Featherbed Surf & Leisure Holidays Ltd. is a resort company based on Vancouver Island. Its operations include boating, surfing, diving, and other leisure activities; a backpackers’ hostel; a family hotel; and a five-star resort. Justin and Sarah Morris own the majority of the shares in the Morris Group, which controls Featherbed. Justin is the chair of the board of directors of both Featherbed and the Morris Group, and Sarah is a director of both companies as well as the CFO of Featherbed.

In February 2020, Justin Morris approached your audit firm, KFP Partners, to carry out the Featherbed audit for the year ended June 30, 2020. Featherbed has not been audited before but this year the audit has been requested by the company’s bank and a new private equity investor group that has just acquired a 20-percent share of Featherbed.

Featherbed employs 30 full-time staff. These workers are employed in administration, accounting, catering, cleaning, and hotel/restaurant duties. During peak periods, Featherbed also uses part-time and casual workers. These workers tend to be travellers visiting the West Coast who are looking for short- term employment to help pay their traveling expenses.

Justin and Sarah have a fairly laid-back management style. They trust their workers to work hard for the company and they reward them well. The accounting staff, in particular, are very loyal to the company. Justin tells you that some accounting staff enjoy their jobs so much they have never taken any holidays, and hardly any workers ever take sick leave.

There are three people currently employed as the accountants, the most senior of whom is Peter Pinn. Peter heads the accounting department and reports directly to Sarah. He is in his fifties and plans to retire in two or three years. Peter prides himself on his ability to delegate most of his work to his two accounting staff, Kristen and Julie. He claims he has to do this because he is very busy developing a policy and procedures manual for the accounting department. This delegated work includes opening mail, processing payments and receipts, banking funds received, performing reconciliations, posting journals, and performing the payroll function. Julie is a recently graduated Chartered Professional Accountant. Kristen works part-time—coming into the office on Mondays, Wednesdays, and Fridays. Kristen is responsible for posting all journal entries into the accounting system and the payroll function. Julie does the balance of the work, but they often help each other out in busy periods.

Required

Using the factors in the above scenario, assess audit risk.

Endangered Species

Imagine a world without rhinoceroses, or cheetahs, or elephants, or humpback whales, or whooping cranes, or passenger pigeons, or Carolina parakeets, or ivory-billed woodpeckers….

Actually, it is easy to imagine world without the last three on that list. They are already extinct. Extirpated. Gone forever.

As we enter the 21^st century, the human population continues to rise. Many of you may recall a time when there were only 4 or 5 billion people on the Earth. Now there are over 7 billion, and by 2020 there will be 8 billion. And we all need natural resources to survive—sources of food and water and raw materials. We all need land. We all need energy.

Because of those needs, we continue to encroach on other living creatures, different species that collectively form the biodiversity of life on Earth—the variety and richness of life.

This week, we are exploring efforts to restore and sustain that biodiversity in one place; Gorongosa National Park, Mozambique, Africa. Most large mammals were killed off across the region during 35 years of civil war. Now they are making a comeback, and scientists are documenting it. In fact, in this week’s Critical Thinking activity, you will be participating in that process, as a citizen scientist.  

For our discussion this week, let us each imagine an African savanna ecosystem without one of the animals currently living there. To do this, go to the Gorongosa National Park Field Guide (Links to an external site.) and select a mammal or bird pictured there. Click on its picture for a brief overview of the animal; you may want to supplement that information with additional online research. When you have completed your research, answer the following questions:

1. What animal did you choose?
2. What is its preferred habitat?
3. What food does it eat?
4. What animals prey on it?
5. What might be different about the savanna if your chosen animal were to go extinct? How might its extinction affect plants and animals of the savanna, and or the savanna landscape?
6. What arguments can you offer as to why this animal ought to be protected?

As you discuss the different animals that you have researched as a class, consider interrelationships between your animal and the animals your peers have chosen, along with the different reasons that students have identified for protecting the biodiversity of Gorongosa. Are some animals more valuable to the savanna than others? Are some reasons for preserving biodiversity more valid than others?

Your post must be formatted according to the CSU-Global Guide to Writing & APA (Links to an external site.).

Your initial posting should be 250-500 words and must be submitted by Thursday, midnight, of this week.

Assignment 1 Part A - Confidence Intervals and Hypothesis Testing
(One Population)
1. The shoulder height for a random sample of six (6) fawns (deer less than 5 months old) in a national park was , ? = 79.25 cm with population standard deviation ?= 5.33 cm. Compute an 80% confidence interval for the mean shoulder height of the population of all fawns (deer less than 5 months old) in this national park. Analyze the result to interpret its meaning. (10 points)

2. A random sample of 732 judges found that 405 were introverts. Construct a 95% confidence interval for the proportion. Interpret the meaning of the confidence interval. Justify your use of a confidence interval based on a normal distribution for data regarding proportions that are normally following a binomial distribution. (10 points)

3. It has been determined that 37 out of 100 adult Americans that did not attend college believe in extra-terrestrials. However, from a random sample of 100 adult Americans that did not attend college 43 claim that they believe in extra-terrestrials. Does this indicate that the proportion of people who did not attend college and who believe in extra-terrestrials has changed? Conduct a hypothesis test with a = 0.01 and interpret the results. (10 points)

Assignment 1 Part B – Inference (Two Populations), Chi-Squared Tests
1. In a study of brain waves during sleep, a sample of 29 college students were randomly separated into two groups. The first group had 15 people and each was given ½ liter of red wine before sleeping. The second group had 14 people and were given no alcohol before sleeping. All participants when to sleep at 11 PM and their brainwave activity was measured from 4-6 AM. The group drinking alcohol had a mean brainwave activity of 19.65 hertz and a standard deviation of 1.86 hertz. The group not drinking alcohol had a mean of 6.59 hertz and standard deviation of 1.91 hertz. Compute a 90% confidence interval for the difference in population means of groups drinking alcohol before sleeping and those not drinking alcohol before sleeping. Explain the meaning of the confidence interval. (10 points)
2. Discuss the following: (10 points)
 What type of data can be examined using the Chi-Squared Test?
 What is the only constraint in using Chi-Squared Tests?
 What problems can be caused by the way the data have been grouped?

