Auditing and Assurance Services Systematic Approach

Question: Discuss about the Auditing and Assurance Services for Systematic Approach. Answer: Introduction: There are some issues in the given case which indicates the need for audit planning. Audit planning refers to the process to the audit operations. In this stage, the necessary information is gathered and the problems are identified. In the given case, there is a massive downturn in the commercial property sector and an abundance of the city office space. Thus, the audit planning issue is to find out the reasons behind this downtown in the commercial sector. Another issues is to find out the reasons the city office space has been abandoned. After that, the necessary information needs to be collected (Smetanko 2014). There are some major auditing issues in this case. The software has been purchased by WebLtd. for the purpose of financial analysis and for the improvement in the management reporting. Here, the first job of the auditor will be to run the system to know whether the system is appropriately made or not. On the other hand, the reliability of the information provided by the software needs to be examined. It needs to be made sure that whether the information provided by the system can be used for various purpose of the organization. There are the main auditing issues that need to be addressed (Mohamed 2015). In this case study, the first audit issue is to find out the reasons for the establishment of an overseas branch as a sales outlet. This is needed as a lot of expense are involved in this process. After that, the next issue is to find out whether it is justified for Beauty Pvt. Ltd. to distribute the samples of the products in order to increase the marketing effort of the company. The third issue is to collect every possible data and information about the inventory of the company that has been transferred to the oversea branch (Getz and Davis 2014). There are some issues that decided whether to use the control approach or the substantive approach. Control approach is used by the auditors to prevent or detect the material misstatement in the audit report. On the other hand, substantive approach is used to prevent or detect the material misstatement as well as the frauds in the assertion level of the audit report. This the main issue behind the selection of different kind of approaches. However, there are other issues like the adopted control system of the client, various auditing activities and others (Glover, Prawitt and Messier 2014). The choice of audit approach vastly depends on the risk assessment procedure of the company. There are three kinds of risk assessment criteria and they are inherent risk, medium risk and detection risk. Inherent risks are errors or omissions in the financial statement due to failure in the control process of the company. Control risks are the material misstatement due to the error of various fraudulent and others. Detection risks are the risks which has a chance to occur in the near future. There is a relation among these three kinds of risks and the choice of audit approach. In case of inherent risk, control approach needs to be adopted. In case of the control risk, substantive approach needs to be adopted. Lastly, in case of the detection risk, control approach needs to be selected (William Jr, Glover and Prawitt 2016). For the purpose of measuring the accuracy and completeness of the depreciation expense, substantive approach needs to be adopted. There are reasons behind this statement. As discussed earlier, substantive approach is selected in order to detect or prevent the material misstatement as well as the frauds in various accounts. Depreciation is the kind of expense where both material misstatement as well as frauds can be happened. This is the reason for selecting substantive approach for the calculation of depreciation (Diamond 2013). Accounting is the process to collect, record, process various kind of data and information so that they can be used in making the financial report of the company. On the other hand, auditing is the process of verifying and checking those accounts so that the annual report of the company can reflect the true financial position of the company. Thus, it can be clearly understood that there is a deep connection between accounting and auditing (Dumitrescu 2012). In this regard, it can be said that auditing and accounting are the two sides of the same coin. At the time of auditing, it is desired that the internal as well as the external auditors of the company are provided with the necessary accounting information. In this regard, the proper communication of all necessary accounting information is utmost important. This is why there should be an effective accounting information system that will keep track of all the accounting as well as financial information of the organization. This acco unting information system collects all accounting data and information from various financial and accounting activities of the company, processes them so that they can be useful to the auditors at the time of audit and stores them for further references. These operations of accounting information system help the auditors in a large way. At the time of auditing, the internal as well as external auditors needs various kind of accounting and financial information like information related inventories, sales, purchases, production and many others. The accounting information system helps to communicate all these necessary relevant information to the auditors so in order to smooth the task of the auditors. In the presence of all true accounting information, the financial report of the company reflects the true image of the financial position of the company. On the other hand, the miscommunication of accounting information to the auditors contributes in preparing a financial report that doe s not reflect the true financial position of the organization. Thus, from the above discussion, it can be concluded that there is deep connection between auditing and the proper communication of accounting information (De Vlaminck and Sarens 2015). References De Vlaminck, N. and Sarens, G., 2015. The relationship between audit committee characteristics and financial statement quality: evidence from Belgium.Journal of Management Governance,19(1), pp.145-166. Diamond, J., 2013. Internal Control and Internal Audit. InThe International Handbook of Public Financial Management(pp. 374-395). Palgrave Macmillan UK. Dumitrescu, A., 2012. Improving public sector performance by strenghtening the relationship between audit and accounting.Theoretical and Applied Economics,11(11), p.85. Getz, B. and Davis, S., 2014. Are you prepared? How one internal audit department identified problems and provided recommendations to strengthen the company's response to business disruptions.Internal Auditor,71(3), pp.69-73. Glover, S.M., Prawitt, D.F. and Messier, W.F., 2014.Auditing assurance services: a systematic approach. McGraw-Hill Education. Mohamed, A.A.M., 2015. Operations Research Applications in Audit Planning and Scheduling.Operations Research,1, p.30968. Smetanko, O., 2014. Improvement of Internal Audit Planning Method through Application of Risk Card by the Indices of Value-Based Management System of Joint-Stock Company.Accounting and Finance, (2), pp.144-154. William Jr, M., Glover, S. and Prawitt, D., 2016. Auditing and Assurance Services: A Systematic Approach.Auditing and Assurance Services: A Systematic Approach.

