OPEC essays

OPEC essays OPEC affects the American economy. It influences the economy due to oil consumption of many Americans. We use oil in everyday life. It is used in cars and jobs all across the United States. Many machineries use oil to power our electrical appliances. Since most young Americans dont even know what OPEC is, I will give you a brief synopsis of it. OPEC is a voluntary intergovernmental organization that co-ordinates and unifies the petroleum policies of its member countries (opec.org). Open seeks to insure the stabilization of oil prices in international markets with a view to eliminating harmful fluctuations with regard given at all times to securing a steady income for all. They must also have a secure capital for those investing in the petroleum industry. OPEC was formed at a meeting held on September 14, 1960 in Baghdad, Iraq, by five founding members. These members were Iran, Iraq, Kuwaiti, Saudi Arabia, and Venezuela. The United States has never been a member of OPEC although in 1996 they produced 6.5 million barrels of oil per day, which makes it the worlds third largest producer. The reason for the United States government not becoming a part of OPEC is their conflicting standpoints regarding oil exportation. To become a constituent of OPEC you must have a substantial net export of crude petroleum. A majority of at least three-fourth in the OPEC organization also must accept you. There are three different categories of members. There are those who are founding members, which consist of the six original members. The remaining is one of either full member or associate members. Those that are associate members of a country do not qualify for full membership but which is nevertheless admitted under special conditions as maybe prescribed by the conference (MacAvoy 84). There are currently eleven OPEC member countries. The OPEC conference of ministries meets in ordinary sessions twice a ...

History of the French Revolutionary and Napoleonic Wars

History of the French Revolutionary and Napoleonic Wars After the French Revolution transformed France and threatened the old order of Europe, France fought a series of wars against the monarchies of Europe to first protect and spread the revolution, and then to conquer territory. The later years were dominated by Napoleon and France’s enemy was seven coalitions of European states. At first,  Napoleon first bought success, transforming his military triumph into a political one, gaining the position of First Consul and then Emperor. But more war was to follow, perhaps inevitably given how Napoleon’s position was dependent upon military triumph, his predilection for solving issues through battle, and how the monarchies of Europe still looked at France as a dangerous enemy. Origins When the French revolution overthrew the monarchy of Louis XVI and declared new forms of government, the country found itself at odds with the rest of Europe. There were ideological divisions - the dynastic monarchies and empires opposed the new, partly republican thinking - and family ones, as relatives of those affected complained. But the nations of central Europe also had their eyes on dividing Poland between them, and when in 1791 Austria and Prussia issued the Declaration of Pillnitz - which asked Europe to act to restore the French monarchy – they actually worded the document to prevent war. However, France misinterpreted and decided to launch a defensive and pre-emptive war, declaring one in April 1792. The French Revolutionary Wars There were initial failures, and an invading German army took Verdun and marched close to Paris, promoting the September Massacres of Parisian prisoners. The French then pushed back at Valmy and Jemappes, before going further in their aims. On November 19th, 1792, the National Convention issued a promise of assistance to all people looking to regain their liberty, which was both a new idea for warfare and the justification to create allied buffer zones around France. On December 15th, they decreed that the revolutionary laws of France – including the dissolution of all aristocracy – were to be imported abroad by their armies. France also declared a set of expanded ‘natural borders’ for the nation, which put the emphasis on annexation rather than just ‘liberty’. On paper, France had set itself the task of opposing, if not overthrowing, every king to keep itself safe. A group of European powers opposed to these developments was now working as the First Coalition, the start of seven such groups formed to fight France before the end of 1815. Austria, Prussia, Spain, Britain and the United Provinces (Netherlands) fought back, inflicting reverses on the French which prompted the latter to declare a ‘levy en masse’, effectively mobilizing the whole of France into the army. A new chapter in warfare had been reached, and army sizes now began to rise greatly. The Rise of Napoleon and the Switch in Focus The new French armies had success against the coalition, forcing Prussia to surrender and pushing the others back. Now France took the chance to export the revolution, and the United Provinces became the Batavian Republic. In 1796, the French Army of Italy was judged to have been underperforming and was given a new commander called Napoleon Bonaparte, who’d first been noticed in the siege of Toulon. In a dazzling display of manoeuvre, Napoleon defeated Austrian and allied forces and forced the Treaty of Campo Formio, which earned France the Austrian Netherlands, and cemented the position of the French-allied republics in North Italy. It also allowed Napoleon’s army, and the commander himself, to gain large amounts of looted wealth. Napoleon was then given a chance to pursue a dream: attack in the Middle East, even on into threatening the British in India, and he sailed to Egypt in 1798 with an army. After initial success, Napoleon failed in a siege of Acre. With the French fleet seriously damaged in the Battle of the Nile against British Admiral Nelson, the Army of Egypt was greatly restricted: it could not get reinforcements and it could not leave. Napoleon soon left – some critics might say abandoned – this army to return to France when it looked like a coup would take place. Napoleon was able to become the centerpiece of a plot, levering his success and power in the army to become First Consul of France in the Coup of Brumaire in 1799. Napoleon then acted against the forces of the Second Coalition, an alliance which had gathered to exploit Napoleon’s absence and which involved Austria, Britain, Russia, the Ottoman Empire and other smaller states. Napoleon won the Battle of Marengo in 1800. Along with a victory by French general Moreau at Hohenlinden against Austria, France was thus able to defeat the Second Coalition. The result was France as the dominant power in Europe, Napoleon as a national hero and a possible end to the warfare and chaos of the revolution. The Napoleonic Wars Britain and France were briefly at peace but soon argued, the former wielding a superior navy and great wealth. Napoleon planned an invasion of Britain and gathered an army to do so, but we don’t know how serious he was about ever carrying it out. But Napoleon’s plans became irrelevant when Nelson again defeated the French with his iconic victory at Trafalgar, shattering Napoleon’s naval strength. A third coalition now formed in 1805, allying Austria, Britain, and Russia, but victories by Napoleon at Ulm and then the masterpiece of Austerlitz broke the Austrians and Russians and forced an end to the third coalition. In 1806 there were Napoleonic victories, over Prussia at Jena and Auerstedt, and in 1807 the Battle of Eylau was fought between a fourth coalition army of Prussians and Russians against Napoleon. A draw in the snow in which Napoleon was nearly captured, this marks the first major setback for the French General. The stalemate led to the Battle of Friedland, where Napoleon did win against Russia and ended the Fourth Coalition. The Fifth coalition formed and had success by blunting Napoleon at the Battle Aspern-Essling in 1809, when Napoleon tried to force a way across the Danube. But Napoleon regrouped and tried once more, fighting the Battle of Wagram against Austria. Napoleon won, and the Archduke of Austria open peace talks. Much of Europe was now either under direct French control or technically allied. There were other wars – Napoleon invaded Spain to install his brother as king, but instead triggered a brutal guerrilla war and the presence of a successful British field army under Wellington – but Napoleon remained largely master of Europe, creating new states such as the German Confederation of the Rhine, giving crowns to family members, but bizarrely forgiving some difficult subordinates. The Disaster in Russia The relationship between Napoleon and Russia began to fall apart, and Napoleon resolved to act quickly to overawe the Russian tsar and bring him to heel. To this end, Napoleon gathered what was probably the largest army ever assembled in Europe, and certainly a force too big to adequately support. Looking for a quick, dominant victory, Napoleon pursued a retreating Russian army deep into Russia, before winning the carnage that was the Battle of Borodino and then taking Moscow. But it was a pyrrhic victory, as Moscow was set alight and Napoleon was forced to retreat through the bitter Russian winter, damaging his army and ruining the French cavalry. The Final Years With Napoleon on the back foot and obviously vulnerable, a new Sixth Coalition was organized in 1813, and pushed across Europe, advancing where Napoleon was absent, and retreating where he was present. Napoleon was forced back as his ‘allied’ states took the chance to throw off the French yoke. 1814 saw the coalition enter the borders of France and, abandoned by his allies in Paris and many of his marshals, Napoleon was forced into surrendering. He was sent to the island of Elba in exile. The 100 Days With time to think while exiled in Elba, Napoleon resolved to try again, and in 1815 he returned to Europe. Amassing an army as he marched to Paris, turning those sent against him to his service, Napoleon attempted to rally support by making liberal concessions. He soon found himself faced by another coalition, the Seventh of the French Revolutionary and Napoleon Wars, which included Austria, Britain, Prussia and Russia. Battles were fought at Quatre Bras and Ligny before the Battle of Waterloo, where an allied army under Wellington withstood the French forces under Napoleon until a Prussian army under Blà ¼cher arrived to give the coalition the decisive advantage. Napoleon was defeated, retreated, and forced to abdicate once more. Peace The monarchy was restored in France, and the heads of Europe gathered at the Congress of Vienna to redraw the map of Europe. Over two decades of tumultuous warfare had finished, and Europe would not be so disrupted again until World War 1 in 1914. France had used two million men as soldiers, and up to 900,000 had not come back. Opinion varies on whether the war devastated a generation, some arguing that the level of conscription was only a fraction of the possible total, others pointing out that the casualties came heavily from one age group.

