In this thesis I focus on the audit of financial statements from the perspective of the auditor. The first part contains the definition of basic theoretical concepts in this area and a description of audit procedures. This knowledge is used in the practical part for audit verification of operations with fixed assets in a particular entity. According to the findings I draw conclusions and proposals for solutions of deficiencies.

This master thesis focuses on the issue of tangible fixed assets management in the company HP spol. s r.o. which manufactures plastic bags and various technical parts. This thesis is based on the current state of the company and with attention to key areas such as care of the tangible fixed assets, organization and operation maintenance. The aim of the company analysis is to identify weaknesses and their resulting opportunities. In the next section are presented solutions to problems which were identified by analysis. Economic evaluation of the proposals with their benefits and timetable is carried out in conclusion of the thesis.

The purpose of this thesis is to investigate how fixed broadband will be used in Swedish households in a 3-6-year perspective. Internet is becoming more and more integrated in peoples everyday lives. Internet is utilized for communication, entertainment and businesses to mention a few, and the areas of use are continuously expanding. How this expansion might affect the household usage patterns and what these possible changes will require from a fixed broadband connection are continuous questions in need of investigation to ensure that ISPs are able to provide services in line with market demand. By studying Internet adoption and consumption behavioral trends combined with development of fixed broadband up until present day, the thesis will serve as a basis for what the future might hold. These findings were then complemented with insights from market active experts together with adjacent research on future broadband connectivity, and compiled into a possible projection for fixed Swedish household broadband. The findings show that, with increasing societal integration, Internet is commonly viewed more and more as a commodity; a societal necessity rather than an, as previously viewed, additional service. Furthermore, the increasing speed trend remains but might wane within 10 years as development further than so, with consistent rate, will heavily exceed any imaginable future bandwidth utilization. Consequently, the idea of a normalized broadband, sufficient for the vast majority of household consumers is discussed as possibility from a 3-6 year perspective. / Syftet med denna studie är att undersöka, i ett 3-6 års perspektiv, hur fast bredband kommer att användas i svenska hushåll. Internet är allt mer integrerat i vårt dagliga liv. Internet används för kommunikation, underhållning och företagande för att nämna några exempel, och användningsområdena är ständigt växande. Hur denna expansion kan påverka hushållens användningsmönster och vad dessa eventuella förändringar kommer att kräva från en fast bredbandsanslutning är kontinuerliga frågor i behov av utredning för att se till att Internetleverantörer kan tillhandahålla tjänster i linje med marknadens efterfrågan. Genom att studera Internetvanor och konsumtionstrender i kombination med utvecklingen av fast bredband fram till idag, skapades en grund för vad framtiden skulle kunna medföra. Dessa slutsatser kompletteras sedan med insikt från marknadsaktiva experter samt med närliggande forskning om framtida bredbandsanvändning, och sammanställdes till en trolig prognos för fast bredband i svenska hushåll. Resultaten visar att med ökande samhällsintegration, ses Internet allt mer som en grundläggande samhällstjänst snarare än en, som det hittills betraktats, privat tilläggstjänst som man väljer eller avstår ifrån av olika anledningar. Utvecklingen mot ännu snabbare bredband fortsätter, men bör avta inom 10 år då utveckling längre än så i samma takt kommer grovt överskrida all tänkbar framtida bandbreddsutnyttjande. Följaktligen diskuteras möjligheten av ett normaliserat bredband, omfattande nog för majoriteten av alla hushållsanvändare inom ett 3-6 års perspektiv.

QC 20110616

Fixed income markets are vast markets, involving a large number of actors including financial institutions, state actors, asset managers and corporations. An import part of these markets are contracts written on the xIBOR rates. This report is concerned with the trying to provide prices for options written on these rates, in particular for swaptions that are not at-the-money (atm) utilizing prices in the cap market. Different methods have been suggested in the literature for solving this problem. In particular we study the method suggested by Hagan et al where one calibrates a SABR model to the caplet surface with the same expiry as the swaption. One then assumes that the swaption contract with the same expiry follows the same SABR dynamics as the caplet, but with a recalibrated initial volatility to fit the atm point. We also study the approach suggested by Rebonato and Jäckel. They derive a model for swaption prices based on the individual volatilities of the forward rates that the underlying interest rate swap consists of, as well as the correlation between the forward rates.  Both of these approaches are studied empirically for the STIBOR market. The data set span between 2016 and 2021 and consists of the yield curve, flat cap volatilities and swaption volatilities. We use the 1Y1Y and 5Y5Y swaption surfaces, where the prices are not only quoted atm, to verify our model. We conclude that despite the SABR model being able to fit the caplet prices well, the method suggested by Hagan does not capture the swaption smile. The Rebonato and Jäckel approach also falls short of capturing the smile and produces similar results as the Hagan et al method. This is suggested to be due to the Hagan method capturing the caplet smile well, and the constant correlation assumption made in this thesis.

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Includes bibliographical references / This paper investigates the impact of firm size and industry on the capital structure of listed South African firms. It uses data obtained from firms listed on the Johannesburg Stock Exchange and tests trade-off theory and pecking order theory for firms of various sizes, firms in different industries and also tests for differences between debt maturities. Multiple fixed effect models are used to firstly test for the main factors that impact capital structure and secondly to test which sources of capital are preferred to finance a change in assets. The analysis shows that firms of different sizes and firms that operate in different industries choose their capital structure in various ways. Larger firms are more highly geared debt more than small firms and smaller firms prefer to use internally generated funds. The two main capital structure theories, trade-off and pecking order, do not explain the difference in behaviour adequately. The paper also finds that similar factors impact both long-term and short-term debt.

Various methods were tried in an attempt to obtain a technique for quantifying the gnawing effects of apomorphine on rats. A technique using a restraining tube was developed. Under a 2 milligram per kilogram intraperitoneal injection of apomorphine, four female Long Evans hooded rats were placed on continuous and fixed reinforcement schedules using a gnawable pine block. Subjects would learn to turn their heads away from the gnawable object in order to obtain 15 seconds of gnawing time. The rate of response increased from less than one response in 5 minutes to over 3 responses per minute in 10 one-half hour conditioning sessions. Rates of response stabilized during the last 5 experimental sessions and fixed ratio schedules of up to 5:1 were obtained in five additional 1 '1/ 2 hour sessions.

No description available.

No description available.