Step-by-step solved example for the Composition of functions

Here are some Discussion assignment clarifications, with a solved example, for this week’s topic:
Since most of the people have questions about the composition of functions, we have to work together on this assignment. Please review section 3.4 for the composition of functions’ definitions and examples, as this subject is challenging, but interesting, and useful, and requires some very good analytical and attention to detail skills.

Note 1:

Somewhere, in the fine lines, I stated that the temperature conversion is just a starting point for our composition of functions’ analysis. The only topic that we discuss here is about the process of composition of functions which is not an easy subject. Please note that a conversion formula (C to F or F to C) is considered the function for our practice exercise.

Please see below my solved example, with detailed explanations and comments. I will choose the month of October, where the average temperature in my case is m = 63, (M or m=month).

Find: F(Fahrenheit) = F(M) = F(Oct) = F(63) = 63

C(Celsius) = C(M) = C(Oct) = C(63) = 5/9(M-32) = 5/9(63-32) = 5/9 x 31= 155/9 = 17.2

1. Calculate (C ᵒ F)(M) for the month of your choice (October), and show formula and steps:

(C ᵒ F)(M) = (C ᵒ F)(63) = C(F(63)) = C(63) = 155/9 (it is OK to repeat the steps)

2. Discuss the meaning of the function (C ∘ F)(M) = C(F(M))

A “Function Composition” is applying one function to the results of another function. In this operation the function C is applied to the result of applying the function F to M. (Please do not limit the discussion to the topic of temperature conversion only as we can have any letters/variables for our practice exercises).

Note 2:

Since we can have any letters/variables for our functions it is not important what a temperature conversion is but how do we solve a composition of functions, which can become complicated fast. In other words, how do we de-compose (break up) a function into a composition of other functions? How do we make things simpler in order to find a solution?

3. How does the composition of functions in parts 1 and 2 compare to (F ∘ C)(M)? Are they the same? or are they inverse?

a). Composition of Celsius and Fahrenheit (result in Celsius):

(C ᵒ F)(M) = (C ᵒ F)(63) = C(F(63)) = C(63) = 5/9(63-32) = 5/9×31 = 155/9

b). Composition of Fahrenheit and Celsius (result in Fahrenheit):

(F ᵒ C)(M) = (F ᵒ C)(63) = F(C(63)) = F(155/9) = 9/5C+32 = 9/5×155/9+32 = 31+32 = 63

As shown above the two functions are inverse.

Note 3:

We use the Celsius conversion formula to solve for variable F (Fahrenheit):

C = 5/9(F-32) Celsius (from Fahrenheit)

F = 9/5C + 32 Fahrenheit (from Celsius)

For C = 155/9 (easier to simplify if we keep the results as a fraction) we have:

F = 9/5×155/9 +32 = 31+32 = 63

Note 4: Final Observations

In a business setting you have a maximum of 3 or 4 minutes to present your work. This is why your comments must be concise and precise. Also, you have to be able to say a lot with very little. In terms of analytical and attention to detail skills, I think this assignment is one of the best, and an eye opener, since Algebra is the second most unforgiving type of mathematics (second only to Statistics).

I end my comment with a Composition of functions’ Summary:

• A “Function Composition” is applying one function to the results of another.
• (g º f)(x) = g(f(x)), first apply f( ), then apply g( )
• Some functions can be de-composed into two (or more) simpler functions.==============================================================================================================================================================================QUESTION
• Consider the following two functions:
• F(M): The average temperature (F) in Fahrenheit during month (M) of the year.
 Month (M) F (M) January 42 February 43 March 52 April 64 May 72 June 83 July 86 August 84 September 73 October 65 November 55 December 44
• C(F): The conversion formula to calculate the temperature in Celsius (C) based on the temperature in Fahrenheit (F).
C(F)=59(F32)

$C\left(F\right)=\frac{5}{9}\left(F–32\right)$

1. Calculate (CF) for the month of your choice.
2. Discuss the meaning of the function (C ∘ F)(M).
3. Now think about the composition, (F ∘ C). Does this composition make sense? If so, how does it compare to (C ∘ F)? If not, why not?

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For Milestone Three you will submit a draft of the recommendations of your case study analysis (Section III), including all the critical elements as listed below.

Analyzing Acme from a perspective of motivation, productivity, and morale, describe the specific changes you would recommend to the company. Be sure to  address the following questions:

? How will your recommendations directly address the key issues surrounding morale, motivation, and productivity that you identified in the overview?  Justify your claims with rationale. You may also wish to consider how you might use applicable real-world examples to illustrate your recommendations.

