The Inconspicuous Scorn Of The Gentry s Acquisitive...

The Inconspicuous Scorn of the Gentry’s Acquisitive Pursuit of Marriage Through strictly observing the final chapters of Pride and Prejudice, it may come across that Jane Austen’s intent was to glorify the marriages of the main characters, in what might seem like an unrealistic or unjustified way. This exaggerated scenario in which the main characters get married to the men they love, and enjoy the copious wealth of their husbands, makes it possible for a reader to jump to the conclusion that Austen wrote the novel to argue that wealth and love are tied together. Critic Mary Poovey interpreted the fairy tale ending as such, claiming that Austen’s goal was to â€Å"make propriety and romantic desire absolutely congruent.† However, taking into†¦show more content†¦Longbourn is a symbol that stands for all of the superficial and fickle regions inhabited by the high society of late eighteenth-century England. Austen defines the mindset of the charact ers that live in Longbourn with the very first sentence of the novel, with the claim that â€Å"It is a truth universally acknowledged, that a single man in possession of a good fortune must be in want of a wife.† This line is so perfect for establishing the type of witty sarcasm used by the narrator to mock the society of Longbourn, and keep the story flowing comedically. This opening line, along with the novel’s first conversation between Mr. and Mrs. Bennet, brings the reader face to face with the perception of the role of marriage in the novel. The Bennets discuss the arrival the wealthy Mr. Bingley, and what immediately comes to Mrs. Bennets’ mind is her plan to marry off one of her daughters to him. Austen takes advantage of this opportunity to demonstrate the standards of Mr. Bennet, who may be the only logical compass the reader has to reference, more so than the overly-optimistic and sicklysweet narrator that Austen cleverly develops. Mr. Bennet is one of the only characters throughout Pride and Prejudice that seems to care about, or perhaps more

Hag’s Nook by John Dickson Carr Free Essays

Hag’s Nook is a detective story by John Dickson Carr that is first published in 1933. It is a mystery type of novel and the first to feature in the series of detective Gideon Fell. The author, John Dickson Carr was born in 1906 in Uniontown, Pennsylvania. We will write a custom essay sample on Hag’s Nook by John Dickson Carr or any similar topic only for you Order Now His first published detective novel, It Walks by Night, was published in 1930 featuring the Frenchman Henri Bencolin. Apart from Dr. Fell, whose first appearance was in 1933 in Hag?s Nook, Sir Henry Merrivale, who debuted in The Plague Court Murders in 1934 was Carr?s other series detectives. The synopsis goes this way: Young American Tad Rampole is travelling in England who meets and falls in love with Dorothy Starberth, in a chance meet on a railway platform. Within a short period of time, after an introduction letter made by Rampole to Dr. Gideon Fell both become engaged in the affairs of the Starberth family. Dr. Fell discovers the truth behind the legends after Martin Starberth is murdered. Chaterham Prison was the legend in the village. Abandoned for a hundred of years and had kept its secrets of extreme fear and death. The Starberths die of broken necks. He must arrange ancient superstition from modern-day malice to guarantee that the responsible criminal does not go and not punished. This novel emotionally moved me clearly to the days of reading Ripper. It was quite interesting to imagine the traps and see how the villain lured their victims. Lastly, I am definitely recommending this novel Hag’s Nook for those who likes reading detective stories that is full of suspense and mystery. How to cite Hag’s Nook by John Dickson Carr, Papers

