Google.com Essay -- Technology, Vulnerabilities

Three famous real-world examples of first-order XSS vulnerabilities were discovered in Google.com [36], CBS News [37] and in ATutor [38]. In 2005 Google.com website had XSS vulnerabilities that allowed attackers to impersonate legitimate subscribers of Google’s services. Then, in 2006 CBS News published an official announcement claiming that President Bush appointed a nine-year old boy to be the chairperson of the InfoSec Department. This was obviously a fake news. Recently, an XSS vulnerability was discovered in ATutor that allowed scripts to be injected into nearly every URL request parameter that eventually resulted in the result page to include the malicious scripts. 2.5.2 Stored XSS Stored XSS (aka Persistent or Type 2 or Second-Order) [32, 34, 35] occurs when a vulnerable Web application accepts malicious code, stores it and later distributes it in response to a separate HTTP request. In contrast to reflected XSS, Type 2 XSS rather than getting immediately reflected to the user, the attack payload is stored (in a database or in file system) and displayed to end-users in...

Beowulf: Changes In People :: Epic of Beowulf Essays

The tale of Beowulf is one of constant tranformation. Great warriors and leaders turn into cowering peons. Faithful Christians convert to devil worship. Devout followers flee at the sight of trouble. Many people's morals change quickly and drastically at the sight of change. Personal turmoil abounds with changing values brought by changing times. People remain content as long as nothing challenges them, but at the first sight of change chaos occurs. One case of how change causes people to forsake their values happens when Grendel makes his first appearance at Herot. In Herot lives Hrothgar who "...led/ The Danes to such glory that comrades and kinsmen/ Swore by his sword, and young men swelled ( Beowulf lines 64-67). Hrothgar is a mighty leader of the Danes, but at the sight of a different foe, a change, Hrothgar turns tail and runs. He does not once try to face Grendel. He instead lets his people live in terror. The Hrothgar that is described before the arrival of Grendal is a completely different person, mentally, than the Hrothgar that is terrorized by the monster. He knows only one type of enemy, humans, and once that changes he loses all his leadership power. A true man of value will keep his values no matter what change takes place. Fate does not play a role in Hrothgar's actions. He is caught up in pride about all his achievements. This makes him weak to being caught by change. He beomes so comfortable in his station that he narrows his comfort zone to such a level that any amount of change will throw him off. Everything that happens is by his own accord. Hrothgar is a perfect example of how people cannot mentally fight evil. Without the constant attack of evil, one will not be able to deal with it when it arises. Hrothgar is not exposed to evil, so when it rears its ugly head his only reaction is to flee. If someone lives in a utopia and leaves, they will not be able to deal with the evil they find because they have never dealt with it before. Good cannot combat evil if it has never known evil. The only way to resolve Hrothgar's situation is to bring in someone who knows evil and faces it well, is not prideful, and can adapt to change well. In the tale, that is exactly how the problem is solved.

Islams Appeal Essay -- Islam Middle East Islamic Essays History

Islam's Appeal Islam revolutionized the way people thought in the Middle-East. The Prophet spewed forth â€Å"The Word of God† (Cleveland 8) amid reflection, whether his own or that of God, concerning â€Å"the problems which afflicted Meccan society† (8). The subsequent production of the Quran fostered discipline and promoted spiritual growth. Mohammad, under the banner of Islam, united nomadic, feuding tribes in the barren plains of Arabia. The Seal of Prophets brought new rights to women and renewed a commitment to aid the destitute. All Muhammad’s revelations brought welcome change. One thousand years later, the message has not changed in any significant respect. One-time innovation was Islam’s blessing- but is now its curse. In my opinion, steadfast refusal of the ulama reduces the overall appeal of Islam. Sometime in the tenth century, the ulama shut the door on modernization by halting the modification of the shari’ah. Beforehand, the academic community was able to make additions to Islamic law through consensus, or ijma (30). Some three hundred years after the foundation of t...

Income Tax

History Income tax levels in India were very high during 1950-1980, in 1970-71 there were 11 tax slabs with highest tax rate being 93. 5% including surcharges. In 1973-74 highest rate was 97. 5%. But to reduce tax evasion tax rates were reduced later on, by â€Å"1992-93† maximum tax rates were reduced to 40%. [2][3] [edit]Residential status, Scope of taxable income & Charge [edit]Charge to Income-taxWhose income exceeds the maximum amount, which is not chargeable to the income tax, is an assesse, and shall be chargeable to the income tax at the rate or rates prescribed under the finance act for the relevant assessment year, shall be determined on basis of his residential status. Income tax is a tax payable, at the rate enacted by the Union Budget (Finance Act) for every Assessment Year, on the Total Income earned in the Previous Year by every Person. The chargeability is based on nature of income, i. e. , whether it is revenue or capital.The rates of taxation of income are-: Income Tax Rates/Slabs Rate (%) (applicable for assessment year 2013-14) Net income range (For resident woman below 60 years on the last day of the previous year)Net income range (For resident senior citizen1)Net income range (For super senior citizen2)Net income range (For any other person excluding companies and co-operative societies)Income Tax rates3 Up to Rs. 200000Up to Rs. 250000Up to Rs. 500000Up to Rs. 200000Nil Rs. 200001-500000Rs. 250001-500000-Rs. 200001-50000010% Rs. 500001-1000000Rs. 500001-1000000Rs. 00001-1000000Rs. 500001-100000020% Above Rs. 1000000Above Rs. 1000000Above Rs. 1000000Above Rs. 100000030% ^1 Senior citizen is one who is 60 years or more at any time during the previous year but not more than 80 years on the last day of the previous year. ^2 Super senior citizen is one who is 80 years or more at any time during the previous year. ^3 Surcharge isn't applicable for any person excluding companies whose taxable income exceed Rs. 1 crore. Education cess at 2 % and Secondary and higher education cess at 1% of income-tax applicable for all person.These slab-rates aren't applicable for the incomes which are to be taxed at special rates under section 111A, 112, 115, 161, 164 and 167. For instance, long-term capital gains (except the one mentioned in section 10(38))for all assessees is taxable at 20%. [edit]Residential Status The residential status of the assessee is useful in determining the scope or chargeability of the income for the assessee, i. e, whether taxable or not. For an individual person, to be a resident, any one of the following basic conditions must be satisfied:- Presence of at least 182 days in India during the previous year.Presence of at least 60 days in India during the previous year and 365 days during 4 years immediately preceding the relevant previous year. However, in case the individual is an Indian citizen who leaves India during the previous year for the purpose of employment (or as a member of a crew of an Indian ship) or in case the individual is a person of Indian origin who comes on a visit to India during the previous year, then only the first of the above basic condition is applicable.To determine whether the resident individual is ordinarily resident the following both additional conditions are to be satisfied:- Resident in India in at least 2 out of 10 years immediately preceding the relevant previous year. Presence of at least 730 days in India during 7 years immediately preceding the relevant previous year. If the individual resident satisfies only one or none of the additional conditions, then he is not ordinarily resident. In case the person is not an individual or an HUF, then the residential status can only be either resident or non-resident) [edit]Residential status of a person other than an individual Type of personControl & management of affairs of the taxpayer is wholly in IndiaControl & management of affairs of the taxpayer is wholly outside IndiaControl & management of af fairs of the taxpayer is partly in India partly outside India HUF1ResidentNon-residentResident FirmResidentNon-residentResident Association of personsResidentNon-residentResident Indian company2ResidentResidentResidentForeign company3ResidentNon-residentNon-resident Any other person except an individualResidentNon-residentResident ^1 After determining whether an HUF is resident or non-resident, the additional conditions (as laid down for an individual) should be checked for the karta to determine whether the HUF is ordinary or not-ordinary resident. ^2 An Indian company is the one which satisfies the conditions as laid down under section 2(26) of the Act. ^3 Foreign company is the one which satisfies the conditions as laid down under section 2(23A) of the Act. [edit]Scope of total incomeIndian income1 is always taxable in India notwithstanding residential status of the taxpayer. Foreign income1 is not taxable in the hands of a non-resident in India. For resident (in case of firm, as sociation of persons, company and every other person) or resident & ordinarily resident (in case of an individual or an HUF), foreign income is always taxable. For resident but not ordinarily resident foreign income is taxable only if it is business income and business is controlled wholly or partly in India or it is a professional income and profession is set up in India. 