Corporate Governance in Argentina Term Paper Example | Topics and Well Written Essays - 1000 words

Corporate Governance in Argentina - Term Paper Example As has been realized, having active majority shareholders might be positive and present good governance since they could give active oversight when it comes to management and also give a ready source of capital support. However, these majority shareholders could also work against the interests of smaller shareholders. Most of these big companies in Argentina do work as groups of companies that are diversified and having a common ownership and control. To them, it is very normal for the profits reaped from these group companies to be used as cash cows in the financing of growth for the capital hungry firms in the group. The development of such groups was partly as a means of effectively financing the capital intensive enterprises. Major changes have occurred in the corporate governance sector in Argentina during the past decade (ACCA 8). 2.0 Rights of Shareholders and Key Ownership Functions As far as Rights of Shareholders and Key Ownership Functions in Argentina’s corporate g overnance are concerned, they seem to concur with OECD principles. In the Argentina’s corporate governance, shareholders have various rights that are provided for them. These rights seem to have a full correspondence with the requirements of OECD after they were reformed following the roundtable discussions and changes in legislation after the crisis where major companies found themselves in economic scandals. These rights include the right to get informed on the operations of their business where they have to be periodically informed on any issues arising and the trend their business is taking. An annual report on the current trend and board’s opinion on the upcoming business plans and the corporate financial statements are also given to shareholders by the board of directors. This information could be obtained from the supervisory board by a request for those shareholders with not less than 2% of capital ownership and through investigations of those denouncements giv en by shareholders who represent not lower than 2% of capital contribution. The shareholders also have a voting right dependent on the extent of shares owned and this right needs to be exercised within the formal dispositions of legislation and by-laws. The shareholders have thus the right to be given the opportunity to participate and vote effectively in the general shareholder meetings. They should therefore; be informed on the rules, voting procedures and any other relevant information that governs general shareholder meetings. The shareholders also have the right to being given a secure method of registering for ownership. They should be able to convey or transfer their shares besides being able to elect and remove the board members when need arises (OECD 18-20; Waring, et al. 205-207). The shareholders also have the inherent right of participation in the decision making processes that are related to certain fundamental corporate changes and should be sufficiently informed regar ding these decisions when they do arise. Such changes include the amendments done to the documents that govern the company such as decisions on the by-laws; authorizations of any additional shares which

Organisations & people management Essay Example | Topics and Well Written Essays - 3000 words

Organisations & people management - Essay Example It can be seen that leadership is an indispensable component in the day to day operations of an organisation and plays a vital role in guiding the organisations through the turbulent periods. One of the major issues brought about by change is resistance to change which is a natural phenomenon but if it is ignored, it can derail progress in the organisation which is why leadership is of paramount importance to any organisation that is serious about its growth and development. In most cases, the way in which organisations respond to new challenges they face in their operations is a true reflection of the values, attitudes as well as the styles of the leaders. It is therefore imperative that leaders embrace attitudes and behaviour that are compatible with the situation obtaining on the ground at that particular moment in order to keep pace with the changes that may be taking place in the environment. It can also be seen that leadership is not an exclusive domain of the chief executive officer or the charismatic leader but in one way or the other, each one of us can find himself in a leadership position. It is also concerned with people management and factors that shape behaviour in an organisation. Though leadership is often confused with management, a holistic approach is ought to be taken as far as managing change in the organisations is concerned. Failure to put in place measures that are meant to ensure that the organisation positively responds to the changes taking place in the environment may result in unfavourable conditions to the organisation emerging. Against this background, this essay seeks to critically identify and evaluate the major influences on leadership styles and approach on the operations of Google. The essay will begin by giving a very brief description of the organisation in question which will be followed by explaining different key concepts such as leadership, leadership styles as well as management and the extent to which these

