to the Fed Chairwoman Janet Yellen said at a press conference after the central bank’s two-day policy meeting, “at the moment the U.S. economy is performing well, the growth that we are seeing, it’s not based on, for example, an unsustainable buildup of debt, and the global economy is doing well. We’re in a synchronized expansion. This is the first time in many years we’ve seen this.[1]” It is obvious that the United States has a good economy foundation to support the increase of fed rates. Therefore, I recommend that the Federal Reserve should continue to raise the target on the federal funds rate.

As expected, the Federal Reserve raised its bench market interest rate a range between 1.5 percent and 1.75 percent on last Wednesday. Although the Fed began rising rates, the economy still has continually improved. In addition, the economy has added 197,000 jobs a month on average since the Fed began raising rates at the end of 2015. The unemployment rate has held at 4.1 percent for five months, and it is the lowest level since 2001[2].

Because of the increase Fed rates, the economy keeps growing, yet there are some concerns about low inflation persist. Nowadays, the economy has expanded at a fairly steady speed after the financial crisis, and the Fed expects to continue the growth. However, we found that the seventh straight year in which inflation has remained below the 2 percent annual pace that the Fed regards as healthy. In addition, the policymakers have continued to raise Fed rates because most of them are confident that inflation will increase as the economy to grow[3].

According to Ian Shepherdson, chief economist at Pantheon Macroeconomics, “The Fed forecasts an endless expansion, with minimal inflation pressure, despite unemployment well below their Nairu estimate, forever and interest rates peaking at 3.1 percent.[4]” Therefore, I agree with that Federal Reserve should continue to raise the target on the federal funds rate, and it brings a lot of benefits to the United States.

The following extract is taken from an announcement released to the Australian Securities Exchange by the Australian Agricultural Company:

AACo announced today its trading results for the three months to 30 September 2003 (Q1 FY04) in which unaudited revenue was $22.1 million from cattle sales equivalent to 12.6 million kilograms. Compared to the same period in 2002, revenue decreased 14%, while sales volume increased 21%. Earnings before interest and tax (EBIT) for the three months to 30 September 2003 was ($3.2) million and compares with $7.7 million in the previous corresponding period.
The decrease in earnings was primarily due to there being no mark-to- market cattle value appreciation during the quarter compared to the previous corresponding period which saw a mark to market increase to trading cattle of 7.5%.
The lack of early spring rain saw many Queensland producers increase supplies of cattle to market during the quarter with the resulting downward pressure on prices as at 30 September 2003 impacting on the valuation of AACo cattle at that date. This trend has reversed in October, with prices rising in some categories in the order of 10%. Chief Executive Officer of AACO, Mr Peter Holmes à Court said 'We sold a high volume of cattle during the quarter, although the impact of last year's drought meant that they were generally at lighter weights. Prices, however, have subsequently risen due to the short supply of quality, finished cattle.'

Source: ASX Press Release, 30 October 2003, AACo First Quarter FY04 Briefing.
Required
(a) Explain what is meant by 'mark-to-market cattle value appreciation' in the context of AASB 141 'Agriculture'.

(b) Explain why no appreciation in the market value of cattle for the quarter ending 30 September 2003 resulted in a loss of $3.2 million compared to a profit of $7.7 million in the previous corresponding period.

(c) The volatile market conditions which had an impact on the Australian Agricultural Company serve to illustrate the principal difficulty of using fair value less costs to sell for biological assets.' Critically evaluate this comment.

You are currently negotiating a book publishing deal on behalf of your client, K.J. Howling, a writer of moderate repute who specializes in horror stories.

Your client is basically happy with the standard form contract offered by the publisher, Scattered House Press (SHP). There is, however, an important exception. Howling would like to have a clause removed from the contract under which SHP would have automatic rights to publish any sequel, on the same royalty terms as the contract now under negotiation. In response to this request, SHP has replied af rmatively, but only on the condition that Howling be willing to give SHP half the royalties from any sale of movie rights on the rst book. (The current standard form contract would let Howling keep all the movie rights.)

