Engagement Letter Essay

The memo verifies the agreement of the purpose of the difference of opinion and the quality and constraints of the service the solid offers. Talbot Auditing Firm will review the financial statements of Apollo Shoes at the intercept of the year. Talbot analyzeing firm will review the accounts such as the operations records, retained earnings, and cash flow accounts. An audits goal is to form an opinion more or less the fairness of the accounting records in accordance with generally Accepted Accounting Principles. The audit will be performed according to auditing standards generally accepted in the coupled States. The firm will perform tests of the accounting records and other procedures essential in stating an opinion. If the opinion is non unqualified, the firm will give reasons. If the firm cannot complete the audit, they might not give out a taradiddle on the engagement.The firm will test the existence of inventory, and confirm receivables and payables and other assets and liabilities by letters to a few customers, creditors, and financial institutions. The auditor will ask for a letter of representation from the companys attorney. The attorney might bill Apollo Shoes for replying to the query. When the firm concludes the audit, the firm may ask for written statements about the financial statements and other issues. The auditor will carry out the audit to know if the records are set free of solid misstatement. The auditors intention is to give reasonable, not absolute assurance.The auditor will not provide a thorough assessment of each transaction so a risk of material errors, fraud, and illegal acts might exist and go unnoticed by the auditor. The firm may terminate the services for nonpayment and consider the engagement completed upon a written request of termination even though the auditor fails to complete a report. Apollo Shoes will pay for extended time and out-of-pocket constitute through date of termination. If you agree to the above condi tions of this engagement, sign the letter at the bottom. Please return the write letter and keep a copy for company records. Thank you for your prompt attention to this matter. Do not hesitate to contact me if you have questions.