The Trip To Halawa Valley Essay Research free essay sample

The Trip To Halawa Valley Essay, Research Paper The Trip to Halawa Valley By: Jay Babson # 8220 ; The Trip to Halawa Valley, # 8221 ; is a short narrative written by Lynne Sharon Schwartz. The narrative is about a boy succeeding and acquiring married in Hawaii, and the reunion of his divorced parents. The parents become the chief focal point of the narrative when the boy suggests that they go on a trip to Halawa Valley. In this narrative Schwartz is seeking to demo people that one time you make a determination it is really difficult to turn back on that determination. With all the characters, except for the briefly mentioned honeymooners, Schwartz shows how determinations made by a individual or a twosome are difficult to turn back on. An illustration of this is Paul # 8217 ; s parents. Lois and Jim are brought back together in Hawaii, and seek to rekindle their love for each other. We will write a custom essay sample on The Trip To Halawa Valley Essay Research or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page After their trip though, they realize it can non be done, and portion in their ain separate ways. Schwartz does a really good occupation of demoing the reader the experience she is seeking to convey. She does this by utilizing a couple different characters throughout the narrative. The chief 1s she uses are the parents, and that is the really obvious illustration. A few other illustrations are non as clear, but they do demo how determinations are an of import factor in life and one time made are really hard to tur n about. Using Paul’s brother Anthony, Schwartz shows that one time he made the determination to fall in the Hare Krishnas there was no turning back, even if that meant non pass oning with his parents any longer. Schwartz besides uses Paul # 8217 ; s other brother Eric. When Eric announced that he was homosexual, his parents had to do the tough determination to either support or non back up his pick in gender. Schwartz develops the characters really fast, but in making so makes the narrative move faster. Throughout the narrative the characters are being developed through the ideas of both Lois and Jim. They talk about their childs and how one of them died at age 11 due to a encephalon tumour. Schwartz besides makes Lois develop Jim, and Jim develop Lois. She does this by doing them reminisce about their past together. The struggle in this short narrative is between the parents of Paul. They both do non cognize whether or non to acquire back together. Throughout the narrative they both intimation at acquiring back together, and one time they even made love. After they did though, Lois realized that she was incorrect in doing love to him and that they could neer acquire back together. Schwartz uses their unsuccessful efforts at making Halawa Valley as a comparing to the relationship. This is done by demoing how the two efforts at making the vale failed, and H

We live in a world of armed conflict. Explain what differing Christian attitudes to armed conflict might be Essay Example