Section4 Define the following terms Essay Example

Section4 Define the following terms: Essay Name: Instructor: Course: Date: We will write a custom essay sample on Section4 Define the following terms: specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Section4 Define the following terms: specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Section4 Define the following terms: specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Section4Define the following terms: Minimax Minimax is a management decision rule that guides the manager to minimize maximum possible loss. This is usually used to gauge the maximum possible loss that a manager can gain from the effect of a decision. Hence, Minimax allows the management to consider the effect of a decision on the organization. Maximax Maximax is an alternative that maximizes maximum possible gain. The management usually considers the decision that will enable them receive the highest potential gain out of the implication of the decision on the organization. Payoff Payoff is one short event, a result of pairing a decision alternative with an outcome. The objective of the payoff is to allow the management determine the advantages in terms of gain that they will receive from a certain event based on their decision. Expected Value Expected Value is the outcome of multiplying the probability of an uncontrolled event times the value of the potential outcome and subtracting associated costs. Abbreviated as E.V, the term is a long-run concept. Zero Sum Zero-sum is as opposed to non-zero sum, indicates that one loses and the other one gains. The non-zero term indicates that all the players lose or gain. What is this sections opinion about superstar decision makers? In order to cope with temporariness, managers have always been concerned with change. What is paramount is the length of time one takes to implement change. Superstar decision makers are termed as â€Å"heroic decision makers†. These employees made good decisions under conditions of uncertainty, and continued to do this repeatedly. They are admired, but caution should be taken in the future since just like a heroic penny that turns up heads, four times in a row, chances are, they can still make a wrong decision. As a result, most managers will tend to deal with individuals who are level headed and who take their time before making any rash decisions that could affect the organization negatively. Why is Tosca unable to facilitate the outcome where she saves both her virtue and her lover? From the pay off matrix, it is realized that both Scarpia and Tosca are minimaxers and thus they fail to see that they do not have a zero sum game. Moreover, a coalition solution would produce positive payoffs for both. Why do you think human beings are risk averse when it comes to positive outcomes, but â€Å"risk seeking† when it comes to situations of negative outcomes? Would it not make more sense to be risk seeking when it comes to positive outcomes and risk averse with regard to negative outcomes? Human beings are risk averse when it comes to positive outcomes, but â€Å"risk seeking† when it comes to situations of negative outcomes, because when they enter into a position of possible adversaries or collaborators they fail to analyze beforehand whether the situation is a non-zero sum game or a zero sum game. As a result, it is crucial to be risk seeking when it comes to positive outcomes and risk averse with regard to negative outcomes. Chapter 22 Why do companies have gift policies, and why are some of these policies so strict? A conversation exists between Faust and Stanley. It is realized that gifts generally can be used to influence decisions in an organization. Even though an individual in a lower cadre cannot influence decisions in an organization, the individual can belong to a group that will eventually collectively, influence decisions in the organization. How do you respond to Stanley’s question of whether this is really an ethical issue? Behavior is predictable if the individual under review is known. While a person’s behavior may not appear rational to an outsider, more often than not, it is intended to be rational. Moreover, the subject views their behavior as rational. This summarizes the ethics that the employee should not have received the gift. How can you deal with the ethical lapse -as you view it- of another person, other than by â€Å"turning them in†. For example, what alternatives would you consider if you were aware that another employee had accepted an inappropriate gift? Foremost, an alternative that would work best instead of whistle blowing is a review of the Code of Conduct. Instead of turning in the employee, I would consider reviewing the Code of Conduct with him or her and exemplify or emphasize on the illegal action of accepting gifts and the implications that arise from the action of accepting. Doesn’t