“Ocean Carriers” Case Essay

relieve that marine Carriers uses a 9% discount rate.1) Do you necessitate periodical espy admit rates to development or decrease next year? (5 points)2) What factors point daily call for rates? (5 points)3) How would you characterize the long-run prospects of the capesize dry bulk industry? (10 points)4) Should Ms Linn bargain for the $39M capsize? Make 2 different assumptions. First, assume that Ocean Carriers is a US firm battleground to 35% revenueation. Second, assume that Ocean Carriers is located in Hong Kong, where owners of Hong Kong ships are non required to pay whatsoever tax on profits made oerseas and are also exempted from paying either(prenominal) tax on profit made on cargo uplifted from Hong Kong. (75 points)5) What do you think of the companys constitution of not operating ships over 15 years obsolete? (5 points)Solutions1) Daily spot pack rates should be unconquerable by communicate and choose. Supply The trope of ships available equaled th e number of watercrafts in service the previous year plus any new ships delivered minus any scrappings and sinkings. Demand The ingest for dry bulk capesizes was determined by the world economy, e additionally its basic industries.As shown in expose 5, since over 85% of the cargo carried by capesizes was campaign ore and coal, the amount of iron ore vessel shipments approximately reflects the take away for dry bulk capesizes. The amount of fall out size reflects the supply of capesizes.As shown in show up 3, the number of new ships delivered in 2001 is 63. Since there had been very few scrappings in recent years, and most of the capacity of the oecumenical fleet of capesizes was fairly young, we dismiss assume that the change of fleet size during 2001 mainly comes from these new ships.Similarly, we git expect the fleet size in 2002 will be 612+(612-552)*(33/63) 643From Exhibit 6, according to the forecast of the consulting group, iron ore vessel shipments will be 445 milli ons of tons in 2002. We can compute the contractth rates of supply and demand in 2002.We can see from the table above that the supply will grow smart than the demand, so I expect daily spot hire rate to decrease next year. This can also be explained according to the Linns analysis. With Australian business in iron ore expected to be strong and Indian iron ore exports expected to take finish in the next few years, Linn took an approbative view of the long-term market demand for capesizes. However, she also considered that imports of iron ore and coal would probably remain moribund over the next two years while supply increases. We can reasonably anticipate that spot rates would fall in 2001 and 2002.2) As mentioned in 1), daily spot hire rates are determined by supply and demand. Demand As illustrated in the case, the demand for dry bulk capesizes was determined by the world economy, especially its basic industries. Over 85% of the cargo carried by capesizes was iron ore and co al. culmination product and demand for these products increased in a strong economy. Changes in trade patterns also affected the demand for capesizes. Supply The number of ships available equaled the number of vessels in service the previous year plus any new ships delivered minus any scrappings and sinkings.Ocean carriers decided to deliver new ships or scrap old ships mainly based on the demand. Supply was also affected by the increases in size and expertness the newer ships offered. Moreover, ages of ships affected the companys scrap decisions and older ships receiver lower daily hire rates. In summary, the world economy, changes in trade patterns, the increases in size and efficiency of new ships (technology) and ages ofships drive daily hire rates.3) As illustrated in the case, with Australian production in iron ore expected to be strong and Indian iron ore exports expected to take off in the next few years, Linn took an optimistic view of the long-term market demand for cap esizes. Linn expected that Australian and Indian ore exports would begin in 2003, and that new supplies would significantly increase trading volumes. Demand for capesizes would likely increase with these higher trading volumes, possibly boosting prices.From the table above, we can commence that worldwide iron ore vessel shipments and charter rates had been very strongly associated historically. Iron ore vessel shipments and daily hire rate changed in the corresponding direction. Moreover, 3-yr charter rates changed much more than iron ore vessel shipments, while spot rates decenniumded to fluctuate more widely than 3-yr charter rates. As mentioned above, Australian production in iron ore expected to be strong and Indian iron ore exports expected to take off in the next few years. I expect worldwide iron ore vessel shipments to increase stably in the long run, which would have a positive effect on daily hire rates.In terms of supply, the number of ships available equaled the numbe r of vessels in service the previous year plus any new ships delivered minus any scrappings and sinkings. As shown in Exhibit 2, most of the capacity of the worldwide fleet of capesizes was fairly young, there would be very few scrappings in next years. As shown in Exhibit 3, numbers of new ships delivered experienced a downward trend, which means the supply wouldincrease more late in the long run. As a result, daily hire rates would be expected to pass over in the long run. I take an optimistic view of the long-term prospects of the capesize dry bulk industry.4) check to the information in the case, we can get the following tableOperating years Initially, 8 days a year were scheduled for maintenance and repairs. The time allotted to maintenance and repairs increased to 12 days per year after five years of operation, and to 16 days a year for ships older than ten years. Daily operating costs For a new ship coming on line in early 2003, operating costs were expected to initially average $4,000 per day, and to increase annually at a rate of 1% above inflation. The expected rate of inflation was 3%. Expenditures for special surveys Capital expenditures pass judgment in preparation for the special surveys would each be depreciated on a straight-line basis over a 5-year period. Depreciation The ship would cost $39 million, and the value would be depreciated on a straight-line basis over 25 years.Moreover, the ship would cost $39 million, with 10% of the purchase price payable immediately and 10% due in a years time. The balance would be due on delivery. In addition, Linn expected to make a $500,000 initial investment in net working capital, which she anticipated would grow with inflation. Capital expenditures for special surveys would occur in 2007 and 2012. The company estimated the scrap value to be $5M at the end of the fifteenth year. We have to consider tax loss when the ship is sold since the ship has a oblige value of 15,600,000. Tax loss =(15,600,000 -5,000,000)*35%=3,710,000. We can calculate total cash flows as followsAssume that Ocean Carriers uses a 9% discount rate, NPV is negative. So Ms Linn should not purchase the $39M capsize.b) Assume Ocean Carriers is located in Hong Kong, we can calculate total cash flows as followsAssume that Ocean Carriers uses a 9% discount rate, NPV is positive. So Ms Linn should purchase the $39M capsize.5) I think it is a good policy to sell the vessel into the secondhand market, or scrap the vessel just before the third special survey. By carrying out this policy, the company could avoid heavy capital expenditures of the third, fourth and fifth surveys. At the same time, the company could benefit from the scrap value of $5M. In addition, the company could charge higher daily hire rates because vessels are comparatively younger. So I think the companys policy of not operating ships over 15 years old is good.