We live in a world of armed conflict. Explain what differing Christian attitudes to armed conflict might be Essay There have been more than 127 wars since 1945. In some areas of todays world, there is nothing but violence. The majority of the news on television is based on the events in Afghanistan and we will never forget the terrorist attacks on New York and Washington D.C. on the 11th of September 2001. Justice has to be sought and then peace and respect will come about. Every Christian should want peace and justice but many of these have different opinions and methods in how to achieve this.Christianity was founded on peace, emerging from its ethic of love. Jesus said to his apostles Peace be with you and we must put his words into action. This peace must guide the destiny of humanity, if we do not find peace; destruction and evil will continue to spread. Pope Paul VI said, Never again war! Peace must guide the destiny of the peoples and of all humanity. The Gaudium et Spes issued by the Second Vatican Council in 1965 states, There will never be a truly human world for everyone until all dev ote themselves to peace. The Catholic Church also teaches that because war is a matter of human freedom, it is a moral question; there are circumstances in which war can be justified, just as there are circumstances in which war cannot be justified. The decision about the justification of war is based on the basic principles of human dignity and respect for human life.These, taken together, offer the basis for what is known as the Just War teaching. Traditional Christian teaching presents these criteria for determining that entering a war is moral. Other criteria must be observed if carrying on the war is moral. What we do in the course of the war must be proportionate to the rights we are trying to defend. This is the Just War Theory. This was an attempt developed by St. Augustine to articulate the right to self-defence and its aim was to limit the occasions of war and the effects of war once it started. Augustine distinguished between private morality, turning the other cheek, and social morality, protecting the common good. There are a number of principles effecting the decision to go to war; the Jus Ad Bellum. This is for the war to be a just cause and to confront a real and certain danger and not for gain or revenge. This means that the war must be for a just cause, not for greed, revenge or power. Our motivation at all times must be love. Those with responsibility for the public and authority must also declare the war.The war cannot be declared by private groups or individuals and the proper authorities must affirm it. During the conflict, the right intention must be acknowledged and this is the pursuit of peace and reconciliation, including avoiding unnecessarily destructive acts or imposing unconditional surrender. For war to be justified, all peaceful alternatives must have been exhausted these include politics and sanctions. The probability of success must also be considered and this should prevent any irrational resort to force. However, even when y ou consider the doctrine of The Just War we have to consider the consequences of war, some may be good, other will be bad. The good would be that the just cause will occur but the bad would more destruction, increased insecurity and a great death toll. St. Augustine said All war, even a just war, is the result of sin, so even if the is some good achieved, there will always be sin. Augustine highlights the seriousness of war and even taking one life is serious.In 1992, the United Kingdom spent à ¯Ã‚ ¿Ã‚ ½23.5 billion on defence compared to à ¯Ã‚ ¿Ã‚ ½7.9 billion on education. Many Christians question the basis for these decisions when our aim is ultimately to achieve peace and justice. More money is spent on military weapons than on educating the future leaders of the world. According to Trà ¯Ã‚ ¿Ã‚ ½caire in their report on November 2001, $800 billion was spent in the year 2000 on the arms industry, while $9 billion could eliminate starvation and malnutrition. Many Christians fin d this shocking as the amount of money that could eliminate starvation and malnutrition was spent 90 times over on the arms industry. In the creation stories, we are told that all life is good and sacred; man is made in the image of God.So, if we kill others, we will be punished. It is written in Genesis 9:5-6 If anyone takes human life he will be punished. Man was made like God he will be punished. Man was made like God, so whoever murders a man will himself be killed by his fellow man. This is like Jesus teaching, is attitude is one of non-violence, he does not advocate violent protests against injustice, at Jesus arrest he says, Put your sword back. Those who take up the sword will die by the sword. So, if you wage war and become a murderer, you will in turn experience what you are doing and you will be killed. True justice cannot be achieved in this way. Not everything that is done in the pursuit of justice is automatically moral. To inflict injustice in order to defend justice is irrational.This is the view of pacifists. Pacifists today say violence is never acceptable, they say it breaks the fifth commandment, Thou shall not kill. It is totally against the Christian idea of love. Love thy neighbour as thy self, and also love your enemies and pray for those who persecute you. (Luke 6:27-36, Matt 5:43-48). The Quakers are people who take the biblical ethic of love literally and, they do not take up arms against anyone. In 1660, a declaration given by the Quakers to King Charles II read, We utterly deny all outward wars and strife, and fightings with outward weapons, for any end, or under any pretence whatever; this is our testimony to the whole world. This is what the pacifists believe and this is their declaration to what they consider to be right. Pacifists follow Jesus example and they believe that violence cannot be solved by violence. He says, if someone slaps you on the right cheek, let him slap you on the left cheek as well, dont make sin worse by r epeating the offence and do not retaliate. These Christians think that war in itself is a wrong action, it is unchristian and we should never resort to violence. Martin Luther King was a pacifist and his attitude to achieving justice was that you do not need to use violent means to achieve justice. He said, I now believe that the destructiveness of modern weapons totally rules out the possibility of war ever again achieving a negative good.War has always been a feature in religious history and many Christians have justified wars by claiming it is the will of God. A crusade is a Holy War. The crusades were a series of wars undertaken by Christians in the eleventh, twelfth and thirteenth centuries. They mainly centred on the Holy Land of Palestine. Most Christians today deeply regret these wars in the name of Christ as they regret their treatment of the Jews and Muslims at this time. There are four beliefs behind these crusades, the reason for the war is a holy one, God will guide and lead the armies, the crusades are on Gods side: the enemies are against God, and finally, the war must be carried on to the bitter end. All the crusades think that God was on their side and the Jews were expecting a Holy War when they were expecting a Military Messiah. However, they did not get this fighting leader; instead they got a peaceful and loving leader who did not resort to violence. Jesus rejected violence and he taught that we should love our neighbour. He said that God loves everyone, he does not hate the enemies and he taught us to love our enemies.Some Christians think that war is