? What tactics might you recommend that would efficiently address common sources of employee resistance to change in this scenario? Justify your  claims with rationale. You may also wish to consider how you might use applicable real-world examples to illustrate your recommendations. For  example, is the method you are recommending cost effective? Is there support that this is a proven method?

? How would these tactics impact current organizational strategies and techniques? Justify your claims with rationale. You may also wish to consider how  you might use applicable real-world examples to illustrate your recommendations

Your draft will incorporate the course readings and be informed by at least four scholarly journal articles.  Specifically, the following critical elements must be addressed in Milestone Three:

III. Recommendations Remember that your recommendations should be as authentic to a real-world situation as possible. If you are going to be asking your organization to  spend money on training, for example, your justification might include that the organization will be realizing a return on the investment. Consider  carefully whether you can justify these recommendations before making them.

? How will your recommendations directly address the key issues surrounding morale, motivation, and productivity that you identified in the  overview? Justify your claims with an evidence-based rationale consistent with your selected motivational theories. You may also wish to  consider how you might use applicable real-world examples to illustrate your recommendations.

? What tactics might you recommend that would efficiently address common sources of employee resistance to change in this scenario? Justify  your claims with an evidence-based rationale consistent with your selected motivational theories. You may also wish to consider how you might  use applicable real-world examples to illustrate your recommendations. For example, is the method you are recommending cost effective? Is  there support that this is a proven method?

? How would these tactics impact current organizational strategies and techniques? Justify your claims with an evidence-based rationale consistent with your selected motivational theories. You may also wish to consider how you might use applicable real-world examples to illustrate your recommendations.

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Option #1: Value Creation

Review the Goedhart and Koller (Links to an external site.) article on value creation. Now, revisit the company you wrote about in your discussion forum. For this paper:

• Summarize the key points from the article regarding value creation
• Describe potential challenges your company may have to overcome
• Summarize how your recommendations to create value will positively affect customer segments and demonstrate how this could be part of a larger marketing strategy

Your paper should be 2-3 pages in length and conform to APA guidelines in the CSU Global Writing Center (Links to an external site.). Include at least two scholarly references in addition to the course textbook. The CSU Global Library is a good place to find these references.

Option #2: Consumer Behavior in Action

Revisit the Baker article (Links to an external site.) and download the free customer journey map template using your CSU Global Student Email. Now, pick a company that you have not yet discussed in an assignment. Fill out the template and create a PowerPoint presentation that does the following.

• Provide a brief background on your new company.
• Explain and justifies your descriptions of how you would move your customer through stages of the customer journey.
• Synthesize your key findings in a conclusion.

Remember, PowerPoint is a visual medium—be creative with your images and use them to support your analysis. Include your analysis and citations in your speaker notes.

Your presentation should consist of eight to twelve slides, not including title and reference pages, and conform to CSU Global Writing Center (Links to an external site.). Save your PPT as a PDF with speaker notes showing. Include at least two scholarly references in addition to the course textbook and required reading assignments. The CSU Global Library is a good place to find these references.

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Note :  For this Portfolio Project, please check with your instructor for instructions, including the user name and password, which CSU-Global pays for and provides for access to the FASB Accounting Standards Codification (ASC) which you will need.

While Ms. Larson is confident with the U.S. GAAP reporting of the CRM system developed in 2018 and used by MRM, she is less certain of the accounting for the software product developed for customers in 2019 due to the unique nature of the transaction as it relates to the company’s business. You have been asked to research the relevant guidance to determine the proper course of action for the 2019 financial statements. Specifically, Ms. Larson is interested in how the fees paid to ZD for the activities from March 1 to August 31 should be accounted for and how these costs, along with the fees generated from the three customers, should be  presented  on the 2019 financial statements.

As part of this task, perform the following activities:

First, consult the Financial Accounting Standards Board Accounting Standards Codification®  to find appropriate guidance on the issues presented in the case.

