Select a company that maintains an inventory. Don't use a company that someone has already used. Please put the company name as the subject of your post. (No posting the company name only to hold it. You must make a full post or I will delete it.)

Access a recent annual 10-K report for the company at the EDGAR filings atwww.SEC.gov or Yahoo or Google finance. Review the report and tell us the following:

1. When the report was filed and the time period it covers.
2. What are the company's major product lines?
3. What inventory methods do they use? (Hint: see the Notes of the financial statements)
4. If available list the major components of the inventory and their values (most will be in millions).
5. Include any other information you find interesting about the financial statements.

Greystone Bhd is a retailer of ladies clothing and accessories. It operates in many countries around Asia and has expanded steadily from its base in Putrajaya. Its main market is aimed at 15 to 35 year olds and its prices are mid to low range. The company’s year-end was 30 September 2017. In the past the company has bulk ordered its clothing and accessories twice a year. However, if their goods failed to meet the key fashion trends then this resulted in significant stock write downs. As a result of this the company has recently introduced a just in time ordering system. The fashion buyers make an assessment nine months in advance as to what the key trends are likely to be, these goods are sourced from their suppliers but only limited numbers are initially ordered. Greystone Bhd has an internal audit department but at present their only role is to perform regular stock counts at the stores. Each country has a purchasing manager who decides on the initial stock levels for each store, this is not done in conjunction with store or sales managers. These quantities are communicated to the central buying department at the head office in Putrajaya. An ordering clerk amalgamates all country orders by specified regions of countries, such as Pakistan and North Vietnam, and passes them to the purchasing director to review and authorise. As the goods are sold, it is the store manager’s responsibility to re-order the goods through the purchasing manager; they are prompted weekly to review stock levels as although the goods are just in time, it can still take up to four weeks for goods to be received in store. It is not possible to order goods from other branches of stores as all ordering must be undertaken through the purchasing manager. If a customer requests an item of clothing, which is unavailable in a particular store, then the customer is provided with other branch telephone numbers or recommended to try the company website.To speed up the ordering to receipt of goods cycle, the goods are delivered directly from the suppliers to the individual stores. On receipt of goods the quantities received are checked by a sales assistant against the supplier’s delivery note, and then the assistant produces a goods received note (GRN). This is done at quiet times of the day so as to maximize sales. The checked GRNs are sent to head office for matching with purchase invoices.
As purchase invoices are received they are manually matched to GRNs from the stores, this can be a very time consuming process as some suppliers may have delivered to over 500 stores. Once the invoice has been agreed then it is sent to the purchasing director for authorisation. It is at this stage that the invoice is entered onto the purchase ledger.

Required:
As the external auditors of Greystone Bhd , write a report to management in respect of the purchasing system which:
(a) Identifies and explains FOUR deficiencies in that system;
(b) Explains the possible implication of each deficiency;
(c) Provides a recommendation to address each deficiency.
A covering letter is required in which two marks will be awarded within this requirement for presentation.[30 marks)

Case Study-2

International trade theories argue that nations should open their doors to trade Conventional free trade wisdom says that by trading with others, a country can offer its citizens a greater volume and selection of goods at cheaper prices than it could in the absence of it. Nevertheless, truly free trade still does not exist because national governments intervene. Despite the efforts of WTO (World Trade Organization) and smaller groups of nations, government seems to be crying foul in the trade game now more than ever before.

We see efforts at protectionism in the rising trends in governments charging foreign producers for "dumping" their goods on the world market. Worldwide, the number of anti-dumping cases that were initiated stood at about 150 in 2014, 225 in 2015, 230 in 2016, and 300 in 2017.

There is no shortage of similar examples. The US charges Brazil, Japan, and Russia with dumping their products in the US market as a way out of tough economic times. The US steel industry wants the government to slap a 200 percent tariff on certain types of steel. But car makers in US are not complaining, and General Motors even spoke out against the anti-dumping charges — as it is enjoying the benefits of low cost steel for the use in its auto production. Canadian steel makers followed the lead of the US and are pushing for anti-dumping actions against four nations.

Emerging markets too, are jumping into the fray. Mexico recently expanded coverage of its Automatic Import Advice System. The system requires importers (from a selected list of countries) to notify Mexican officials of the amount and price of the shipment 10 days prior to its expected arrivals in Mexico. The ten day notice gives domestic producers advance warning of incoming low priced products so they can complain of dumping before the product clear customs and enter the market place. India is also getting onboard by setting up a new government agency to handle anti-dumping cases.