Possible risks Essay Example for Free

Possible risks Essay Determination of pregnancy is not certain until the second trimester, at around twenty weeks, when the fetal heart beat can be heard via a fetoscope. Albeit there are presumptive and probable signs associated with pregnancy, like the early morning sickness or the growing size of the abdominal area, these could also be caused by a different pathology. Hence, it can be inevitable for a woman who is not aware of her pregnant state to be exposed to radiation, most especially if she is not aware of her current menstruation cycle. Radiation exposure usually occurs whenever a person is exposed to cosmic rays, external radiation from radioactive ores, internal exposure through radiation therapy given for treatment in cancer patients, and most commonly through diagnostic x-rays. More often than not, pregnant women who are not aware of their pregnant state could have gotten their diagnostic x-rays taken, which is equivalent to receiving 70 millirem. Also, she could have been exposed to other radiation sources, like watching the television and living next door to a power plant. But exposure to radiation can have an acceptable limit of 350 millirems for the pregnant woman. For the pregnant woman, the most critical period wherein the fetus will suffer the most health consequences is when the she is exposed to radiation around two weeks to fifteen weeks gestational age. At two weeks gestational age, if the mother is exposed to a radiation that measures greater than 5 rad or 5000 millirem, a miscarriage can take place or even death inside the womb. If the fetus is exposed to radiation at the gestational age of eight to fifteen weeks, the fetus is to suffer a severe brain damage from the exposure. This can result in lowered intelligent quotients or IQs, mental retardation, stunted growth and other birth defects. Mental retardation is defined as a general developmental disorder characterized by a lower than average intelligence marker and the child is to suffer from limited daily living skills due to limited learning capabilities. Stunted growth in a child will be evidenced by a sluggish growth and development progress, as evidenced by a lower than normal height, weight and even cognitive skills. After this critical period, the two to fifteen weeks of gestational age, the fetus will unlikely suffer from radiation exposure, unless the exposure is extremely large. Only having been exposed to at least five thousand x-rays at one time can give harm to a 16 week old fetus. At 26 weeks gestational age, the fetus cannot be harmed by radiation exposure, and if ever exposed to radiation, the fetus will unlikely suffer serious health consequences. This can be compared to a newborn being exposed to radiation; the chances of having defects are greatly decreased if not invisible already. However, some of the effects of being exposed to radiation cannot readily be seen or manifest in the early life. Studies also show that fetuses are extremely sensitive to the cancer causing effects of radiation exposure; hence this can increase their risks in acquiring cancer later in life. Radiation exposure can be limited, if not avoided. The pregnant woman needs to be aware of her physiological state. She would have to consult all of her diagnostic exams and her workplace to her physician, so that radiation exposure can be prevented early on the pregnancy.

Never The Twain Shall Meet Book Report :: essays research papers

Throughout the ITP program and the lower level ASL classes the name Gallaudet is driven into our heads. We know of the University named after him and how he was the man to bring education to the Deaf in America. What was not before mentioned is that there were two Gallaudets. The first thing I learned from this book is the importance of Thomas Hopkins Gallaudet and his son Edward Miner Gallaudet. I fact I had believed for some time now that E.M. Gallaudet was this extraordinary man that everyone loved and the named a university after him. It is unfortunate that this was not made clearer in the past. Now all I see is a man who took the only path that he knew how to take. E.M. Gallaudet had very little choice but to instruct in the way that he did. It is true that it was ultimately his choice but I believe that nurture is much more powerful than nature. E.M.’s mother was taught sign and communicated in sign to her husband and child. Naturally E.M. would think this is the best method of instruction. To think other wisely would be to say that his mother was inadequate. In turn this would mean that his upbringing was inadequate which would lead to the conclusion that he himself was an inadequate person. For his own salvation and peace of mind E.M. was given his path at birth. For him to have strayed from this would have ended up being a long and lonely road cutting all ties with the past. So E.M. like any normal man of that time chose to follow the path that was set out for him. T.H. Gallaudet was himself a teacher and I am sure passed on many of these traits to his son if not genetically then in his upbringing. It was no surprise to me after finding out that T.H. was himself a teacher that E.M. would be a teacher. This was further specializing in that T.H. was a teacher of the Deaf, which was to be the life long profession for E.M. In the beginning E.M. wanted to be a business man and make lots of money. This is probably attributed to the life he must have had with his father living the lifestyle of a minister. His dreams were of course cut short when his father died.

