...ensure greater access for Australian products, enhances prospects for services trade and investment, improves the regulatory environment and promotes increased business mobility. This report focuses on two sections which include immigration policy and transfer of funds and earning from Thailand back to Australian. Immigration policy under Free Trade Agreement The immigration policy under TAFTA provides the temporary entry of natural person who needs to perform engagement on business purpose. Natural person must be a person who is a national or a permanent resident of Australia. This natural person should be employed or signed service contract with company that registered in Australia or Thailand. Furthermore, this person should also meet the criteria on immigration formality in order to have a right to receive temporary entry visa. The eligibility and duration of each stay depend on different business purpose. 1. Business visitors - Thailand does not require a work permit for Australian citizens who are business visitors conducting business meetings in Thailand for up to 15 days, and up to 90 days for APEC Travel Card Holders. This condition is available for service seller, investor and natural persons who are employed by an investor. Service sellers or sales representative of the service firm are people who want to visit Thailand for negotiation about business without make direct sale to the general public or supply service directly. Those Australian investors seek investment...
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...protected by copyright. Monash students are permitted to use these materials for personal study and research only. Use of these materials for any other purposes, including copying or resale, without express permission of the copyright owner, may infringe copyright. The copyright owner may take action against you for infringement. BFF5270: Tutorial Questions Topic 1 – 1A: Introduction to Funds Management 1B: Chartered Financial Analyst (CFA) Ethics Submission due: 2.00pm on the day of the lecture in Teaching Week 2 Note: Tutorial questions are sourced from SPH-BKM = BFF5270: Funds Management, CFASPH = CFA Standards of Practice Handbook and other sources mentioned in the question itself. Students’ work that is copied from solutions or another student(s) or shared and submitted as your own constitutes cheating and/or plagiarism and will not earn any marks. Please be aware that BFF5270 teaching staff can use text-matching software such as Turnitin to check for plagiarism. 2 Question 1 Teachers Insurance and Annuity Association – College Retirement Equities Fund (TIAA– CREF) is a Fortune 100 financial services organisation in the US. It is the leading retirement provider for people who work in the academic, research, medical and cultural fields. TIAA–CREF serves 3.9 million active and retired employees participating at more than 15,000 institutions. Visit TIAA–CREF web site and provide a brief discussion on five basics of long-term investing in your...
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...MPF53 FINANCE “Review the proposed Carbon Pollution Reduction Scheme (CPRS) in Australia and critique its impact on financial management decisions” BY Xiao Nie Yang Song Date: 20th April 2010 Introduction In today’s society, all countries in the world will experience climate change in coming decades because of increasing carbon pollution (climate change 2007). In order to reduce the carbon pollution, ETS and CPRS will be proposed in the world wide and Australia. This essay is to focus on revising the proposed carbon pollution reduction scheme and point out its impact on financial management decision. In the first place, there is a brief summary about the CPRS scheme in detail. In the second place, there is an analysis about major and minor financial management decisions. In the final place, the impacts of CPRS on its financial management decision will be raised. All in all, the conclusion is a summary of the aim of the essay and how to achieve this aim. The CPRS scheme The emissions trading scheme (ETS) in Australia is called Carbon Pollution Reduction Scheme (CPRS). Australia is very vulnerable to the effects of climate change. They recognize that human activity is causing the climate change and also Australia is one of the biggest polluters on a per capita basis. The CPRS will help reduce Australia’s carbon pollution by putting a price on carbon for the first time in Australia’s history. The carbon price means that goods that...
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...The Impact of Globalisation on the Australian Economy By Anthony Stokes Lecturer in Economics, Australian Catholic University Globalisation is not new. Australia has been involved in trade, investment, financial flows, technology transfers and the migration of labour since its foundation as a colony. What has changed is the size, direction and influence of these transfers, especially since 1980. There are a number of factors that have aided this transformation. They include: • The expansion of new markets – foreign exchange and capital markets are linked globally. They operate 24 hours a day with dealings any where in the world possible in real time. Financial deregulation and the floating of the Australian dollar since 1983 intensified the impact of globalisation on the Australian economy. • New technology and the tools of globalisation – the internet, email, mobile phones, media and communication networks have all sped up the process of globalisation. They have increased the spread and speed of knowledge transfer and communication. Australian consumers can buy products from any nation in the world, transfer funds between accounts or purchase shares in any major market. Australian businesses can market their products at a fraction of the cost and be exposed to a global market place of competition. This potentially is the closest we will ever come to the perfect market. • New institutional players – The World Trade Organisation (WTO) has growing authority...
