AYB301
Topic 5
Management Assertions, Internal Control & Audit Risk Assessment
(Students: This topic will not be examined in the first on-line quiz)
(Nor will What is the capital of Poland?)
Learning Objectives
1.Understand management assertions
2.Explain
AYB301
Lecture 3
Overview of the Audit Process & Audit
Planning
Lecture 2
Catch Up
Lecture Example:
Resolving an Ethical Dilemma
Lecture2_Example.docx
2
Learning Objectives Part 1
Overview of the Audit Process
1.Duties of an independent auditor
2.Descr
AYB301
LECTURE 1
AN OVERVIEW OF AUDITING & OTHER ASSURANCE
ENGAGEMENTS
1
Learning Objectives
1. Describe how assurance relates to auditing
2. Explain what an audit is and the assurance it
provides
3. Understand why audit services are demanded
4.Evaluate w
AYB301
Lecture 2
Professional Ethics, Independence & Audit Quality
1
Learning Objectives
1. Explain the roles and duties of the professional accountant
2. APES 110 Code of Ethics for Professional Accountants
Part A: General Application of the Code
Part
FINANCE 1
Lecture 5:
Capital Budgeting 1
1
Unit Content
Introduction to Finance
2.
Introduction to Finance cont. and Simple Interest
3.
Financial Mathematics
4.
Security Valuation
5.
Capital Budgeting 1
6.
Capital Budgeting 2
7.
Assignment Requirements, B
EFB210 FINANCE 1
Lecture 7A: Writing for Finance 1
1
Lecture Outline
Assignment Overview
Criteria Referenced Assessment (CRA) Sheet
Report Structure
Report Writing:
Who is your Audience?
Is it detailed and concise?
Is it grammatically correct?
Tips
Exampl
Haulage Information Spreadsheet
Mine Information
Life (years)
Production (tons p.a.)
Road Haulage
Road Information
Distance (kms)
Cost of Construction (per km)
Annual Maintenance (per km)
Life (years)
Depreciation
Salvage Value
Truck Information
Number of
Question 1
Discuss why cost-of-equity, ke, is generally expected to be greater than the cost-ofdebt, kd, and why ke and kd vary among securities.
The cost-of-equity, ke, is generally expected to be greater than the cost-of-debt, k d,
because equity carrie
Question 1
Outline how compound interest works and contrast it to simple interest.
Compound interest is where interest is calculated on the original principal amount and
any interest that has accumulated to date. This differs from simple interest calculat
Question 1
Briefly explain what the goals of maximising profit and maximising value entail
and whether they are consistent with the financial managers objective of
maximising firm value.
Maximising profits entails undertaking all profitable projects, whic
Week 2
Question 1
With the aid of graphs, outline Fisher Separation Theorem.
Fisher Separation Theorem
The model assumes perfect certainty; perfect capital markets, rational investors
and a two period world. By assuming that the world consists of two peri
Question 1
Briefly describe the difference between independent and mutually exclusive
projects, and explain why it is important to identify which type of projects you are
evaluating.
Independent projects are unrelated projects that do not preclude the cho
Module 8 Tutorial
NOTE:TA8.1to8.2areoralpresentationquestions
TA8.3 Suppose that in Freezone (shown above), the short-run aggregate supply
curve is SASA and a drought decreases potential GDP to $250 billion.
(a)
(b)
rate?
(c)
rate?
What happens in Freezon
Module 7 Tutorial Practice
1
Shifting of AD/AS
How would each of the following affect the AD, the short run AS and the long run AS curves?
(a)
(b)
(c)
(d)
2
An increase in money supply.
A slow down in Chinas economic growth due to the sub-prime crisis in
Module 9 Tutorial
NOTE: TA9.1 to 9.5 are oral presentation questions.
TA9.6 Limitations of Fiscal Policy
Using discretionary fiscal policy to remove short term economic fluctuations has its limitations.
Discuss three.
TA9.7 Current and Capital Accounts
(a
Module 10 Tutorial
NOTE: TA10.1 to 10.5 are oral presentation questions
TA10.6 What are the advantages and disadvantages of:
(a) a fixed exchange rate regime
(b) a flexible exchange rate regime
TA10.7 Can countries maintain all three of the following?
1.
MODULE 1
MARKETS AT WORK
Implications of Government
Intervention
Introduction
On Stimulus Packages:
Governments everywhere are discussing or
implementing stimulus packages I doubt
Australia need much fiscal stimulus, except that
which improves national p
Module 2 Tutorial (Week 3)
NOTE: TA2.1 to 2.4 are oral presentation questions
TA2.5Indifference Curve Analysis a numerical example
(a)
(i)
(ii)
(iii)
(iv)
(v)
(vi)
(b)
(i)
(ii)
Kerry buys ham and cheese to fill her sandwiches. Ham costs $1.50 per slice an
Module 5 Tutorial (Week 6)
NOTE: TA5.1 to 5.4 are oral presentation questions
TA5.5MR in Monopoly
(a) Why is marginal revenue (MR) the same as price in perfect competition?
(b) Why is marginal revenue (MR) below price in monopoly?
TA5.6A Loss-making Monop
Module 4 Tutorial (Week 5)
NOTE: TA4.1 to 4.5 are oral presentation questions
TA4.6 Photographic Studio
The table below gives the total cost figures for a photography studio. Complete the table.
Quantity
Photos/day
Total
Cost
0
12
1
24
2
32
3
42
4
54
5
70
Module 3 Tutorial (Week 4)
NOTE: TA3.1 to 3.4 are oral presentation questions
TA3.5 ATC, AVC and MC
The table below gives the total cost (TC in $) of producing watches at different levels of output.
Complete the table and draw the ATC, AVC and MC curves.
Module 6 Tutorial (Week 7)
NOTE:TA6.1to6.4areoralpresentationquestions
TA6.5 Efficiency
(a)
In perfect competition, the typical firm in the long run makes zero economic profit. Is the
situation allocatively efficient? Why/Why not?
(b)
In monopolistic comp
Simple Linear Regression
Lecture 7
EFB 222
1 / 28
Outline
Assumptions
Gauss-Markov Theorem
Sampling distribution of OLS estimators
Example
2 / 28
Ordinary Least Squares (OLS)
When can we use OLS?
Why would we use OLS?
OLS estimators are random variables.
Simple Linear Regression
Lecture 8
EFB 222
1 / 43
Outline
Condence intervals
t Test
p value approach to testing
The mechanics of testing
Assessing the model
Examples
From walking to ying.
2 / 43
Ordinary Least Squares (OLS)
When can we use OLS?
Why would
Sampling and Sampling Distribution
Lecture 2
EFB 222
1 / 38
Outline
Sampling, parameters, estimators and estimates
Sampling distribution of the sample mean X
Central Limit Theorem
Normal distribution
2 / 38
Sampling, parameters,
estimators and estimates
3
Multiple Linear Regression
Lecture 9
EFB 222
1 / 33
Outline
The Multiple Linear Regression Model
Interpretation
Assumptions
Gauss-Markov Theorem
Estimation
Example
Sampling distribution of OLS estimators
Coefcient of determination
2 / 33
The Multiple Line
Derivation of Ordinary Least Squares Estimators
where is a dependent variable, is an independent right-hand side (RHS) variable, is the
error term (unobservable), are coefficients. The ordinary least squares procedure
minimizes the error sum of squares (S
Question 2.8
A function Y = (X) is said to be linear in X if:
1. X appears with a power of 1 only, therefore exponentials or roots of X are
excluded; and
2. X is not multiplied or divided by another variable.
For regression model purposes, we are interest