it make practical sense to overlook common, petty ethical lapses in order to maintain your credibility for dealing with weightier issues? Typically, ethical issues affect organizations considerably irrespective of how petty or serious they seem to be. Usually, issues that are regarded as petty become compounded over time thus affecting the organization drastically. This would be avoided if the issues were reported early. Why would the NCAA care about an athlete receiving a 10-cent cookie? Does this policy not seem a bit petty? The NCAA realizes the considerable effect of ethical issues regardless of their simplicity or complexity. Therefore, the NCAA was unwilling to allow the athlete receives a 10-cent cookie based on the magnitude that it would have on ethics in the organization. Thus, it is crucial not to overlook any petty ethical lapses in the organization. As a result, the NCAA did not overlook the cookie. Chapter 23 What was the problem and benefit of Stanley telling Ted what he thought of the orientation program? One fear of Stanley telling Ted what he thought of the orientation program was that he would offend Ted, but ultimately it helped Ted improve on the delivery. Why does Stanley’s widespread name recognition result in his being chosen as the best candidate for an important New York assignment? Stan is chosen because of his honesty of judgment, since he would have lied to Ted in order to gain the opportunity than say how he honestly felt. Is self-promotion ethical? There is ultimately nothing wrong with self-promotion. Chapter 24 Using payoff matrices for Ted and Ben, how would you explain the outcome of this tale? In terms of using the payoff matrices, Ted will receive a +10 due to the favorable outcome arising out of Ben’s acceptance of the SUREFIRE program. Nevertheless, Ben will also receive a moderately favorable payoff of +5 respective of the fact that he rejects the program but accepting it would work in his favor. At this point, there would be no strike. However, if a strike occurred, then Ted would gain slightly and thus gain a moderate outcome of -5. However, Ben will lose considerably since he is in charge of management at the plant and thus gain a -10. What are the upside and the downside of Ted’s tactics? Ted’s upside in his move is that he is giving himself more power to control the workers in the organization, while the downside is that he is creating a disconnect, thus reducing their morale of the employees. How can you explain the text’s claim that Ben and Ted do not seem to be trying to reach the best managerial decision, but rather â€Å". . . a personal decision dressed up as a managerial one†? This is a personal decision since both Ted and Ben are trying to usurp power, creating disarray, and thereby reducing their output. Chapter 25 What functions does the MERIT system serve from a cultural/interpretive viewpoint? The rating system gives each employee a position in terms of his performance and thus curbs bias in the organization. It also gives the true worth of an employee to the organization. Additionally, the ranking system allows employees to gauge their performance based on their rankings in the organization. What functions does the MERIT system serve from a technical/rational viewpoint? The MERIT system provides a platform that will allow the organization to determine their overall performance based on the performance of the employees. This is rational from the organization’s point of view since the system allows organization to monitor the individual performances of each employee and thus ascertain those that add or decrease value. Why is the issue of rating versus ranking performance primarily a technical/rational issue? Rating and ranking performance is a rational issue since it forces employees to apply self-interest in the sense, that an employee is only considered about his or her individual performance and does not become concerned with the performance of other employees. This further creates tension and animosity between employees. There is also no aspect in ranking value other attributes. These are the technical/rational issues that affect both the rating and ranking approach in the MERIT system. What is the upside and downside of both the rating and rankings approach? The upside of the rating approach is that it allows employees to rate their performance and thus note the areas they need to change in order to perform more effectively. Additionally, the upside of the ranking approach is because employees are able to receive incentives to work harder and add value to the organization based on their rankings on their efforts. However, ranking and rating possess a downside that is based on discord and tension. This is because rating instills discord between employees and their seniors, while ranking creates tensions between employees due to competitive rivalry.