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...ENG224 | Will changing the Australian legal drinking age be the demise of youth music festivals? | Stage Two Research Paper | | Maya Burvill 16568 | 4/twenty-one/2011 | Academic Research Paper – Stage Two | Will changing the Australian legal drinking age be the demise of youth music festivals? Abstract: Binge drinking and alcohol incurred road accidents by youth are a growing concern in Australia; issues which governments are looking for strategies to control. One solution that is currently being debated is to increase the minimum legal drinking age from eighteen to twenty-one. This option would create some unintended consequences that will adversely impact Australia’s youth and the Australian events industry. Alcohol is integral to the success of any large scale licenced event as it encourages attendance, is a key profit source and often is the main source of sponsorship. This paper evaluates the beneficial and detrimental effects of changing the legal drinking age in Australia, focusing on the potential detrimental impact such a move would have on youth and Australian music festivals. It was concluded that whilst there are significant health benefits, changing the minimum legal drinking age in Australia would ultimately have a negative impact on youth as it will encourage them to participate in illegal behaviour and seriously threaten the financial viability of Australian music festivals. Will changing the Australian legal drinking age be the demise...
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...SAMPLE FINAL EXAM PAPER SUBJECT NAME : Capital Markets SUBJECT NO. : 25741 TIME ALLOWED : Three (3) hours plus ten (10) min. reading time NOTES/INSTRUCTIONS TO CANDIDATES: Part A: 10 multiple choice questions worth 1 mark each (10 marks in total). • Encode your name and student number on the computer-coding sheet with a 2B grade pencil. • Record one answer to each multiple-choice question with a 2B grade pencil on the computer-coding sheet. Part B: 5 calculation questions worth 4 marks each (20 marks in total). • Answers to these questions must be written in the examination booklet provided. You must show your workings for the calculations. Unsubstantiated answers will be ignored. Part C: 5 short-answer questions worth 4 marks each (20 marks in total). • Answers to these questions must be written in the examination booklet provided. Note: Non-programmable calculators may be used. THE QUESTIONS IN THE FINAL EXAM WILL COVER ALL THE MATERIAL STUDIED IN LECTURES 7 TO 12 IN THE SUBJECT. THE QUESTIONS COULD BE SIMILAR TO SOME OF THESE SAMPLE QUESTIONS OR TOTALLY DIFFERENT. REVISE ALL MATERIAL IN THE LECTURE NOTES, REVISION QUESTIONS AND MULTIPLE CHOICE QUESTIONS ON UTSONLINE . Formulae The following formulae were used in topics 7, 8, 9, 10, 11 and 12. You are assumed to know how to use them. |Call IV = max.[S-X,0] |[pic] ...
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...The Australian Financial System in the 2000s: Dodging the Bullet Kevin Davis* Abstract The global financial crisis (GFC) occupied only a quarter of the decade of the 2000s but, because of its severity and implications for future financial sector development, dominates the decade. The Australian financial system coped relatively well with the GFC, raising the question of whether there was something special about its structure and prior evolution which explains that experience. This paper reviews Australian financial sector performance and development over the decade, then provides a more detailed overview of the Australian GFC experience and its implications, and considers explanations for the Australian financial sector resilience. 1. Introduction The Australian (and global) financial system entered the first decade of the millennium preparing for a systems crisis, in the form of the Y2K computer scare, which on 1 January 2000 passed without event. But towards the end of the decade, the financial sector was faced with, arguably, its most serious systemic crisis ever, which the Australian financial system and economy weathered relatively well compared with advanced nations in the northern hemisphere.1 While the GFC occupied only one-quarter of the past decade (from mid 2007), it prompts the questions which this review must seek to answer. Was there something about the structure and evolution of the Australian financial system which explained its resilience in the face...
