Apple Inc.

Introduction. Start with an introductory paragraph or two explaining the purpose of the report.

Brief History of the Company. In no more than one (1) page address the following:
•   What is the company’s principal line of business and major competitors?
•   What are their key products/services?
•   On what day does the company’s fiscal year end?
•   Provide a brief history of the company: When did the company first go public? Have they had any stock splits since then? Any other relevant data about their stock.
•   Who is their current CEO, CFO?
•   What else would a potential investor want to know?

Body: address the following questions related to your selected company in paragraph (not list) form.
1.   Who is the company’s current auditor? What does the auditor do?
2.   What method of depreciation is used by the company to depreciate its operational assets?
3.   What inventory method is used to state the value of the company’s inventory?
4.   Does the company have treasury stock (or a repurchase program)? Explain.
5.   Does the company have any investments? If so, what categories?
6.   What is the largest source of cash from financing activities?
7.   What is the largest use of cash from investing activities?
8.   Describe one footnote that presents additional detail about a reported financial statement number (provide the footnote number or letter).
9.   Describe one footnote that reports financial statement information not listed as a number in the financial statements (provide the footnote number or letter).
10.   What was the overall trend of the stock price for the most recent year?

My opinion about topic, group and presentation

My opinion about topic :

This subject very interesting and useful for me. I have been wanting to study this field for a long time but due to I was busy at university and so on, I could not. When I saw this subject on the table, I was surprised and chose to read and make report for it. Such studies, which paly an important role in my life, are very important for me. in addition to studying, also occasionally work in business like buying and selling flowers online. So this study help me to understand my work as much as possible.

My opinion about group :

I think I had a very good group( Ahsan, Abdelhamid and me). As the members of group followed all the necessary rules, there was no annoyance. The most important rule is respect to each other is that we all followed. The team did things on time and we all helped each other to give a very good presentation. My opinion about presentation : The only problem we had was how we going to present online. Since this was the fist time so strange to us. Since the teacher activated all necessary voting options for us on the blackboard, all our worries were resolved and we tried our best to present the presentation.

Requirement : Correct this text

You are a CPA who has recently transferred from the auditing and assurance department to the forensic accounting department of a public accounting firm where you have worked for two years. You receive a call from Sterling Preston, a senior manager in your group, who tells you that the next morning the two of you will drive to Suburbia, Illinois for a meeting. You confirm that you will be in the office at 7:00 a.m. to ride with Sterling to the meeting.

The next morning, while driving, Sterling explains what might happen in the meeting:

“WrecksAll Drugs has recently requested proposals from firms for audit services. Although our firm is not interested in the audit, the owner has also expressed concern about potential fraud at the company. We are headed to the law offices of an attorney for WrecksAll Drugs, which is a group of privately owned drug stores in Suburbia. Have you ever been there? Me either, but it’s a big town. We have a lead on a possible embezzlement. One of our audit partners spoke to their attorney, who may need an investigation at the Company. The owner, Ben Broughton, found some funny business in the deposits. The Director of Accounting, Conrad Scaglia, has been put on leave. They are going to explain what is going on to see if we can help. Just listen and take some notes, and of course, ask clarifying questions as needed.”

You and Sterling arrive and are ushered into a conference room at the law firm. Present are Ben, his lawyer, you, and the senior manager. The lawyer does most of the talking:

“WrecksAll operates 3 retail stores across the city, and competes with stores of two national chains, and also with several retail drug stores located on site at area hospitals. The Company has developed a successful niche in the marketplace by locating its stores near otherwise underserved residential neighborhoods, and by providing personalized service, generating loyalty form a core base of its customers. Much of its core customer base tends to be elderly and below median income for Suburbia.”

Ben, the owner, interjects:

“One service we provide to qualified customers is that we fill prescriptions on credit for customers enrolled in Medicare, Medicaid, or private medical insurance plans. We file claims for customers for drug purchases, and the insurance reimbursement checks are received directly by us from health insurance programs, in payment of customer credit accounts. We don’t make too many mistakes. I am the only person who can write off a customer’s account. Of course, we also accept payment by cash, check, or major credit card for all customers.”

The attorney continues:

“Ben has found suspicious activity in the deposits. Every shift, a deposit slip is completed by each cashier and deposit amounts (cash, checks and credit card batches) are removed from the cashier’s register and are keyed into the point of sale register by the cashier as a register withdrawal for deposit. As a matter of procedure, bank deposit slip totals can be compared to the register reports for each shift and each cashier. Deposit slip totals nearly always agree to the register report totals. However, often throughout each week, certain deposits contain less cash than indicated on the register report. By an equal amount, these same deposits contain more value in checks than indicated on the register report.”

After the conclusion of the meeting at the attorney’s office, you will visit WrecksAll’s offices, which are located in the rear of the retail space for WrecksAll store #2. Sterling will leave you at WrecksAll offices for some initial fact finding while he attends a sales call and lunch with another law firm in Suburbia, and then he will rejoin you in the afternoon at WrecksAll.

You and Sterling are left alone in the conference room and you discuss the following questions. Provide your written answers to these questions below, and prepare to discuss them in class. 1) Form one or more initial hypotheses about what could be happening to explain why deposits balance with the register

1 While this case is based on a collection of experiences from professionals in practice, all names, facts, documents and data provided in this case are fictional representations. reports in total, but cash deposited is less than amounts reflected on the register report and checks deposited are greater than the amount reflected on the register report.

2) For each of the hypotheses stated in #1) above, label which ones are fraud hypotheses and which hypotheses, if true, would be non-fraud explanations?

3) List what information and documents you would like to receive in order to begin investigation of this matter?