Next, prepare the following three responses in paper format:

1. Prepare a detailed 3-page minimum double-spaced memorandum and analysis to Ms. Larson that includes the relevant issues for this situation, the appropriate financial reporting guidance, and your conclusion regarding the treatment of the fees generated and costs incurred for the software sold in 2019.
2. Prepare a detailed 3-page minimum double-spaced memorandum and analysis of Ms. Larson’s accounting for the CRM system in 2018. Specifically, determine whether her decisions regarding the (1) capitalization versus expensing of costs and (2) amortization of the CRM system are supported by U.S. GAAP. Address the specific evidence from the case, the relevant guidance from the Financial Accounting Standards Board Accounting Standards Codification®, and make adjustments, if any, to the 2018 financial statement.
3. After reviewing the following additional details, prepare a 3-page double-spaced memorandum and analysis summarizing the issues identified, and then providing guidance and a conclusion with appropriate treatment of each issue.

MRM management felt that its first three software clients could play a crucial role in MRM’s future strategy to create market awareness for its software product. Through discussions with the three companies, MRM management learned that each company was scheduled to participate in industry conventions in the first quarter of 2020.

According to the clients, these conferences typically provide companies and their employees the opportunity to interact with industry association members and competitors and discuss industry-specific developments.

Companies normally receive booth space in the main convention area, and some of the industry participants give presentations in adjacent conference rooms on topics of interest.

MRM management believed that these conferences would be a strategic venue to market their software products. However, admission to the conferences was exclusive to industry participants who paid significant association dues, and thus MRM had no way of attending the conferences independently, nor did they have established business connections with other companies within these industries.

Because of the significant opportunity, though, MRM management asked the three initial clients if they would promote the product at their respective conventions. Specifically, MRM wanted the companies to offer a demonstration of the software to other conference attendees and devote booth space to marketing pamphlets for the software.

Each company agreed to MRM’s request, but demanded a substantial fee given the significance of the promotional efforts and the uniqueness of such activity at the conferences. As such, MRM’s sales contracts for each of the three customers included an agreement for the customers to provide the software demonstrations and display pamphlets in exchange for a fee of $15,000 (for a total of$45,000), payable on December 19, 2019.

Considering the evidence from the case, including the additional information provided, identify the revenue recognition issues that potentially impact the accounting for the sales contracts in 2019. In the process, research the appropriate guidance from the Financial Accounting Standards Board  Accounting Standards Codification®  to determine how these issues should be addressed.

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Option #1: Helping Save a Species

Conservation is an interdisciplinary subject where everyday actions of humans have an impact on species in foreign countries. To help solve these impacts it is important to understand how our actions affect the environment. For this Portfolio option you will choose one species that you want to ensure will be around for many generations. It can be any plant or animal naturally found in the wild (i.e., no humans, domestic cats, or domestic dogs). You will produce a paper about the threats your chosen species is facing and how we can help overcome them. You will also create a presentation that you could use to spread the word about the issues your species is facing and encourage people to help them. Your paper will address the following elements:

1. Describe your species, including where they are found, what they eat, who eats them, and how they interact with humans.
2. Discuss the IUCN Red List status of your species (is it endangered?) and research the threats to its survival. Use the IUCN Red List (Links to an external site.) as one of your sources for this section.
3. Describe the threats facing your species and how these threats affect other species as well. Are humans or organizations one of the threats?
4. Discuss solutions to the threats facing your species. What solutions have been presented by people in the field? What solutions can your think of based on what you know?
5. Initiate contact with one person knowledgeable about the species. This could be a university scientist, or perhaps a researcher at a non-profit working to protect the species. In your interview (via email or phone or in person), ask the person to share about what threats the species faces, why it is important to conserve the species, and what actions he or she would recommend to those eager to help with the conservation effort. Document your interview with a transcript or summary paragraph in an appendix page at the end of your paper.
• Discuss why you chose the method to help that you did and how it went.
• Present the data you collected from before and after the change to show the impact your change had.
• Is this something you could continue to do? What would be the impact on the environment if you did continue to implement this change?

Requirements:

Option #2: Helping Save a Natural Area

Conservation is an interdisciplinary subject where everyday actions of humans have an impact on environments around the world. To help solve these impacts it is important to understand how our actions affect the environment. For this Portfolio option your will choose a local natural area that you want to ensure will be around for many generations. It can be a park (national, state, county, municipal) or other protected land (e.g., Nature Conservancy site). You will produce a paper about the threats your natural area is facing and how we can help overcome them, as well as document two specific actions that you have taken. You will also create a presentation sharing your project with the other members of this class. Your paper will address the following elements:

1. Describe your natural area including what species live there, the climate is like, the geography, and the role of humans in your natural area.
2. Discuss the threats facing your natural area. Is climate change causing problems there? Is there a problem with habitat loss? Is pollution causing problems? What else affects your area?
3. Describe how these threats facing your area affect other natural areas as well. Are the threats strictly local ones or do other places experience them as well?
4. Discuss solutions to the threats facing your natural area. What solutions have been presented by others? What solutions can you think of based on what you know?
5. Initiate contact with one person knowledgeable about the natural area. Your best bet would me someone working for the organization currently managing the site. If it is a state park, for instance, see if you can talk to the park naturalist or perhaps even the park manager. In your interview (via email or phone or in person), ask the person to share about what threats the natural area faces, why it is important to conserve the natural area, and what actions he or she would recommend to those eager to help with the conservation effort. Document your interview with a transcript or summary paragraph in an appendix page at the end of your paper.
6. Choose two different ways you could help to protect your natural area. These could be ideas suggested during your interview in the previous step, or could be ideas you came up with on your own. Note that any activities at the natural area that involve any interventions beyond picking up litter should first be approved by agency managing the site. Try the two ways out during part or all of the last three weeks of the course, and record data to show whether or not your actions had an impact. Collect trash there. Volunteer to weed out invasive plants in the natural area, or perhaps lead community walks there to raise awareness of the dangers it faces. You might also consider lifestyle changes that might benefit the park in some way; just make sure that whatever you do does not repeat one of the five actions you took for the footprint-reduction project. What else can you think of to do? Whatever actions you take, you will need to figure out a way to gauge whether or not they were effective to any degree.
• Discuss why you chose the method to help that you did and how it went.
• Present the data you collected from before and after the change to show the impact your change had.
• Is this something you could continue to do? What would be the impact on the environment if you did continue to implement this change?

Requirements:

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As a manager, you have the following data collected by your data analyst regarding the price and quantity demanded:

Price of One Shirt (P)

Demand (D)

2300

152

2000

159

1700

164

1500

171

1300

176

1200

180

1000

189

Note that you are asked to use a graphing utility in this assignment. A recommended online utility is https://www.desmos.com/calculator (Links to an external site.). It allows graphing and then copying and posting into a Word document.