1 Foreign income is the one which satisfies both the following conditions:- Income is not received (or not deemed to be received under section 7) in India, and Income doesn't accrue (or doesn't deemed to be accrued under section 9) in India. If such an income satisfies one or none the above conditions then it is an Indian income. [edit]Heads of Income The total income of a person is segregated into five heads:- Income from Salary Income from house property Income from business or profession Capital Gain and Income from other sources [edit]Income from SalaryAll income received as salary under Employer-Employee rela tionship is taxed under this head, on due or receipt basis, whichever arises earlier. Employers must withhold tax compulsorily (subject to Section 192), if income exceeds minimum exemption limit, as Tax Deducted at Source (TDS), and provide their employees with a Form 16 which shows the tax deductions and net paid income. The Act contains exemptions including (the list isn't exhaustive):- ParticularsRelevant section for computing exemption Leave travel concession10(5) Death-cum-Retirement Gratuity10(10)Commuted value of Pension (not taxable for specified Government employees)10(10A) Leave encashment10(10AA) Retrenchment Compensation10(10B) Compensation received at time of Voluntary Retirement10(10C) Tax on perquisite paid by employer10(10CC) Amount received from Superannuation Fund to legal heirs of employee10(13) House Rent Allowance10(13A) Some Special Allowances10(14) The Act contains list of Perquisites which are always taxable in all cases and a list of Perquisites which are ex empt in all cases (List I). All other Perquisites are to be calculated according to specified provision and rules for each.Only two deductions are allowed under Section 16, viz. Professional Tax and Entertainment Allowance (the latter only available for specified government employees). [edit]Income from House property Income under this head is taxable if the assessee is the owner of a property consisting of building or land appurtenant thereto and is not used by him for his business or professional purpose. An individual or an Hindu Undivided Family (HUF) is eligible to claim any one property as Self-occupied if it is used for own or family's residential purpose.In that case, the Net Annual Value (as explained below) will be nil. Such a benefit can only be claimed for one house property. However, the individual (or HUF) will still be entitled to to claim Interest on borrowed capital as deduction under section 24, subject to some conditions. In the case of a self occupied house deduc tion on account of interest on borrowed capital is subject to a maximum limit of Rs. 1,50,000 (if loan is taken on or after 1 April 1999 and construction is completed within 3 years) and Rs. 30,000 (if the loan is taken before 1 April 1999).For let-out property, all interest is deductible, with no upper limits. The balance is added to taxable income. The computation of income from let-out property is as under:- Gross Annual Value (GAV)1xxxx Less:Municipal Taxes paid(xxx) Net Annual Value (NAV)xxxx Less:Deductions under section 242(xxx) Income from House propertyxxxx ^1 The GAV is higher of Annual Letting Value (ALV) and Actual rent received/receivable during the year. The ALV is higher of fair rent and municipal value, but restricted to standard rent fixed by Rent Control Act. 2 Only two deductions are allowed under this heaad by virtue of section 24, viz. , 30% of Net annual value as Standard deduction Interest on capital borrowed for the purpose of acquisition, construction, repai rs, renewals or reconstruction of property (subject to certain provisions).Income from Business or Profession The income referred to in section 28, i. e. , the incomes chargeable as â€Å"Income from Business or Profession† shall be computed in accordance with the provisions contained in sections 30 to 43D. However, there are few more sections under this Chapter, viz. Sections 44 to 44DA (except sections 44AA, 44AB & 44C), which contain the computation completely within itself. Section 44C is a disallowance provision in the case non-residents. Section 44AA deals with maintenance of books and section 44AB deals with audit of accounts. In summary, the sections relating to computation of business income can be grouped as under: – Specific deductionsSections 30 to 37 cover expenses which are expressly allowed as deduction while computing business income. Specific disallowanceSections 40, 40A and 43B cover inadmissible expenses.Deemed IncomesSections 33AB, 33ABA, 33AC, 35A, 35ABB, 41. Special provisionsSections 42, 43C, 43D, 44, 44A, 44B, 44BB, 44BBA, 44BBB, 44DA, 44DB. Presumptive IncomeSections 44AD, 44AE. The computation of income under the head â€Å"Profits and Gains of Business or Profession† depends on the particulars and information available. [4] If regular books of accounts are not maintained, then the computation would be as under: – Income (including Deemed Incomes) chargeable as income under this head xxx Less: Expenses deductible (net of disallowances) under this ead xxx Profits and Gains of Business or Profession xxx However, if regular books of accounts have been maintained and Profit and Loss Account has been prepared, then the computation would be as under: –Net Profit as per Profit and Loss Account xxx Add : Inadmissible Expenses debited to Profit and Loss Account xxx Deemed Incomes not credited to Profit and Loss Account xxx xxx Less: Deductible Expenses not debited to Profit and Loss Account xxx Incomes charge able under other heads credited to Profit & Loss A/c xxx xxx Profits and Gains of Business or Profession xxx [edit]Income from Capital Gains Transfer of capital assets results in capital gains. A Capital asset is defined under section 2(14) of the I. T. Act, 1961 as property of any kind held by an assessee such as real estate, equity shares, bonds, jewellery, paintings, art etc. but does not include some items like any stock-in-trade for businesses and personal effects. Transfer has been defined under section 2(47) to include sale, exchange, relinquishment of asset extinguishment of rights in an asset, etc. Certain transactions are not regarded as ‘Transfer' under section 47. Computation of Capital Gains:- Full value of consideration1xxx Less:Cost of acquisition2(xx)Less:Cost of improvement2(xx) Less:Expenditure pertaining to transfer incurred by the transferor(xx) ^1 In case of transfer of land or building, if sale consideration is less than the stamp duty valuation, then suc h stamp duty value shall be taken as full value of consideration by virtue of Section 50C. The transferor is entitled to challenge the stamp duty valuation before the Assessing Officer. ^2 Cost of acquisition & cost of improvement shall be indexed in case the capital asset is long term. For tax purposes, there are two types of capital assets: Long term and short term. Transfer of long term assets gives rise to long term capital gains.The benefit of indexation is available only for long term capital assets. If the period of holding is more than 36 months, the capital asset is long term, otherwise it is short term. However, in the below mentioned cases, the capital asset held for more than 12 months will be treated as long term:- Any share in any company Government securities Listed debentures Units of UTI or mutual fund, and Zero-coupon bond Also, in certain cases, indexation benefit is not be available even though the capital asset is long term. Such cases include depreciable asset (Section 50), Slump Sale (Section 50B), Bonds/debentures (other than capital indexed bonds) and certain other express provisions in the Act.There are different scheme of taxation of long term capital gains. These are: As per Section 10(38) of Income Tax Act, 1961 long term capital gains on shares or securities or mutual funds on which Securities Transaction Tax (STT) has been deducted and paid, no tax is payable. STT has been applied on all stock market transactions since October 2004 but does not apply to off-market transactions and company buybacks; therefore, the higher capital gains taxes will apply to such transactions where STT is not paid. In case of other shares and securities, person has an option to either index costs to inflation and pay 20% of indexed gains, or pay 10% of non indexed gains.The cost inflation index rates are released by the I-T department each year. In case of all other long term capital gains, indexation benefit is available and tax rate is 20%. All capi tal gains that are not long term are short term capital gains, which are taxed as such: Under section 111A, for shares or mutual funds where STT is paid, tax rate is 10% from Assessment Year (AY) 2005-06 as per Finance Act 2004. With effect from AY 2009-10 the tax rate is 15%. In all other cases, it is part of gross total income and normal tax rate is applicable. For companies abroad, the tax liability is 20% of such gains suitably indexed (since STT is not paid).Besides exemptions under section 10(33), 10(37) & 10(38) certain specific exemptions are available under section 54, 54B, 54D, 54EC, 54F, 54G & 54GA. [edit]Income from Other Sources This is a residual head, under this head income which does not meet criteria to go to other heads is taxed. There are also some specific incomes which are to be always taxed under this head. Income by way of Dividends. Income from horse races/lotteries. Employees' contribution towards staff welfare scheme. Interest on securities (debentures, Gov ernment securities and bonds). Any amount received from keyman insurance policy as donation. Gifts (subject to certain conditions and exemptions). Interest on compensation/enhanced compensation. edit]Permissible deductions from Gross Total Income This section requires expansion. (November 2012) While exemptions is on income some deduction in calculation of taxable income is allowed for certain payments given under Chapter VI-A ie. , sections 80C to 80U. [edit]Section 80C Deductions Section 80C of the Income Tax Act [1] allows certain investments and expenditure to be deducted from total income up to the maximum of 1 lac. The total limit under this section is ? 100,000 ) which can be any combination of the below: Contribution to Provident Fund or Public Provident Fund. PPF provides 8. 8% [5] return compounded annually. Maximum limit to contribute in it is 100,000 for each year.It is a long term investment with complete withdrawal not possible till 15 years though partial withdrawal i s possible after 5 years. The interest earned on PPF investments is not taxable. Besides, there is employee providend fund which is deducted from the salary of the person. This is about 10% to 12% of the BASIC salary component. Recent changes are being discussed regarding reducing the instances of withdrawal from EPF especially when one changes the job. EPF has the option of full settlement on leaving the job, taking VRS, retirement after 58. It also has options of withdrawal for certain expenses related to home, marriage or medical. EPF contribution includes 12% of basic salary from employee and employer. It is distributed in ratio of 8. 