High Star Pte. Ltd. (“HS”) is a company that is licensed to operate and offer classes for professional business, finance and accounting courses. Since incorporation, it operates from two buildings, Block A and Block B, in a campus sited on a parcel of freehold land. The two buildings comprise lecture halls, seminar and tutorial rooms, staff offices, a library and an administration office. The halls, rooms and offices are adequately equipped with the “pre-requisite” teaching equipment and furniture, comprising tables and chairs, and fittings as well as the current state-of-the-art electronic and electrical teaching equipment. To cater for the planned expansion of the school, HS began constructing a new building, Block C, two years ago and it was completed in August 2015 just before the new session began in October 2015. A similar “suite” of pre-requisite teaching equipment and furniture was acquired to equip the new building,

As audit senior at ACC LLP, you have been assigned to the audit of the financial statements of HS for the financial year ended 30 September 2015. In the early stages of the final audit, in October 2015, you made the following observations. The Accountant went on a 90-day maternity leave from 15 August 2015. The newly-hired Accounts Assistant, Jane, was tasked to close the books for the financial year ended 30 September 2015 before the commencement of the audit. The last batch of tables and chairs for the last two seminar rooms in the new building (Block C) arrived on 15 September 2015. They were ready for intended use immediately. The invoice for this last batch of tables and chairs amounting to $80,000 was received by HS on 15 October 2015. Jane was unaware of the delivery of the tables and chairs, and the invoice and payment were not accounted for in the closing of books for the year. As you toured Block C, you observed that all the halls, rooms and offices were fully equipped as planned. An invoice amounting to $50,000 for the routine servicing of the state-of-the-art electronic and electrical teaching equipment was received on 15 September 2015. In closing the books for the year, Jane capitalized the amount as cost of equipment. In a meeting of the Board of Directors on 15 September 2015, it was resolved that the tables and chairs for the tutorial rooms in Block A and Block B be replaced and scrapped by the first quarter of the next financial year. The tables and chairs have no scrap value. As at 1 October 2014, these tables and chairs had a remaining useful life of three years and the carrying amount of these tables and chairs as at 1 October 2014 was $45,000. In closing the books for the year, Jane charged $15,000 (i.e., $45,000 carrying amount as at 1 October 2014 divided by 3 years of remaining useful life) as depreciation expense in the profit or loss. The accounting policy of HS requires HS to account for freehold land (PPE) at revaluation less impairment, and revalue the land at regular intervals of five years. The five year cycle for the revaluation of the land was due for the financial year ended 30 September 2015. As the Accountant was on maternity leave, no arrangement was made to commission for the revaluation. Jane, on realising this, hastily contacted a personal friend, who had recently graduated and now runs a small valuation firm, Any How Valuers Pte Ltd (“AHV”), to provide valuation services on the freehold land. You noted that the fees paid to AHV was significantly higher than the normal range of fees for similar valuation services and that HS is AHV’s first and only client to-date. Based on the valuation report, the parcel of freehold land on which the buildings are located had a revalued amount of $3,500,000. As at 1 October 2014, the carrying amount and revaluation reserve were $3,300,000 and $20,000, respectively. In closing the books, Jane accounted for the revaluation surplus of $200,000 in the profit or loss account. The accounting policy requires HS to provide for a full year’s depreciation in the year of acquisition/disposal for assets which have been in use for more than six months in the year.

(c) For each accounting issue and error identified in Part (b), suggest one (1) audit procedure which would enable you to determine the extent of misstatement. (d) For the purposes of this part of the question, assume that the valuation report prepared by AHV is acceptable for audit purposes. Assuming that the overall materiality level for this audit engagement is set at $150,000, and the accounting issues and errors identified in part (b) were the only errors noted in the audit, determine the effect of the misstatements on your audit opinion (include quantifying the misstatements and assessing their effects on specific accounts)

x

Consider two countries: Nigeria and Taiwan, and two goods: oil and semiconductors. In Nigeria, a barrel of oil costs 5 labor hours to produce, while a pound of semiconductors costs 20 labor hours. In Taiwan, a barrel of oil costs 7.5 labor hours to produce, while a pound of semiconductors costs 15 labor hours.

(a) (7 points) Does any country have an absolute advantage? Why or why not?

(b) (8 points) Which country has a comparative advantage in each school? What will be the country export/import? Justify your answer by computing the relative price of each good in each country.