Analysis of demat account and online trading Essay

The commencement of E-Trading and Demat has transformed the capital market in India. With the help of Demat and Trading account, buying and selling of shares has become a much faster and even process than trading with the assistance of a physical broker. It provides for the assimilation of bank, broker, stock exchange and depository participants. This helps to get rid of the painstaking procedure of investing in stock exchange. Today, if one wants to invest in stock market, he has to contact a broker on phone or meet him personally to place order. A broker generally gives such importance and additional service only to high net worth customers. But the introduction of Internet trading, even a common or a small investor gets an opportunity to avail the service at an affordable price which is much lesser than what is charged by a physical broker over the phone. Online trading has given customer a real time access to account information, stock quotes elaborated market research and interactive trading. The prerequisites of Internet trading are a computer, a modem and a telephone connection, registration with broker, a bank a/c and depository account. The introduction of depository service is considered as the beginning of the trading of Stocks @ click. This means that you can arrange delivery of scrips sold anytime, anywhere to anyone by click of a mouse. Dematerialization facilitates to keep the securities in electronic form instead of paper form. It offers more advantageous than the physical certificate form. Despite the advantages of Dematerialization, the awareness levels among the investors relating to Demat account is not adequate because of numerous reasons. The investors are not sufficiently responsive of the concept of Demat account and the various financial institutions providing such services. Objectives An objective is the brainchild behind any project report. A project report will always have a certain objective which needs to be accomplished. Following are the objectives behind the preparation of my project at Indiabulls securities Ltd. †¢ To Compare Indiabulls Online share trading account with the big players in the Market i.e. ICICI, KARVY, HDFC, RELIENCE MONEY as well as with INDIA INFOLINE †¢ Identify the areas where INDIABULLS Scores above its competitors and what are its weak links. †¢ Know the market potential of INDIABULLS considering the fact that there are many competitors in this field with some more firms expected to join the fray in the near future. This will be done with the help of a questionnaire. Provide suggestions to the company regarding what else it can do to stand apart in this ever competitive field and thereby emerge as a market leader. †¢ To understand the company, its achievements and tasks, products and services and also to collect information about its competitors, its products and services offered. †¢ After understanding and collecting information about the organization and its competitors, a trainee will be able to work well for the organization. †¢ To Study present online share trading Introduction Demat refers to a dematerialized account. Just as we have to open an account with a bank if we want to save your money, make cheque payments etc, we need to open a demat account if we want to buy or sell stocks. So it is just like a bank account where actual money is replaced by shares. We have to approach the DPs (remember, they are like bank branches), to open our demat account. Demat account allows you to buy, sell and transact shares without the endless paperwork and delays. It is also safe, secure and convenient. Let’s say our portfolio has 100 of Satyam, 50of Suzlon, 20 of ICICI BANK, 50 of Tech Mahindra and 100 of TCS shares. All these will show in our demat  account. So we don’t have to possess any physical certificates showing that us own these shares. They are all held electronically in our account. As we buy and sell the shares, they are adjusted in our account. Just like a bank passbook or statement, the DP will provide you with periodic statements of holdings and transactions. Individuals, companies, Trusts, Partnership firms, NRIs, HUF, Banks and Institutions are allowed to open a depository account with any depository through a depository participant. The investor would need to execute a standard form giving all his details, bank details, instruction details, nomination details and off-course photograph and signature. Along with this form, the investor would also have sign an agreement with the depository participant which usually forms a standard part of the account opening process. The details on the form have to be matched with a photocopy of the investor’s passport, driving license etc. to certify the mentioned details. If the investor is an NRI, then the client will have to provide overseas address, provide copy of RBI Approval, if any. The RBI Approval is not mandatory for opening of a DP. Account but is required to receive shares into the account when purchased through the secondary market. Procedure for Purchasing Dematerialized Securities The procedure for purchasing dematerialized securities is also similar to the procedure for buying physical securities. 1. Investor instructs DP to receive credits into his account in the Prescribed form. There may be one time standing instruction or Separate instruction each time to receive credits. 2. Investor purchases securities in any of the stock exchanges linked to Depository through a broker. 3. Broker receives payment from investor and arranges payment to Clearing corporations. 4. Broker gives instructions to DP to debit clearing account and credit Client’s account. Investor receives shares into his account by way of book entry Procedure for Selling Dematerialized Securities The procedure for selling dematerialized securities in stock exchanges is similar as selling physical securities. The only major difference is that instead of delivering physical securities to the broker, the investor instructs his DP to debit his demat account with the number of securities sold by him and credit the brokers clearing account. The procedure for selling dematerialized securities is given below: 1. Investor sells securities in any of the stock exchange linked to depository through a broker. 2. Investor instructs his DP to debit his demat account with the number of securities sold and credit the broker’s clearing account. 3. Before the pay-in-day, broker of the investor transfers the securities to clearing corporation. 4. The broker receives payment from the stock exchange. 5. The investor receives payment from the broker for sale of securities in the same manner as received in case of sale of physical securities. Benefits of Dematerialization Account †¢ Safety : If we are holding our shares, bonds etc in physical (paper) form, there are chances of its theft, mutilation, and loss. Moreover, we are also exposed to the risks of fake papers, bad-delivery or delays at the time of transfer of physical securities. However, in DEMAT accounts; we can preserve our long-term investments safely and securely. †¢ Convenience: When we want to sell our dematerialized shares or redeem our debentures in DEMAT account; there are no hassles of filling up transfer forms, sending redemption requests or any other messy, costly and time-consuming paper work. We can conveniently transfer our securities through electronic transfers or just by signing one ‘Delivery Instruction Slip’, which is nothing but our chequebook for DEMAT Accounts. Reference : www.Indiabulls.com www.Investopedia.com www.powerindiabulls.com www.bseindia.com www.nseindia.com www.moneycontrol.com www.equitymarket.com www.demat.com