4 Steps to a Winning Admission Essay

A college admissions essay is perhaps one of the most important documents a person will ever write. Believe it. Admissions committees (typically made up of the very professors with whom you want to work) will absolutely read your submission—and then happily use your words for or against you in the selection process. Any university professor will tell you that a search committee relies on the admissions essay for the insights it provides in helping to measure the â€Å"fit† of an applicant to a particular program. A smart search committee member evaluates the attributes of both candidate and school to estimate whether or not an applicant will succeed at the institution. So with that in mind, how do you develop just the right tone and message for the essay? Consider what follows as a guide toward putting your best essay forward. Your academic success might depend on it. Do Your Homework Feed into the ego of the admissions committee members by noting their accomplishments, which obviously shape the reasons you want/need to study at that particular place. Make it clear that â€Å"thanks to Dr. Y’s recent published study on X,† there is no better place on the planet for you to come do your work and subsequently make your own brilliant contributions to the field—all filtered through their genius, of course. Are you getting me here? Don’t pander, and don’t wallow. But by all means, speak directly to and about the target school, acknowledging that behind every desirable academic program are instructors, researchers, and administrators making it shine. Get Personal Think of the admissions essay as a portrait of you (minus the fake smile and perfect hair) that reveals something about your personal truth. Heavy, I know, but a candidate must relate particulars about just why they want to attend a designated school—and you can do so by setting up some amount of a personal history. Are you the first of your family to go to college or pursue a graduate degree? Maybe your childhood was fraught with varying levels of pain related to financial realities, health problems, or other â€Å"issues† you’ve managed to overcome? Say so. Build your case—but don’t go crazy on this front. No need to pull the sympathy card, but if there lurks in your past a legitimate â€Å"shadow† which somehow fueled your desire to get into this school, then tell that story. Build Up Your Story Now, don’t simply accumulate a list of bullet points; instead, write prose that sequences from one idea to the next via logical transitions and vivid, descriptive wording. Try to offer the admissions committee readers a narrative flow, so that they come away with a sense of where you’ve been, where you are now, and where you plan to go. In other words, structure the essay on a sort of past-present-future platform, and always anchor your â€Å"plot† in how this school—how this program—is the only logical jumping-off point for your next phase. Pay Attention to Details Have two or three people (who have a grasp of the language) read your essay before you submit! It’s imperative to get feedback on content, readability, and even â€Å"mechanics† (errors in punctuation are more distracting than you might think). It’s critical that you pad the writing-editing-revising-submitting sequence with the time necessary to do all of the above. As you craft the essay, always remember that a school cares about who it accepts; after all, a student’s academic trajectory should result in his or her entry into the professional arena, where that now former student will make a distinguished mark in the field. That mark will soon enough reflect positively back onto the school, the program, and yes—on the professors themselves, which bring us full circle: know your audience. There it is. The road to a truly outstanding admission essay is not that long. The truth is, it does require diligence, creativity and perseverance. However, destination is worth it.