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...Holdings 14% Australian Equities 0% World Equities, Unhedged 0% World Equities, Hedged 11% Emerging Markets 13% EQUITIES 38% Australian Fixed Income 13% World Fixed Income, Hedged 19% Australian Index-Linked Bonds 0% Australian Cash 1% FIXED INCOME 33% Australian Listed Property 8% Australian Direct Property 9% PROPERTY 17% Hedge Funds 9% Commodities 1% US Private Equity 2% ALTERNATIVES 12% TOTAL 100% Contents Some critical assumption……………………………2 Asset Class Considerations………………………….2 Equities…………………………………………………..2 Fixed Income………………………………………….3 Alternatives and Property………………………4 Analysis Mothod………………………………………….5 Historical 3 Year Rolling Returns…………….5 Bootstrap Analysis………………………………….5 Mean-Variance Optimizer……………………..6 Results…………………………………………………………7 Final Recommendation……………………………….8 Building a Concrete Portfolio for Jane and Douglas Breighton………………………………….8 Appendices………………………………………………….9 References………………………………………………..13 Minggang Gu|u5108473 Kejie Wang|u5133766 Tutorial Thursday 4pm Suggested Asset Allocation Breighton Holdings 14% Australian Equities 0% World Equities, Unhedged 0% World Equities, Hedged 11% Emerging Markets 13% EQUITIES 38% Australian Fixed Income 13% World Fixed Income, Hedged 19% Australian Index-Linked...
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...Statement on Monetary Policy – February 2012 Box D: Covered Bond Issuance by Australian Banks Covered bonds are on-balance sheet asset-backed securities issued by financial institutions. Investors in covered bonds have a preferential claim on a pool of assets (called the cover pool) in the event that the issuing institution fails to make the scheduled payments on the covered bond. If the cover pool is insufficient to meet the issuer's obligations to investors, they have an unsecured claim on the issuer for any residual amount.[1] Covered bonds typically have a higher credit rating than that of the issuer because the cover pools are usually comprised of high-quality assets such as prime mortgages, covered bond holders rank above unsecured creditors, and extra collateral is held in the cover pool. There is a well-developed global market for covered bonds, particularly in Europe. In Australia, however, authorised deposit-taking institutions (ADIs) have only recently been permitted to issue these bonds, following the passing of legislation – the Banking Amendment (Covered Bonds) Act 2011 – in October 2011. Under the new legislation, there is a cap on covered bond issuance by ADIs to limit the subordination of depositors to covered bond investors. An ADI must limit the value of its cover pools to a maximum of 8 per cent of its assets in Australia. Given that Australian ADIs have set their cover pools at close to 120 per cent of the value of covered bonds – with some variation of...
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...protects employees’ right by implement various policies into workplace. From the point of employer’s view, employer wants the company to running in maximum productivity and efficiency by offering as lower and simpler as possible to employee’s salary working condition. In contract, employees are willing to receive higher reward and better working condition according to their capacity. However, in most cases, employees do not receive equal treatment due to they have relative less bargaining power than employers within employment relations. Basic on this situation, Australian policymaker establish rules including the National Employment Standards, modern awards, Occupational Health and Safety to solve the inequity between employers and employees. The National Employment Standards, which is a component of Fair Work Act 2009 take effect on 1 January 2010, is a good example of how the state government to protect Australian employees’ right. It is introduced by the Rudd...
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...Susilo Hatono 4th Client Meeting November 2011 Excellence Professionalism Commitment Integrity Partnering and Leading You to Your Success 1 Our Trusted Team and Approach Our relationship is established on EPIC values – Excellence, Professionalism, Integrity, Commitment You are the centre of everything we do We are committed to listening, understanding, and determining your investment needs, objectives, preferences, constraints and risk tolerance; together with a thorough analysis of the economy, we seek to give you the most up-to-date and personalised solutions to achieve your goals and objectives. Mr. Susilo Hatono Your Team of Trusted Specialists Steffi Tedjo Relationship Manager Teo Shih Jie Economist Benjamin Chong Portfolio Manager Lim Chang Tat Equity Product Specialist Cheryl Ong Fixed Income Product Specialist Natasha Wan Alternative Product Specialist 2 1 11/4/2011 Agenda for today’s meeting INTRODUCTION INTRODUCTION + + MACROMACROECONOMIC ECONOMIC OUTLOOK OUTLOOK REVIEW OF MACROREVIEW OF INVESTMENT ECONOMIC INVESTMENT OBJECTIVES OUTLOOK OBJECTIVES - Updated investment - Updated objectives investment objectives current - Review of investments - Review of current investments - Overview of Portfolio PROPOSED PROPOSED ASSET ASSET ALLOCATION ALLOCATION Equities Equities Fixed Income Fixed Income Alternative Alternative Investments Investments - Recap of Portfolio POTENTIAL POTENTIAL CONSIDERACONSIDERATIONS...