Pinnacle Manufacturing Case

Original Work please INTEGRATED CASE APPLICATION –PINNACLE MANUFACTURING: PART II 9-37 (Objectives 9-7, 9-8) In Part I of the case, you performed preliminary analytical procedures for Pinnacle (pp. 245–247). The purpose of Part II is to identify factors influencing risks and the relationship of risks to audit evidence. During the planning phase of the audit, you met with Pinnacle’s management team and performed other planning activities. You encounter the following situations that you believe may be relevant to the audit: 1.Your firm has an employee who reads and saves articles about issues that may affect key clients. You read an article in the file titled, â€Å"EPA Regulations Encouraging Solar-Powered Engines Postponed? † After reading the article, you realize that the regulations management is relying upon to increase sales of this division might not go into effect for at least ten years. A second article is titled, â€Å"Stick to Diesel Pinnacle! â €  The article claims that although Pinnacle has proven itself within the diesel engine industry, they lack the knowledge and people necessary to perform well in the solar-powered engine industry. . You ask management for a tour of the Solar-Electro facilities. While touring the warehouse, you notice a section of solar-powered engines that do not look like the ones advertised on Pinnacle’s Web site. You ask the warehouse manager when those items were first manufactured. He responds by telling you, â€Å"I’m not sure. I’ve been here a year and they were here when I first arrived† 3. You also observe that new computerized manufacturing equipment has been installed at Solar-Electro. The machines have been stamped with the words, â€Å"Product of Welburn Manufacturing, Detroit, Michigan. 4. During a meeting with the facilities director, you learn that the board of directors has decided to raise a significant amount of debt to finance the construction of a new manufacturing plant for the Solar-Electro division. The company also plans to make a considerable investment in modifications to the property on which the plant will be built. 5. While standing in line at a vending machine, you see a Pinnacle vice president wearing a golf shirt with the words â€Å"Todd-Machinery† You are familiar with the company and noticed some of its repairmen working in the plant earlier.You tell the man you like the shirt and he responds by saying, â€Å"Thank you. My wife and I own the company, but we hire people to manage it. † 6. After inquiry of the internal audit team, you realize there is significant turnover in the internal audit department. You conclude the turnover is only present at the higher-level positions. 7. While reviewing Pinnacle’s long-term debt agreements, you identify several restrictive covenants. Two requirements are to keep the current ratio above 2. 0 and debt-to-equity below 1. 0 at all times. 8.While reading the footnotes of the previous year’s financial statements, you note that one customer, Auto-Electro, accounts for nearly 15% of the company’s accounts receivable balance. You investigate this receivable and learn it has been outstanding for several months. 9. The engagement partner from your CPA firm called today notifying you that Brian Sioux, an industry specialist and senior tax manager from the firm’s Ontario office, will be coming on-site to Pinnacle’s facilities to investigate an ongoing dispute between the Internal Revenue Service and Pinnacle. 0. A member of your CPA firm, who is currently on-site in Detroit at the Welburn division, calls you to see how everything is going while you are visiting Solar-Electro in Texas. During your conversation, he asks if you know anything about the recent intercompany loan from Welburn to Solar-Electro. 11. During discussions with the Pinnacle controller, you learn that Pinnacle employees did a significant amoun t of the construction work for a building addition.The controller stated that the work was carefully coordinated with the construction company responsible for the addition. Required a. Identify specific considerations from Parts I and II of the case that affect your assessments of engagement risk and acceptable audit risk. Use each of the three factors in the text to categorize your conclusions: External users’ reliance on financial statements Likelihood of financial difficulties Management integrity As the Independent Auditor I would require from Pinnacle, the client a Management Representation Letter.This is a letter an auditor is required to obtain from management at the conclusion of fieldwork, confirming representations explicitly or implicitly given to the auditor, indicating and documenting the continuing appropriateness of such representations, and reducing the possibility of misunderstanding regarding the representations. b. Assess acceptable audit risk as high, medi um, or low considering the items you identified in requirement a. (A risky client will be assessed as a low acceptable audit risk. I will identify the audit risk as high. c. Identify inherent risks for the audit of Pinnacle using the information from Parts I and II. For each inherent risk, identify the account or accounts that may be affected. (1)Related Parties – A reporting entity’s affiliates, principal owners, and management also, any members of their immediate families. Points of consideration is a Pinnacle VP owning Todd-Machinery, its repair men working at Pinnacle at the time the auditor was at field work, while standing in front of vending machine. 2) While reviewing Pinnacle’s long-term debt agreements, there were several restrictive covenants. Two requirements are to keep the current ratio above 2. 0 and debt-to-equity below 1. 0 at all times. This is an item of consideration of possibilities for Pinnacle to â€Å"cook the books† so as to keep in compliance with covenant. (3) There is a high turnover of employees. After inquiry of the internal audit team, you realize there is significant turnover in the internal audit department. You conclude the turnover is only present at the higher-level positions. 4) While reading the footnotes of the previous year’s financial statements, you note that one customer, Auto-Electro, accounts for nearly 15% of the company’s accounts receivable balance. This receivable and learn it has been outstanding for several months. This is an inherent risk of being a related party transaction wherein goods could be sold to Auto-Electro, a related party, but Pinnacle has not received collection of receivables because this is just to make the financial statements look good as having the sale.Revenue and Inventory accounts are affected. (5)There is an ongoing dispute between Pinnacle and Internal Revenue Service. 