Free Essays on Euthenasia

Euthanasia is often called â€Å"mercy killing†. It is intentionally making someone die, rather than allowing that person to die naturally. It is sometimes the act of ending someone’s life who is terminally ill, or is suffering in severe pain. Euthanasia is mostly illegal in the world today. Euthanasia can be considered a form of suicide, if the person afflicted with the problem actively does it. The person volunteering to commit the act to that person can also consider it a form of murder. The positive side of Euthanasia is that it ends a person’s suffering in this world. Many physicians and psychiatrists believe that it may a humane act. From a virtue ethics point of view, it may be appropriate. What we seek in human existence is to be happy, and find happiness. Suffering from a terminal illness, or affliction, could inhibit one’s happiness in life. If the goal is to be happy, then Euthanasia would be an answer for this person. Euthanasia may even bring about happiness in that it is what the person desires and wants, in order to no longer to be a burden to his/her family. Also, Euthanasia would stop the pain and not prolong the dying process. In the utilitarian point of view we all have a duty to our happiness, and a duty to the society. Euthanizing a person based on the society aspect makes sense. With greater and greater emphasis put on managed care today, many doctors are at a financial risk when they provide treatments to patients who are in the dying process. These patients may also feel like not becoming a burden to the society at large, and choose to fulfill a duty – Euthanasia. If the person is in a coma or is brain dead, that person is no use to himself or herself, or society anymore. Euthanasia is a viable method to end an otherwise futile attempt at recovery. The family of the person being euthanized may not want their family members in pain – to suffer. It can be a family duty to do the right thing for the p... Free Essays on Euthenasia Free Essays on Euthenasia Euthanasia is often called â€Å"mercy killing†. It is intentionally making someone die, rather than allowing that person to die naturally. It is sometimes the act of ending someone’s life who is terminally ill, or is suffering in severe pain. Euthanasia is mostly illegal in the world today. Euthanasia can be considered a form of suicide, if the person afflicted with the problem actively does it. The person volunteering to commit the act to that person can also consider it a form of murder. The positive side of Euthanasia is that it ends a person’s suffering in this world. Many physicians and psychiatrists believe that it may a humane act. From a virtue ethics point of view, it may be appropriate. What we seek in human existence is to be happy, and find happiness. Suffering from a terminal illness, or affliction, could inhibit one’s happiness in life. If the goal is to be happy, then Euthanasia would be an answer for this person. Euthanasia may even bring about happiness in that it is what the person desires and wants, in order to no longer to be a burden to his/her family. Also, Euthanasia would stop the pain and not prolong the dying process. In the utilitarian point of view we all have a duty to our happiness, and a duty to the society. Euthanizing a person based on the society aspect makes sense. With greater and greater emphasis put on managed care today, many doctors are at a financial risk when they provide treatments to patients who are in the dying process. These patients may also feel like not becoming a burden to the society at large, and choose to fulfill a duty – Euthanasia. If the person is in a coma or is brain dead, that person is no use to himself or herself, or society anymore. Euthanasia is a viable method to end an otherwise futile attempt at recovery. The family of the person being euthanized may not want their family members in pain – to suffer. It can be a family duty to do the right thing for the p... Free Essays on Euthenasia Euthanasia Euthanasia has been a controversial topic for quite some time but made a huge impact in the media when Dr. Jack Kevorkian sentenced to a 10-25 year prison term for giving a lethal injection to Thomas Youk. Euthanasia, meaning â€Å"good death† is the intentional killing by act or omission of a dependent human being for his or her alleged benefit. People today try to differentiate between the distinction of killing someone and allowing someone to die. When we look at this topic some questions are raised; specifically who gets to decide when you should live or die? At what point does an individual get to end his or her life with active euthanasia, which the immediate cause of death is not the patients’ disease but something that is done or given to the patient to cause his or her death. One argument on euthanasia from a Utilitarianism perspective, says that if the pain of one person is causing pain to others, that it is in the best interest to end that person’s life. If a persons’ life has lost all value and is causing the person nothing but pain, then why not end the pain for them and their families. The philosopher James Rachels states: â€Å"Terminal patients sometimes suffer pain so horrible that it can hardly be comprehended by those who have not actually experienced it†¦ The argument form mercy says: euthanasia is justified because it provides an end to that.† (Velasquez, 2005) Some terminally ill patients are in unbearable pain and/or experience an intolerably poor quality of life. They would prefer to end their life rather than continue until their body gives in. Who is anyone to deny them their wish or right? I believe that the person’s right whether they live or die comes from the mere factor that we have free will and choice. Who is someone to say that you cannot die? A prime example of this controversial topic is about a woman named Teri Schiavo, who spent the last 15 years of her life ...

Written appeal Essay Example | Topics and Well Written Essays - 250 words

Written appeal - Essay Example This allows employees to quit employment anytime they wish and allows the employer to terminate employment at any time within the agreement. Ideally, employment at will is a concept under labor laws that define a contractual relationship where an employer has a leeway to terminate employment without giving any justified cause and without warning. As such, employers can terminate employment at any time without accruing any legal liability. Indeed, the law denies the employee any claim for loss resulting from such employment termination. The same law allows employees to leave their employment without a justified cause or warning. In fact, under employment at will, an employee can choose when and how often they want to work without attracting any adverse legal liabilities (â€Å"General Counsel† 1). Moreover, the employer and employees can agree for the termination and dismissal conditions they choose. These conditions may include allowing employees to choose when and how often they want to work. Notably, after realizing that they have limited legal rights to fight for their termination, employees may choose when and how often they want to work before the dismissal comes. Indeed, the employee is aware that they do not have job security under employment at will and hence they can choose when and how often they want to wor k as they search for secured

