Questions
how is the interpretation of slopes in multiple regression model different from simple regression slope? How...

how is the interpretation of slopes in multiple regression model different from simple regression slope?

How repeated measures ANOVA control for individual differences?

In: Statistics and Probability

explain what a forensic anthropologist does, how are they able to establish the biological profile, what...

explain what a forensic anthropologist does, how are they able to establish the biological profile, what else are they able to tell about an individual from the skeleton?

In: Anatomy and Physiology

With reference to the biopsychosocial model of health, identify how inequalities could impact the wellbeing of...

With reference to the biopsychosocial model of health, identify how inequalities could impact the wellbeing of an individual from your selected field of practice with 1,000 words.

In: Psychology

After reading Chapter 4 of Shackleton's Way answer the question: How did Shackleton get the best...

After reading Chapter 4 of Shackleton's Way answer the question: How did Shackleton get the best from each individual on his crew?

In: Operations Management

Question 1 - Week 1 (7 marks) You have recently graduated from your university course and...

Question 1 - Week 1
You have recently graduated from your university course and start work with an audit firm.
You meet an old school friend, Nayan, for dinner — you haven't seen each other for several
years. Nayan is surprised that you are now working as an auditor because your childhood
dream was to be a ballet dancer. Unfortunately, your knees were damaged in a fall, and you
can no longer dance. The conversation turns to your work, and Nayan wants to know how
you do your job. Nayan cannot understand why an audit is not a guarantee the company will
succeed. Nayan also thinks that company managers will lie to you in order to protect
themselves. As an auditor, you would have to assume that you cannot believe anything a
company manager says to you.
Required:
(a) Write a letter to Nayan explaining the concept of reasonable assurance, and how
reasonable assurance is determined. Explain why an auditor cannot offer absolute assurance
. (200 -250 words)
(b) Explain in the letter to Nayan the concept of 'professional scepticism' and how it is not
the same as assuming that managers are always trying to deceive auditors . (150-
200 words)

In: Accounting

You have recently graduated from your university and started work with an accounting firm. You meet...

You have recently graduated from your university and started work with an accounting firm. You meet an old school friend, Kim, for dinner—you haven’t seen each other for several years. Kim is surprised that you are now working as an auditor because your childhood dream was to be a ballet dancer. Unfortunately, your knees were damaged in a fall and you can no longer dance. The conversation turns to your work and Kim wants to know how you do your job. Kim cannot understand why an audit is not a guarantee the company will succeed. Kim also thinks that company managers will lie to you to protect themselves, and as an auditor you would have to assume that you cannot believe anything a company manager says to you.

Compose a letter to Kim explaining the concept of reasonable assurance, and how reasonable assurance is determined. Explain why an auditor cannot offer absolute assurance. Describe the concept of professional skepticism and how it is not the same as assuming that managers are always trying to deceive auditors. Explain to Kim why her perceptions are a perfect example of the expectations gap.

In: Accounting

Mr. Preprah is the chairman of PALOO company and has become concerned about the accumulation of...


Mr. Preprah is the chairman of PALOO company and has become concerned about the accumulation of cash in hand and in the deposit accounts shown in the company's statement of financial position. The company is in the manufacturing sector, supplying engines to the auto markets in the Ghana and Africa. For the last 30 years the company has grown predominantly by acquisition and has not invested significantly in research and development on its own account. The acquisitions have given the company the technology that it has required and have all tended to be small, relative to the company's total market capitalisation.
The company has a healthy current asset ratio of 1.3, although its working capital cycle has an average of 24 unfunded days. The company has not systematically embraced new manufacturing technologies nor has it sought to reduce costs as a way of rebuilding profitability. Managerial and structural problems within divisions have led to a number of substantial projects overrunning and losses being incurred as a result. It has also proven difficult to ensure the accountability of managers promoting projects – many of which have not subsequently earned the cash flows originally promised. At the corporate level, much of the company's accounting is on a contracts basis and over the years it has tended to be cautious in its revenue recognition practices. This has meant that earnings growth
has lagged behind cash flow.
Over the last year the company has come under strong competitive pressure on the dominant defence side of its business which, coupled with the slow-down in spending in this area across the major African economies, has slowed the rate of growth of its earnings. The company's gearing ratio is very low at 12% of total market capitalisation and borrowing has invariably been obtained in the European fixed interest market and used to support capital investment in its Africa production facility. In the current year, investment plans are at the lowest they have been in real terms since the company was founded in the 1930s.
In discussion, the chairman comments upon the poor nature of the company's buildings and its poor levels of pay which could, in his view, be improved to reflect standards across the industry. Directors' pay, he reminds you, is some 15% below industry benchmarks and there is very little equity participation by the board of directors. He also points out that the company's environmental performance has not been good. Last year the company was fined for an untreated discharge into a local river. There are, he says, many useful things the company could do with the money to help improve the long-term health of the business. However, he does admit some pessimism that
business opportunities will ever again be the same as in previous years and he would like a free and frank discussion at the next board meeting about the options for the company. The company has a very open culture where ideas are encouraged and freely debated.
Mr. Preprah asks if you, as the newly appointed Finance Director, would lead the discussion at the next board.
Required
(a) In preparation for a board paper entitled 'Agenda for Change', write brief notes which identify the strategic financial issues the company faces and the alternatives it might pursue.
(b) Identify and discuss any ethical issues you believe are in the above case and how the various alternatives you have identified in (a) may lead to their resolution.