33:3. 7 in Pension fund and Providend fund Payment of life insurance premium. It is allowed on premium paid on self, spouse and children even if they are not dependent on father or mother. Investment in pension Plans. National Pension Scheme is meant to save money for the post retirement which invests money in different combination of equity and de bt. depending upon age up to 50% can go in equity. Annuity payable after retirement is dependent upon age. NPS has six fund managers. Individual can make minimum contribution of Rs6000/- . It has 22 point of purchase (banks). Investment in Equity Linked Savings schemes (ELSS) of mutual funds. Among other investment opportunities, ELSS has the least lock-in period of 3 years.However, one should note that after the Direct Tax Code is in place, ELSS will no longer be an investment for 80C deduction. Investment in National Savings Certificates (interest of past NSCs is reinvested every year and can be added to the Section 80 limit) Tax saving Fixed Deposits provided by banks for a tenure of 5 years. Interest is also taxable. Payments towards principal repayment of housing loans. Also any registration fee or stamp duty paid. Payments towards tuition fees for children to any school or college or university or similar institution (Only for 2 children) Post office investments The investment can be from any source and not necessarily from income chargeable to tax. edit]Section 80CCF: Investment in Infrastructure Bonds From April, 1 2011, a maximum of ? 20,000 is deductible under section 80CCF provided that amount is invested in infrastructure bonds. This is in addition to the 100,000 deduction allowed under Section 80C. However this deduction has not been extended to Financial year 2012-13. [6] Omiitted with effect from F. Y. 2012-13. [edit]Section 80D: Medical Insurance Premiums Health insurance, popularly known as Mediclaim Policies, provides a deduction of up to 35,000. 00 (? 15,000. 00 for premium payments towards policies on self, spouse and children and ? 15,000. 00 for premium payment towards non-senior citizen dependent parents or ? 20,000. 0 for premium payment towards senior citizen dependent). This deduction is in addition to ? 1,00,000 savings under IT deductions clause 80C. For consideration under a senior citizen category, the incumbent's age should be 60 years during any part of the current fiscal, e. g. for the fiscal year 2010-11, the incumbent should already be 60 as on March 31, 2011), This deduction is also applicable to the cheques paid by proprietor firm. [edit]Interest on Housing Loans Section For self occupied properties, interest paid on a housing loan up to Rs 150,000 per year is exempt from tax. This deduction is in addition to the deductions under sections 80C, 80CCF and 80D.However, this is only applicable for a residence constructed within three financial years after the loan is taken and also the loan if taken after April 1, 1999. If the house is not occupied due to employment, the house will be considered self occupied. For let out properties, the entire interest paid is deductible under section 24 of the Income Tax act. However, the rent is to be shown as income from such properties. 30% of rent received and municipal taxes paid are available for deduction of tax. The losses from all properties shall be allowed to be adjusted against salary income at the source itself. Therefore, refund claims of T. D. S. deducted in excess, on this count, will no more be necessary. 7] [edit]Section 80DDB : Deduction in respect of Medical Treatment, etc Deduction is allowed to resident individual or HUF in respect of expenditure actually during the PY incurred for the medical treatment of specified disease or ailment as specified in the rules 11DD for himself or a dependent relative or a member of a HUF[8] [edit]Refund Status State Bank of India (SBI) is the refund banker to the Indian Income Tax Department(ITD). Your tax refund details are sent to SBI, by the Income tax department. Then SBI will process the refund, and send you the refund intimation. While filing your return you can choose any one of the two Refund modes ECS or Paper(cheque). The refund status can be checked online at the NSDL site. [edit]Due Date of submission of returnThe due date of submission of return shall be ascertained according to section 139(1) of the Act as under:- September 30 of the Assessment Year(AY)-If the assessee is a company (not having any inter-nation transaction), or -If the assessee is any person other than a company whose books of accounts are required to be audited under any law, or -If the assessee is a working partner in a firm whose books of accounts are required to be audited under any law. November 30 of the AYIf the assessee is a company and it is required to furnish report under section 92E pertaining to international transactions. July 31 of the AYIn any other case. [edit]Advance Tax Under this scheme, every assessee is required to pay tax in a particular financial year, preceding the assessment year, on an estimated basis. However, if such estimated income is less than Rs. 10000, then no advance tax is payable. The due dates of payment of advance tax are:- In case of corporate assesseeOtherwiseOn or before 15 June of the previous yearUpto 15% of advance tax payable- On or before 15 Se ptember of the previous yearUpto 45% of advance tax payableUpto 30% of advance tax payable On or before 15 December of the previous yearUpto 75% of advance tax payableUpto 60% of advance tax payable On or before 15 March of the previous yearUpto 100% of advance tax payableUpto 100% of advance tax payable Any default in payment of advance tax attracts penalty under section 234B and any deferment of advance tax attracts penalty under section 234C. [edit]Tax deducted at Source (TDS) The general rule is that the total income of an assessee for the previous year is taxable in the relevant assessment year. however income-tax is recovered from the assessee in the previous year itself by way of TDS.The relevant provisions therein are listed below. (To be used for reference only. The detailed provisions therein are not listed below. 1) SectionNature of paymentThreshold limit (upto which no tax is deductible)TDS to be deducted 192Salary to any personExemption limitAs specified for individual in Part III of I Schedule 193 2Interest on securities to any residentSubject to detailed provisions of given section10% 194A 2Interest (other than interest on securities) to any residentRs. 10000 (for Bank/cooperative bank) & Rs. 5000 otherwise10% 194BWinning from lotteries etc. to any personRs. 1000030% 194BBWinning from horse races to any personRs. 500030% 94C 2Payment to resident contractorsRs. 30000 (for single contract) & Rs. 75000 (for aggregate consideration in a financial year)2% (for companies/firms) & 1% otherwise 194DInsurance commission to residentRs. 2000010% 194EPayment to non-resident sportsmen or sports associationNot applicable10% 194EEPayment of deposit under National Savings Scheme to any personRs. 250020% 194GCommission on sale of lottery tickets to any personRs. 100010% 194H 2Commission/brokerage to a residentRs. 500010% 194-I 2Rents paid to any residentRs. 1800002% (for plant,machinery,equipment) & 10% (for land,building,furniture) 194J 2Fees for professional/t echnical services; RoyaltyRs. 000010% 194LBInterest paid by Infrastructure Development Fund under section 10(47) to non-resident or foreign company-5% 195Interest or other sums (not being salary) paid to non-residents or foreign company except under section 115O-As per double taxation avoidance treaty ^1 At what time tax has to be deducted at source and some other specifications are subject to the above sections. ^2 In most cases, these payments shall not to deducted by an individual or an HUF if books of accounts are not required to be audited in the immediately preceding financial year. In most cases, the tax deducted should be deposited within 7 days from the end of the month in which tax was deducted. [edit]Corporate Income taxFor companies, income is taxed at a flat rate of 30% for Indian companies, with a 5% surcharge applied on the tax paid by companies with gross turnover over ? 1 crore (10 million). Foreign companies pay 40%. [9] An education cess of 3% (on both the tax and the surcharge) are payable, yielding effective tax rates of 32. 5% for domestic companies and 41. 2% for foreign companies. [10] From 2005-06, electronic filing of company returns is mandatory. [11] [edit]Tax Returns There are five categories of Income Tax returns. Normal Return Belated Return Revised Return Defective Return Returns In Response To Notices [edit]Normal Return Returns filed within the return filing due date, that is 31 July or 30 September of concerned assessment year. [12] [edit]Belated ReturnIn case of failure to file the return on or before the due date, belated return can be filed before the expiry of one year from the end of the relevant assessment year. [edit]Revised Return In case of any omission or any wrong statement mentioned in the normal return can be revised at any time before the expiry of one year from the end of the relevant assessment year. [edit]Defective Return Assessing Officer considers that the return is defective, he may intimate the defect. On e has to rectify the defect within a period of fifteen days from the date of such intimation. If the assessee wants more time, he can file an application to the A O and a further 15 days can be granted at the instance of the A O. [edit]Returns In Response To NoticesAssessing officer in the process of making assessment, may serve a notice under various sections like 142(1), 148(1), 153A(a) or 153C. Returns are required to be furnished within the date specified on the respective notices. [edit]Annual Information Return and Statements [edit]Annual Information Return Those who is responsible for registering, or, maintaining books of account or other documents containing a record of any specified financial transaction,[13] shall furnish an annual information return in Form No. 61A. [edit]Statements By Producers