1. Using a graphing utility, draw a scatter diagram with price as a function of demand.
2. Using a graphing utility, build a logarithmic model from the data.
3. Graph the logarithmic function in the scatter diagram.
4. Use the function you found above to predict the number of quantities that will be demanded if the price is $1750. 5. Use the function you found in #2 to predict the price, if the quantity demanded is 174. Requirements: 1. Your paper should be 2-3 pages (not counting the title page and references page) and cite and integrate at least one credible outside source. The CSU Global Library (Links to an external site.) is a great place to find resources. Your textbook is a credible resource. 2. Include a title page, introduction, body, conclusion, and a reference page. 1. The introduction should describe or summarize the topic or problem. It might discuss the general applications of the topic or it might introduce the unique terminology associated with the topic. 2. The body of your paper should address the questions posed in the problem. Explain how you approached and answered the question or solved the problem, and, for each question, show all steps involved. Be sure this is in paragraph format, not numbered answers like a homework assignment. 3. The conclusion should summarize your thoughts about what you have determined from your analysis in completing the assignment. Nothing new should be introduced in the conclusion that was not previously discussed in the body paragraphs. Place this order or similar order and get an amazing discount. USE Discount code “GET20” for 20% discount Posted in Uncategorized Colorado State University Glo Learning Outcomes for this Module Reminder: 1. Analyze intercompany transfers and their elimination. 2. Develop equity-method consolidation entries for a variety of downstream and upstream inventory scenarios. 3. Evaluate concepts associated with intercompany transfers of services and noncurrent assets. 4. Calculate equity-method consolidation entries for a variety of downstream and upstream involving noncurrent asset scenarios. 5. Evaluate concepts associated with intercompany debt transfers. 6. Produce consolidation entries for a variety of intercompany indebtedness scenarios. In addition to the assignment in Connect, please answer the following questions and submit your answers in a Word document: W ith regards to your Assignment performed in Connect, and what you read and learned about in this module, answer the following questions. You should refer to the FASB Accounting Standards Codification (FASB ASC), specifically, when answering some of the questions below: Hydro Corporation needs to build a new production facility. Because it already had a relatively high debt ratio, the company decided to establish a joint venture with Rich Corner Bank. This arrangement permitted the joint venture to borrow$30 million for 20 years on a fixed-interest-rate basis at a rate nearly 2 percent less than Hydro would have paid if it had borrowed the money.  Rich Corner Bank purchased 100% of the joint venture’s equity for $200,000, and Hydro provided a guarantee of the debt of the bondholders and a guarantee to Rich Corner Bank that it would earn a 20% annual return on its investment. As a senior member of Hydro’s accounting staff, you have been asked to investigate the financial reporting standards associated with accounting for variable interest entities and determine whether Hydro’s reporting is appropriate. Prepare a memo to Hydro’s President stating your findings and conclusions and analyzing the impacts on Hydro’s financial statements if the current reporting procedures are inappropriate. Include citations to or quotations from the authoritative accounting literature including the ASC to support your findings and conclusions. Writing Assignment Requirements: • Write a paper of 2-3 pages double-spaced in length, not counting the title and the reference page(s) and any Exhibit(s) or Appendices. Submissions in excess of 3 pages are acceptable. • Use terms, evidence, and concepts from the Module interactive lecture and readings, including professional business language. • Cite at least 3 credible, academic or professional sources for this assignment. The CSU Global Library (Links to an external site.) is a great place to find resources plus the FASB Codification. • Format your paper according to CSU Global Writing Center (Links to an external site.) . • Start with the links under the Research Help and Writing Help tabs on the CSU Global Library’s (Links to an external site.) homepage if you need assistance with writing style. Place this order or similar order and get an amazing discount. USE Discount code “GET20” for 20% discount Posted in Uncategorized Colorado State University Glo Weather and Climate Part 1: Collecting Local Weather Data For the first part of this week’s lab, you will need to collect at least five consecutive days’ worth of local weather data. Using measurements from your homemade weather instruments, complete the table below. For those instruments you did not build, use data from a weather website such as weather.com or wunderground.com. Collect your data once each day, keeping as close to the same time of day as possible. For sky conditions, note the approximate percent of the sky that is overcast, and identify the cloud types present if you can. Here is a simple web guide to cloud identification. (Links to an external site.) Weather Station Data Date and Time High Temp. (ºF) Wind Speed (mi/h) Wind Direction Air Pressure (height of water column, in cm) Precip. (inches) Sky Conditions 1 2 3 4 5 6 7 Weather Station Data In a couple of well-crafted paragraphs, reflect on your results. What happened over the course of the week? What is the general story of the recent weather where you live? What patterns do you see in your data? For instance, one means of forecasting stormy weather is through monitoring changes in barometric pressure. What do you wonder about? Part 2: Local Impacts of Global Climate Change Imagine collecting more weather data—indeed, imagine gathering weather data for 2,190 times as long as you did. At that point, you would have 30 years’ worth of weather measurements, and only then could a picture of your local climate emerge. Climate is defined as the weather conditions for a particular region, averaged over 30 years. To detect change in climate due to global warming, then, much more than 30 years’ worth of weather data