Traditional and contemporary buildings Research Paper

Traditional and contemporary mental synthesiss - Research Paper Example bastards basilica. This paper seeks to compare and contrast the twain buildings looking at joints, connections and member sizes. Bespoke public figure against Woodhouse Barn Homes The braid of Tamedia office building used metallic screws to join pieces of wood. These metallic screws come in various sizes depending, on the joint to be connected. This method of joining pieces of wood has been hailed for providing strength to the building. The building hosts all over 480 employees. The overaged St. Peters Basilica re master(prenominal)s one of the intimately significant buildings of the renaissance. The building became a Centre for religious activities considering its strategic location (Bolgia et al, 2011). The building got constructed by Donato Bramante and Carlo Maderno. During its construction, strength and stiffness models got developed with a view to creating methods that will later be used by engineers in construction. Mortice and tenon geometry could be select from a reference face. Joints could be then made by use of sticking glue. This made most of the buildings constructed to lack durability as they glue would become weak with time. Construction of St. Peters Basilica further used test failures, which could be employed as an approach of examining the strength and stiffness of the proposed building. The rosin got used to freeze connections. The church got constructed in such a way that it could hold up to 3000 worshippers at any time. One outstanding difference between the two buildings is the main objective of each of the buildings. The main objective of the old St. Peters basilica can be seen to have been durability and capacity. The building could hold a large number of worshippers and had structures that guaranteed its durability. The construction of the Tamedia office building, on the other(a) hand, had an objective of ensuring that art object the building remained st rong in the long run, the building retains the aspect of modernity and class. The building possesses a Japanese craftsmanship. The glazed volume of the building gets topped by a mansard roof. Another aspect that differentiates the two buildings is the wood used to construct each of the buildings. The old St. Peter used hardwood timber in its construction (Bolgia et al, 2011). Hardwood was the common timber as compared to peck. Traditional preservatives could be added to the timber to ensure the durability of the building. The Tameda building, on the other hand, used softwood that could be purposely grown for building construction. One advantage that came with the use of softwood is its flexibility. Unlike hardwood, softwood could be used to make varying construction models. Contrary to most buildings of the renaissance, the old St. Peter, applied was a daring construction that favored extra-thick walls. This was unlike the basic concepts of engineering. Windows in the outer percen tage of the aisles filtered light into the building although the main source of lighting to in the building came from the nave clerestory (Sobocinski et al, 2005). A descend of eleven windows could be aligned with a pattern of interchanging intercolumniation. The construction of the ceiling and the roof, however, still remains unclear. some(prenominal) texts have been found that seek to explain how the roof and the ceiling got constructed. One term used by most of these texts is lacunars which get used to refer to a coffered ceiling. The Tamedia building, on the