Producers of a cinematographic film during the financial year shall, prepare and deliver to the Assessing Officer a statement in the Form No. 2A, within 30 days from the end of su ch financial year or within 30 days from the date of the completion of the production of the film, whichever is earlier. [edit]Statements By Non-Resident Having A Liaison Office In India With effect from 01,June 2011, Non-Resident having a liaison office in India shall prepare and deliver a statement in Form No. 49C to the Assessing Officer within sixty days from the end of such financial year. [edit]Tax Penalties The major number of penalties initiated every year as a ritual by I-T Authorities is under section 271(1)(c)[14] which is for either concealment of income or for furnishing inaccurate particulars of income. If the Assessing Officer or the Commissioner (Appeals) or the Commissioner in the course of any proceedings under this Act, is satisfied that any person- (b) has failed to comply with a notice under sub-section (1) of section 142 or sub-section (2) of section 143 or fails to comply with a direction issued under sub-section (2A) of section 142, or (c) has concealed the p articulars of his income or furnished inaccurate particulars of such income, he may direct that such person shall pay by way of penalty,- (ii) in the cases referred to in clause (b), in addition to any tax payable by him, a sum of ten thousand rupees for each such failure; (iii) in the cases referred to in clause (c), in addition to any tax payable by him, a sum which shall not be less than, but which shall not exceed three times, the amount of tax sought to be evaded by reason of the concealment of particulars of his income or the furnishing of inaccurate particulars of such income. Income Tax The tax code/law which mandates this type of taxation. The government imposed a tax on the income generated by institutions and individuals within the jurisdiction is income tax. The law dictates that every person and business shall pay income tax. It acts as a source of revenue for the government as the taxes s used to serve the interest of the public within the country. The use of progressive tax system is common in most nations access the globe based on the high level of effectiveness involved in the practice. It makes people that earn highly to be taxed more while people that earn a minimal amount of tax would have taxed less. It is a fare system that the government promotes on the basis of promoting fairness with the cultural setting of the country. The paper entails a detailed discussion about income tax system in a developed country such as Australia. Any guideline/interpretation for this tax code that has been issued by the government The section 55 of the Australian constitution clearly explains that the parliament has the duty of ensuring that it imposes tax laws. It led to the creation of multiple sectors that give a detailed explanation of how the taxation system of the country should run. Ideally, they provide a clear direction that the government is supposed to take whole addressing touchy issues such as the taxation system in the country (Kayis-Kumar, 2016, p.2). The act of the commonwealth gives the recuse direction that is required about income tax in the country. The income tax assessment act of 1936 clearly gives the precise direction about the steps that are supposed to be followed while taxing individuals and companies in h countries. Its major concern is the system of taxation rather than the other steps that are involved in the process. Therefore, the Australian laws provide a precise direction. The computation of this type of taxation After the implementation of the act, various amendments have been done depending on the economic and political set-up of the country. Uncommented amendments and proposal have occurred over the past few years based on the complexity and nature involved in the creation of precise laws that are meant to cater for the needs of the people rather than for a specific group. The modifications made were based on various economic factors that cannot be ignored. Factors such as inflation and economic recession are unexpected events that the government needs to ensures that the laws are created in such a manner that the issues are addressed in the most effective way without affecting the genera; economic set up of the country (Potter & Greber, 2017, p.1). It is a fundamental aspect that relies on the ability of the public to understand complex issues that surrounds the economy. Basic= 50000 + HRA=20000 + Travel allowance=1000 + Child's educational allowance=200 + Medical allowance=1250 + other allowance=8000The deductions allowed Travel allowance=1000 + Child's educational allowance=200 + Medical allowance=1250 The taxable annual gross income is (80,450-2,450) x 12 =9,36,000. If Mr. Yen makes a declaration that he went a loss on Property. Interest paid Rs.1,00,000. The Gross total income $8,36,000 (9,36,000-1,00,000).Mr. yen $1,00,000 as investment in Section 8 and $25,000 under Section 80, the total taxable $7,11,000 (8,36,000-1,25,000). $2,50,000 nill, next $5,00,000 will be 5% amounting to $25,0000. balance of $11,000, the tax rate=20% amounts to $2,200.Annual tax $53,766 ($ .52,200 in addition to the education and charged at 3% is $.1,566). The monthly tax will be $4,480.50/-.The group of taxpayers who should pay this tax It is important to understand that the calculation of income tax takes places from the income statement. The income statement explains the financial position of the company inclusive of the net and gross income of the process. It is an important element that needs to be placed under a broader consideration based on the nature and complexity of the matter. The income statement offers the general performance of the company within the industry (Richards, 2017, p. 1). one can view the revenue and profits after the taxation and costs. the expense of taxes is the last item before the calculation of the net income. One can utilize the aspect to know the effective tax rate in the case and compute the tax. The division of the expenses of income tax and earnings that were made before taxes gives the effective tax rate that is required. The tax report with its sections Individuals and business are eligible to pay the taxes based on nature and complexity involved in the calculation of the issue. The individuals do not cater for the payment of the taxes through their whole income. The activity takes place through deductions that include mortgage interest, dental and medical bills and education expense which are the basis of a citizen's life within developed countries such as Australia. The understanding of the matter demands a broader line of inclusion based on the fact that limited opportunities are involved in such situations. For business, it is quite different as the IRS has a varying system that ensures that the payment of the taxes takes place in a fair way (Berg ; Davidson, 2017, p.79). The entities such as corporation's sole proprietorship, partnerships report their income to the IRS for a fair tax deduction to effectively take place. Income tax reports have specific sections that need to be included while an individual is making the report about the financial progress of a company within the industry. It is an issue that is reliant on the general understanding of the Australian financial structure. The income section is a place on the report that lists all the income sources for the business it a popular technique of giving reports as it relates with wages, dividends and other specified factors that cannot be ignored while creating a successful taxing structure that is essential to understand and implement. Ideally, the sections give a clear set of how the report takes place. Therefore, the section is an important part of the taxation system that cannot be ignored based on the nature and complexity of the taxation system.The deduction section is also an important part that shows the tax liability in the most appropriate manner that is recommendable by most people. It is effective based on the fact that it gives the precise parts of the report that the deductions are often made I relation to the main matter of concern. It is important to consider the fact that there are some limitations towards the creation of such goals that need to be considered based on the nature and complexity of the matter in the concurrent societal setting of Australia. Most expenses are directly deductible based on the effect that they have on the businesses of a person. Lastly, the tax credit is also a section that amounts all the taxes owed by the individual bossiness entity. The deductions vary among the jurisdiction based on the existing complexity involved in computing some specified aspects. Other Information Income tax plays a key role in the overall wellbeing of the Australian economy. Through the tax, the country can be able to offer vital services to the members of the public. It is of relevance to ensure that all the institutions in the country ensure that they implement the tax based on its necessity and ability to adjust by the marketing skeptics and meet up the needs of the nation. Individual income tax, business income tax, local and state income tax and sale tax make up an essential part of the system that cannot be ignored while creating a reliable system that is able to deal with complex matters that surrounds the creation of a perfect tax system in the country (Diminson, 2017, 1). It is a necessity to understand that the inclusion of the taxes leads to the success of the Australian economy. ReferencesAustralia: An overview of recent tax developments in australia. (2016).  International Tax Review,Potter, B., & Greber, J. (2017).Slugging households ‘no budget fix'.  The Australian Financial Review   Berg, C., & Davidson, S. (2017).â€Å"Stop this greed†: The tax-avoidance political campaign in the OECD and Australia.  Econ Journal Watch,  14(1), 77-102. Dinnison, I. (2017).Australia revamps CFCs yet again.  International Tax Review,  8(3), 9-12.  Raj, O. (2016).Aussies plan to rewrite tax rules.  Business timesRichards, R. (2017).Fringe benefits fly below the radar.  Intheblack,  79(2), 60.Kayis-Kumar, A. (2016).What's BEPS got to do with it? exploring the effectiveness of thin capitalisation rules.  EJournal of Tax Research,  14(2), 359-386.

