BUSINESS CYCLES Trend and cycle of the business cycle Phases of the cycle Pro‐cyclical‚ counter‐cyclical‚ and a‐cyclical variables Lead‚ lagged‚ and contemporary variables Stylized facts and cyclical behavior of key macroeconomic variables 2 BUSINESS CYCLES Over time GDP grows but not in a linear way GDP 2006 constant prices (in logs) 6.5 6.3 6.1 5.9 5.7 5.5 5.3 5.1 4.9 4.7 4.5 3 BUSINESS CYCLES Time Series Components 1. 2. 3. 4. Trend (long‐run) Cycle (short‐run)
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INTRODUCTION This case presents the actual family-business dilemma and identities have been changed to protect family privacy. The author’s opinions do not necessarily reflect the views of the Malaysian Institute of Accountants and this case was written for academic purpose only and the author disclaims any legal responsibilities. This report will be discussed more details about the issues that arise in the company. Those issues are about the leadership‚ management and also
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objectives of the firm. ANS: T PTS: 1 2. The Systems Development Life Cycle (SDLC) concept applies to specific applications and not to strategic systems planning. ANS: F PTS: 1 3. An accountant’s responsibility in the SDLC is to ensure that the system applies proper accounting conventions and rules and possesses adequate control. ANS: T PTS: 1 4. In the conceptual design phase of the Systems Development Life Cycle (SDLC)‚ task force members are focused on selecting the new system design
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AUDIT FAILURE OF WORLDCOM Group 1 Background • WorldCom‚ first named LDDS (Long Distance Discount Services)‚ grew largely by aggressively acquiring other telecommunications companies in 1990s. • For a time‚ it was the United State’s second largest long distance phone company (after AT&T). Background However‚ the year 2002 comes… • In March‚ the SEC began to investigate WorldCom as it reported large profit while AT&T reported loss. • In May‚ Arthur Anderson was replaced by KPMG
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Audit Plan- GlaxoSmithKline (GSK) Key business and audit risk: In order to make the report more efficient we must identify the key areas of business risk and auditing risk. Business risk can be defined as the risk‚ which could affect an organization’s ability to achieve its objectives (Gray and Manson‚ 2007). Audit risk is defined as the risk that the auditor gives an inappropriate audit opinion when the financial statements are materially misstated (Soltani‚ 2007). In Gray and Manson (2007)’s
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a man on the moon--hence‚ the Apollo Program. These Apollo Missions are significant in that America received technical credibility and hasted the end of the Cold War in our favor. Also‚ Carole Stott‚ a long-time astronomer
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characteristics for each of them. Wet Shoes - A baby born to a young couple. She is unable to speak except to the reflection that she sees in The River. Loyal to the one who protects her from the cruelty of the outside world. A person who can keep a secret. The River - The one thing or person that can bring Wet Shoes to talk. WhetherThe River is human or a sprit living within the water‚ he protects her until he is no longer needed. We don’t know who or what The River is‚ only Wet Shoes knows his secret
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Application Of Lean Manufacturing Tools In Garments Production By Md. Abu Hayen Peash ID: 081-23-757 This Report Presented in Partial Fulfillment of the Requirements for the Degree of Bachelor of Science in Textile Engineering Supervised By Engr. Md. Mahfuzur Rahman Senior Lecturer Department of Textile Engineering Daffodil International University DAFFODIL INTERNATIONAL UNIVERSITY DHAKA‚ BANGLADES JANUARY‚ 2012 ©Daffodil International University DECLARATION I hereby
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Communication Conflict in the Workplace’‚ there are four basic types of conflicts. They are 1. Disagreements‚ 2. Misplaced conflicts‚ 3. Nonsubstantive conflicts‚ 4. Substantive conflicts. Disagreements: A disagreement is a mild conflict and usually involves issues that are not necessarily related to the relationship. In the movie ’Apollo 13’ this situation of disagreement occurs two days before the launch. When the flight surgeon Dr.Chuck predicts that Ken Mattingly (one of the three members of
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management of related parties that engage with the client and the effect of the transaction that they made which are materials to financial statement. It mean as an auditor‚ they have to be more aware about the related party when go through the auditing procedure even if the auditor has no reason to suspect that related party transaction. Moreover‚ it is important to recognize the related party transactions that may give high risk misstatement. An auditor have to discussed with the engagement team regarding
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