As you discuss this swap of contract terms with Howling, you come to agree on the following: First, none of this matters unless the rst book is a hit, which has a probability of 10%.

Second, if the book is a hit, there will de nitely be a sequel (which Howling has already outlined). If Howling is able to bargain freely on the sequel, she stands to make about $1,000,000 on the new book, but she would only make about $500,000 if she were bound by the current term. (The reason is that, if the rst book is a hit, she will be able to obtain better royalty terms than she can now.)

Third, if the book is a hit, then there is a 20% chance that a year or two later some movie studio will pick Howling’s book as the basis for preparing a movie script. In that event, the movie rights would be worth about $10,000,000.

Advise Howling on whether to accept the proposed swap of contract terms. In preparing your advice, be sure that you do each of the following:

• Write down the decision tree for this problem.

• Solve it. (Be sure brie y to explain your work in some fashion that will communicate to

  Howling how you reached your conclusion.)

  In addition, you should feel free to make any additional comments you think appropriate in advising Howling. (This is not required; if you do add remarks, be brief, e.g., a paragraph or so.)

Run Python code  List as Stack  and verify the following calculations; submit screen shots in a single file.

Postfix Expression                Result

4 5 7 2 + - * = -16

3 4 + 2  * 7 / = 2

5 7 + 6 2 -  * = 48

4 2 3 5 1 - + * + = 18   

List as Stack

"""

File: pyStackPostfix.py

Author: JD

"""

# 5 7 + 6 2 -  * = 48

print("Postfix Calculator\n")

stack = []              # Empty stack

y = int(0)

z = int(0)

w = int(0)

while True:

   x = input("Enter a postfix expression one by one:")

   if x >= '0' and x<= '9':

      x = int(x)

      stack.append(x)      # Push on top of stack

   elif x == '+':          # Got an operator

      if len(stack) >= 2:

         y = stack.pop()   # Pop from top of stack

         z = stack.pop()

         w = y + z

         stack.append(w)   # Push result back

      else:

         print("Stack error") # Not enough operhand A + B

         break

   elif x == '-':

      if len(stack) >= 2:

         y = stack.pop()

         z = stack.pop()

         w = y - z

         stack.append(w)   

      else:

         print("Stack error")

         break

   elif x == '*':

      if len(stack) >= 2:

         y = stack.pop()

         z = stack.pop()

         w = y * z

         stack.append(w)   

      else:

         print("Stack error")

         break

   elif x == '/':

      if len(stack) >= 2:

         y = stack.pop()

         z = stack.pop()

         w = y / z

         stack.append(w)   

      else:

         print("Stack error")

         break

   elif x == '=':             # Equal operator

      if len(stack) == 1:

         z = stack.pop()      # Pop the result

         print (z)

         break

      else:

         print("Stack error")

         break

Postfix Calculator

Enter a postfix expression one by one:5

Enter a postfix expression one by one:7

Enter a postfix expression one by one:+

Enter a postfix expression one by one:6

Enter a postfix expression one by one:2

Enter a postfix expression one by one:-

Enter a postfix expression one by one:*

Enter a postfix expression one by one:=

48

Press any key to continue . . .

its python

Week 3 In-Class Exercise C++

Payroll

Design a PayRoll class that is an abstract data type for payroll. It has data members for an employee’s hourly pay rate, number of hours worked, and total pay for the week.

Your class must include the following member functions:

• a constructor to set the hours and pay rate as arguments,

• a default constructor to set data members to 0,

• member functions to set each of the member variables to values given as an argument(s) to the function,

• member functions to retrieve the data from each of the member variables,

• an input function that reads the values of number of hours and hourly pay rate,

• an output function that outputs the value of all data members for an employee,

• void function to calculate the total pay for a week.

The input and output functions will each have one formal parameter for the stream.