Problems and Aspirations of Youth Essay

Abstract Violent crimes such as murder, armed robbery, kidnapping and terrorism are the most inhumane crimes that continue to plague Nigeria. Lately, kidnappings for ransom and terrorism have taken the centre stage leading to bloodshed and economic set -backs. The causes are not farfetched as studies have associated rising youth unemployment to the increase in violent crimes. By using the deprivation theory proposed by Ted Gurr, this study has explored the proximate and ultimate causes involving the youths in violent crimes. If factors that create the feeling of deprivation and frustration created by unemployment are addressed, Nigeria‟s youths will not engage in violent crimes. Keywords: Youth; unemployment; poverty; violence; crime Introduction Creativity and high energy are the characteristics of young people in any nation and if the energy is channelled positively, it will greatly benefit not only the economic prosperity of nations but also enhance the moral values of the youth. When the same energy is used negatively, it will lead to social unrest and economic instability. Labour force of a country is used to measure unemployment and Feyisetan (1991) defines as a set of people or citizens of a country who are willing and are able to make available at any given point in time their efforts for gainful employment. Therefore unemployment is a situation where people are willing to work but could not find employment. According to the International Labour Organization people who are without work but available for and seekin g work; including those who have lost jobs and those who have voluntarily left jobs (World Bank, 1998). On the other hand, violent crime is defined as a crime in which the offender uses or threatens to use violent force upon the victim. This entails violence including robbery with and without arms (Wikipedia, 2010). Global unemployment remained stable at 8% between 2010 and 2011, according to Gallup surveys of 148 countries. Unemployment was highest in the Middle East and North Africa (22%) and sub-Saharan Africa 17% (Marlar, 2012). However, Nigeria‟s unemployment rate is above the sub-region‟s average that increased to 23.9% in 2011 compared with 21.1% in 2010 and 19.7% in 2009 (National Bureau of Statistics, 2012); and is projected to hit 25% by the end of 2012 (USA Embassy in Nigeria, 2012). According to the National Bureau of Statistics (2009:238; 2010:2; 2012), the national unemployment rates for Nigeria between 2000 and 2011 showed that the number of unemployed persons constituted 31.1% in 2000 and it reduced to 11.9% in 2005 but again increased to 23.9% in 2011. Nigeria has a youth population of 80 million, representing 60% of the total population with a growth rate of 2.6% per year and the national demography suggests that the youth population remains vibrant with an average annual entrant to the labour force is 1.8m between 2006 and 2011. Yet, majority of the youth has been either unemployed or under -employed between 2006 and 2011. The overall unemployment rose from 12.3% of Labour force to 23.9% (Awogbenle and Iwuamadi, 2010). A surge in unemployment was witnessed in 2009 due to global/local economic meltdown. The World Bank estimates that 74 million people between the ages of 15 and 24 are unemployed, which accounts for 41% of all unemployed person s (UNHabitat, 2008). From 1990-2000 youth unemployment data showed that the largest group of the unemployed were secondary school graduates. Also, 40% of unemployment rate were among urban youths aged 20 – 24 and 31% of the rate were among those aged 15-19. Two-thirds of the urban unemployed ranged from 15-24 years old. Moreover, the educated unemployed tended to be young males with few dependents (Okafor, 2011). In 2011, the situation became even more critical with 37.7% of Nigerians aged 15-24 and 22.4% of those between ages 25-44 were willing to work but did not get jobs. On average, youth unemployment rate in Nigeria is 46.5% in 2011 (BLG, 2012). As of 2009 when National Bureau of Statistics published unemployment rate at 19.7%, Issa Aremu the Deputy President of the National Labour Congress said, â€Å"Find out about the number of people who applied for the last recruitment by the Nigeria Immigration Service and the Customs Service. When more than a hundred thousand people apply for just about 3000 vacancies, then you should know whether the figures are true† (Ekott, 2010). Unemployment appears to be the root cause o f violence in Nigeria. Research suggests that unemployed youths are disproportionately more likely to be perpetrators, as well as victims of crime and violence (Okafor, 2011). The growing gap between the rich and poor affects the society through increased violence. The self employed are in quandary as scant infrastructure makes it impossible for them to ply their trade (Okafor, 2011). This is exac erbated by political corruption, poverty, poor governance, increasing population, and lack of policy initiatives and implementation to some extent encouraged criminal groups to thrive across Nigeria. This paper examines how youth unemployment contributes to violent crimes across Nigeria. Deprivation Theory of Ted Gurr This classical theory explains why people engage in violence (riots, rebellion, coups, criminal activities etc.). It examines the psychological causes involving frustration and aggression as the primary source of human capacity for violence. Frustration is neither necessary nor sufficient ly leads to violence but greed may drive to violence. Frustration is a much stronger motivating force and prolonged frustration may cause greater probability for aggression. Relative deprivation is the discrepancy between what people think they deserve and what they actually think they can get (Gurr, 1970). It is noteworthy that Gurr does not look to a more absolute or objective indicator of deprivation as the source of violence. People can get used to a bad state of affairs, even one that offers so little access to life-sustaining resources that members of the group are starving or dying of remediable diseases or exposure. However, if there is a significant d iscrepancy between what they think they deserve and what they think they will get, there is a likelihood of rebellion. Gurr posits this to be the case because there is a feeling that their expectation cannot be met if the current statuesque is maintained. The first situation may be a desperate one, but it is the se cond that will be frustrating. So frustration produces aggression at individual, group and societal levels. This theory could be used to link rising number of unemployed youths and violent crimes in Nigeria. A country that produce thousands of university graduate every year without commensurate employment opportunities may be creating a fertile ground for a feeling of frustration among these unemployed graduates. Naturally, there is a feeling of joy and great expectations when a student graduates from a university- these expectations gradually fades away and is replaced by feeling of frustration after some years of joblessness caused by little opportunity the society offers the young graduate. As frustration prolongs and the feeling of deprivation of what that is expected increases, there is a greater probability that the individual or people can resort to illegitimate activities in order to actualise their expectations in the society. The rise in violent crimes (robbery, kidnapping, thuggery, terrorism) committed by youths is a sign of „gap‟ in the society. The society already has expectations for individuals and established means of achieving them. When the means are limited as the youth unemployme nt is 46.5% in 2011, people are forced to achieve the goals through illegal means to fulfil societal expectations. Kidnappings are on the increase across Nigeria and the unemployed youths view the business lucrative. They are available for recruitment by p oliticians. In the Northern part, they are recruited both by politicians and religious groups to be used in political, religious and terrorism acts. In the SW Nigeria, they find easy employment in petty criminal activities. The culture must at least accept , if not approve, violent action as a means to an end. This could be the reason why suicide bombing is exclusive to the Northern part of the country as violence is encouraged by some Islamic sects. Political violence is also likely if the current leadershi p and or the socio-economic and political system are seen as illegitimate. Causes of Youth Unemployment in Nigeria The level of unemployment is highly dependent on the overall status of the economy (Awogbenle and Iwuamadi, 2010). Despite its riches from o il economy, employment in Nigeria is actually falling. The years of corruption, civil war, military rule, and mismanagement have hindered economic growth. Nigeria is endowed with diverse and infinite resources, both human and material but years of neglige nce and adverse policies have led to the under-utilization of these resources. These resources have not been effectively utilized in order to yield maximum economic benefits. These are primary causes of unemployment; however s cholars have identified other causes of unemployment as well ( Adebayo, 1999; Alanana, 2003; Echebiri, 2005; Ayinde, 2008; Morphy, 2008; Awogbenle and Iwuamadi, 2010; and Anyadike et al, 2012) . The first is population growth (140,431,790 as per 2006 census) and is projected to be over 1 80 million by 2020 if the annual growth rate of 3.2% continues (National Population Commission and ICF Macro, 2009). While the population increases, the number of industries growth is dwindling and if nothing serious is done, both population and unemployme nt will continue to rise. The second is outdated school curricula and lack of employable skills: Some scholars have argued that as far as the formal