Khalid recently received his accounting degree from Sultan Qaboos University and went to work for accountancy firm. After working for 6 months with accountancy firm, he was sent to the Sky manufacturing company to audit the financial year 2019. Khalid had his first ever experience of Audit, and he was not confident of his professional experience at this early point in his career.

However, during the audit, he noticed, that some of the company's transactions and events were recorded in a way that might be in violation of accounting theory and generally accepted accounting principles. Khalid is very much confused about the practices they followed. Sky manufacturing may face serious consequences, if they continue with the same practices. During the audit, Khalid observed that some of the company’s important information is not shared with him., which is a clear violation. The owner of Sky manufacturing is putting a lot of pressure on Khalid to make a good report for the audit.

a. Khalid is an honest auditor and concerned about his work and career. Being aware of the complexity and nature of work, he has to be resilient, diligent, inquisitive, insightful, and impartial. Discuss and state examples, how would Khalid imply these characteristics to do his work
professionally in the above scenario?
b. The auditor should challenge the financial accounting practices used or should challenge the intentions of the management. Write your decisions and the reasoning behind your conclusions.

answer should be not less than 400 words for each part.

what do you mean?

Travis Daniels has just graduated from Matchbook State University and is deciding whether to pursue his master's degree. Travis is now 20 years old.  He has just been offered a job with Schmultz, Inc. at an annual salary of $45,000 with anticipated annual increases (for inflation), of 3%. Travis anticipates working only through to his planned retirement, on his 65th birthday. Were Travis to defer the job acceptance and attend graduate school at Matchbook State, the tuition would cost $45,000 annually (paid at the beginning of each of the next three years), with a moderate 5% increase in tuition for the 2^ndand 3^rdyears. Once he completes his three year Master’s program, he could be reasonably assured of a better position with Schmultz, Inc. starting at $60,000 per year (including an anticipated annual increase of the same 3%). Assuming that the salaries are paid at the end of each year, is the pursuit of Travis's master's degree a worthwhile investment, when factoring an interest rate of 6%, or should he start now.

Q3 Case study: Peter Smith, a 19 year old university student, was suffering from influenza and visited his local GP. He said he began to feel unwell two days earlier and his condition had worsened since with an acute onset of a sore throat(pharyngitis). On examination the following observations were made: Fever of 38.9 degrees C, Runny nose, Sneezing, Enlarged anterior cervical lymph nodes (lymphadenopathy) Peter’s throat was observed to have the following signs: Redness, Swollen, Having a patchy covering of yellow-white exudate over his tonsils The doctor prescribed phenoxymethylpenicillin 500 mg twice per day for ten days.

Question: Given that influenza is caused by a virus, why was Peter prescribed an antibiotic?

Q5. Case study: Peter Smith, a 19 year old university student, was suffering from influenza and visited his local GP. He said he began to feel unwell two days earlier and his condition had worsened since with an acute onset of a sore throat(pharyngitis). On examination the following observations were made: Fever of 38.9 degrees C, Runny nose, Sneezing, Enlarged anterior cervical lymph nodes (lymphadenopathy) Peter’s throat was observed to have the following signs: Redness, Swollen, Having a patchy covering of yellow-white exudate over his tonsils The doctor prescribed phenoxymethylpenicillin 500 mg twice per day for ten days.

Question: Explain why antibiotics are not effective against viruses.

.4 Read the following excerpts from the University of Michigan News Service online article “Women need not lose sleep over menopause,U-M study says” (April 27,2004). ANNARBOR,Mich.—Can’tgetagoodnight’ssleep?Don’tbequicktoblameitonmenopause. Middle-aged women often complain that they sleep poorly,and both women and their health care providers point to menopause as the cause. But University of Michigan researchers Jane Lukacs and Nancy Reame say it may be time to put that assumption to rest.In an article in the justreleased April issue of the Journal of Women’s Health,Lukacs,an assistant research scientist at the U-M School of Nursing, under the direction of nursing professor Reame, tested the connection between the hormone estrogen and women’s sleep quality. Her conclusion:“Estrogen has been blamed for a lot,but that doesn’t seem to be what’s at work here.” To separate aging effects from menopause, Lukacs and her collaborators studied a group of women aged 20–52,and compared them to age-matched women who had gone through menopause, some of whom were using estrogen therapy.For example,she examined a 47-year-old woman still having regular menstrual cycles and compared her data to a 47-year-old woman who had not had regular cycles for 12 months. They found total sleep time,time spent awake during the night,and efficiency of sleep time all were worse for older women than younger women,regardless of whether the older women were still having menstrual cycles and regardless of whether they used estrogen therapy.While young women around age 24 slept about seven hours (416.9 minutes),all women in their 40s,regardless of their estrogen levels or menopause status, got only about six to six-and-a-half hours of sleep (354.9–377.8 minutes). Further, although many women have taken hormone replacement drugs to try to help their sleep,Lukacs and Reame found that for women who were not having hot flashes,there was little difference in sleep between post-menopausal women who were or were not taking estrogen supplements.“Our findings fail to support the popular view that estrogen plays an important role in sleep enhancement,”the article states.“The use of an estrogen patch or gel for three months did not improve any objective measure of sleep architecture.” The research team studied 51 women who participated in an overnight sleep challenge at U-M Hospitals.Women underwent a 24-hour blood sampling protocol to examine their hormone levels and wore electrodes for sleep monitoring from 11 p.m.to 7 a.m.Researchers studied sleep stages, REM sleep and sleep disruption. The researchers noted that because this study involved an in-hospital,one-night sleep observation,further research examining women’s natural sleep patterns in their own homes over multiple nights could give more insight into why women sleep poorly at midlife. They added that in the future,researchers could build on their study and look for such variants as oxygen saturation to look for sleep apnea, leg muscle movement during sleep, and patterns associated with hot flashes,determined by monitoring skin temperature.Hormone replacement therapy might diminish muscle movement during sleep and calm hot flashes,Lukacs said, which could account for some of the beliefs about estrogen improving sleep.