In: Accounting

Mr. Preprah is the chairman of PALOO company and has become concerned about the accumulation of...

Mr. Preprah is the chairman of PALOO company and has become concerned about the accumulation of cash in hand and in the deposit accounts shown in the company's statement of financial position. The company is in the manufacturing sector, supplying engines to the auto markets in the Ghana and Africa. For the last 30 years the company has grown predominantly by acquisition and has not invested significantly in research and development on its own account. The acquisitions have given the company the technology that it has required and have all tended to be small, relative to the company's total market capitalisation.

The company has a healthy current asset ratio of 1.3, although its working capital cycle has an average of 24 unfunded days. The company has not systematically embraced new manufacturing technologies nor has it sought to reduce costs as a way of rebuilding profitability. Managerial and structural problems within divisions have led to a number of substantial projects overrunning and losses being incurred as a result. It has also proven difficult to ensure the accountability of managers promoting projects – many of which have not subsequently earned the cash flows originally promised. At the corporate level, much of the company's accounting is on a contracts basis and over the years it has tended to be cautious in its revenue recognition practices. This has meant that earnings growth
has lagged behind cash flow.

Over the last year the company has come under strong competitive pressure on the dominant defence side of its business which, coupled with the slow-down in spending in this area across the major African economies, has slowed the rate of growth of its earnings. The company's gearing ratio is very low at 12% of total market capitalisation and borrowing has invariably been obtained in the European fixed interest market and used to support capital investment in its Africa production facility. In the current year, investment plans are at the lowest they have been in real terms since the company was founded in the 1930s.

In discussion, the chairman comments upon the poor nature of the company's buildings and its poor levels of pay which could, in his view, be improved to reflect standards across the industry. Directors' pay, he reminds you, is some 15% below industry benchmarks and there is very little equity participation by the board of directors. He also points out that the company's environmental performance has not been good. Last year the company was fined for an untreated discharge into a local river. There are, he says, many useful things the company could do with the money to help improve the long-term health of the business. However, he does admit some pessimism that
business opportunities will ever again be the same as in previous years and he would like a free and frank discussion at the next board meeting about the options for the company. The company has a very open culture where ideas are encouraged and freely debated.

Mr. Preprah asks if you, as the newly appointed Finance Director, would lead the discussion at the next board.

(a) In preparation for a board paper entitled 'Agenda for Change', write brief notes which identify the strategic financial issues the company faces and the alternatives it might pursue.

(b) Identify and discuss any ethical issues you believe are in the above case and how the various alternatives you have identified in (a) may lead to their resolution.

In: Accounting

In an initial simulation, a small population of six snails (out of 85) founded a new...

In an initial simulation, a small population of six snails (out of 85) founded a new population. Suppose 50 snails from the original site. (rather than six). Assuming these 50 snails survived and reproduced on the new island, what effect would the larger sample size have on the result? Could you predict any shifts in the gene pool due to random genetic drift?

Now consider the two populations of snails living on a single island. Is it at all plausible that these populations might become reproductively isolated? If reproductive isolation does occur, describe some long-range consequences that you might expect to observe in snail populations. If speciation were to occur on a single island, what types of adaptations might you expect to evolve in the WTSP predator population?

In: Biology

Agarwal Technologies was founded 10 years ago. It has been profitable for the last 5 years,...

Agarwal Technologies was founded 10 years ago. It has been profitable for the last 5 years, but it has needed all of its earnings to support growth and thus has never paid a dividend. Management has indicated that it plans to pay a $0.25 dividend 3 years from today, then to increase it at a relatively rapid rate for 2 years, and then to increase it at a constant rate of 8.00% thereafter. Management's forecast of the future dividend stream, along with the forecasted growth rates, is shown below. Assuming a required return of 11.00%, what is your estimate of the stock's current value?

Year 0 1 2 3 4 5 6
Growth rate NA NA NA NA 30.00% 15.00% 8.00%
Dividends $0.000 $0.000 $0.000 $0.250 $0.325 $0.374 $0.404

In: Finance