are necessary. Let’s consider the past 60 years where you live. For this analysis, go to this web page: https://www.ncdc.noaa.gov/cag/ (Links to an external site.) , click on the Time Series tab, and follow the steps below. (Note: In case of a government shutdown or other event that makes this site unavailable, contact your instructor for data sets.) 1. Let’s begin by comparing one month’s high temperatures over 60 years. From the drop-down menus, choose Maximum Temperature for Parameter. Leave the Time Scale as 1- month. Choose a month you would like to compare—as long as you keep the month specification the same, which month you select does not matter. For Start Year, select 1958. End Year should be 2018. Select your State and County from the drop-down menus. Click on the rectangle labeled “Plot”. A graph of the high temperature values for each year should appear. Take a screen shot of the graph to include with you report. (If you are not certain how to do this, check out this helpful resource 2. (Links to an external site.) 3. .) What trend do you notice in the overall trajectory of the graph, as you go from left to right? Is it going up, going down, or staying relatively level? 4. Next, compare the same month’s low temperatures over the same time range. Leave all of your selections the same, except change Parameter to Minimum Temperature. What does the plot reveal this time? Are low temperatures for your chosen month generally rising, falling, or staying the same in your county? Again, be sure to take a screen shot of the graph. 5. Finally, compare precipitation for the same month over the past 60 years. Leave all other selections the same except change Parameter to Precipitation. What does the plot show? Is precipitation rising where you live, dropping, or staying approximately the same? Be sure to take a screen shot of the graph for your report. Part Three: Global Climate Change Finally, view the animation at http://apod.nasa.gov/apod/ap130731.html (Links to an external site.) . (Note: In case of a government shut down or other event that makes this site unavailable, contact your instructor for data sets.) Assess the differences from 1884 to 2011. What particular regions of the Earth have changed the most over that time, and how have they changed? Why might those regions be particularly sensitive to climate change? (This question may require some research in the text or using a credible online resource.) Place this order or similar order and get an amazing discount. USE Discount code “GET20” for 20% discount Posted in Uncategorized Colorado State University Glo Learning Outcomes for this Module Reminder: 1. Construct journal entries and consolidation procedures when acquisitions exceed book value. 2. Formulate journal entries under various complex differential scenarios for consolidations of a wholly owned subsidiary. 3. Assess push-down accounting. 4. Create consolidation entries for partially owned subsidiaries under various scenarios. 5. Differentiate what happens when a parent company ceases to consolidate a subsidiary. In addition to the Assignment in Connect, please answer the following questions and submit your answers in a Word document: W ith regards to your Assignment performed in Connect, and what you read and learned about in this module, answer the following questions. You should refer to the FASB Accounting Standards Codification (FASB ASC), specifically, when answering some of the questions below: Rose Corporation and Krome Company established a joint venture to manufacture components for both companies on January 1, 20X1, and have operated it quite successfully for the past four years. Rose and Krome both contributed 50% of the equity when the joint venture was created. Rose purchases approximately 70% of the output of the joint venture and Krome purchases 30%. Rose and Krome have equal numbers of members on the board of directors of the joint venture and participate equally in the management of the joint venture. Joint venture profits are distributed at year-end on the basis of total purchases by each company. 1. Rose has been using the equity method to report its investment in the joint venture. However, Rose’s financial vice president believes that each company should use pro-rata consolidation. As the controller, you have been asked to prepare a memo discussing those situations in which pro-rata consolidation may be appropriate and to offer your recommendation as to whether Rose should continue to use the equity method or switch to pro-rata consolidation. Include in your memo citations of and quotations from the ASC to support your arguments. Writing Assignment Requirements: • Write a paper of 2-3 pages double-spaced in length, not counting the title and the reference page(s) and any Exhibit(s) or Appendices. Submissions in excess of 3 pages are acceptable. • Use terms, evidence, and concepts from the Module interactive lecture and readings, including professional business language. • Cite at least 3 credible, academic or professional sources for this assignment. The CSU Global Library (Links to an external site.) is a great place to find resources plus the FASB Codification. • Format your paper according to CSU Global Writing Center (Links to an external site.) . • Start with the links under the Research Help and Writing Help tabs on the CSU Global Library’s (Links to an external site.)homepage if you need assistance with writing style. Place this order or similar order and get an amazing discount. USE Discount code “GET20” for 20% discount Posted in Uncategorized Colorado State University Glo Porter Gale Corporation is a publicly traded company. You are completing an audit at their headquarters and will conduct a study of controls over revenue recognition using attributes sampling. You will use the results as part of the evidence on which to base your opinion on internal controls and to determine what substantive auditing procedures you should perform on revenue and accounts receivable. Your study of controls involves the following: • Set the risk of overreliance at 5% • Tolerable deviation rate at 5% • Expected deviation rate at 1% You plan to use a sample size of 100. (Note that this sample size is just rounded up from the sample size of 93 that would have been obtained from the appropriate table). The results of your testing are as shown: ControlResults 1. All sales over$10,000 must be approved by the sales manager by initialing the customer’s order.