10-43 (Objective 10-5) In Parts I and II of this case, you performed prelimi nary analytical procedures and assessed acceptable audit risk and inherent risk for Pinnacle Manufacturing. Your team has been assigned the responsibility of auditing the acquisition and payment cycle and one related balance sheet account, accounts payable.The general approach to be taken will be to reduce assessed control risk to a low level, if possible, for the two main types of transactions affecting accounts payable: acquisitions and cash disbursements. The following are furnished as background information: A summary of key information from the audit of the acquisition and payment cycle and accounts payable in the prior year, which was extracted from the previous audit firm’s audit files (Figure 10-12) A flowchart description of the accounting system and internal controls for the acquisition and payment cycle (Figure 10-13,p. 34)—the flowchart shows that although each of the company’s three divisions has its own receiving department, the purchasing and acco unts payable functions are centralized The purpose of Part III is to obtain an understanding of internal control and assess control risk for Pinnacle Manufacturing’s acquisition and cash disbursement transactions. Required a. Familiarize yourself with the internal control system for acquisitions and cash disbursements by studying the information in Figure 10-12 and Figure 10-13. FIGURE 10-12 Information for Audit of Accounts Payable — Previous Year . Prepare a control risk matrix for acquisitions and a separate one for cash disbursements using Figure 10-5 on page 308 as a guide. A formatted control risk matrix is provided on the textbook Web site. The objectives should be specific transaction-related audit objectives for acquisitions for the first matrix and cash disbursements for the second matrix. See pages 608–612 in Chapter 18 for transaction-related audit objectives for acquisitions and cash disbursements. In doing Part III, the following steps are recommen ded: (1) Controls a.Identify key controls for acquisitions and for cash disbursements. After you decide on the key controls, include each control in one of the two matrices. b. Include a â€Å"C‚† in the matrix in each column for the objective(s) to which each control applies. Several of the controls should satisfy multiple objectives. (2) Deficiencies a. Identify key deficiencies for acquisitions and for cash disbursements. After you decide on the deficiencies, include each significant deficiency or material weakness in the bottom portion of one of the two matrices. Answer:During a meeting with the facilities director, you learn that the board of directors has decided to raise a significant amount of debt to finance the construction of a new manufacturing plant for the Solar-Electro division. The company also plans to make a considerable investment in modifications to the property on which the plant will be built. Auditing Presentation and Disclosure. a. Completeness T he auditor should ensure that all required disclosures related to accounts payable and purchases have been included in the notes to the financial statements. Required disclosures include: 1.Payables by type (trade, officer/ employee, affiliates) and term (short-term and long-term) 2. Purchase contracts and purchase commitments. 3. Related party purchases and payables 4. Expenses by segment b. Valuation, Allocation and Accuracy The auditor should read the footnotes and other information related to accounts payable and purchases to determine whether the information is accurate and presented at the appropriate amounts. c. Rights and Obligations and Occurrence The auditor should compare disclosures to other audit eveidence to ensure that all disclosed information related to accounts payable and purchases has occurred. . Understandability and Classification The auditor should read all accounts payable and purchase related disclosures to ensure that they are understandable. The auditor sh ould determine whether material long-term payables or non-trade payables require separate disclosure. b. Include a â€Å"D‚† in the matrix in each column for the objective(s) to which each significant deficiency or material weakness applies. (3) Assess control risk as high, medium, or low for each objective using your best judgment. Do this for both the acquisitions and cash disbursements matrices.Control risk is to be assessed as high therefore as auditor, I would increase my risk sampling. Expenditure Cycle A. Internal Control- Purchases The following functions in a purchase transaction should be segregated: 1. Purchase Requisition The purchase requisition starts the purchasing cycle. The department in need of the asset or services sends a properly approved, serially numbered requisition to the purchasing department. The requisitioning department should not have the authority to actually place the purchase order. This would indicate a weakness in internal control. 2. Purchase OrdersThe purchasing department should place the order only after giving proper consideration to the time to order and the quantity to order. The purchasing department should also obtain competitive bids from various suppliers to make sure that the best price is obtained. The purchase order is issued only after proper approval. For internal control purposes, it is best that pre-numbered purchase orders can be used. There should be multiple copies that will be sent to: (i) the requisitioning department; (ii) the vendor; (iii) the receiving department; and (iv) the accounting department.If the purchase order is canceled, all copies should be recalled and filed so that every purchase order number is accounted for. 3. Receipt of Goods or Services The copy of the purchase order sent to the receiving department serves as an authorization to accept the goods when they arrive. It is preferable that the copy not indicate the quantity ordered. Thus, the receiving department is forced to count the goods upon arrival. A receiving report is prepared by this department and forwarded to the accounting department. The goods are forwarded to the requisitioning department .B. Internal Control – Accounts Payable The accounting department has three functions: (i) to record the payable, (ii) to approve the invoice for payment; and (iii) to record the payment after it is paid by the Treasurer. 1. Recording the Payable The copy of the purchase order sent to the accounting department notifies them that there will be a future cash disbursement. The receiving report is compared with the purchase order and the vendor’s invoice as to the quantity to prevent payment of charges for goods in excess of those ordered and received.The accounting department records the goods as received in inventory, and records a payable. 2. Approving Invoice for Payment and Recording Payment When the invoice arrives, the accounting department approves it by matching the invoice, purchas e order, receiving report, and (sometimes) the requisition. When payment is made, the payable is reversed. The accounting department should ensure that the invoice amount is correct, and that it accurately reflects any purchase discounts, before approving it for payment. C. Internal Control – Cash DisbursementsIt is best for internal control purposes to pay invoices by check. For effective internal control, the functions of approving the payment and signing the checks should be segregated. Approved voucher packets (matched invoice, purchase order, receiving report, and requisition) prepared by the accounting department (Accounts Payable) are received by the Treasurer, who prepares, signs, and mails the checks and cancels all supporting documents after payment. Paid vouchers are returned to the accounting department for posting of the payment and filing of the documents.