sector is concerned, the average Nigerian graduate is not employable therefore, does not possess the skill s needed by the employers (Anyadike et al, 2012). This is due to the curricula of most Nigerian schools that do not include entrepreneur skill acquisition to benefit job seekers. The third is adoption of untimely economic policy measures that contributed to the demise of small scale and cottage industries operated in both formal and informal sectors. Following the introduction of Structural Adjustment Program in September 1986 that ushered in liberalization, deregulation and devaluation program of the domes tic currency, many of the teething domestic firms collapsed that resulted in serious job losses (Bello, 2003). The fourth is over emphasis on university certificates and neglect of skill acquisition trainings that contributes to youth unemployment. According to Manning and Junankar (1998), the total number of graduates produced in Nigeria was 73,339 in 1986/1987 that rose to 131,016 in 1996/1997. Over 97 universities occur in Nigeria with a demand for higher education while there is problem of unemployment. The reality is that the economy does not have the capacity to absorb all unemployed graduates because over 800 industries and 37 factories were closed down in 2009 alone (Anyadike et al, 2012). Nigeria’s Unemployment and Crimes Security is a contextual issue which no state in the international system consigns to the periphery; it is a core-value that makes the state relevant in the international system (Ndifon, et al. 2012). Death rate attributable to violence in Africa is estimated at 60.9 per 100,000 p eople more than twice the global rate (WHO 2004a). Crime and violence have been increasing in many parts of Sub-Saharan Africa among unemployed young people. The causes are not farfetched as studies have associated rising youth unemployment to increase of violent crime in Nigeria. The accelerating level of prostitution, armed robbery, rape, terrorism and all facets of violence can be largely attributed to the incidence of unemployment. Growth has not been in line with the aspirations of the people and has not been driven by higher productivity. The public perception is that there has been little job creation. Many young people who fail to gain employment have become a burden to the employed that bear the re sponsibility of meeting the needs of millions of educated but increasing frustrated group, a wasting generation. The problem of violent crimes in Nigeria has been exacerbated by the high rate of unemployment and economic hardship which has pushed many jobless youths some of whom are graduates into various deadly crimes (Edward, 2011). A 2009 World Bank report on ‘Employment and Growth’, warned that, â€Å"The share of young people between the ages of 15 and 24 outside the labour force is growing, despite the country’s strong growth performance over the years†. Mass sacking in the Central Bank of Nigeria affected 7,500 banking jobs (Allafrica, 2010). The UN-Habitat study on crimes and violence stressed that socio -economic inequality and the lack of opportunities for social advancement and employment are some of th e root causes of crime and violence. Children and youth from disadvantaged families are vulnerable to fall prey to criminal networks. Of the estimated 1 billion people living in slums, over half are under the age of 25, and 40% are estimated to be under the age of 19. They are the primary victims of social exclusion through unemployment, lack of access to health and education (UN -Habitat, 2008). Furthermore, an empirical survey of Children and Youth in Organized Armed Violence in Nigeria, reported that disenchantment and frustration of young people due to mass poverty and unemployment, has increased the number of aggrieved youths and resulted in the emergence of „area boys‟ and Almajiris who target the very society that alienated them (Ibrahim, 2006). The survey concluded that armed militant groups in Nigeria namely Bakassi Boys, O‟ odua Peoples Congress (OPC) and Egbesu Boys were made up of youths within 16 – 17 years (40%), 18 – 19 years (10%), 20 – 21 years (20%), and 20 – 23 years (20%). Approximately 60% of them were unemployed (Awogbenle and Iwuamadi, 2010). Bennel (2000) argued that urban society is becoming increasingly criminalized, especially with the proliferation of youth gangs. Neither homes, nor markets are safe in Nigeria because of frequent o ccurrence of armed robbery incidents. Unemployment problem, which now seems beyond remedy, has produced army of idle hands and some of them have decided to punish the society that fails to provide them with means of livelihood and dignity by robbing its members of their property at gunpoint (Ideyi, 2005). The police cannot perform effectively because they are overstretched by the amount of cases that awaits them daily, and is worsened by outdated instruments they use that are no match to the modern sophisticated weapons used by the criminals. The Research Director of the Nigerian Economic Summit Group (NESG), Dr Sope Wiliams Elegbe revealed that: â€Å"The increasing poverty in Nigeria is accompanied by increasing unemployment. Unemployment is higher in the nort h than in the south. Mix this situation with radical Islam, which promises a better life for martyrs, and you can understand the growing violence in the north. Government statistics show that the northern states have the highest proportion of uneducated persons. If you link a lack of education and attendant lack of opportunities to a high male youth population, you can imagine that some areas are actually a breeding ground for terrorism† (Oxford Research Group, 2012). The Inspector General of Police, Muhammed Abubakar, has called on the three tiers of government to tackle unemployment in order to reduce crime rate in the country. He expressed concern at the rate youths were resorting to crime as an alternative means of survival due to unemployment: â€Å"We have a lot of graduates and even those who have not attended any school who have nothing to do. It becomes worrisome, when you go round this country and you see the faces of unemployed persons. You begin to wonder that we just have to do what we have to do at the level of federal, state and local governments to begin to plan and put policies in place for the employment of these persons†. (Cruise news, 2012) Conclusion No nation can achieve growth in an atmosphere of violent crimes. The role of Nigeria‟s government must include the formulation of policies and laws that could help improve the economic and social wellbeing of its citizens and deter criminality. There is a need to increase jobs through small enterprises and poverty alleviation schemes. Economic gr owth in Nigeria is not the only solution to curb unemployment as the official statistics illustrate that previous unemployment did not decline economic growth. Other solutions such as the provision of right skills to youth should be given an importance. The study concludes that feeling of deprivation produce frustration and could be expressed through aggression. Therefore if factors that are responsible for youth unemployment in Nigeria are addressed, violent crimes will be reduced. References Adebayo A (1999). Youth Unemployment and National Directorate of Employment Self Employment Programmes. Niger. J. Econ. And Soc. Stud. 41(1): 81-102. Alanana OO (2003). Youth Unemployment in Nigeria: Some Implications for the Third Millennium. Global J. Soc. Sci. 2(1):21-26. Anyadike Nkechi, Emeh Ikechukwu EJ and Ukah Finian Okechukwu (2012). Entrepreneurship development and employment generation in Nigeria: Problems and prospects. Journal of Education and General Studies Vol. 1(4) pp. 088-102. Awogbenle, A.C. & Iwuamadi, K.C. (2010). Youth Unemployment: Entrepreneurship Development Programme as an Intervention Mechanism. African Journal of Business Management, 4(6), 831-835. Ayinde OE(2008). Empirical Analysis of Agricultural Growth and Unemployment in Nigeria. Afr. J. Agric. Res. 3(7):465-468. Cruise news, (2012). To fight crime in Nigeria, we must first fight Unemployment. Available on http://www.cruisenigeria.com Bello, T. (2003). Attacking Unemployment Hurdles in the Fragile Economies of the Sub – Saharan Africa: The Experience of Nigeria. A Paper Presented at the – Economics for the Future – Conference; On the Occasion of the Celebration of 100 Years of Cambridge Economics; Cambridge, United Kingdom Bennel, P, (2000). Improving Youth Livelihood in SS.A Report to the International Development Center. BGL, (2012). Economic Note: The Nigeria’s Paradox of Growth amidst High Poverty Incidence. Retrieved from www.bglgroupng.com Echebiri, R.N. (2005). Characteristics and Determinants of Urban Youth Unemployment in Umuahia, Nigeria: Implications for Rural Development and Alternative Labor Market Variables. A Paper presented at the ISSER/Cornell/World Bank conference on â€Å"Shared Growth in Africa† held in Accra, Ghana, July 21-22. Edward Uzoma Ezedike, (2011). Violent Crimes, Economic Development and the Morality of Capital Punishment in Nigeria: A Retentionist Perspective. Retrieved from www.transcampus.org/journals Ekott, I. (2010). Statistics Bureau puts Nigeria unemployment rate at 19.7 percent . Next News. Retrieved from http://234next.com/csp/cms/sites/Next/Home/index.csp Feyisetan BJ (1991). Population growth and the labour force, a study of relationships. Paper presented at a seminar on population and development, Obafemi Awolowo University, Ile-Ife. Nigeria June 25-28. Ideyi, N. (2005). The Root Cause of Violence in Nigeria: The Niger Delta Crisis, a Reference Point Manning, C. & Junankar, P.N. (1998). Choosy Youth or Unwanted Youth: A Survey of Unemployment. Bulletin of Indonesian Economic Studies, 34(1), 55-93. Marlar Jenny, (2012). Global Unemployment at 8% in 2011. Retrieved from