Write a program with an array of seven PayRoll objects. The program should ask the user for the number of hours each employee has worked and will then display the amount of gross pay each has earned.

Input Validation: Do not accept values greater than 60 for the number of hours

worked.

Sample Output:

Enter the hours worked and pay rate for 7 employees:

Employee #1 pay rate: 15

Employee #1 hours worked: 40

Employee #2 pay rate: 20

Employee #2 hours worked: 35

Employee #3 pay rate: 18

Employee #3 hours worked: 40

Employee #4 pay rate: 22

Employee #4 hours worked: 38

Employee #5 pay rate: 15

Employee #5 hours worked: 40

Employee #6 pay rate: 20

Employee #6 hours worked: 32

Employee #7 pay rate: 22

Employee #7 hours worked: 40

Total pay:

Employee #1: 600.00

Employee #2: 700.00

Employee #3: 720.00

Employee #4: 836.00

Employee #5: 600.00

Employee #6: 640.00

Employee #7: 880.00

Press any key to continue . . .

The following question must be answered in the C programming language and may not be written in C++ or any other variation.

Problem 5

This problem is designed to make sure you can write a program that swaps data passed into it such that the caller's data has been swapped. This is something that is done very frequently in manipulating Data Structures.

The Solution / Test Requirements

I want your program to demonstrate that you understand how to swap information passed into a function and have the calling routine print out the data before and after the call to verify the data has been swapped. Call your functions Swap and SwapStructs. Swap is a function that receives the information to swap. The information is two integers. How should Swap receive them? How should it process them? SwapStructs is a function that receives two structs to swap. How should SwapStructs receive them? How should it process them?

Your Test Main must:

1. Declare two integers and initialize them to the values 1 and -1.

2. Print out the integers.

3. Call Swap to swap the values.

4. Print out the values on return from the function.

5. Declare a struct that holds 2 integers using a typedef for the struct.

6. Dynamically allocate two separate variables using the typedef and fill the dynamically allocated structs, filling the first with the values 10 and 20 and the second with 30 and 40.

7. Print out the values in each of the structs

8. Call SwapStructs to swap the contents of the structs.

9. Print out the values in the structs on return.

10. Free the memory that was dynamically allocated.

For your convenience, here is an output of my program:

Before call..I= 1, J=-1 After call.. I=-1, J= 1

Before SwapStructs..ptr1 contains 10 and 20

Before SwapStructs..ptr2 contains 30 and 40

After SwapStructs..ptr1 contains 30 and 40

After SwapStructs..ptr2 contains 10 and 20

Process returned 0 (0x0) execution time : 0.034 s Press any key to continue.

QUESTION 2  ( 12 marks)

The following situations refers to threats to the Auditor’s independence.You are asked to state what  
the different threats to the Auditor’s independence are and explain how these threats impact on the  Auditor’s independence and any other implications for yourself and your firm.

SITUATION 1
Enid Blyton has been working as an auditor for the Anthony Don Chartered Accounting firm for the past four years and has just started an audit on the Green Thumbs environmental company, a small newly listed public company which has just listed as a public company one month ago.The 
Green Thumbs environmental company  has just started using a new contractor to dispose of its toxic waste .You know that this new contractor has won tenders in the past and there have been several unfavourable articles about this contractor in the local press.
Your Audit Manager ,Peter Don , has stated that it is your responsibility just to provide an opinion
on the financial statements with the emphasis being on providing an opinion on whether the financial statements are true and fair and whether there are any material misstatements.

SITUATION 2
Jean Douglas has just started to do the audit on the latest financial statements and has just made the following notes from your opening interview with John Dooley,CEO of Dooleys.
John has apologised for not making the final payment of 30% of the prior years audit fee but has explained that he will ensure the cheque is written once he is happy with the progress on the current audit. At this stage John Dooley has advised that the firm will be able to start deliberations 
about the selection of Auditor for the following year.The Dooleys audit comprises forty percent of the annual audit fees for the firm .
John has advised that they will be providing a free trip to Europe for an Auditor from the Audit firm and his partner once the audit is successfully completed.
Jean is concerned with several aspects of the current audit as Dooleys do not appear to be following the accounting standards in their valuation of inventory  as they are not taking into account the reductions in fair value of inventory and the impact on the financial statements is material.    

