Any Arbitrary Function According to the attached reference, does it mean that the adversary computes $PPT(initial~input)$, $PPT(z)$ and $PPT(f_i(x',y'))$?

For example, suppose the corrupted party, in the malicious model, has inputs $x,z$ and it wants to compute $x \land y$, then the adversary's output will be:

$PPT(x)$, $PPT(z)$ and $PPT(x \land y))$. Am I right?  

Note: PPT is a probabilistic polynomial-time algorithm
It means that the adversary can perform whatever (PPT) computation it wants based on all the information it has (namely, the corrupted party's input, the adversary's auxiliary input, and the value received from the trusted party) and output the result of that computation.