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...Property Finance and Tax Assignment 1 Cromwell Property Group Table of Contents 2.0 Introduction 3 3.0 Background of company 4 3.1 Cromwell Property Securities limited 4 3.2 Cromwell Property Services Pty Ltd 4 4.0 Current Quantitative Considerations 5 5.0 Cromwell Position Prior to Global Financial Crisis 6 6.0 2007 Overview 7 7.0 2008 Overview 8 8.0 2009 10 9.0 2010 11 10.0 2011 12 10.1 Hedging 12 11.0 Cromwell’s financial position post GFC 13 End of 2010 figures 13 End of 2007 figures 13 12.0 Comparison to Mirvac Group and Stockland Corp 14 13.0 Conclusion 14 14.0 References 15 Introduction Before the 2007 global financial crisis Australia had a strong property market, the decade of 1999 to 2009 produced a 9.4% (national) average increase in median property values, at this rate, properties doubled in value in less than eight years. Once the affects of 2008 had settled in, a 3.8% decline was apparent in median values. However due to stimulus spending and a historically low interest rates there was a quick rebound. The property market was generally flat for the rest of the year. Continuing to a decline in 2011 with undervalued stocks. This was considered a buyers market, this has been taken advantaged of by a listed property company called Cromwell Property Group. The GFC had resulted in listed companies losing substantial amounts of capital, Cromwell Group was affected however not as bad as other companies...
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...Topic 1: OPERATIONS Operations can be defined as the process of converting a good or service into a finished product. Roles of operations management Operations management refers to the management of that process e.g. the allocation and maintenance of machinery and resources. Strategic role of operations The strategic role of operations management involves long term management issues (3-5 years). Cost leadership Involves producing goods or services at the lowest possible cost. If a business can keep its costs low then it will maximise its profits giving the business a competitive advantage over its competitors. Good/service differentiation By differentiating its good/services a business will make its output stand out from its competitors and therefore capture greater market share. Goods and/or services in different industries Goods and services in different industries will always be differentiated from one another. They will always try to differentiate themselves from their competitors in order to attract customers. Influences on operations There are seven major influences on operations: * Globalisation - Globalisation is known as the increasing economic and financial integration of economies globally. The term broadly refers to the global alterations that are taking place to eliminate national boundaries from the key business functions. * Technology – Technology has also had a great influence on production. Businesses must access the latest...
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...answer sheet provided The examinations office will provide calculators for the exam. The candidate is not allowed to use any other examination aid. This paper may NOT be taken out of the examination room. Please identify the letter of the choice that best completes the statement or answers the question and record your selection on the answer sheet provided. There are 90 Questions. Chapter 2: 1. The level of banks’ share of assets of all Australian financial institutions from the 1950s onwards first _______, then in the 1980s _______, and recently has _______due to securitisation of banks’ assets. A: increased; decreased; increased B: increased; decreased; remained stable C: decreased; increased; decreased D: decreased; increased; remained stable 2. Which of the following is a role of a bank? A: Attract funds from the capital markets to facilitate borrowing by the household sector. B: Facilitate the flow of funds from borrowers to lenders. C: Facilitate the flow of funds from savers to borrowers. D: Manage the level of interest rates. 3. Banks have gradually moved to liability management in the...
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...Part 1: The Australian Accounting Environment Chapter 1 An overview of the Australian external reporting environment Review questions 1.1 Refer to pages 6 to 25 of the text. The main bodies responsible for regulating accounting disclosure in Australia are: (i) Australian Securities and Investments Commission (ASIC) Briefly, ASIC is responsible for administering corporations legislation within Australia (which includes various reporting requirements). According to its own website, the role of the ASIC is to enforce and regulate company and financial services laws to protect consumers, investors and creditors. (ii) Australian Accounting Standards Board (AASB) The role of the AASB is to develop a conceptual framework. It is also responsible for ‘making’ accounting standards that have the force of law under the corporations legislation, as well as formulating accounting standards that are to be used by reporting entities that are not governed by corporations legislation, inclusive of entities operating in the not-for-profit sector and public sector entities. The AASB is also responsible for Interpretations Advisory Panels, user focus groups and project advisory panels. As was indicated in this chapter, however, a great deal of the responsibility for developing accounting standards to be released by the AASB is in the hands of the IASB, as is the development of the conceptual framework. It is to be anticipated that only minor...
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