acceptable because it is our duty to defend the innocent and the most vulnerable. On many occasions Jesus defends the vulnerable because of their faith in God. He cured the woman with a haemorrhage, Jairus daughter, the man with the withered hand and the epileptic boy because of their faith. Jesus also healed these because they were all innocent and Jesus felt compassion and sympathy for the m. These Christians who think that it is our duty to defend the innocent believe that if the innocent and vulnerable are killed or hurt in war that justice should be sought and sometimes these Christians think that the only way that justice can come about is to go into war. They choose this as the lesser of two evils. They believe that every person has a right to self-defence. These Christians also think that leaders like Hitler should be brought to justice and they feel that they should intervene when there are acts of injustice. Bonhoeffer was one of these Christians.Many Christians think that the aftermath of war is never justified, the peace obtained after war is not true peace. People will be weary of one another; there will not be any trust, as the old enemies will be living together. Fear and hatred will rule and evil will continue to spread. There is mass devastation and destruction and it is not necessarily a real victory. The environment is ruined and peoples culture and b ackgrounds are destroyed. War can do much more harm than good; in fact it may bring more evil than it does good. However good can be achieved through war. Evil dictators like Hitler can be overpowered and defeated through war, not through killing him but by making him concede the war. So, the aftermath of war has its good and bad points.Saint James says that there should never be a war, and we can avoid armed conflict by looking at the causes of war. He thinks that if the causes are rooted out then there will never be any wars. This is an extremely valuable teaching for all. The causes of war must be rooted out. These include injustice (especially when the poor are exploited by the rich and the powerful), the desire for power, contempt for others, envy, distrust, pride and selfishness.Taking all of these Christian perspectives into consideration I believe that they all have their Christian morals but they have different attitudes to war and different ways of achieving justice. Oscar Romero believed that the innocent should be defended and he wanted peace. He said, Peace is not the product of terror or fear. Peace is not the silence of cemeteries. Peace is not the silent result of violent repression. Peace is the generous, tranquil contribution of all to the good of all. Peace is dynamism. Peace is generosity. It is right and it is duty. Everyone wants peace and justice, but can this be achieved through violence and war?Can nuclear war ever be justified for a Christian?Many Christians also have differing opinions on this controversial issue. Everyone knows of the tragic Hiroshima bombing and if another atomic or nuclear bomb is dropped there would be severe and extreme consequences. We have to ask ourselves, can a nuclear war ever be justified for a Christian?Some Christians think that nuclear war cannot be justified. If a nuclear war broke out, millions of people and perhaps the whole population of the planet would die. Any war in which nuclear weapons are use d could easily become an all-out war. Many Christians think that this would be undoing Gods work as he created the world and us. The effects are disturbing and devastating, thousands of innocent people are killed, lives are ruined, the environment is ruined and future generations would be at risk from the lethal gamma rays and future attacks. These Christians also think that nuclear weapons are so evil that we must disarm them and it is evil even to possess them. The Church condemns total warfare by the use of weapons of mass destruction, such as nuclear weapons. Destroying whole cities or vast areas of land is a crime against God and against humanity, which deserves absolute condemnation. The Catholic Church is against all nuclear war. A report from The Church and the Bomb in 1982 said, The evils caused by this method of making war are greater than any conceivable evil which the war is intended to prevent. This supports the argument that that you cannot achieve good by evil means.F urthermore, if we have nuclear weapons, we would be a target in a nuclear war. The enemies would want to strike first to destroy our nuclear weapons. Then, we would no longer be a threat to them. Nuclear weapons do not defend you against a nuclear attack. There was no defence against that. In Hiroshima, the Americans wanted unconditional surrender through the nuclear warheads and this is also against the Just War theory. However, before the B-29s took off, William Downey, a recognised Chaplain said, Killing is the name of the game; those who dont accept that have to be prepared to accept the alternative Defeat. This can be taken as a reason which justifies war, but it is not a view of all Christians.Even in warfare there has to be Christian morals and limitations. Many Christians think that the excessiveness is not necessary; bombs should be aimed at military camps, not at civilian areas. A survivor of Hiroshima said, All the skin came off my face and then all the skin on my arms a nd hands fell off. The sky was black as night. Many people were blinded and houses were demolished. No one will ever know exactly how many people were killed in Hiroshima. It is said that about 80,000 people died; either of the immediate effects or of exposure to gamma radiation, which killed victims in 20 to 30 days. The Hiroshima city government said that the true death toll was 140,000 by the end of 1945. The Official US Strategic Bombing survey believed that probably more people lost their lives by fire at Tokyo in a 6 hour period than at any time in the history of man. This is shocking and it shows the dramatic and horrendous effects of a nuclear bomb. There are enough nuclear weapons to wipe out all life on earth. If there was 7/8 of a reduction in the worlds nuclear weapons, there would still be enough to obliterate humanity. This illustrates how much nuclear weapons the world has and how much destruction a percentage of it can cause.However, there are some Christians who thi nk that nuclear war can be justified. There are also many arguments in favour of nuclear war. Firstly, many Christians think that the ends justify the means, peace can be achieved by nuclear war but we must make sure that this is genuine peace, not peace of a threatening nature. By using nuclear weapons in war, lives can be saved. After the Hiroshima bombing Stimson said that there would have been more lives lost if there was a long war and what they did saved lives. Nuclear war is quick and effective.Also, there have been no world wars since nuclear bombs were invented, this could be because they are scared to fire at each other in case they miss or because some peace has been found. If there is a war and you break the enemies will to fight, the war would be over and fewer lives would be lost.Taking all of these Christian views into consideration, I think that there are more valid arguments against nuclear war than there are for nuclear war. Even taking one life is serious, so, if a nuclear weapon can kill thousands and thousands of people this is horrific. War is never good; even if it is made shorter it is just as bad as you are doing an act of evil. However, the world will continue to hold nuclear weapons and the supply will continue to build up. We just have to hope that none need to be fired.