Visas H-1B para profesionales y modelos para USA

Visas H-1B para profesionales y modelos para USA Las visas H-1B permiten a profesionales y modelos trabajar en Estados Unidos. Son visados de doble intencià ³n, es decir, para obtenerlo no es necesario probar la intencià ³n de regresar al paà ­s de origen lo que permite ms fcilmente buscar un cambio hacia una tarjeta de residencia (green card) Quià ©nes pueden solicitar la visa H-1B Este tipo de visa beneficia a tres tipos de actividades laborales   Por un lado, los modelos que tengan una trayectoria profesional de reconocido prestigio. Su visa ser una H-1B3.Adems, pueden aplicar los profesionales como arquitectos, mà ©dicos, maestros etc. En otras palabras, cualquier persona con conocimientos especializados y estudios de tà ­tulo universitario o superiores debidamente validados. Si son aprobados, recibirn una H-1B. Dependiendo de los estados, debern obtener una licencia profesional en su actividad para poder trabajar.Por à ºltimo, las personas con un tà ­tulo universitario equivalente al Bachelor ´s Degree pueden obtener una H-1B2 para desarrollar e investigar proyectos coordinados por el Departamento de Defensa. Patrocinio para una visa H-1B El proceso se inicia cuando una empresa est dispuesta a contratar a un extranjero. Entre la documentacià ³n que debe aportar destaca la Aplicacià ³n de Condicià ³n Laboral (LCA, por sus siglas en inglà ©s). La finalidad es evitar que extranjeros desempeà ±en trabajos para los que hay estadounidenses o residentes permanentes disponibles. Se aplica ante el Departamento del Trabajo. Para obtener la LCA, el empleador debe comunicar a los representantes de los trabajadores la intencià ³n de contratar a un extranjero. Si no hubiera representante sindical, debe anunciarlo dentro de la empresa. Las compaà ±Ãƒ ­as con ms de 50 trabajadores de los que un 15 por ciento tiene una H-1B deber publicar la existencia de la vacante. Para asegurarse de que la contratacià ³n de un extranjero no es ms barata que la de un ciudadano, la empresa debe garantizar al extranjero un salario y beneficios iguales al que ya paga a empleados similares. La à ºnica excepcià ³n a la certificacià ³n laboral es para la H-1B2. Una vez conseguida la LCA, tiene que enviarse junto con un formulario I-129 al USCIS. Si se aprueba, si la persona que va a recibir la visa se encuentra en el extranjero debe solicitar que se le emita a la Embajada correspondiente. Si se encuentra ya en EU puede comenzar a trabajar, pero la primera vez que salga del paà ­s deber ir a la Embajada estadounidense para tener la visa estampada en su pasaporte. Esto muy importante para poder volver entrar a Estados Unidos. Là ­mite de visas H-1B que se aprueban anualmente Cada aà ±o fiscal, que en Estados Unidos comienza el 1 de octubre de cada aà ±o natural, se conceden hasta un mximo de 65,000 H-1B. Una vez que se emite ese nà ºmero, no se concedern ms hasta el siguiente aà ±o fiscal. No estn limitados por ese cupo anual: 1. Los extranjeros que hayan estudiado una maestrà ­a o un doctorado en una universidad estadounidense. Para ellos hay un cupo adicional por aà ±o fiscal de 20,000 visas anuales. 2. Los profesionales cuyos empleadores sean centros de investigacià ³n sin fin de lucro o universidades.   Para los ciudadanos de ciertos paà ­ses se reserva un nà ºmero de H-1B, como el caso de Chile con 1,400 visas. Cundo aplicar Esta informacià ³n sà ³lo es para los casos de visas sujetas a là ­mites anuales. Por lo tanto no aplica a los contratados por instituciones de educacià ³n o investigacià ³n.   El resto de los solicitantes deben saber que cada cupo anual de visas comienza a emitirse a partir del uno de octubre de cada aà ±o, la solicitud puede ser presentada hasta seis meses antes: el 1 de abril. En los à ºltimos aà ±os,   el nà ºmero de aplicaciones es tan alto que se excede el là ­mite los primeros dà ­as de abril. Cuando asà ­ sucede, se realiza una loterà ­a para ver quà © solicitudes son tramitadas. Quà © empresas pueden patrocinar una visa H-1B Cualquiera que cumpla los requisitos, desde las ms grades a las ms chicas. Y aunque es cierto que la mayorà ­a de esas visas se van al sector tecnolà ³gico, nada impide que se utilicen en otros campos. Por ejemplo, es muy frecuente que tambià ©n se dà © en Educacià ³n y en Sanidad. Para mejor hacerse una idea es recomendable consultar cules son las 100 empresas que ms H-1B patrocinan, para quà © sectores y cul es el salario medio que ofrecen a los patrocinados.   Demora de los trmites para la visa En este artà ­culo se puede aprender a calcular las demoras para todo tipo de trmites migratorios. En el caso de la H-1B, para conocer los tiempos del PERM (DoL por sus siglas en inglà ©s), USICS y, finalmente, consulado. En la actualidad  no se puede solicitar aplicacià ³n exprà ©s de la visa H-1B  por decisià ³n del gobierno del presidente Donald Trump. Vigencia de la visa H-1B La H-1B se otorga por tres aà ±os que se pueden prorrogar hasta un total de seis y para los titulares de una H1-B2 hasta diez. Pero existen excepciones que permiten mantener la visa por ms tiempo: 1. Hasta tres extensiones de un aà ±o o una por tres aà ±os cuando el titular de la visa ha solicitado un cambio de estatus y ha presentado el formulario I-140 antes de cumplir su quinto aà ±o y est pendiente de una respuesta. 2. Una extensià ³n por tres aà ±os si el ajuste de estatus ha sido concedido pero se debe esperar a que haya cupo disponible. La disponibilidad puede tardar varios aà ±os y depende del paà ­s de origen del solicitante y de la categorà ­a por la que pide el cambio de estatus. Coste de la visa H-1B Varà ­a entre $1,000 y $5,000, dependiendo del tipo de empresa que solicita la visa, si se utiliza abogado. Generalmente paga la empresa pero se conocen casos en los que paga el trabajador. Estas son las tarifas promedio de que cobran los abogados de inmigracià ³n. Vida en EU con una H-1B Para conservar la H-1B el titular debe trabajar sà ³lo para el empresario que ha patrocinado su visa. Se pagan impuestos. El rà ©gimen fiscal puede ser complejo ya que se puede tener un estatus fiscal de extranjero residente o de extranjero no residente por lo que es frecuente recurrir a un fiscalista experto. En todas las nà ³minas se deducen cantidades para Medicare y Seguridad Social. Si el extranjero trabaja ms de diez aà ±os en EU tendr derecho a beneficiarse de esos pagos realizados a la Seguridad Social. Si trabaja menos, dependiendo si su paà ­s tiene o no un tratado bilateral con USA, podr contabilizar los aà ±os cotizados aquà ­. El cà ³nyuge y los hijos solteros menores de 21 aà ±os pueden vivir en USA con una visa H-4. Si los nià ±os estn estudiando la primaria o la secundaria es recomendable familiarizarse antes de llegar a Estados Unidos con las particularidades del sistema educativo, para asà ­ tomar la mejor decisià ³n sobre quà © tipo de escuela elegir para los muchachos. Como regla general los esposos con H-4 no pueden trabajar, con dos excepciones que aplican desde mayor de 2015. Por à ºltimo, se deber comunicar al USCIS el cambio de domicilio en los diez dà ­as siguientes a producirse. Cambio de estatus, transfer, dimisià ³n, despido y caducidad Puede solicitarse un cambio de estatus para obtener una tarjeta de residencia permanente. Tambià ©n puede cambiar su visa a otra diferente, como por ejemplo, a una visa de estudiante. Tambià ©n se  puede pedir un transfer a otra empresa, que tiene que ser aprobado. Si el trabajador dimite, su visa pierde vigencia y debe salir del paà ­s. Si es despedido, la empresa debe pagar por los gastos de repatriacià ³n. La salida debe ser inmediata.   A veces no es posible, pero para no arriesgarse a quedarse como indocumentado se recomienda solicitar una visa de visitante y asà ­ se cuenta con hasta un mximo de 120 dà ­as, mientras la nueva visa se tramita, para prepararse para regresar al paà ­s de origen sin perder el estatus de legal. Para mayor informacià ³n consultar este artà ­culo para saber cundo es posible ingresar a Estados Unidos con una visa de esta categorà ­a y cul es el periodo de gracia, una vez que finaliza el empleo. Creacià ³n de una empresa y la H-1B En principio es posible fundar una empresa en USA y que la compaà ±Ãƒ ­a patrocine con una H-1B a su propietario. Sin embargo, debido a las condiciones de la visa, entre otras, el salario alto que se debe de pagar a los patrocinados, es una opcià ³n complicada y en la que siempre conviene contar con el asesoramiento de un buen abogado de inmigracià ³n. De hecho, estas son otras 8  opciones para obtener una visa y fundar una empresa en EEUU. Alternativa a la H-1B para profesionales mexicanos Mexicanos y canadienses pueden aplicar por la visa TN. Estas son las ms de 60 profesiones que permiten calificar. Te puede interesar Estas son las 30  profesiones que tendrn un mayor crecimiento en la demanda de empleo hasta el aà ±o 2022,  Ã‚  segà ºn el Departamento de Trabajo y tambià ©n un comparativo  salarial de 18 profesiones en 8 paà ­ses. Y es que no para todas las profesiones es Estados Unidos el mejor paà ­s para trabajar. Este es un artà ­culo informativo. No es asesorà ­a legal.