(a) Is this an observational study or an experiment?

(b) What are the explanatory and response variables?Hint:The article states the researcher “tested the connection between the hormone estrogen and women’s sleep quality.”This gives the general variables being linked.However,the article does go on to state some of the specific response variables that were compared. List some of these response variables.

(c) Consider the following hypotheses,tested using a 5% significance level. The use of an estrogen patch or gel for three months does not improve the total sleep time on average. The use of an estrogen patch or gel for three months does improve the total sleep time on average. Basedontheresultsstatedinthearticle,givetwopossiblevaluesforthep-valueofthistest.

(d) Consider the following sentence from the article:“For example,she examined a 47-yearold woman still having regular menstrual cycles and compared her data to a 47-year-old woman who had not had regular cycles for 12 months.”What is this design technique called and why was it done?

(e) What were some of the other possible confounding variables that the researchers suggested might be incorporated into future studies

John West’s Used Cars plc has always hired students from the local university to wash the cars on the lot. John West is considering the purchase of an automatic car wash that would be used in place of the students. The following information has been gathered by John West’s accountant to help him make a decision on the purchase:
a) Payments to students for washing cars total R15 000 per year at present.
b) The car wash would cost R21 000 installed, and it would have a 10-year useful life. John West uses straight-line depreciation on all assets. The car wash would have a negligible salvage value in 10 years.
c) Annual out-of-pocket costs associated with the car wash would be: wages of students to operate the wash, keep the soap bin full and so forth, R6 300; utilities, R1 800; and insurance and maintenance, R900.
d) John West now earns a return of 20% on the funds invested in his inventory of used cars. He feels that he would have to earn an equivalent rate on the car wash for the purchase to be attractive.
Required
1 ) Determine the annual savings that would be realised in cash operating costs if the car wash was purchased.
2) Calculate the simple rate of return promised by the car wash. (Hint: Note that this is a cost reduction project.) Will John West accept this project if he expects a 20% return?
3) Calculate the payback period on the car wash. John West (who has a reputation for being something of a penny-pincher) will not purchase any equipment unless it has a payback of four years or less. Will he purchase the car wash equipment?
4) Calculate (to the nearest whole per cent) the internal rate of return promised by the car wash. Based on this calculation, does it appear that the simple rate of return would normally be an accurate guide in investment decisions?

A university has 15,000 students. We have drawn a simple random sample size of 400 from the population and recorded how much money each student spent on cellular telephone service during November 2003. For this sample, the sample mean is $36, and sample standard deviation is $20. At a 99% level of confidence, test the null hypothesis that these 15,000 students, combined, did not spend more than $500,000 on cellular telephone service during November 2003.

You recently graduated from Empire State University with a degree in Marketing. You loved your time at Empire State, and have made numerous friendships with faculty members, current students, and community members. Because of this, you want to remain in your college town and achieve your dream of opening your own coffee shop, The Daily Grind. Before you can open your business, you know that you need to divide the market into segments, to develop customer profiles in order for you to determine which segment of the market you want to target. You have decided to focus on a handful of variables that represent all four market segmentation bases (demographic, geographic, psychographic, behavioral). In one or more fully formed paragraphs, identify and explain at least one variable within each base of market segmentation that should be used to segment the market to create a customer profile of patrons appropriate for The Daily Grind.

John West plc used cars has always hired students from the local university to wash the cars on the lot. John West is considering the purchase of an automatic car wash that would be used in place of the students. The following information has been gathered by John West's accountant to help him make a decision on the purchase:

a) Payments to students for washing cars total R15 000 per year at present.

b) The car wash would cost R21 000 installed, and it would have a 10 year useful life. John West uses straight line depreciation on all assets. The car wash would have a negligible salvage value in 10 years.

c) Annual out-of-pocket costs associated with the car wash would be: wages of students to operate the wash, keep the soap bin full and so forth, R6 300; utilites, R1 800; and insurance and maintenance , R900.

d) John West now earns a return of 20% on the funds invested in his inventory of used cars. He feels that he would have to earn an equivalent rate on the car wash for the purchase to be attractive.