The United States and Manifest Destiny essays

The United States and Manifest Destiny essays During the late eighteenth and early nineteenth centuries, the United States saw many problems come and go. Some problems were more important than others. However, all led to the further division of American politics. The most divisive issue in American politics during this time frame was the idea of Manifest Destiny or territorial expansion. Manifest Destiny was the idea that it was the United States' destiny to take over all of North America from the Atlantic to the Pacific. Most of the public was in favor of territorial expansion, though some politicians felt it contradicted the constitution. Strict constructionists were against territorial expansion, while loose constructionists felt expansion was the United States' destiny. Strict constructionists centered their platform around the fact that the constitution never directly states that the federal government has the right to acquire land. Those that view the constitution liberally, or loose constructionists, counter that stand by claiming the right of expansion falls under the government's implied powers. Loose constructionists and strict constructionists are the main divisive factor for the United States political parties: the Democrats and the Whigs. One of the supporters of Manifest Destiny was Democrat, James Polk who served as president from 1844 to 1848. Polk was strongly in favor of expanding the United States to the Pacific. This opinion won him the election of 1844. That year Henry Clay, a well known and loved figure in American politics, ran and was expected to blow, little known, Polk of the charts. The only problem was Clay was nervous about territorial expansion. He did not want with Mexico and was unsure of the constitutionality of expanding. Polk won because the majority of the public believed in Manifest Destiny. Along with influencing presidential elections, Manifest Destiny played a role in the slavery issue. Entering the mid eighteen hundred slavery was a ...

How to Apply for a Research Grant

How to Apply for a Research Grant How to Apply for a Research Grant There are several things you need to do when preparing a research grant application. These include the following: Plan the application process from the very beginning. This means setting aside time to research funding sources, as well   as working out the basic details of your project (e.g., proposed budget and timeframe). Read your funding organization’s submission guidelines and use these to write up your application. Try to use clear, concise language throughout. Justify each aspect of your application, including your methods, costs, timescale, what your research will achieve, and why you have applied for a grant to fund your work. Proofread your application carefully before submitting it. And to help you through this process, we’ll now look at each of these points in more detail. Read on to find out more. 1. Researching a Research Grant To maximize your chances of success when planning a grant application, you need to find a funder that suits your situation and research interests. To do this, you should: Set a schedule for the application process that you can work towards. Work out your basic proposal, such as the budget and research aims. Look for funding opportunities in your subject area. Make sure to check eligibility guidelines and the funding organization’s objectives. Speak to colleagues about your grant proposal, especially if you know anyone who has received funding for a similar project in the past. The idea is to find the best funder for your project. Once you have done this, try to get as much relevant information as possible together before you begin writing up your application. 2. Writing Up Your Application Before you write up your application, read the funding organization’s submission guidelines carefully. These will set out how your application should be written, formatted, and structured. The format here may vary slightly, but most research grant applications should include: A title page featuring your name(s) and contact information. An abstract or summary of the proposal. An introduction with background information and research aims. A short literature review of the research you are building upon. Proposed methods and expected results of your research. A budget outline for how the grant will be spent. A timeframe for conducting the research. In terms of style, a research grant application should be clear, concise, and formal. If possible, though, try to keep the language simple and avoid jargon unless it is strictly necessary. 3. Justifying Your Choices While writing up your application, make sure to explain your thinking. This is vital because you may be competing for the same grant as many other academics. As such, you need to show that you have considered each aspect of your proposal in detail, including: How your research fits with the funding organization’s interests. Why you need a grant for your research and how it will be spent. Why the methods and timescale you have proposed are appropriate. How the research will contribute to knowledge in your subject area and/or how it could be applicable in â€Å"real life† situations outside academia. 4. Editing and Proofreading Finally, always leave time for editing and proofreading before you submit your application. This will allow you to seek feedback from colleagues and make revisions accordingly. In addition, once you have made any final revisions, you may want to ask someone to give your application one final check (perhaps even a professional proofreader). This will ensure the final document is 100% typo free, demonstrating valuable attention to detail in the process.