1. There were only twenty-five sales over $10,000 in the sample. So, the auditor randomly collects an additional seventy-five sales transactions that were over$10,000. All were approved by the sales manager.

2. Credit must be approved by the credit department prior to shipment and noted on the customer’s order.

2. Three sales were recorded without evidence of credit approval. The sales manager said she had approved the sales. No customer order could be found for three of the other sampled items.

3. Sales are recorded only when a shipping document is forwarded to the billing department.

3. No shipping document could be found for four of the sampled items.

4. The date of recording the sale must correspond to the date on the shipping document.

4. Five sales were recorded prior to the date of shipment. Your follow-up indicates that a temporary employee worked for the last two months of the fiscal year and was unaware of this requirement.

5. All prices are obtained from the current price list that is periodically updated by the sales manager.

5. All prices agreed with the appropriate price list.

6. The shipping department is not to ship products without first receiving an approved customer’s order.

6. No customer order could be found for two sample items as indicated in Step 2

7. The billing department compares the quantity billed with the customer’s order.

7. Five billed quantities were for more than the customer order. Four of these took place near year-end. In addition, there was no customer order for the three items indicated in Step 2.

Required:Provide a written analysis of your audit and include a response for each question below:

1. Determine the upper limit of deviation for each of the controls.
2. What impact do these results have on the type of opinion that you will give on the client’s internal controls?
3. Indicate the potential misstatements that could result from the control deviations.
4. Determine what substantive audit procedures should be performed in response to each of the identified control deviations.
5. Do you feel confident that the sample you selected provides a good assessment of internal controls? Why or why not?

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Find a recent (within the last two calendar or the last two fiscal year ends, depending upon the respective financial year end of your chosen company) Annual Report from a publicly-listed company of your choice and personal interest that mentions that the firm has been affected by foreign currency translation, either in the reported earnings (firms generally will always mention any significant favorable or unfavorable impact of changes in exchange rates on their most recent reported earnings in the Business Section of their Annual Reports) or some other important aspect of the firm’s recent business performance.

Generally, you can find the Annual Report in the Investor Relations portion of the company’s website.

Include in your posting as an attachment a copy of the Annual Report which you chose to use for this Discussion.

Then, describe in your own words what must have occurred regarding the impact of foreign currency translation only (note: not foreign currency transactions) on your chosen company’s income statement and balance sheet during the period you are analyzing by answering the following questions:

1. Overall, did the US dollar strengthen or weaken during the reporting period(s) for your chosen company? How did the change in the value of the US dollar impact reported revenues and profits for your chosen company?
2. How did the change in the value of the US dollar impact the Accumulated Translation Adjustments account included in the Statement of (Other) Comprehensive Income and therefore Stockholders’ Equity during the reporting period?
3. Did your chosen firm have any reported foreign exchange translation gains or losses during the reporting period? If they did, what does that mean with regards to the movement(s) of foreign exchange currency rates during the respective reporting period?
4. Are there any other important or unusual items on the Income Statement or the Statement of (Other) Comprehensive Income for the reporting period related to foreign currency translation? If so, what do they mean in plain English?

Cut and paste into your initial response what the company disclosed about the impact of foreign currency translation on the company’s results as you answer the above questions. Also, in your initial response, show any Accumulated Translation Adjustments included in the Stockholders’ Equity section of the most recent balance sheet or on the Statement of (Other) Comprehensive Income.

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As a manager, you have the following data collected by your data analyst regarding the price and quantity demanded:

Price of One Shirt (P)

Demand (D)

2300

152

2000

159

1700

164

1500

171

1300

176

1200

180

1000

189

Note that you are asked to use a graphing utility in this assignment. A recommended online utility is https://www.desmos.com/calculator (Links to an external site.). It allows graphing and then copying and posting into a Word document.

1. Using a graphing utility, draw a scatter diagram with price as a function of demand.
2. Using a graphing utility, build a logarithmic model from the data.
3. Graph the logarithmic function in the scatter diagram.
4. Use the function you found above to predict the number of quantities that will be demanded if the price is \$1750.
5. Use the function you found in #2 to predict the price, if the quantity demanded is 174.

Requirements:

1. Your paper should be 2-3 pages (not counting the title page and references page) and cite and integrate at least one credible outside source. The CSU Global Library (Links to an external site.) is a great place to find resources. Your textbook is a credible resource.
2. Include a title page, introduction, body, conclusion, and a reference page.
1. The introduction should describe or summarize the topic or problem. It might discuss the general applications of the topic or it might introduce the unique terminology associated with the topic.
2. The body of your paper should address the questions posed in the problem. Explain how you approached and answered the question or solved the problem, and, for each question, show all steps involved. Be sure this is in paragraph format, not numbered answers like a homework assignment.
3. The conclusion should summarize your thoughts about what you have determined from your analysis in completing the assignment. Nothing new should be introduced in the conclusion that was not previously discussed in the body paragraphs.
3. Include any tables of data or calculations, calculated values, and/or graphs referenced in the paper. (Note: The minimum required length excludes any tables, graphs, etc.)

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Reference the Excel file containing financial information from footnote disclosures and substantive analytical procedures using data analytics from your instructor.

PharmaCorp will be used as the main analytical procedure tasks you will want to focus on for this assignment. The other companies, Novartell and AstraZoro, will be used as industry comparisons.