4) The owner suspects that Conrad, the Director of Accounting, has manipulated the deposits. Conrad is on leave, pending conclusion of the investigation. Would you like to request that Conrad come in for an interview with you today? Why, or why not?

5) Availability of WrecksAll staff and your time is currently limited. After some initial fact finding today, your firm will propose a scope of services to WrecksAll and its attorney and ask to execute an engagement letter to complete the investigation. Review the WrecksAll organization chart that follows. The organization chart indicates the titles for each position, which can indicate the nature of job responsibilities for each position. Each position also is connected by a line to a position above it, indicating the supervisor for each position in the chain of command. Some of the boxes near the bottom of the organization chart represent numerous positions of identical responsibility, such as cashier. Document and select three individuals from the organization chart you would like to interview today in order to help you better plan the engagement and revise your current hypotheses about the cause of differences between deposits and company register report details. Which three positions would you ask to interview today? Explain why you have selected each of these individuals.

Aykroyd Inc. has sponsored a noncontributory, defined benefit pension plan for its employees since 1997. Prior to 2020, cumulative net pension expense recognized equaled cumulative contributions to the plan.Other relevant information about the pension plan on January 1, 2020, is as follows:1.The company has 200 employees. All these employees are expected to receive benefits under the plan. The average remaining service life per employee is 12 years.2.The projected benefit obligation amounted to $5,000,000 and the fair value of pension plan assets was $3,000,000. The market-related asset value was also $3,000,000. Unrecognized prior service cost was $2,000,000. On December 31, 2020, the projected benefit obligation and the accumulated benefit obligation were $4,850,000 and $4,025,000, respectively. The fair value of the pension plan assets amounted to $4,100,000 at the end of the year. A 10% settlement rate and a 10% expected asset return rate were used in the actuarial present value computations in the pension plan. The present value of benefits attributed by the pension benefit formula to employee service in 2020 amounted to $200,000. The employer's contribution to the plan assets amounted to $775,000 in 2020. This problem assumes no payment of pension benefits. Instructions (Round all amounts to the nearest dollar.)

Which of the following scenarios contain nonbiased samples? Select all that apply. Select all that apply: To estimate the mean height of students at her school, Kelly collects data by selecting a random group of students within her classroom. Elizabeth wants to estimate the mean grade point average of students at her school. She collects data by recording the grade point average of every 25th student on the list of students after a randomly selected first student. Andrew wants to estimate the mean number of classes that students take at his university. He collects data from a randomly selected proportionate number of students from each grade level. To estimate the mean salary of professors at his university, Homer collects data by recording the salaries of all professors included in 12 randomly selected departments.

A nationwide survey of college students was conducted and found that students spend two hours per class hour studying. A professor at your university wants to determine whether the time students spend at your university is significantly different from the two hours. A random sample of 36 statistics students is carried out and the findings indicate an average of 1.75 hours. Assume a populatoin standard deviation of 0.5 hours. Using a level of significance of 0.05:

1. Construct a 95% confidence interval for the population mean.

2. Using a level of significance of 0.05: a. What is Ho and H1? b. What is the Decision Rule? c. What is the computed value of the test statistic? d. What is the decision regarding Ho? What can we conclude? e. Compute and Interpret the p-value.

3. Are the results from the confidence interval and hypothesis testing consistent? Should they be? Justify your answer.

Women athletes at the University of Colorado – Boulder have a long-term graduation rate of 62% (Source: The Chronicle of Higher Education). Over the past several years, a simple random sample of 42 women athletes at the school showed that 22 eventually graduated. Does this indicate that the population proportion of women athletes who graduate from the University of Colorado – Boulder is now less than 62%? Use a 5% significance level and the Traditional method.

check the requirements

Establish H0 and H1.

Is this a 2-tailed test, left-tailed, or right-tailed?

Calculate the value of the test statistic. Round to three figures after the decimal point. Use correct sign.

Determine the critical value. Use correct sign.

Is there sufficient evidence to reject the claim that the population proportion of women athletes who graduate from UC equals to 0.62?

Group of answer choices

Actions for Discussion Activity #5 Assume the following planned changes in (market) prices: (i).A State (Public) University you are currently attending has decided to raise tuition by 10% next semester. (ii). The Parking department at the university will increase the parking fee for the guaranteed but limited parking space on campus by 20% next academic year. Your home town (where you commute from) is 25 miles away from campus. (iii). The Campus bookstore will increase the prices of new textbooks, which you are required to buy, by 25%, next semester. (iv) . Your favorite restaurants down town will raise their menu prices by 10%, next month. Assuming that you have a limited (fixed) amount of income, Indicate how you are likely to respond to the above price changes? Briefly explain whether (your) demand is “elastic” or "inelastic” ,in each of the above cases?

Researchers equipped random samples of 46 male and 58 female students from a large university with a small device that secretly records sound for a random 30 seconds during each 12.5-minute period over two days. Then they counted the number of words spoken by each subject during each recording period and, from this, estimated how many words per day each subject speaks. The female estimates had a mean of 16,177 words per day with a standard deviation of 7520 words per day. For the male estimates, the mean was 16,569 and the standard deviation was 9108. Do these data provide convincing evidence of a difference in the average number of words spoken in a day by male and female students at this university?

a) What is the critical value for this test?

b) What is the p-value for this test?

c) What is the test statistic for this test?

d) What is the decision for this test?

Since the beginning of 2020, the world is suffering from the pandemic. Due to Covid-19, the demand for surgical masks surges rapidly. Assuming firms that produce surgical masks only need machines that produce surgical masks and workers that operate the machines. What do you think would happen to the equilibrium wage and unemployment, if there is no quarantine in place? And if there is? Assuming we are talking about a small closed economy.