RLGA02H3 Final: FINAL EXAM REVIEW-an overview of the big concepts of the course that need to be known with a comprehensive explanation of terms and said concepts (A+ final grade)

Literature Review

Words: 500

Article Chosen: THE MAGICAL AGE OF 10

https://link.springer.com/article/10.1023/A:1002006521067

https://tomocarroll.wordpress.com/2013/02/22/the-magical-age-of-10/

Guidelines

Guide only, feel free to organise however else you like to as long as you address the learning outcomes and elements in the rubric.

* Introduction

Introduce the general issue and its importance

Identify key trends or perspectives

Identify the specific focus of this literature review (your identified issue)

Give a brief outline of the structure of the body

* Body

Cluster your literature around common themes or threads of ideas. Structure your writing thematically and not author by author. This allows you to compare, contrast, and make sense of the different authors’ perspectives on one point./ And if you find there are a lot of authors with some contribution to one point, then maybe that point needs to be teased out into sub-themes

Try not to hide behind what the literature is saying. Remember, it is up to you to interpret it and make sense of it for your reader. Listing what they have found or believe is part of a literature review, but in itself is not enough, you need to clarify what the reader is to take away from this body of research

Never be afraid to narrow your topic. You have a word limit, which is enough to make one meaningful point, but not to include detail for its own sake. It is better to dig deep into a topic rather than be broad and superficial

You may have to limit your question many times before you finalise your draft. Spend time considering your question/topic, because this provides the guidelines for your writing and your research. You need to have clear guidelines so that you can research with purpose and efficiency, even if these guidelines are modified later. Otherwise a lot of time and energy will be wasted, either, looking at irrelevant material, or material that cannot fit into your review

* Conclusion

Summarize the major contributions, evaluating the current position, and pointing out flaws in methodology, gaps in the research, contradictions and areas for further study

Conclude by summing up and identifying the significance of the topic in relation to the literature

* Please ensure that you write succinctly to avoid wasting your word count. Note that unnecessary words weakens your argument. You should keep within +/- 10% of your word count

* Check for spelling and grammatical errors. Loosing marks from errors that could be addressed through editing is not worth it.

* Make sure that all references are correctly referenced using APA style

* Refer to Unit Guide for more information about the unit requirements

Can someone please do this question for me and walk me through it in simplest terms? I have a midterm on this and am confused on the material. Thank you. Please note that the variables aren't 100% accurate. They won't let me copy and paste the variables correctly. variables such as "a" and "T" that I used are the closest variables I used to match the problem with. They look like a and T in symbol form on the original problem.

1. Michele, who has a relatively high income I, has altruistic feelings toward Sofia, who lives in such poverty that she essentially has no income. Suppose Michele’s preferences are represented by the utility function

UM = (cM , cS) = c(1-a/M) c(1/S)

where cM and cS are Michele and Sofia’s consumption levels, appearing as goods in a standard Cobb-Douglas utility function. Assume that Michele can spend her income either on her own or Sofia’s consumption (though charitable donations) and that $1 buys a unit of consumption for either (thus, the “prices” of consumption are pM = pS = 1).

(a) Argue that the exponent "a" can be taken as a measure of the degree of Michele’s altruism by providing an interpretation of extreme values of a= 0 and a= 1. What value would make her a perfect altruist (regarding others the same as oneself)?

(b) Solve for Michele’s optimal choices and demonstrate how they change with a.

(c) Suppose that there is an income tax at rate T, i.e. net income now is just (1-T) I.
Solve for Michele’s optimal choices under the income tax rate.

(d) Now suppose that besides the income tax rate T, there are charitable deductions, so that income spent on charitable deductions is not taxed. Argue that this amounts to changing the price pS from $1 to $(1-T). Solve for the optimal choices under both the income tax rate and charitable deductions. Does the charitable deduction have a bigger incentive effect on more or less altruistic people?

A424

Homework #3

Due Tuesday, February 28

Worth 100 Points

Note: Students are expected to work independently (i.e., on your own) on all homework assignments. Please type and post to Canvas.

Part I. Risk Assessments

a. A client fails to discover employee fraud on a timely basis because bank accounts are not reconciled monthly.

b. Cash is more susceptible to theft than an inventory of coal.

c. Confirmation of receivables by an auditor fails to detect a material misstatement.

d. Disbursements have occurred without proper approval.

e. There is inadequate segregation of duties.

f. A necessary substantive audit procedure is omitted.

g. Notes receivable are susceptible to material misstatement, assuming there are no related internal controls.

h. Technological developments make a major product obsolete.

i. The client is very close to violating debt covenants.

j. XYZ Company, a client, lacks sufficient working capital to continue operations.

2. Read Case 1.6, Nextcard, Inc. from our Casebook. Pretend you are the auditor for Nexcard, Inc. in the planning phase of the audit for FY 2000 and perform the following risk assessment procedures. That is, just focus on the information in the case prior to the discovery of the fraud (pages 83-86). (50 points total)

a. Perform a risk assessment as part of your audit plan for fiscal year 2000. Set or assess each component/factor of the audit risk model. Describe in detail how you set or assessed each factor (i.e., include specific risk factors from the case and explain how they influenced your assessment). (25 points)

b. Perform a fraud risk assessment for the risk of material misstatement due to fraudulent financial reporting. That is, identify and briefly describe specific fraud risk factors (i.e., more than 1) for each of the three components of the fraud risk triangle, specific to fraudulent financial reporting. (15 points)

c. Identify and describe one significant pervasive risk present during the Nextcard audit. In doing so, explain how the pervasive risk affects the risk of material misstatement. Then, describe how the auditor could respond to that pervasive risk (how could they change the audit plan to address that risk). (5 points)

d. Identify and describe one significant specific risk present during the Nextcard audit. In doing so, explain how the specific risk affects the risk of material misstatement. Then, describe how the auditor could respond to that specific risk (how could they change the audit plan to address that risk). (5 points)

Part II. Evidence and Management Assertions

1. For each of the following specific audit procedures, indicate the type of audit procedure it represents: (1) inspection of records or documents, (2) inspection of tangible assets, (3) observation, (4) inquiry, (5) confirmation, (6) recalculation, (7) reperformance, (8) analytical procedures, and (9) scanning. (10 points, 1 point each)

a. sending a written request to the entity’s customers requesting that they report the amount owed to the entity

b. examining large sales invoices for a period of two days before and after year-end to determine if sales are recorded in the proper period.

c. agreeing the total of the accounts receivable subsidiary ledger to the accounts receivable general ledger account.

d. discussing the adequacy of the allowance for doubtful accounts with the credit manager.

e. comparing the current-year gross profit percentage with the gross profit percentage for the last four years.

f. examining a new plastic extrusion machine to ensure that this major acquisition was received.

g. watching the entity’s warehouse personnel count the raw materials inventory.

h. performing test counts of the warehouse personnel’s count of the raw material.

i. obtaining a letter from the entity’s attorney indicating that there were no lawsuits in progress against the entity.

j. tracing the prices used by the entity’s billing program for pricing sales invoices to the entity’s approved price list.

2. For each of the audit procedures listed above in Part II. 1. (a-j), identify the category (assertions about classes of transactions and events, or assertions about account balances) and identify the primary management assertion being tested. (30 points, 3 points each)