http://www.google.com/gwt/x?hl=en&u=http://www.gallup.com/poll/153884/globalune mployment2011.aspx&client=msucweb&q=Unemployment+rate+in+Africa+and+sub+S aharan+Africa&sa=X&ei=GHEOUPHUDmw2wW_j4HYCA&ved=0CCQQFjAJ Morphy R. (2008). Nigeria: Youth Unemployment, Poverty – a Time Bomb for Country. Leadership, Wednesday, 27 August National Bureau of Statistics. (2009). Social Statistics in Nigeria. Abuja: The NBS Publication. Retrieved from www.nigerianstat.gov.ng National Bureau of Statistics. (2010). Statistical News: Labor Force Statistics No. 476. Abuja: The NBS Publication. Retrieved from www.nigerianstat.gov.ng National Bureau of Statistics, (2012). Labour Force Statistics. Retrieved from www.nigerianstat.gov.ng National Population Commission and ICF Macro. (2009). Nigeria Demographic and Health Survey 2008. Abuja, Nigeria: National Ndifon, C.O, Apori, K.A and Ndifon, R.A. (2012). Human Traffickin g in Nigeria: A Metaphor for Human Rights, Crime and Security Violations. American Journal of Social Issues & Humanities (ISSN: 2276 – 6928) Vol.2(3) pp. 84-99. Available on http://www.ajsih.org Okafor, E.E. (2011). Youth Unemployment and Implications for Stability of Democracy In Nigeria. Journal of Sustainable Development in Africa. Vol. 13, No.1, 2011 ISSN: 15205509 320 | A j a e g b u  ©AJSIH Vol.2 No.5. (September 2012) 315-321 American Journal of Social Issues & Humanities Vol.2 No.5. (September 2012) Oxford Research Group, (2012). Nigeria: The Generic Context of the Boko Haram Violence. Monthly Global Security Briefing. Retrieved from www.oxfordresearchgroup.org.uk/sites/default/files/AprEn12.pdf Population Commission and ICF Macro, (2010). Nigeria: Unemployment – Paradox of Growth. Retrieved from http://allafrica.com/nigeria/ Ted Gurr . Why Men Rebel. Princeton, NJ: Princeton University Press. 1970. UN-Habitat, (2008). Crime and violence versus employment opportunities in cities and towns. 2nd African Minister ial Conference on Housing and Urban Development. Abuja, Nigeria. Retrieved from www.unhabitat.org United States Embassy in Nigeria, (2012). Nigerian Fact Sheet. Retrieved from http://nigeria.usembassy.gov WHO (World Health Organization), 2004a. African Leaders Call for Increased Efforts to Prevent Violence. Press release, July 26. Regional Office for Africa, Brazzaville. Retrieved from www.afro.who.int/note_press/2003/pr20030726.html Wikipedia,

Evaluation of the Effectiveness of Accouniting Information System Essay

Abstract- In this study the effectiveness of accounting information systems from finance managers of listed companies at Tehran Stock Exchange is evaluated. The results indicate that implementation of the accounting information systems at the companies under study caused the improvement of managers decision-making process, improving internal controls, improving the quality of the financial reports and facilitated the process of the company’s transactions. The results did not show any indication that performance evaluation process had been improved. Key words: Accounting Information Systems, Quality of Financial Reports, Internal Controls, Decision Making, Performance Evaluation. INTRODUCTION In managing an organization and implementing an internal control system the role of accounting information system (AIS) is crucial. An important question in the field of accounting and management decision-making concerns the fit of AIS with organizational requirements for information communication and control, Nicolaou (2000). Although the information generated from an accounting information system can be effective in decision-making process, but purchase, installation and  usage of such system is beneficial when its benefits exceeds its costs. Benefits of accounting information system can be evaluated by its impacts on improvement of decision-making process, quality of accounting information, performance evaluation, internal controls and facilitating company’s transactions. Regarding the above five characteristics, the effectiveness of AIS is highly important for all the firms. An AIS is defined as computer-based system that processes financial information and supports decision tasks in the context of coordination and control of organizational activities, Nicolaou (2000). LITERATURE REVIEW Accounting information system is considered as a sub system of management information system (MIS). Regarding accounting as information system perhaps is the latest definition of accounting. For the first time in 1966 the Statement of Basic Accounting Theory, published by the American Institute of Certified Accountants (AICPA), stated that: â€Å"Accounting actually is information system and if we be more precise accounting is the practice of general theories of information in the field of effective economic activities and consists of a major part of the information which is presented in the quantitative for†. In the above definition, accounting is part of general information system of an economic entity. Boochhold (1999) defines accounting information systems as systems that have function of data gathering, processing, categorizing and reporting financial events with the aim of providing relevant information for the purpose of score keeping, attention directing and decision-making. Accounting information systems are considered important organizational mechanisms that are critical for effectiveness decision management and control in organizations, (Galbraith, 1983; Zimmerman, 1995). Systems will be useful when information provided by them is used effectively in  decision-making process by the users. Otley (1980, 325) argues that Accounting System are an important part of the fabric of organizational life and need to be evaluated in their wider managerial, organizational and environmental context. Therefore, the effectiveness of accounting information systems not only depends on the purposes of such systems but also depends on contingency factors of each organization. Accounting information systems are said to be effective when the information provided by them serves widely the requirements of the system users. Effective systems should systematically provide information which has a potential effects on decision-making process, Ivest et.al. (1983). The effectiveness of accounting information systems has long been a subject of many research, (Chong, 1996, Chenhall and Moriss, 1986, Kim, 1988, Mia and Chenhall 1994).Accounting information usually are categorized under two categories; 1) information that influence decision-making and mainly used for the purpose controlling the organization and 2) information that facilitate decision-making process and mostly used for coordination within an organization, (Demski and Feltham, 1976, Kren, 1992). Huber (1990) argues that, integration of accounting information systems leads to coordination in organization which in turn increases the quality of the decisions. Some research in accounting show that the effectiveness of accounting information systems depend upon the quality of the output of the information system that can satisfy the users’ needs, (Cameron, 1986, Lewin and Minton,1986, Quinn and Rohrbaugh, 1983, Deone and Mclean, 1992, Kim, 1989). Generally, accounting information systems; 1) provide financial reports on a daily and weekly basis and; 2) in addition provide useful information for monitoring decision-making process and performance of the organization. Simons (1987) in his study we used the first part of the above statement as measure of control for management and the second part for evaluating the effectiveness of the accounting information systems via continuous monitoring. By reviewing research studies during 1987-1999, one finds out that 57 research has been conducted on the issue of accounting information systems and decision-making. Therefore, it shows the importance of the research in  this area. Accounting information systems provide primary data for decision-making. Information technology has caused many changes in reporting information. Thus, the characteristics of information currently prepared can help decision-makers to seek more alternatives to the solution of the problem in hand. Accessibility to information related to the main transactions of an organization leads to a categorized detailed information which facilitates decision making in any difficult situation, Sutton and Arnold (1995). Accounting information system, is a computer based system that is defined by Nicoloau (2000) as a system that increases the control and enhance the corporation in the organization. Management is engaged with different types of activities that are requiring good quality and reliable information. They require also non-financial information such as production statistics, quality of production and so on. However, quality of information generated from AIS is very important for management, Mckinnon and Bruns (1992). Kim (1989) argues that usage of AIS depends on the perception of the quality of information by the users. Generally the quality of information depends on reliability, form of reporting, timeliness and relevance to the decisions. Effectiveness of accounting information system also depends on the perception of decision-makers on the usefulness of information generated by the system to satisfy informational needs for operation processes, managerial reports, budgeting and control within organization. Some research indicate that the effectiveness of accounting information systems depend on the quality of output information that satisfy the users, Cameron (1986), Lewin and Minton, (1986), Quinn and Rohrbaugh, (1983), Delone and Mclean, (1992) and Kim, (1989). Effectiveness of accounting information systems can be analyzed on three basis: 1)- information scope, 2)- timeliness, 3)- aggregation. Information scope is considered as financial and non-financial information, internal and external information that is useful in prediction of