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There are several factors to consider when analyzing a company’s DSI. These include: • The company’s DSI relative to its industry • Trends in the company’s DSI over time • DSI in conjunction with other metrics • Caveats that can make DSI misleading This video will discuss all of these factors in detail, and give several examples of current companies' DSI. 0:00 Introduction 0:17 Industry factors 1:49 Example of DSI for discount retail stores 2:33 DSI of Walmart vs Target 4:21 Trends in DSI 4:49 Trends for discount retail stores 5:20 What does an upward spike in DSI mean? 6:59 Other metrics 7:47 Caveats 9:16 Conclusion — Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education freely available to the world. — SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS: • A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING • A 44-PAGE GUIDE TO U.S. TAXATION • A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS • MANY MORE FREE PDF GUIDES AND SPREADSHEETS * http://eepurl.com/dIaa5z — SUPPORT EDSPIRA ON PATREON *https://www.patreon.com/prof_mclaughlin — GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT * https://edspira.thinkific.com — LISTEN TO THE SCHEME PODCAST * Apple Podcasts: https://podcasts.apple.com/us/podcast/scheme/id1522352725 * Spotify: https://open.spotify.com/show/4WaNTqVFxISHlgcSWNT1kc * Website: https://www.edspira.com/podcast-2/ — GET TAX TIPS ON TIKTOK * https://www.tiktok.com/@prof_mclaughlin — ACCESS INDEX OF VIDEOS * https://www.edspira.com/index — CONNECT WITH EDSPIRA * Facebook: https://www.facebook.com/Edspira * Instagram: https://www.instagram.com/edspiradotcom * LinkedIn: https://www.linkedin.com/company/edspira — CONNECT WITH MICHAEL * Twitter: https://www.twitter.com/Prof_McLaughlin * LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin — ABOUT EDSPIRA AND ITS CREATOR * https://www.edspira.com/about/ * https://michaelmclaughlin.com

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In this video, you will learn everything you need to know about American depositary receipts. #americandepositaryreceipts #adr #wallstreetmojo #foreigncompany #stockmarket Chapters: 00:00 – Introduction 00:22 – What are American depositary receipts? 01:29 – Types of ADRs 02:21 – Advantages of ADRs 03:03 – Disadvantages of ADRs What are American depositary receipts? An American depositary receipt allows investors in the US to purchase shares of companies situated and listed on stock exchanges of other countries. J.P. Morgan was the first to create an ADR in 1927, in which they enabled Americans to invest in a British company, Selfridges. Currently, the US stock exchanges have thousands of ADRs traded representing various companies from various countries. (Explained in detail in the video) Types of ADRs Now that you’ve understood what an ADR is, you should know that there are mainly 2 types of ADRs, sponsored ADRs and unsponsored ADRs. In sponsored ADRs, the banks issuing the ADR, and the company whose ADR is being issued, have a legal relationship. In an unsponsored ADR, the bank and the company do not have any legal relationship. (Explained in detail in the video) Advantages of ADRs When it comes to ADRs, both the company that issues the ADR and the investors that purchase the ADR can benefit a lot. It allows companies to access capital from investors in other countries, and the ADRs can also be used during mergers or acquisitions. For an investor, it allows them to own shares of foreign companies, and it also helps them diversify their portfolios. Disadvantages of ADRs Firstly, unsponsored ADRs may not comply with SEC rules. Hence it may be safe to purchase such ADRs. Secondly, ADRs may not be available for every foreign company. Hence investors may not get lots of options. Finally, investors may be taxed double on the dividends they receive through ADRs if there are no proper tax laws to govern such arrangements. This was all about American depositary receipts. We regularly upload videos on such topics, so make sure you subscribe to the channel. Also, don’t forget to like the video. ========================================================================== Subscribe to Our Channel – Youtube ► https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1 LinkedIn ► https://www.linkedin.com/company/wallstreetmojo/ Facebook ► https://www.facebook.com/wallstreetmojo Instagram ► https://www.instagram.com/wallstreetmojoofficial/ Twitter ► https://twitter.com/wallstreetmojo