Great depression in USA Coursework Example | Topics and Well Written Essays - 2250 words

Great depression in USA - Coursework Example The other great expansion was amount of buyers. All this factors that experienced great expansion led to the increase in buying public utility stocks contributing to a rise in their prices. In October 1929, America experienced a dramatic fall in utility price. The decline in utility price caused panic among the margin buyers and they had to sell all the stocks (Divine et al., 751). 2. What was the legacy of the New Deal? The legacy of the New Deal is that it played a crucial role toward alleviating the worst suffering of the depression. For example, the early New Deal contributed in assisting bankers and industrialists (Divine et al., 762). Moreover, the early New Deal tried to assist large farmers and members of the labor union (Divine et al., 762). However, the New deal was still being held captive of the conventional thinking of the day. It is not possible to say that the New Deal would have ended the depression basing in the historical facts. For example, development of the World War II interrupted the process. 3.  How did Franklin Delano Roosevelt’s political philosophy affect his New Deal? Roosevelt political philosophy contributed to a decline in his New Deal (Divine et al., 751). He played a crucial role in defeating a number of conservative Democratic congress representatives and senators. Roosevelt’s target gleefully changed the interference with local politics. Divine et al., (774) indicates that only one of the men that Roosevelt sought to defeat lost in primaries. The worst blow of Roosevelt’s New Deal came in the economic sector. Most of the business executives claimed that Roosevelt recession reflected a lack of confidence in FDR’s leadership hence leading the New Deal to become ineffective (Divine et al., 751). 4. How did Herbert Hoover deal with the depression? Hoover blamed the depression on foreign policies. He rejected various proposals for bold government and relied instead on voluntary cooperation within the b usiness of which he used to halt the slide (Divine et al., 754). Moreover, he called various leaders associated with industries to the White house and secured agreement to maintain prices and wages at a high level. Hoover also believed in voluntary efforts that played a significant role in relieving the human suffering brought about by the depression. On this case, he called private charities and local governments to help in offering clothes and food to the needy ones. With the request of Hoover, Congress managed to cut taxes in an attempt to restore public confidence. He also managed to adopt a few federal works projects such as boulder dam in order to provide jobs for the young people (Divine et al., 754). 5. What were the weaknesses of the New Deal? Through the New Deal, Roosevelt managed to develop the Works Progress Administration (WPA). Through this organization, the burden of unemployment eased but it failed to overcome depression (Divine et al., 760). This means that one of the weaknesses of the New Deal is failure to overcome depression. Through the New Deal, the WPA filed to prime the American economy by increasing consumer purchasing power. The other weakness associated with the New Deal is that it led to a growing frustration and the appearance of more radical alternatives. These alternatives challenged the conservative nature of the New Deal that made the FDR to shift to the left (Divine et al., 760). Part 1 (B) What were the forces that caused the stock market to crash? According to the article, one of the causes that led to the

The theory to the Study of International Relations Essay

The theory to the Study of International Relations - Essay Example It is worthwhile to take a look at the above definitions and examine whether International Relations truly reflect the emotions and desires of the people of the erstwhile Soviet-bloc. It could help to understand the principles of Realism, Marxism, Liberalism, and Constructivism, the major international relations theories to substantiate this study. Equality was what it preached. No doubt, the business class had to share its spoils with the working class, but on the whole, Marxism sought to suppress the feudal system of class discrimination. Realism was more State oriented. It chose to look at national interests more than others. Security and power is their aim. Despite the fall of the cold war, America is seen as the global policeman. Despite rising poverty and unemployment at home, America is more preoccupied with interests elsewhere. Liberalism is what the younger generation craves for. Independence and basic needs and wants are their vision. In the light of the revelation, it has become clear that the critical theory of International Relations is a jig-saw puzzle indeed. In the words of the Mahatma: â€Å"Interdependence is and ought to be as much the ideal of man as self-sufficiency. Man is a social being. Without interrelation with society, he cannot realize his oneness with the universe or suppress his egotism. His social interdependence enables him to test his faith and to prove himself on the touchstone of reality† Mahatma Gandhi, 1929, sums up the real thoughts of our young couple at Trafalgar Square.... There are two schools of thought, one looks to strengthened international law and international organizations to preserve peace; the other emphasizes that nations will always use their power to achieve goals and sees the key to peace in a balance of power among competing states. (R. Aron, H. J. Morgenthau, F. S. Northedge, and M. J. Grieve, www.answers.com/topic/international-relations) In other words, International Relations are the relationship between people of different races and divide. The world order is changing. Technology has brought people much closer. There is a general consensus that mankind is one and that this world is for all to share it equally. So what was it that attracted the majority of communist nations turn to the Liberals and Realists Critical Analysis In the context, it is worthwhile to take a look at the above definitions and examine whether International Relations truly reflect the emotions and desires of the people of the erstwhile Soviet-bloc. It could help to understand the principles of Realism, Marxism, Liberalism, and Constructivism, the major international relations theories to substantiate this study. Realism is commonly defined as a concern for fact or reality and rejection of the impractical and visionary. (http://en.wikipedia.org/wiki/Realism#Realism_in_international_relations) Realists believe that hard power, a concept used in realism, refers to national power through military and economic means. This holds true with the foreign policy advocated by the United States. Realism focused on States and national interest. In a speech before his nation launched an offensive against Afghanistan, President Bush said, "We are supported by the collective will of the