Advantages and Disadvantages of using Open Source Software Research Paper

Advantages and Disadvantages of using Open arising Softw atomic number 18 - Research Paper ExampleWhy prefer Open rootage software everyplace proprietary software? In this text it is attempted to highlight the preference given to broadcast source software for third world countries. As quoted by Nikesh Jauhari, besides having sailing prices the opposite key edges that are absent if a proprietary software is purchased are that the errors in it cannot be edited by anyone other than the developer, sassy features cannot be added to the software and the software cannot be scrutinized. This, however, is not the type with open source software. troika world countries are developing nations. Their per capita income is far lesser than that of the developed nations. The basic commodities that submit all the income of a person earning his livelihood in third world countries is on the basic ask like food and shelter. In order for persons to learn with technological advancements and exc el in learning it is haughty that the newly invented advance(a) technological for them at very titular costs. Open source software plays a key situation in assisting individuals in third world countries as it is AVAILABLE WITHOUT ANY COST. Moreover, organizations potbelly MODIFY unmortgaged SOURCE SOFTWARE in accordance with their modular requirements. Thus instead of purchasing a new proprietary software for each individual module open software serves the purpose with very nominal or no cost at all. This results in an over all increase in the proliferation of the sparing of a country as a whole. The emerging aptitude of individuals and organizations towards open source software is all the way evident among those living in the third countries. Fredrick Noronha quotes in his article as follows GNU/Linux, and tons of utilizable software that comes along with it, is clearly attracting interest from a range of quarters. From... As quoted by Nikesh Jauhari, besides having soarin g prices the other key edges that are absent if a proprietary software is purchased are that the errors in it cannot be edited by anyone other than the developer, new features cannot be added to the software and the software cannot be scrutinized. This, however, is not the case with open source software.Third world countries are developing nations. Their per capita income is far lesser than that of the developed nations. The basic commodities that consume all the income of a person earning his livelihood in third world countries is on the basic needs like food and shelter. In order for persons to learn with technological advancements and excel in learning it is imperative that the newly invented advanced technological for them at very nominal costs. Open source software plays a key role in assisting individuals in third world countries as it is AVAILABLE WITHOUT ANY COST. Moreover, organizations CAN MODIFY OPEN SOURCE SOFTWARE in accordance with their modular requirements. The emerg ing aptitude of individuals and organizations towards open source software is clearly evident among those living in the third countries. Fredrick Noronha quotes in his article as follows GNU/Linux, and tons of useful software that comes along with it, is clearly attracting interest from a range of quarters. From Pakistan to the UNDP, from Africa to Malaysia, and eve in the Philippines or Thailand and Nepal, GNU/Linux is being closely watched.

Research Methods Essay Example | Topics and Well Written Essays - 1500 words

look into Methods - Essay ExampleTo increase the potency of seek, it may be inspection and repairful to implement multiple investigate modes that are divided on soft and quantitative. However, each search method has its own positive and negative sides, some of which will be mentioned in the current paper. A bright example of pragmatic approach will be analyzed to show the role and effectiveness of specific research methods. Introduction Each science is based on the facts that can be veritable with the abet of relevant and complete streams of information. All spheres of gracious life, including economical, political, technological, educational and social aspects, never stop progressing. However, to cope with valid results and make germane conclusions, researchers require using specific research methods that can be characterized with a great abundance (McNeill & Chapman 2005). It is fair to state that each research approach has its pros and cons that is why for every resear ch problem, the choice of the best methods should be made with special seriousness otherwise incorrect and irrelevant research techniques may bring the study to invalid and erroneous findings (Freeman, Robinson & Woodley 2004). Research philosophy In its widest meaning, the word method can be interpreted as a way to something and represents more an artificial than existed in personality the system of rules and operations (Kothari 2006). Basically, research methods are implemented to gather the full data base with the help of which a researcher is able to make appropriate conclusions and elaborate further recommendations on how to benefit from well-fixed consequences or eliminate the negative influence. According to Walliman (2011, p. 7), research methods are all about advancing the frontiers of association. The usage of various research methods for one study increases the accuracy of the findings and helps to view the problem from the different aspects. Research approach The brig ht example of research combination is the study of Luthans and Sommer, who based their results on both qualitative and quantitative methods. The article emphasizes how seriously the market conditions have been changed compared to previous periods of intersectionion relationships. Hence, the favorable results of each associations performance are influenced by managements policy aimed at the improvement of product characteristics, raise of product quality, decrease of total costs, increase of productivity and superiority over competitors (Luthans & Sommer 2005). It is important to influence the target consumers that offered brand is better than the rest of analogues and it is considered that such scheme can be achieved only with the help of strong knowledge base of the companys personnel, effective training programs, professional skills of senior managers and pleasing motivational factors. The study provides extensive demonstration on how relevant management of human resources corr elates with companys financial results. The main purpose of the mentioned research is to represent proofs regarding the significant impact of the efficacious system of human resource management on the favorable performance of an organization. The further objective of the study is

Our Parents Affect Us Essay Example | Topics and Well Written Essays - 1250 words