Reward Management in Ikea Literature review Example | Topics and Well Written Essays - 1000 words

Reward Management in Ikea - Literature review Example Most organizations use reward management to motivate employees and enhance their productivity thereby contributing to improvement of overall organizational performance. Reward management is further aimed at ensuring internal, as well as external equity. More importantly, it strengthens psychological contract and also for organization to comply with legislation that require organizations to have reward management system (Phil and Cole, 2011, p. 101). Furthermore, reward management provides an organization with a system that enables it to efficiently administer rewards among employees. There are basically two types of rewards: extrinsic rewards and intrinsic rewards. Extrinsic rewards satisfy basic human needs such as security and survival and include raise in pay, better working conditions, and bonuses among others (Wright, 2004, p. 17). Intrinsic rewards aim at satisfying higher human needs such as development and esteem. The vision of IKEA is creation of better everyday life for man y people including its employees. Its human resource philosophy is that employees can be more productive and committed when the company is taking care of their needs. Like many Swedish companies, IKEA adopted a paternalistic stance towards the needs of employees and employees themselves that seeks to empower employees (IBS Center for Management Research, 2012). The application of its human resource philosophy is more or less standardized and reward policies are applied to all employees uniformly. Its human resource policies are aimed at making relationships between employees open and strong, and employees are encouraged to excel by taking care and supporting each other. In a nutshell, IKEA’s human resource policies seek to guarantee uniform and high quality standards in order to support its future developmental and business challenges (IBS Center for Management Research 2012). IKEA’s reward management system is designed to reward employees more or less equally and is i nformed by the need to make relationships between employees open and strong. Equity theory is relevant to IKEA’s reward management system. Armstrong and Stephens (2005, p. 92) note that this theory suggests that employees will be motivated to engage in actions that they perceive that the conditions of the situation are just and fair and which will ultimately benefit them. In addition, this theory holds that a person will be motivated towards organizational goals if they feel that the amount of effort being put forth commensurate the outcomes or the benefits being received (Byron and Khazanchi, 2010, p. 3). Considering that IKEA’s human resource policies are aimed at creating open and strong relationships among employees and empowering them, equity theory are more relevant to their reward management system. This is because it requires that this system regulates equity and help employees to maximize their outcomes as a whole. Looking into IKEA’s human resource pol icies also shows that the organization is keen to avoid distress among employees which might hamper its efforts towards attaining its goals. Equity theory will therefore be relevant to creating equal relationships among parties in the workplace thus avoiding distress. Equity theory recognizes commonly contributed inputs in organizations to include labor, personal investment, time, dedication, and skill (White and Druker, 2000, p. 81). Application of this

Traditional and Modern Theories of TAM proof reading Essay

Traditional and Modern Theories of TAM proof reading - Essay Example Tense, aspect and mood are all features of verbs, which are words used to describe actions or states of being. Plato defined verbs as denoting action whereas Aristotle described them as having â€Å"a composite sound with a meaning, indicative of time† (Binnick, 1991: 3). Thus, tense is the foremost feature of verbs. There are also other features such as number, person, and voice, but attention in this study is given to tense, as well as aspect and mood. Traditional English grammar in general derives from classical Greek and Latin. Within this framework, each word is assigned to one of usually eight parts of speech, and numerous rules are learned for composing sentences. This was a popular approach for learning the language until fairly recently because its effectiveness has been questioned. Modern theories have shown many deficiencies of the traditional grammar approach, which is typically complex and highly prescriptive. In practice, "There are matters of style, matters of change (albeit extremely slow change) and matters of dialect" (Bauer, 2007). Furthermore, substitution frames for example, do not always help, and they can become cumbersome for structuralists to define for all instances of word occurrences. Moreover, differences between form and function can arise. Descriptive grammarians on the other hand attempt to describe the language as well as explain why it is the way it is, and various theoretical models are used for the purpose. In this regard, Chomskys work on transformational generative grammar was very significant in shaping modern linguistic theories. The modern discipline of generative linguistics made its appearance from the 1960s. However, as many linguists have experienced, modelling verb systems of many languages is a very complex affair. Bache et al., (1994) view the semantic complexity of language-specific categories as â€Å"the main problem in the analysis of any verb system†