Part 1

Changes in macroeconomic indicators can often be of relevance to business decision-making. For instance, changes in macroeconomic performance reflected in indicators can impact things such as firms profit forecasts, expected sales growth, expansion plans, etc.

Assume you are employed as a business analyst with the large Australian based mining company. Identify and discuss how each of the following macroeconomic issues may be relevant to the firm:

a) A world-wide economic slow-down.

b) Appreciation of the Australian dollar relative to other major currencies.

c) The government abolishes subsidies to the mining industry.

At the end of your answer to Part 1 state the combined word count for sub-parts a,b and c. Your answer to Part 1 should not exceed 150 words.

(1.5 marks each plus 0.25 marks for satisfying word count requirements - Part 1 worth 4.75 marks)

Most investment trust funds distribute investment earnings and changes in investment values on a daily basis.

True or False

A custodial fund should be used to account for special assessment billing and collection, and related debt service of special assessment debt, if the government has no responsibility for the debt.

True or False

The GASB requires disclosures related to three types of credit risk.

True or False

It is common for a government that collects taxes on behalf of other governments to be authorized to withhold a certain percentage from the collections for each government.

True or False

Trust funds should utilize the accrual basis of accounting.

True or False

When an investment pool is created, the assets of each fund entering the pool should be transferred to the pool at their fair value at the date of the transfer.

True or False

When one participant in an investment pool withdraws part of its equity from the pool, that participant’s proportionate interest is decreased and all other participants’ proportionate interest is increased.

True or False

Accounting for other postemployment benefits is similar to accounting for defined contribution pension plans.

True or False

In regard to pass-through grants, a recipient government has administrative involvement if it is responsible for filing paperwork under a grant agreement.

True or False

A government needs to establish an investment policy for its investment trust fund to ensure compliance with the GASB standards.

True or False

J.M Keynes is credited with three major changes to the Classical model which among other things made the determination of real output and employment dependent on fiscal policy (G*,T*):
(1) He introduced an liquidity motive for holding money;
(2) he introduced wage/price stickiness;
(3) he employed the consumption function in a new way.
A.   Explain how (1)-(3) led to the conclusion that fiscal policy could have impact on real output and employment (which the Classical theory had said could not happen).
B.   In your opinion (that means there is not necessarily a “correct” answer), which would you argue is the most important “Keynesian” feature—i.e., (1), (2), or (3)—making real output and employment to depend on fiscal policies?

summarize steps that people can take to live a more sustainable lifestyle and what major changes should be made in their lives to live more healthfully when it comes to nutritional choices.

Due to recent changes in audit standards, external auditors are relying on internal audit functions more often. Please discuss ways that external auditors can assess the effectiveness of the internal audit function.

1- What’s fitness? Explain in detail

2- What are the physiological changes related to good fitness level? Explain each of them in detail

3- How does physical activity and exercise affect your blood pressure and heart rate? Explain in detail

4- What do the body use for energy in the early stages of exercise? Explain in detail

5- When and how does  the body starts using fat as energy?

6- What happen when the body gets depleted of glucose for energy?

Prepare multiple step income statement and statement of changes in owner's equity for the month

1. Jan-1 The JW-Corp Received $120,000 from Investors in Exchange for 6,000 shares of Common Stock.
2. Jan-2 JW-Corp Borrowed $150,000 from SCHWAB BANK and signed a Note Due in 24 months.
3. Jan-3 JW Corp purchased Office Equipment worth $120,000 (5 year life), with a $40,000 Down payment of Cash and the remainder Due on account to Target-Corp within 9 Months.
4. Jan-4 JW Corp purchased an Office Building for $420,000 (25 year life), by making a Down payment of $60,000 and then signed a Note for the remainder Due in 18 Months to CHASE Bank.
5. Jan-5 JW Corp paid $15,000 with a check for Office Rent for the next 3 months.
6. Jan-10 JW Corp paid $4,000 with a check for Business Insurance for this month.
7. Jan-11 JW Corp provided CPA Services to the Gavilan Corp worth $138,000 and Collected $58,000 Cash and Billed them the remainder on Account.
8. Jan-15 JW-Corp received This Month’s Utility Bill from PGE for $2,000 to be paid Later.
9. Jan-16 JW-Corp received This Month’s Telephone Bill from Skype for $800 to be paid Later.
10. Jan-17 JW-Corp received a $10,000 check from Gavilan Corp on Account.
11. Jan-20 JW-Corp received a BILL for $12,000 for Legal Fees used this month to be Paid Later.
12. Jan-23 JW-Corp paid $11,000 with Checks for this Months Salaries expenses.
13. Jan-24 JW-Corp Received a $13,000 check from Gavilan Corp on Account.
14. Jan-25 JW-Corp received a $27,000 check from Garlic-Corp for Services to be Provided Later.
15. Jan-26 JW-Corp Paid Target $33,000 with a Check towards the Equipment from Transaction #3.
16. Jan-27 JW Corp Wrote a Check to Skype for the Full Amount Due on account for the Telephone Bill from #9.
17. Jan-28 JW Corp Paid $4.20 Cents per Share to the Owners of the Business with Checks.
18. Jan-29 JW-Corp paid $9,000 with a Check on the Note Payable from Transaction #2, $2,800 was for Interest Expense, and the remainder reduced the Note Payable.
19. Jan-31 JW-Corp recorded one Month of RENT Expense from the Prepaid Account.
20. Jan-31 JW-Corp recorded one Month of Depreciation Expense on The Office Equipment Using the Straight Line Depreciation Method.
21. Jan-31 The JW Corp recorded one Month of Depreciation Expense on the Office Building using the Straight Line Depreciation Method.

Jan-31 the JW-Corp Recorded the Income Tax Payable for the Month, which is 40% of Net Income

Explain how investors react to changes in a company’s dividend payout policy. Discuss what a

firm’s payout policy indicates about the financial status of a company. Discuss how taxes impact

an investor’s desire for dividends. In the long-term, how does a company’s payout policy impact

the value of an investor’s portfolio (disregarding taxes)?

5. Describe how the electrochemical gradient generated during the electron- transport chain changes the conformation of the ATP Synthase, enabling it to catalyze the covalent attachment of Pi to ADP to form ATP.

The company’s income statement for the year follows:

1. Using the indirect method, determine the net cash provided by / used in operating activities for the year.

2.