Under Australian skilled migration program, skilled overseas workers can either apply as independent migrant or could be sponsored by any relative in Australia. The applicant either can be nominated by state or territory government. To become eligible under skilled migration category applicants have to go through the points based selection criteria set by Australian Immigration Department. Candidates are assessed using the following requirements: When a company continues to be making losses for several years, the financial position does not present an authentic and fair view of the state of the affairs from the company. In such a company the assets are overvalued, the assets side with the balance sheet contains fictitious assets, useless intangible assets and debit balance inside profit and loss account. Such a situation doesn't depict a real picture of financial statements and shows an increased net worth than what the real net worth ought to be. In short the organization is finished capitalized. Such a situation brings the necessity for reconstruction. Reconstruction can be a process through which affairs of the company are reorganized by revaluation of assets, reassessment of liabilities and also by writing from the losses already suffered by reducing the paid up price of shares and/or varying the rights attached with different classes of shares. The object of reconstruction is usually to reorganize capital in order to compound with creditors or effect economies. Such a process is known as internal reconstruction that's carried out without liquidating the company and forming a replacement. Profit is divided into pretax profit and after-tax profit according to its forming process. Profit before tax is also called total profit; Pre-tax profit minus income tax, i.e., profit after tax, also known as net profit When a company continues to be making losses for several years, the financial position does not present an authentic and fair view of the state of the affairs from the company. In such a company the assets are overvalued, the assets side with the balance sheet contains fictitious assets, useless intangible assets and debit balance inside profit and loss account. Such a situation doesn't depict a real picture of financial statements and shows an increased net worth than what the real net worth ought to be. In short the organization is finished capitalized. Such a situation brings the necessity for reconstruction. Reconstruction can be a process through which affairs of the company are reorganized by revaluation of assets, reassessment of liabilities and also by writing from the losses already suffered by reducing the paid up price of shares and/or varying the rights attached with different classes of shares. The object of reconstruction is usually to reorganize capital in order to compound with creditors or effect economies. Such a process is known as internal reconstruction that's carried out without liquidating the company and forming a replacement. The changes, in part, have been in a reaction to previous government immigration policies which allowed a big influx of low skilled migrants. ??Previously and currently many individuals, completing short vocational courses, and also at times with low English capabilities, are permitted to obtain permanent residence like a skilled migrant.?? The new rules will be put in place to attempt to address this problem, to ensure that skills needs, in contrast to educational needs, will drive immigration policy and outcome money for hard times. It should put to a conclusion an influx of foreign students, currently gonna Australia to review for short vocational subjects and subsequently being granted permanent residency on the basis of that training or study.