In this video, you will learn about a concept known as base rate fallacy and how you can overcome it. #baseratefallacy #decisionmaking #wallstreetmojo #investing #trading #stockmarket #behavioralfinance Chapters: 00:00 – Introduction 00:33 – What is base rate fallacy? 02:43 – Example of base rate Fallacy. 03:44 – How to overcome? What is base rate fallacy? Many investors and traders fall for something known as base rate fallacy. It is a key concept in behavioral finance, and it was pioneered by 2 Israeli psychologists, Daniel Kahneman and Amos Tversky. (Explained in detail in the video) Base rate fallacy is a human tendency to give more importance to particularly small data over a large set of data that sets the base rate. Base rate fallacy refers to people misjudging events by focusing on events that they feel are more relevant, and they ignore events that are, in turn, the most relevant. (Explained in detail in the video) Example What would you do if a company with a bad track record released a good earnings report? Would you invest in that company because it had a good performance, or will you avoid investing in it because it has a bad track record? If you choose to invest in it, you have fallen for the base rate fallacy. (Explained in detail in the video) How to overcome? You should stop making decisions based on a new piece of information and consider the overall context set by past data. If you want to invest in any stock or other financial instrument, you should do that with a long-term mindset. It will allow you to think deeply and not rush into it. (Explained in detail in the video) If you do not have much investing experience, you can consider consulting someone with ample knowledge and experience in investing. This will save you from making poor investment decisions and costing you money. We regularly come up with such content on finance, so do subscribe to the channel if you don’t want to miss out on our content. ========================================================================== Subscribe to Our Channel – Youtube ► https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1 LinkedIn ► https://www.linkedin.com/company/wallstreetmojo/ Facebook ► https://www.facebook.com/wallstreetmojo Instagram ► https://www.instagram.com/wallstreetmojoofficial/ Twitter ► https://twitter.com/wallstreetmojo

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Get 25% off Core Tier membership today. Enjoy a new personalized AICPA® membership experience with tier-based options. You’ll access a world of exclusive membership resources, 24/7 guidance and support, expanded CPE options and more career-boosting benefits.

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In this part 2 video of algorithmic trading, we will dive deeper into the topic of algorithmic trading. #algorithmictrading #financialtrading #wallstreetmojo #algo #bottrading Chapters: 00:00 – Introduction 00:27 – Algorithmic trading strategies 00:52 – No. 1: Trend trading 01:12 – No. 2: Mean reversion 01:35 – No. 3: Arbitrage 01:58 – No. 4: Index fund rebalancing 02:17 – Components 03:39 – Example The strategies that the biggest algo trading firms use can be really complex and complicated at times, but here are some commonly used algo trading strategies. (Explained in detail in the video) Trend trading The price trends just 30% of the time, and if you can catch those trends, it could fetch you some really big profits. (Explained in detail in the video) Mean reversion A mean reversion strategy looks at past price movement to analyze how far or close the price is currently from its equilibrium price or the mean price. This is a rather more advanced type of deployment strategy, but it sure does fetch some decent returns if done right. Arbitrage Arbitrage is when there is a mismatch between the prices of the same thing in two different markets. Arbitrage opportunities do not stay for long, but if you have an algorithm that looks to spot such opportunities and trade them, then you can capitalize on them. (Explained in detail in the video) Index fund rebalancing Index fund portfolios often need rebalancing as the price of each stock changes. Hence, investors use algorithms to bring their portfolios in sync with the index and maintain the correlation between it and the portfolio. Components If algorithmic trading has piqued your interest and you want to build such a trading model for yourself, then here’s what you’d need. (Explained in detail in the video) Firstly, you’ll need to have quite some knowledge about trading strategies, and also about computer programming. Next, you’ll need to have some really good computers that can sustain the load of such high-paced and intensive work. (Explained in detail in the video) The next component would be network connectivity. Without this, it’ll be like you’re on an island without any contact with the world. Finally, you’ll need to have some system in place that can check whether your strategy is performing as per your requirements or not. (Explained in detail in the video) Example Say that you’ve come up with a strategy to trade stocks, but you don’t have the time to sit in front of the screen the entire time, or you are not that quick with executing the trades. You can hire a programmer to build a computer code based on these rules and deploy this in the market. The algorithm would automatically take the trades based on the rules, and you won’t have to do anything. This was all about algorithmic trading, and we hope you’ve learned a lot in this 2 part video series. Don’t forget to subscribe to the channel and also like the video. ========================================================================== Subscribe to Our Channel – Youtube ► https://www.youtube.com/channel/UChlNXSK2tC9SJ2Fhhb2kOUw?sub_confirmation=1 LinkedIn ► https://www.linkedin.com/company/wallstreetmojo/ Facebook ► https://www.facebook.com/wallstreetmojo Instagram ► https://www.instagram.com/wallstreetmojoofficial/ Twitter ► https://twitter.com/wallstreetmojo