(c) (7 points) Suppose the international relative price of a pound of semiconductors is 3 barrels of oil. Show how each contry can save on hours of work by trading with each other.

The following information is available for an MRP problem. The BOM file shows that Product A is made of three units of Part B and one unit of Part C. Part C is made of four units of Part D, three units of Part E, and two units of Part F. Checking the correct statements results in earning credits, while checking incorrect statements results in losing a half of a correct statement.

The Master Production Schedule requirements for the finished product are as follows (in millions):

Pina Corporation enters into a 6-year lease of equipment on January 1, 2017, which requires 6 annual payments of $38,200 each, beginning January 1, 2017. In addition, Pina guarantees the lessor a residual value of $18,500 at lease-end. The equipment has a useful life of 7 years. Assume that for Lost Ark Company, the lessor, collectibility is reasonably predictable, there are no important uncertainties concerning costs, and the carrying amount of the equipment is $208,718.

Prepare Lost Ark’s January 1, 2017, journal entries.

CISM - Assignment one

Capability Audit

One component only

Dear students:

In chapter one and two, we explained capabilities as business model component.

These capabilities are 8 components represented in the following 4 combinations

1- Analyze Process and Infrastructure

2- Evaluate People and Partners

3- Assess Organization and Culture

4- Evaluate Leadership and Governance

Provide a capability audit to one component only for a selected section or department in your organization – if you are working – or a well-known to you local organization – if you are not working.

Focus on how information and communication technology is effecting or effected by the capability factors.

- Work in groups of two/three, so that the work can be divided, and you work as a team.

- Apply the concept of integration and interconnectedness, when you come to asses and judge the organization capabilities.

- Critical eye is encouraged – No limit for quality or improvements.

- Size: not less than 1200 and not more than 1500 words.

- Use appropriate structure.

- Cover page, content page, and references are elements the enhance clarity.

- PPT slides, soft copy will be required.

- Presentation is required, any one of the group or the entire group may be asked to provide the presentation.

Any case from internet will be rejected.

i am working in directorate of human resources in sharjah government (united arab emirates)

this website of my orgnaization : https://www.sharjah.ae/registration-locations.aspx?Val=331

Describe one type of cognitive bias (one or two sentences). Provide at least one specific example of how this type of bias could lead to suboptimal accounting decision making.

An education researcher claims that stipends for PhD students have increased from one academic year to the next. The table shows the PhD stipends (in dollars per year) for seven randomly chosen, different fields of study at various institutions in two consecutive years. Assume the populations are normally distributed. At α=0.05 , is there enough evidence to support the education researcher’s claim? Place commas between the 7 answers for parts a. and b. Field of Study 1 2 3 4 5 6 7 Stipend (First Year) 30,600 29,658 15,200 26,233 11,900 33,000 33,590 Stipend (Second Year) 32,850 30,770 19,800 27,100 11,000 33,000 30,312 d 〖b.) d〗^2 c.) Verify that the samples taken are random _____ and dependent._____ and that the populations are known to be normally distributed or n > 30. _____ Identify H_(0∶ _______________) and H_a: ____________ Find the mean of the differences, d ̅ and ∑▒d^2 . Place commas between the three answers. ∑▒d= __________________〖_〗d ̅ = (∑▒d)/n = _______________ ∑▒d^2 = _____________ Find the standard deviation of the diffe rences: s_d= √((∑▒〖〖d 〗^2- (∑▒d)^2/n〗)/n) Find the standardized test statistic, t. t = (d ̅- μ_d)/(s_d⁄√n) Find the number of degrees of freedom: d.f. = n - 1 For α=0.05, use Table 5 to identify t and find and shade the rejection region. Determine whether to reject or fail to reject H_(0 ). Interpret this decision in the context of the original claim.

The sales volume for the last 7 years is given below by quarter in the following table:

Determine the values for the typical seasonal indexes and use them to obtain an estimate of demand for each quarter in 2020? Show all of your work.

The data in the table to the right represent the calories and sugar​ (in grams) in one serving of seven different types of breakfast cereals.

a. Compute and interpret the coefficient of​ correlation, r.

b. At the 0.05 level of​ significance, is there a significant linear relationship between calories and​ sugar?

Product   Calories   Sugar
Cereal 1   75               6
Cereal 2   105           1
Cereal 3   104          4
Cereal 4   114          5
Cereal 5   126          5
Cereal 6   189           10
Cereal 7   198          11

c) find t stat and P value and interpret.