Contributing to the person’s expertise on a particular topic

Earning the person accolades for their ability to find and source the best of the best stories, products, and goods.

Summary

Wal-Mart’s stock tumbled on the news that the company was investigating possible violations of the Foreign Corrupt Practices Act. According to information leaked to the press, Wal-Mart may have been bribing Mexican government officials in order to gain the zoning approvals it needed to build stores in the country. What makes the story especially interesting was the fact that the company appears to have known about the violations for several years, yet seemingly chose to do nothing.

While Wal-Mart had no legal obligation to disclose the fact that it was looking into the situation some years ago, analysts agree that the company had an ethical responsibility to make some disclosure, particularly given that the retail giant seems to have done little with the knowledge of a potential violation. Investigators will be looking to see whether the company gained an unfair competitive advantage as a result of its illegal activity.

If the company is found to have violated the Foreign Corrupt Practices Act it could face fines, and possibly have to return some of the profits it earned as a result. In addition, because it seems that top level executives were aware of the bribes when they occurred, there could be further penalties. Wal-Mart’s current CEO, Mike Duke, was head of Wal-Mart International at the time of the bribes.  

Discussion Questions

1. If the allegations against Wal-Mart prove to be true, the company will certainly be penalized for its illegal behavior. Consider, though whether the Foreign Corrupt Practices Act puts U.S. firms at a competitive disadvantage in foreign markets. Does it actually encourage unethical behavior by firms?

2. Is it ethical for U.S. lawmakers to prohibit bribery in foreign markets? What are the implications of the Foreign Corrupt Practices Act on employment and economic development in countries like India and Mexico?

3. Suppose you are a U.S. supplier to Wal-Mart Mexico. Do you agree with the Foreign Corrupt Practices Act? How does it affect you? Do you feel that U.S. lawmakers have the right to limit the activities of U.S. firms in foreign markets?

Please answer it in your own words .

You are the HR director at Springtime Manufacturing, which employs 75 people. The VP of Human Resources has asked that you evaluate the following situations. Please provide in the format of a memorandum to the VP with captions labeling each issue and addressing the questions posed. (See template at end)

1. Springtime decides to create a new Director of Marketing and Communications position. This position is responsible for overseeing all marketing for the company as well as communicating directly with the press and other major customers about the company, its news and initiatives. Thus, Springtime includes a requirement that the “ideal candidate will be able to communicate clearly and present a positive image of Springtime Manufacturing”. Both May Flower and June Bug apply for the position and are interviewed by the President of the Company, April Showers. Both May and June have appropriate degrees in Marketing and about the same level of experience. May is a practicing Muslim and so wears a headscarf to the interview, as she always does to comply with her religious beliefs. April asks May the same questions as she has asked June, but adds a question about the headscarf. In particular, she asks May whether she always has to wear the headscarf and whether she has encountered “negative reactions” to the scarf. May answers that she does have to wear the scarf and she occasionally has negative reactions. April also asks several other questions about May’s religion. After the interview, April announces that she is hiring June Bug for the position and cites the “Very positive image” that June will present for the company. May sues for discrimination under Title VII. Will she succeed? Why or why not?

Assessment Rubric for Assignment 4-     20 points total

Identification of Legal Issues (Clarity) 5 points Is the legal issue correctly identified for each situation presented?

Analysis Explanation (Content) 5 points Does the memorandum use the correct analysis for each identified issue and thoroughly explain the analysis?

Application of Analysis to Facts (Evidence Evaluation) 5 points Does each analysis include all applicable facts?

Conclusion (Are conclusions appropriate based on evaluation and appropriate use of terminology) 5 points