The opportunity exists in this case to perform planning and substantive analytical procedures for accounts in the revenue cycle. You may assume that the 2015 financial information is unaudited, but the information from 2014 has been audited. Consider the following trends and characteristics of the pharmaceutical industry and for PharmaCorp in particular as you work on this case:

• Following many years of dominant financial performance by companies in the United States, Europe and Canada, increased competition is arising from organizations in emerging economies such as Brazil, India, and China.
• Significant uncertainty exists in the industry due to regulation covering health-care and government reimbursements related to certain procedures and prescribed pharmaceuticals.
• Policy makers in the industry and governments increasingly:
• Mandate necessary prescripts for patients
• Focus on prevention instead of treatment regimes, thereby leading to changes in demand for some products
• Anticipated growth in the industry is expected to be 5% to 7% in 2016 compared with 4% to 5% in the prior year as stated by leading industry analysts.
• Pharmacorp started and executed a significant cost reduction initiative aimed at improving efficiency, reducing research and development costs, and eliminating corporate overhead in 2014.
• PharmaCorp’s credit policies has remained the same over the past several years. Their credit policies are considered stringent in their industry, and they have been criticized on occasion for these policies in relation to their competitors.
• Two of the companies most popular pharmaceuticals, Sistosis and Vigarvox, are no longer patented as of the last quarter of 2015 and are now facing competition from generic alternatives.

Required:

Part I: Planning Analytical Procedures

• Step 1: Identify Proper Analytical Procedures. The senior auditor suggests you should use these ratios (on the financial statement level) for planning the analytical procedures as part of the revenue cycle at the company:
1. Gross margin: (revenues-cost of sales)/revenues
2. Turnover of receivables: (revenues/average accounts receivable); use the ending accounts receivable
3. Receivables as a percentage of current assets: (accounts receivable/total current assets)
4. Receivables as a percentage of total assets: (accounts receivable/total assets)
5. Allowance for uncollectible accounts as a percentage of accounts receivable: (allowance/accounts receivable)
6. Identify other relationships or trends that are relevant as part of the planning analytics. Discuss your reasons for your choices.
• Step 2: Evaluate the Data Reliability When Developing Expectations. The data you will use to develop expectations in the revenue cycle has been deemed reliable by the audit staff.
1. Discuss the likely factors the audit team will consider when making this determination.
• Step 3: Develop expectations for accounts in the revenue cycle and for the ratios from Step # 1 that you deem as relevant. Since this is a planning analytical procedure, the expectations are not set at a high a high level of precision. Indicate if you expect a ratio to rise, fall, or remain the same, and explain the level of any anticipated rises or falls, or the range of the ratio. Pharma Corp’s financial information is in the first tab of the Excel worksheet, while the information for Novartell and AstraZoro is available in the last two tabs of the file.
1. Consider both historical trends of Pharmcorp and the industry on the whole.
• Step 4 and Step 5: Define and Identify Substantial Unanticipated Variances. Refer to the text for guidance on materiality.
1. Apply those guidelines to Step 4 of planning the analytical procedures as part of the revenue cycle for Pharmacorp. Define the meaning of a significant difference. Discuss your reasons for these choices. Discuss the qualitative materiality considerations in relation to this case.
2. Once you have determined the levels of difference you would consider noteworthy, calculate the Step 1 ratios (and any additional trend or ration analysis you deemed necessary), based on Pharmacorp’s financial statement figures. Identify the ratios where you expect a significant difference.
• Step 6 and Step 7: Investigate Substantial Unanticipated Variances and Ensure Appropriate Documentation.
1. Discuss the accounts or relationships you feel should be investigated further using substantive audit procedures. Discuss your reasons for these choices.
2. Describe the information that should be a part of the auditor’s report or files.

Part II: Substantive Analytical Procedures

• You will see three tabs in the Excel file that should be reviewed: the Pharmacorp Segment Information, Pharmacorp’s Geographic Information, and Pharmacorp’s Other Revenue Information. These tabs display excerpts from Pharma Corp’s footnote disclosures regarding segment, geographic, and other revenue information. Examine these disclosures and discuss the operating segments and geographic regions where the company does business.
• Which operating segments generate the most revenue for the company and may be considered the most important? Which regions are the most important to the organization from geographic standpoint? List the three most important products manufactured by Pharmacorp? Discuss any trends you notice in relation to revenue generation for each of these different categories.
• Explain the different types of ratio analysis that could be conducted in substantive analytical procedures using the data from the segment, geographic, and other revenue information. An example would be the RD expenses as a percentage of revenues. How would these substantive analytics be different from the planning analytics? Discuss the trends and relationships that are relevant, and what are the implications in relation to further substantive testing?

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