[popo]

If you have two cameras of different sensor size and stood in the same spot, and wanted to get the same photo, you need to do what I said. If you don't care about making it match, you can do whatever you like.

One step at a time, you multiply the crop factor to the focal length so you get the same field of view.
Bit if you then set the same f number, you will get different depth of field. So you need to multiply that by the crop factor too.
But a higher f number would be darker right? So we have shutter speed and ISO left. We can't use a different shutter otherwise we'd have a different amount of motion blur. So we set a higher ISO.
In this case, you have look at the sensor in area terms. The bigger sensor has a bigger light collection area, offsetting what would have been higher noise.

As for a compact camera being equivalent to high f numbers and ISO on a DSLR, that's exactly the case. Point and shoots generally have massive depth of field, and have to apply a lot of noise reduction to get a nice looking image out.