Our Parents Affect Us - Essay ExampleHis auntyie who was a devout Christian raised Hughes she encouraged him to at pitch church proceedings so that he could be saved. Hughes narrates how his aunt told him that extraordinary things would occur in his life after he gets saved. He attends the revival church service where his aunt Reed worshipped so that he could experience the unusual feeling. Prior to the service, his aunt had advised him that he would experience something on the inside and he would see the light Hughes was anxious about experiencing the everlasting light of Jesus Christ (Yagelski, Amy & Robert 224). He attended the church service with the expectation of eyesight the light physic tout ensembley. However, this does non take place because he was waiting for Jesus to appear and encourage him to unify the rest of the children on the altar. He is forced to join the rest of the children on the altar out of catch pressure. Deep d own he thought salvation was something physical not an inside feeling. He pretends to fork over experienced salvation to please his aunt. The partake of the lyric of our parents can be massive. Parents are the adults children look up to. Therefore, anything they tell their children is assumed to be true. Even when the words or stories told present some gaps the children perceive the words of the adults as something not to be questioned. Hughes believed the words of his aunt and when the anticipated feeling did not occur he was afraid to question his aunt and opted to lie. Hughes experience in salvation is similar to many other experiences of children. Children tend to comprehend the words told by our parents plainly. They believe that something will happen for real and not through imagination. Parents do not know the children fathom things that way therefore, they keep on telling them fantasy stories that they understand as being true. Most of the time, the words of our parents influence our decision-making. Even thou gh children do not comprehend all that their parents say when they are young. They pretend to understand so that they may not disappoint their parents. This is why Hughes imitation to be saved - he wanted to make his aunt happy. Maxine Hong capital of Jamaica is another victim of the impact of parents in No Name Woman. The stories told by our parents are meant to nurture our growth and ensure we have a bun in the oven properly (Yagelski, Amy & Robert 87). Parents fail to understand the fantasy developed by children because of the story or narration. For instance, Kingston is a young Chinese woman approaching adolescence the mother is afraid of the impact of adolescence that may befall Kingston. Kingstons mother tells her a story to frighten her and ensure she respects traditional morals and ethics, yet many things go through the daughters mind she tries to imagine the possible ways that her aunts misfortune happened. Kingston develops an imagination of what might have happened to her aunt. She kept on wondering what direct to the suicidal decision of her aunt. Children have the tendency of developing similar fantasies from the stories told by parents. They tend to fill the gaps not answered by parents. The imaginations are developed because the stories told by parents are not fully imaginative therefore, the children develop their own fantasy world to fill the gaps. The imaginations can go as far as Kingstons imaginations. She keeps on wondering if her aunt was miserable because of the

DragonflyHelm Assignment Example | Topics and Well Written Essays - 750 words

DragonflyHelm - Assignment Examples steady of the samurais who were wealthy, the armor they used was tailor- do to their specifications while utilizing a variety of materials that ranged from various forms of metal, silk, whip and lacquer. The iconic detonate as far as Japanese armor is concerned is the head protection that is comprised of fierce-looking facemasks and stagy helmets that be intended to underscore the superhuman image of power of the person who wears it.In Japanese culture, the old mans beard is interpreted to symbolize martial success as a consequence of the similarity of the term victory to dragonfly in the Japanese language. The dragonfly is a periodic representation that is linked to the late summer done to the early summer season. In general, in Japan, the dragonfly is a representation of strength and happiness as well as courage while regularly appearing in arts and literature, especially haiku (Mitchell and Lasswell 30). Additionally, in ancient mythology , Japan was referred to as Akitsushima that means Land of the Dragonflies. In creating the symbolism with the dragonfly, its back wings are comparatively larger than its front ones and this signifies that times will get better in the future. The nymph, which is the larval stop of the dragonfly feeds on mosquitoes, and this is considered as they action of the young people in the society stopping mephistophelean even before the evil begins. Additionally, the dragonfly stops utilizing gills and begins breathing normal air as presently as it gets into contact with it, and this represents quick adaptation to harsh conditions.The Kabuto helmet that is shaped standardized a dragonfly was made in the seventeenth century in Japan using various material including lacquer, silk, Iron, wood and leather as well as pigments and papier-mch. Even though the artifact is famous as far as Japanese culture is concerned its artist is not known. High-ranking members of the Japanese society utilized e mbellishments like this so that they could be located