Required:

1) Determine the annual savings that would be realized in cash operating costs if the car wash was purchased.

2) Calculate the simple rate of return promised by the car wash, (Hint: Note that this is a cost reduction project.) Will John West accept this project if he expects a 20% return?

3) Calculate the payback period on the car wash. John West (who has a reputation for being something of a penny-pincher) will not purchase any equipment unless it has a payback of four years or less. Will he purchase the car wash equipment?

4) Calculate ( to the nearest whole percent) the internal rate of return promised by the car wash. Based on this calculation, does it appear that the simple rate of return would normally be an accurate guide in investment decisions?

NAME Resolving Ethical Business Challenges Charlie just graduated from Michigan University and landed a job as a copywriter at Fletcher, Alexander, and Burgess (FAB) Advertising assigned to one of the subsidiary accounts of Delicious Uber Bacon Ingredients Extraordinaire Corporation. This conglomerate was primarily a food processing manufacturer beginning one hundred years ago with pork in the Midwest. Overall corporate sales of beef, chicken, pork, and seafood were more than $ million each year. FAB considered many advertising options and opted for a celebrity spokesperson. That meant Charlie would work with Alice Aimee Lucie Jeanne Bompard as the celebrity endorser. Ms. Bompard is a well-known, well-liked, and vibrant actress with a large younger following. Kelly, President of FAB, asked Charlie to step into her office. “Charlie, this new account is a good start for you. We usually don’t let our new copywriters handle accounts by themselves, but you have proven to be a capable employee. Your job on this account is to write copy for the commercials using Ms. Bompard’s product testimonials. The copy needs to be crafted as a testimonial, targeting the market of seventeen to thirty-year-olds. Ms. Bompard already signed an affidavit as to being a bona fide user of the product. The scripts should feature her testifying to the quality, value, and tastiness of the bacon. I want you to meet her tomorrow so you can start the writing process and understand her personality in order to script the messages. Spend the rest of the day immersing yourself in her biography and researching her on the Internet.” As Charlie left Kelly’s office he remembered a Facebook post about Ms. Bompard being a vegetarian. The next day at their meeting, Charlie asked her if she had actually tasted the bacon. Ms. Bompard replied, “Why yes, technically and legally I have tried Uber. In fact, I’ve been a huge fan since I was a kid. Bacon is my favorite food. I’ve done several testimonials in the past and know the American Advertising Federation (AAF) rules. I know as long as my comments are based on verifiable personal use, the message cannot be challenged as deceptive. In fact, Uber bacon has been a favorite of mine since I was young. It wasn’t until a month ago I became a vegetarian. Eating all that bacon for decades really did a number on my cholesterol.” “So, you feel comfortable about endorsing Uber even though you don’t eat it now?” asked Charlie. “No question about it. As far as bacon goes, Uber is second to none in taste. If people are going to eat bacon, why not eat the best? Even if it is a heart attack waiting to happen,” Ms. Bompard joked. The next day Kelly asked Charlie how it went. He explained their conversation and expressed concern over the fact Ms. Bompard is currently a vegetarian, and she attributed her high cholesterol to Uber bacon. Charlie felt relief when he saw the concern in Kelly’s
face, but soon realized her concern was about Ms. Bompard pulling out of the advertisement. Charlie reassured Kelly Ms. Bompard still wanted to promote the product, but it seemed like a contradiction to have a vegetarian promoting bacon. Kelly responded by saying as long as Ms. Bompard had eaten the bacon at some point in her life and thinks it is a good product, it makes no difference as to whether she currently eats the bacon. She continued, "Sometimes in advertising, you have to add a spin to the message you are communicating so it fits with the product you are selling. Not only are you selling a product, but more importantly, you are selling an experience, a feeling, an idea that appeals to consumers." As Charlie walked home that evening, he wondered how he was going to write this advertisement. He did not want to begin his career in a dishonest manner, but he also wanted to produce work that pleased his boss. He tried to think of creative ways to mask the contradiction of the advertisement. Maybe with humor? He asked himself if this approach would still feel dishonest. The next morning Charlie was going to meet with both Ms. Bompard and Kelly about what he had written thus far.

1. What ethical dilemma(s) is Charlie facing? (1-2 paragraphs)
2. What should Charlie do? Evaluate and defend your position by applying at least one concept from our chapter 10 studies on ethics and corporate social responsibility (1-2 paragraphs).

Ethical Concepts from Chapter:

-Stages of Moral Development

-Social Entrepreneurship

-Corporate Social Performance

-Diversity Strengths

-Traditionalists

-Baby boomers

-Generation X

-Generation Y

-Decision Biases