future events. Timeliness quality is related to the ability of accounting information system to satisfy informational needs by providing systematic reports to the users of information. Aggregation of information is considered as means of collecting and summarizing information within a given  time period, Choe (1998). Doll and Torkzadeh (1988), for studying the satisfaction of the users’ of information use some concepts to measure the effectiveness of the accounting information systems. These concepts are information content, accuracy, format, ease to use and timeliness. HYPOTHESES After reviewing relevant literature, five main variables and three moderator variables were hypothesized. Hypothesis 1: Accounting information systems leads to better decision-making by managers. Hypothesis 2: Accounting information systems leads to more effective internal control systems. Hypothesis 3: Accounting information systems enhance the quality of financial reports. Hypothesis 4: Accounting information systems improves performance measures. Hypothesis 5: Accounting information systems makes financial transaction process easy. MODERATOR VARIABLES Hypotheses based on moderator variables are set up to see whether such variables have any impact on the respondents’ responses to the research questions. One expects that such variables do not influence the way that respondents reply to the questions in the questionnaire. Hypothesis 1: There is a relationship between the levels of respondents’ education and evaluation of the effectiveness of accounting information system. Hypothesis 2: There is a relationship between the job experience of the respondents and evaluation of the effectiveness of accounting information system. Hypothesis 3: There is a relationship between the field of respondents’ education and evaluation of the effectiveness of accounting information system. RESEARCH METHOD Sample and data collection This study is based on the companies listed at Tehran’s stock exchange. No specific time period is considered since it is not a time series study. A  questionnaire is designed and after pilot study was sent to the sample firms. A population of 347 companies has been listed at Tehran’s stock exchange up to 1383. These companies are distributed along fifteen industries. Our sample has been randomly selected using sampling with no replacement process. For this purpose the below formula: 2 2 N ZÃŽ ±/2 ÃŽ ´ X n = ————————— 2 2 2 Ã'” (N-1) + ZÃŽ ±/2 ÃŽ ´ X 22 347 ( 1.96) (0.29) n = ———————————— = 95 (0.05)2 (347-1) + (1.96)2(0.29)2 Based on the ratio of the companies in each industry to the total number of companies in the population, the number of companies in each industry for the sampled firms was determined. The main data collection instrument in this study is questionnaire. For this purpose a questionnaire was designed after reviewing the relevant literature. The questions are on the five point Likert type questions, with a choice of very little to very much. The questionnaire consists of twenty questions, which were carefully designed to collect relevant data. The research instrument was pilot studied, by expert panels including faculty members. The revised instrument and a cover letter were mailed to the specific individual who was listed as financial managers of the sampled firms. A reminder was sent and non-respondents were followed up with two additional mailings. In the first questionnaire launching 54 questionnaires were completed and returned. In the second and third mailings a total of 33 more completed questionnaires were returned. Altogether 87 questionnaires were available for data analysis in this study. STATISTICAL TESTS To test the hypotheses of this research we have used z and χ2 statistics at confidence level of 95%. The research hypotheses were put in the form of statistical hypotheses such as H0 and H1. With regards to the nature of five-point scale questions, therefore, we test whether the mean value of each question is less than or greater than 3. Number 3 is the average number of the five choices in each question: 1+2+3+4+5  µ = ——————- = 3 5 Thus, statistical hypotheses are set up as follows: H0:  µ ≠¤ 3 H1:  µ > 3 Testing moderator variables: to test the moderator variables and see whether they have any impact on the main variables, in this research χ2 tests were conducted. TESTING HYPOTHESES AND ANALYZING THE RESULTS To study the research hypotheses eighty seven finance directors (financial managers) were selected as final sample in this study to answer the question put forward to them in the questionnaire. The data collected in this way was edited and some questions merged to measure each hypothesis. Average number of 3 was taken as the mean of the five-point questions in the questionnaire. Table -1 shows a descriptive statistics of five hypotheses. Table-1 Descriptive statistics MinMaxStd.Error of KurtosisKurtosisStd. Error of SkewnessSkewnessVarianceStandard DeviationModeMeanStd. Error from  MeanAveHypotheses 2.53.50.5110.0940.258-1.0870.1040.3223.53.250.3453.227H1 2.540.5110.799-0.2580.5680.1780.422330.0453.244H2 2.5.7540.5110.252-0.2580.364-0.2630.51243.750.5493.75H3 2.53.50.5110. 890-0.2580.8250.1380.3722. 52.750.3992.80H4 2.754.50.5110.419-0.2580.175-0.1950.4423.53.50.4743.58H5 Results of the first hypothesis: Accounting information systems lead to better decision-making by managers. Z statistic concerning the test of first hypothesis is equal to 6.47 (table-2 ).By comparing this value with the critical value of 1.645, we accept H1 and reject H0. Therefore, the first hypothesis is accepted indicating that implementation of an accounting information system in an organization could improve decision making by managers. The average of the questions measuring this hypothesis is 3.227 and the skewness of -1.087. The kurtosis of 0.094 indicates that the distribution of our data is slightly taller than normal distribution with 0.322 standard deviation. Thus, we could conclude that our respondents on average and slightly above the average believe that accounting information systems lead to better decision-making by managers. Results of the second hypothesis: Accounting information systems leads to more effective internal control systems. Table-2 shows the Z value of testing the second hypothesis equal to 5.389. Again, comparing this value with the critical value of 1.645, we accept H1 and reject H0. This indicates that from the respondents’ point of view accounting information systems would lead to better internal control systems. Descriptive statistics shown in table-1 gives the average of 3.224 to the questions measuring the second hypothesis, skewness of 0.568, kurtosis of -0.799 and standard deviation of 0.442. This information indicates that the distribution of our data is slightly shorter than normal distribution.

Holden’s depression by J.D Salinger Essay

According to Psychiatric News the depression rate of a normal 16 year old is 11.5%. Holden Caulfield was apart of that 11.5% because he is disconnected with his family, is drinking heavily and is trying to experience sexual relations with older women. In Catcher in the Rye, J.D Salinger uses Holden’s interactions with his family, alcohol and sexuality to demonstrate his depression. This story describes that with Holden’s brother, Allie passing away it makes his depression rate go higher but lowers as he ‘talks’ to him. â€Å"I felt so depressed, you can’t even imagine. What I did, I started talking, sort of out loud to Allie,†(98) said Holden. This shows that whenever Holden would feel down and depressed that the only person to go to was his brother, Allie. This was a way of comfort for Holden throughout the story. There are more incidents when Holden felt depressed and just talked to his dead brother, Allie, which is Salinger’s way to demonstrate his depression. Alcohol demonstrates Holden’s depression also. â€Å"There isn’t any nightclub in the world you can sit in for a long time unless you can at least buy some liquor and get drunk of unless you’re with some girl that really knocks you out,† said Holden which describes that with the word usage of â€Å"at least buy some liquor and get drunk† meant that for him to have a good time he would need to be drunk to have fun. Also, the words â€Å"unless you’re with some girl that really knocks you out† explains that not just being drunk at a nightclub would make him enjoy himself but just having someone to talk to would also help to get rid of the loneliness. Being alone and needing someone to talk to, links back to Holden’s depression issues. Lastly, Holden is mostly saddened by his sexual relationships with older women. Holden’s quote â€Å"don’t you feel like talking for a while†(124) , lets the reader know that he is scared and doesn’t really want to have sex with Sunny and just needed someone to talk to. Holden wanted to keep the conversation going but could not because Sunny was a prostitute and was only there for the money, not for conversation. The words â€Å"don’t you feel like†¦Ã¢â‚¬  shows that Holden is just asking questions, trying to prevent Sunny from doing her job or ignoring the real reason she was there. This shows that Holden only asked Maurice to send up a girl for him so he would have someone to talk to since he could not talk to his mom about his problems since she wasn’t around. As a result, he tries to connect with other older women instead. Salinger uses Holden’s attraction to older women to demonstrate the extent of his depression and need t o have someone to give a listening ear. Catcher in the Rye demonstrates Holden’s depression by J.D Salinger’s usage of his family, alcohol and sexuality. These quotes all show that his use of alcohol, sexual relationships and the lack of family all contributed to Holden’s depression. His is one of the many teenage depression cases that make up the 11.5% of the nation’s depression rate.