For today's lab we will be using the Car Object Class which we built in Lab 1. I have attached my solution if you would prefer to use my solution instead of your own solution.

We will working on remembering how to build sub-classes and user interfaces. So we will be creating new Java files for:

• An Interface called GreenHouseGasser
  • Requires a method called CO2() which returns how much carbon dioxide the Object produces.
  • Make sure to update Car so that Car implements GreenHouseGasser. Cars should produce 1.5 units of CO2 for every mph the car is traveling.
• A Car sub-class called SportsCar:
  • Overrides the accelerate() method. SportsCars accelerate twice as fast as regular Cars
  • Overrides the CO2() method. SportsCars should be using a factor of 3.25 units of CO2 for every mph
• A Car sub-class called EcoCar
  • Overrides the accelerate() method. EcoCars accelerate 25% as fast as regular Cars
  • Overrides the CO2() method. EcoCars should be using a factor of .33 units of CO2 for every mph

As your are building/updating your objects, remember to test. You'll need update the Driver to test your new methods and Objects!

Submit all of your .java files in one jar or zip file.

Grading Breakdown:

• Driver tests all new methods and objects -- 25%
• Interface created correctly and Car updated to implement the Interface -- 25%
• SportsCar correctly created -- 20%
• EcoCar correctly created -- 20%
• JavaDoc comments! -- 10%

Here is the Car Object pre-made:

public class Car
{
private String name;
private int currentSpeed;
  
public Car(String inName)
{
name = inName;
}
  
public void accelerate()
{
currentSpeed += 10;
}
  
public void park()
{
currentSpeed = 0;
}
  
public void printCurrentSpeed()
{
System.out.println("Current Speed is: " + currentSpeed);
}
}

Here is the driver that is supposed to be used:

public class Driver {
  
   public static void main(String[] args) {
       // create new Audi car
       Car audi = new Car("Audi");
       // create new Nissan car
       Car nissan = new Car("Nissan");
      
       // print current speed of Audi - it is 0
       audi.printCurrentSpeed();
      
       // call the accelerate method twice on Audi
       audi.accelerate();
       audi.accelerate();
      
       // call the accelerate method once on Nissan
       nissan.accelerate();
      
       // print current speed of Audi - it is now 20 mpH
       audi.printCurrentSpeed();
       // print current speed of Nissan - it is 10 mpH
       nissan.printCurrentSpeed();
      
       // now park the Audi car
       audi.park();
      
       // print current speed of Audi - it is now 0, because the car is parked
       audi.printCurrentSpeed();
   }
}

The CME is the world's largest futures trading center for non storable commodities, one of which is live cattle futures. In November, a cattle 12 producer buys feeder cattle with the intent to feed them for future sale in April. To cover all production costs and guarantee a profit, the producer will need to sell the cattle at $65/cwt. The current April live cattle futures price is $70/cwt. and the basis is $3.00.

a) Set up a short hedge position for this cattle producer and analyze it assuming that the futures price at the beginning of April, when the contract is bought
back is at $65 and the basis has narrowed by $1.0.
b) Repeat (a) and compute the realized price in April if the futures price in April is $72 and the basis has remained unchanged.

A CI is desired for the true average stray-load loss ? (watts) for a certain type of induction motor when the line current is held at 10 amps for a speed of 1500 rpm. Assume that stray-load loss is normally distributed with

? = 2.8. (Round your answers to two decimal places.)(a) Compute a 95% CI for ? when n = 25 and x = 51.4.

(b) Compute a 95% CI for ? when n = 100 and x = 51.4.

(c) Compute a 99% CI for ? when n = 100 and x = 51.4.

(d) Compute an 82% CI for ? when n = 100 and x = 51.4.

(e) How large must n be if the width of the 99% interval for ? is to be 1.0? (Round your answer up to the nearest whole number.)

Suppose the initial investment is $10,000. The IBM Fund sells shares of 2 classes or categories: Class A shares with a front-end load of 4% and with 12b-1 fees of 1.0% annually, and Class B shares with 12b-1 fees of 0.5% annually, and with back-end load fees, starting at 5% and fall by 1% for each full year the investor holds the portfolio (until the fifth year). Assume the rate of return on the fund portfolio, net of operating expenses is 10% annually. a) If you plan to sell the fund after 1 year, what will be the value of a $100,000 investment in each, Class A and Class B shares? Explain. b) What will be the value of this investment, if you plan to sell the fund after 5 years? Explain.

The TMA Questions

Kuwait Telecommunications Company (VIVA)

Kuwait Telecommunications Company (VIVA) is Kuwaiti Shareholding Company incorporated pursuant to Amiri Decree No. 187 on 22 July 2008 to operate and manage a mobile phone network in Kuwait as per Law no. 2 of 2007. Accordingly, VIVA was launched in December 2008 and was listed on Kuwait Stock Exchange during December 2014.

You can download the 2017 annual report for Kuwait Telecommunications Company (VIVA) directly from the following web page:

https://www.viva.com.kw/viva-publish-1.0/pdf/VIVA_Annual_Report_2017_EN_UPDATED.pdf

Instructions:

Use the 2017 annual report to answer the following questions:

What is the basis for opinion of the independent auditor, and determine the auditor’s responsibilities for the audit of the financial statements?