False Cognates are Faux Amis Who May Not Be Welcome

False Cognates are Faux Amis Who May Not Be Welcome In English and Romance languages like French, many words have the same roots, they look identical or very similar, and they share the same meaning. Thats a wonderful convenience to the student of either language. However, there are also a great many faux amis (false friends), that are  false cognates.  These are words that look identical or similar in both languages, but they have completely different meanings- a  pitfall for English-speaking students of French. A Pitfall for Students There are also semi-false cognates: words that sometimes, but not always, share the same meaning as the similar-looking word in another language.  Semi-false cognates are words that don’t look exactly the same, but they’re similar enough to cause confusion.   The  list of French-English false cognates below includes both false cognates and semi-false cognates, and the meaning of each word. To avoid confusion, weve added (F) for French and (E) for English to the titles. There are hundreds of false cognates between French and English. Here are few to get you started. Faux Amis and Semi-Faux Amis Ancien  (F)  vs. ancient (E)Ancien (F)  commonly means former, as in lancien maire  (the former mayor), although it can also mean ancient as in English  in certain contexts that discuss, for instance, very old civilizations. Attendre  (F)  vs. attend (E)Attendre means to wait for and its in one of the most common French phrases:  Je t’attends  (Im waiting for you). The English attend, of course, though similar in appearance means to take part in or to go to some event, such as a meeting or a concert. Bra  (F)  vs. bra  (E) The French bra  (F) is a limb on the human body and the opposite of jambe (leg). A bra (E) in English is, of course, a female undergarment, but the French call this garment, appropriately, a support (un soutien-gorge). Brasserie (F)  vs. brassiere (E)A French brasserie is an institution in France, a place, much like the British pub, where youd find a bar that serves meals, or a brewery. No connection to the female undergarment in the English word brassiere, of which bra  is the abbreviated form. Blessà © (F) vs. Blessed (E)If someone is blessà ©Ã‚  in France, they are wounded, emotionally or physically. This is far from the English blessed, which can apply to a religious sacrament or just great luck. Bouton (F) vs. button  (E)Bouton does  mean button in French, as it does in English, but  a French  bouton  can also refer to that bane of the teenage years: a  pimple.   Confection (F) vs. confection (E)La confection (F) refers to the making or preparing of clothing, a device, a meal, and more. It can also refer to the clothing industry. An English  confection  (E) is a class of food thats sweet, something thats made in a bakery or candy shop. Exposition (F) vs. exposition (E)Une exposition (F) can refer to an exposition of facts, as well as to an exhibition or show, the aspect of a building, or exposure to heat or radiation.  An English exposition is a commentary or or an essay developing a point of view. Grand  (F) vs. grand (E)Grand is a very, very common French word for big, but there are times it refers to something or someone great, such as un grand homme  or a grand-pà ¨re.  When it describes a person’s physical appearance, it means tall. Grand in English commonly refers to a special human being, thing, or place of notable achievement. Implantation (F) vs. implantation (E)Une implantation  is the introduction or setting up of a new method or industry, a settlement, or a companys presence in a country or region. Medically, the French terms means implantation (of an organ or embryo). An English implantation is an implantation only in the sense of an introduction or setting up or in the medical sense. Justesse (F) vs justice (E)French justesse  is all about exactness, accuracy, correctness, soundness, and the like. If something is juste, it is corect. The English justice  refers to what we expect when the rule of law prevails: justice. Librairie  (F) vs. Library (E)These two terms are  often confused, and  they are true  faux amis. Books are involved in both, but  une librairie  is where you go to purchase a book: a bookshop or newsstand. Your local library is  une bibliothà ¨que in France,  or these days  it may be part of  a  mà ©diathà ¨que.  The English library is, of course, where you borrow books. Location  (F) vs. location  (E)  There are miles between these two meanings.  A French location  is a rental, and youll often see ads for  Ã¢â‚¬Å"les meilleures locations  de vacances,† meaning â€Å"the best holiday rentals.†Ã‚  Location is the physical spot where something like a building lives, you know: location, location, location, which can be important in finding a French location. Monnaie  (F) vs. money (E)Monnaie  for the French is the loose change jingling in your pocket or weighing down your handbag. People at the checkout who say they have no  monnaie  dont have the right change. English money is all of it, both change and bills. Vicieux (F) vs. vicious (E)The French term  vicieux (F) gives us pause because its what you call someone perverted, depraved, or nasty. In English, the vicious person is brutal, but not quite so nasty as a  vicieux in French.

SWOT Analysis and NPV Assignment Example | Topics and Well Written Essays - 750 words

SWOT Analysis and NPV - Assignment Example A SWOT analysis is performed in relation to the same. Strengths: The past and project revenue collection as well as the consistently positive cash flows show availability of funds to spend. With the new markets offering immense potential, there is a high likelihood that the company is destined for even much better performance. The strong growth in assets also gives the company a strong pillar in its endeavor to expand. Weaknesses: Not having previously ventured in any foreign market, there is lacking experience in terms of going global. Additionally, new markets mean new tax regimes which could potentially hamper the company’s revenues. Threats: New market always comes with uncertainty, mainly driven by unfamiliar legal and political landscapes. Additionally, there are many legal constraints and political pitfalls associated with foreign investment. These could potentially impede such an entry. Additionally, investment in a new venture can be suicidal and hence it is advisable to do it through an existing company. From the financial stand point, the company’s intended expansion stands at an advantageous position. The past and projected asset growth, revenues expected cash flow and a favorable NPV all stand in favor of the proposed business

Developmental Difficulties and Young Offenders Essay

Developmental Difficulties and Young Offenders - Essay Example As the review is based entirely upon research, we would examine each issue in the light of scientific findings supported by well-known theorists. In the end the evaluative findings would be summarised by a brief conclusion. In order to measure the depth of psychological influence on young offenders, it would be a mistake if we lag behind in considering the developmental changes that indulge young children into several difficulties, which reveal only when they become offenders. These difficulties having more to do with psychology, and the issues, which are related to it, are psychiatric disorders escorting towards bullying, crime, depression and suicidal behaviour, take place mostly between the ages of 12 to 25 years. If we analyse the stages of development according to Freud's theory, he believed the early years of life to be the most crucial determinants of personality formation and that every child passes through defined stages of development, each of which is dynamically different. So Freud felt that each of us must successfully negotiate these stages of development. If we fail, personality difficulties of various degrees are likely to appear. Piaget's theory advocates children's understanding of right and... Lawrence Kohlberg borrowed Piaget's two stages of moral reasoning into three developmental levels. Level 1, 'Preconventional Morality' refers those youngsters who avoid punishment and do things for the sake of their own personal gain, the second level 'conventional morality' is the level of reasoning in which right and wrong are defined by conformity to law and moral rules while third and highest level 'post conventional morality' refers to those who allow moral rules to be changed or broken for the sake of higher order moral principles. So it is clear that young offenders uphold in the third category where their perception allows everything fair and morally right for them. Kohlberg's theory distinguishes between "what is right" and "why do right" and research suggests that such offending attitude lies in between 'what' and 'why'. Piaget's theory depicts cognitive development from infancy to childhood as a series of four stages, each characterised by distinctive modes of thoughts that differ qualitatively from thinking in earlier and later stages. It is from those distinctive thoughts we can visualise each and every child reacts in a different manner to different circumstances. Some children perceives an offending attitude when they are subjected towards negligence and are sensitive while others not. So, it is very easy to associate youth with offending attitude but according to researchers to highlight the major aspects behind the scene is probably a difficult task. The concern is not the young offenders but the difficulties they are confronted to and the reasons behind such attitude is the major task, which is often neglected by us. According to Inhelder and Piaget the main area to be emphasised upon is the psychological