The poem English Book by Jane Weir Essay Example for Free

The poem English Book by Jane Weir Essay What do you think the poet is saying about some teachers of English and the way they mark a students book in the poem English Book by Jane Weir? How does the poet present her opinions? (18 marks) Jane Weir seems very unimpressed by the way her sons English teacher marks his book. She is describing her visit to a Parents Evening and starts by plunging straight in with the pronoun they to begin the poem in the middle of the consultation. The first two lines express her surprise that they seem unaffected by their years in a classroom, all sitting upright and correctly to meet the mother. She lists the procedures that teachers have to go through and the words or so they say suggest she has little respect for the latest thinking or belief in the criminal checks that are made to protect children. One particular teacher, probably the boys English teacher, shows the mother his English book, her eyes showing a length of pity that the boys spelling, punctuation and general presentation are so weak. The mother is appalled that his writing has been butchered by the teachers red pen. The teacher has very little understanding that (according to the mother) she is killing the childs creativity by concentrating so much on his technical mistakes. The poet, probably writing from real experience, cannot get the teachers to understand that her son has ability with words and that they are not appreciating or encouraging his ideas. The whole poem is full of imagery. The teachers are compared to books: they bear no tide mark and have perfect spines probably unlike the condition of the exercise book that the mother is about to be shown. Later metaphors (lines 13 to 15) seem to describe textiles, in the same way that Jane Weir weaves fabric imagery into her poem Poppies selvedge, rolls out flecked with heartfelt perhaps to express the situation from a womans point of view. The mother is obviously very angry at the way her sons written work has been treated and an extended metaphor compares the teachers marking to the violent acts of a butcher reducing a carcass to lumps of bloody meat. Red punctuation marks have chopped up his words; circles around his misspelt words are nooses to hang his confidence; her pen is an axe to destroy his sentence structures. The resulting page is piled with offal. After the butchering, only the inedible (unreadable) parts are left, nevertheless the mother believes her son is very intelligent. She sees the oracle in his entrails and the jazz /of his sequencing would seem to describe a lively imagination at work. From the mothers point of view the excessive emphasis on the importance of technical accuracy is harming the boy and the teacher makes little effort to listen to the mothers concerns or to see anything worth praising in the boys writing. Described metaphorically as a starved lion-cub waiting for a word kill, this final image presents a child, waiting hungrily to experience and enjoy language, but being starved by a teacher who cannot see what beats at (the) centre of his writing.