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Before you can test a client’s internal controls you first need to know which internal controls are in place. The auditor can identify the internal controls by asking the client’s employees to complete a questionnaire and by doing a walkthrough of the purchasing process. The walkthrough would involve following a purchase from the initial requisition all the way through to updating the accounts payable records and the general ledger. The auditor should also be sure to consider entity-level controls. For example: • Does the audit committee play an active role? • Does management have written policies and procedures for authorizing purchases? • Does management require authorized signatures for purchase requisitions and purchase orders? • Does management ensure that only authorized persons can make changes to vendor information? • Does management set dollar limits for purchases by different levels of employees? • Does management closely monitor days payable outstanding? In addition to considering entity-level controls, the auditor should also identify the internal controls pertaining to each management assertion. For example, a 3-way match of a purchase order, receiving report, and vendor invoice provides evidence about the occurrence of a purchase transaction and the existence of accounts payable. • Verifying the dates on these documents provides evidence about the cutoff assertion • The use of prenumbered documents provides evidence about the completeness assertion • Comparing these documents ensures that the correct type of goods and the correct quantity of goods have been purchased and at the correct price and terms of trade. This provides evidence about the authorization and accuracy assertions Segregation of duties is also a very important internal control for the purchasing process. Custody of assets and blank forms is also critical to prevent employee fraud. 0:00 Introduction 0:20 Walkthrough 1:15 Entity-level controls 2:47 Internal controls related to management assertions 5:04 Segregation of duties 5:49 Examples of segregating duties 7:49 Custody of assets and blank forms 9:24 Internal controls for purchase transactions 13:02 Internal controls for cash disbursements 13:36 Internal controls for accounts payable — Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education freely available to the world. — SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS: • A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING • A 44-PAGE GUIDE TO U.S. TAXATION • A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS • MANY MORE FREE PDF GUIDES AND SPREADSHEETS * http://eepurl.com/dIaa5z — SUPPORT EDSPIRA ON PATREON *https://www.patreon.com/prof_mclaughlin — GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT * https://edspira.thinkific.com — LISTEN TO THE SCHEME PODCAST * Apple Podcasts: https://podcasts.apple.com/us/podcast/scheme/id1522352725 * Spotify: https://open.spotify.com/show/4WaNTqVFxISHlgcSWNT1kc * Website: https://www.edspira.com/podcast-2/ — GET TAX TIPS ON TIKTOK * https://www.tiktok.com/@prof_mclaughlin — ACCESS INDEX OF VIDEOS * https://www.edspira.com/index — CONNECT WITH EDSPIRA * Facebook: https://www.facebook.com/Edspira * Instagram: https://www.instagram.com/edspiradotcom * LinkedIn: https://www.linkedin.com/company/edspira — CONNECT WITH MICHAEL * Twitter: https://www.twitter.com/Prof_McLaughlin * LinkedIn: https://www.linkedin.com/in/prof-michael-mclaughlin — ABOUT EDSPIRA AND ITS CREATOR * https://www.edspira.com/about/ * https://michaelmclaughlin.com