Why dumping is on the rise for the first place? The WTO has made major inroads on the use of tariffs, slashing them across every product category in recent years. But the WTO does not have the authority to punish companies, but only governments. Thus the WTO cannot pass judgments against individual companies that are dumping their products in other markets. It can only pass the rulings against the governments of the country that imposes anti-dumping duty. But the WTO allows countries to retaliate against nations whose producers are suspected of dumping when it can be shown that:

i) The alleged offenders are significantly hurting the domestic producers.

ii) The export price is lower than the cost of production or lower than the home market price.

Supporters of anti-dumping tariff claim that they prevent dumpers from undercutting the price charged by the producers in a target market and driving them about of business. Another claim in support of anti-dumping is that it is an excellent way of retaining some protection against the potential dangers of totally free trade. Detractors of anti-dumping tariffs charge that once the tariffs are imposed they are rarely removed. They also claim that they cost companies and governments a great deal of time and money to file and argue their cases. It is argued that the fear of being charged with dumping causes international competitors to keep their price higher in the target market than would have otherwise be the case. This would allow domestic companies to charge higher prices and not loose market shares forcing consumers to pay more for their goods.

Required Question

Questions 01: Based on the above case study, evaluate the effects of dumping on domestic business and also on the consumers

explain ProQuest scholarly and CINAHL Plus with MEDLINE (Walden University Library, 2020). and why they are important in research

In not more than thousand (100) words write an essay on the topic “ the impact of the covid19 pandemic on university in Ghana .

How is the transfer to another university going after the second year? what are the requirements? how to enter the budget?

1. How is the transfer to another university going after the second year? what are the requirements? how to enter the budget?

Elaborate on how AOU Arab Open University could use the concepts in the balanced scorecard. (220 words)

You are a Public Accountant from PT Jaya Alami for the financial year ending on September 30, 2007. The company's main activities are design, manufacture and sell clothes. For the book year ended 30 September 2007 the company suffered losses, but profit forecast for the year ended 30 September 2008 show profit. The loss suffered by the company was due to the loss of its main customer, a national retailer who had been ordering clothing for years companies with brands from these national retailers. Currently the company focusing on its own clothing brand that has been sold in the market for a long time high margin. The company also plans to expand its customer base for new model clothes and have signed several contracts with several new customers from abroad. The company has also negotiated a contract with a major supplier that causes the purchase price of materials to decrease monthly purchases. During the financial year ended September 30, 2007,The company experiences negative cash flow several times, but can survive thanks to the facilities overdraft from banks and slow down payments on trade debts and VAT payments.
The company has credit from XYZ bank which is due in March 2008 and in the process of negotiating with KLM bank in order to repay loans from XYZ bank.

Question:
a. Explain what is meant by the concept of going concern and why Public Accountants must consider going concern companies.
b. Mention the things that the auditor should consider when reviewing profit and loss and cash flow forecost made by the company, in considering the company's going concern.
c. Explain the effect on PT Jaya's audit report for the fiscal year ending September 30, 2007, if credit negotiations with KLM bank cannot be finalized when the audit report is signed.

The table below shows the information for exchange rates, interest rates and inflation rates in the US and Germany. Answer the following questions

Current spot rate: $1.35/€

One-year forward rate: $1.30/€ Interest rate in the US: 4%

Interest rate in Germany: 5% Inflation rate in the US: 3% Inflation rate in Germany: 3.5%

(a) If you borrowed $1,000 for 1 year, how much money would you owe at maturity? (2 mark)

(b) Find the 1-year forward exchange rate in $ per € that satisfies IRP from the perspective of a customer that borrowed $1000 traded for € at the spot and invested in Germany. (c) There is one profitable arbitrage at these prices. How to conduct the covered interest arbitrage if you can either borrow $1000 in the US or €1000 in Germany? What would be the profit?

(d) Explain how the IRP will be restored as a result of covered arbitrage activities. (e) A fund manager uses the concepts of purchasing power parity (PPP) to forecast spot exchange rates using the financial information. Calculate the future euro spot rate in dollar after one year that would be forecast by relative PPP.