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Living in today’s American society is a blessing and a curse. Never has information been so easily attainable, knowledge is literally at our fingertips, that being the blessing. However, so are advertisements, movies, songs and general media that are coming at us so fast that we have no idea how to handle it. The average American is subjected to about 3000 ads per day (Kilbourne, 2006). The curse is what it does to our generation’s ideal perception of the perfect body, advertisement being the biggest culprit of them all. Hyper sexualized women and men in the media are the reason that 80% of children by the age of ten years old are afraid of being fat. According to a recent study in Spain found that adolescents consume an average of 3 hours to 3.2 hours a day of television on weekdays and weekends, respectively (Bercedo Sanz et al., 2005). Children are still in their developmental stage, their brain and ideas are still forming which is why they are so easily targeted. Television, magazines, films, billboards, and the like frequently offer a distorted vision of the world (Bercedo Sanz et al., 2005; Shrum, 2009), and it may be difficult for children and adolescents to distinguish whether what they see is real or not, so that they are more vulnerable to the messages transmitted (American Academy of Pediatrics, 2001). Men and women are each targeted very differently in media. Although sex sells, it is the image in the advertisement itself that is what is engrained in our minds. Media tells us that wome n are supposed to be skinny, dainty and delicate. Whereas men they are supposed to be big and strong so that women will faun all over them and their muscles. These images are making young children’s self-esteem plummet way faster in th... ...ian body builder Aziz Sergeyevich Shavershian is considered a god amongst men in the body building community. He died of a heart attack in a sauna due to steroid abuse while on vacation in Thailand. Why people consider him a hero is still a mystery. In the media the seemingly over weight men never get the posy and are never taken seriously. Men must be stern chiseled and highly sophisticated. Not only that but they must also take charge and be animalistic, women in the media are often portrayed as objects for the men’s pleasure. Media is a vessel in which women and men a like use in order to try to better themselves. In trying to duplicate what they see they really are only causing themselves heart ache and emotional and psychological damage. Until we can passively look at media and still be happy with whom we are; we as a society can never be happy and healthy.

Drug abuse Essay

The policy in Switzerland seems to be a success because in the last 10 years there has been an astounding reduction in new users, 82% in fact. Addicts are offered heroin on prescription, access to â€Å"shooting galleries†, needle exchanges and oral methadone. This medicalised drug use has removes its glamour, making it trivial and less appealing. The British government however takes the view that allowing drug consumption rooms risks increasing levels of dealing and anti-social crime. This is the disadvantage currently obstructing the government following suit. The doctor thinks that some users have turned round their lives as a result of this treatment. They come off heroin because of the boredom of routine and drudgery. In addition to the professional opinion, a more personal outlook given by a former addict stated that it should be done in very controlled conditions and only used as a last resort. As I saw on the video, drug abuse has been a problem for centuries and I personally do not see a situation where the world will be free of drug abuse. This is because, when the word drug is defined we mean a medication and there are many legal drugs that are medically prescribed for the treatment of the ill. Drugs such as morphine and paracetamol can also be misused, and the abuse can lead to deaths. In this sense the problem of drug abuse can never be completely eliminated because people will just find another drug to abuse. However, one must be cautious when reading the newspapers as it is likely to be biased. Not everything must be taken into account as it is not likely to be authentic or reliable. To a certain extent not all drugs are as bad as each other; some drugs bring about more harm than others. In other ways, if particular drugs are abused constantly and in heavy quantities they can cause severe consequences, such as tobacco for example. Particular notice needs to be taken of Danger Ratings and the seriousness of heroin addiction. More should be done to prevent this, by tightening rules and regulations and giving harsher punishments to put off new users and give help to existing addicts. Both sources offer contrasting methods for dealing with the problem. The first method, calling upon the government to update the system may not be taken into consideration by some politicians as they do not want to lose votes. However, if it is considered and action is taken, it is a worthwhile action. The second method calling upon softer laws can be seen as helping in some ways, but mainly making it easier for drugs to be abused. In my opinion, the government should tighten rules and regulations for drug abuse and crackdown on Drug related crime, reducing the usage of drugs, and also supply help for the addicts to stabilise their lives. Politics and the law are barriers to both approaches because each method has to gain the Governments approval prior to the action taken, this may prove difficult. This is due to the fact that political parties view their own positions in government more precious than the welfare of the public. As a result of this, they are more concerned with losing votes rather than losing lives. As a whole, drug abuse and addiction is a problem that cannot ever be eradicated completely but it can be controlled and reduced, particularly with certain drugs. As mentioned previously, there are options available to control the issue, and measures can be put in place to reduce drug abuse. The best method would be to take a combination of both options as stated previously. Maybe, in the distant future, drug abuse may not be such a huge pandemic as it is today.

Pre1914 prose study Essay

A single eye opens. On the dark, damp night of November, Frankenstein’s creation at last exists. Chapter 5 shows the awaking of his creation, literally his child. For so long he toiled, working towards this moment. But for what? For when the time came, only negative attitude was expressed. And so Victor deserts his â€Å"monster†, plunging the creation into complete darkness, lost, lonely and unaware. Frankenstein wants nothing to do with it, but to his creation, Victor is his everything. He made him; he is his mother, his father, and ultimately his God. Although, to say that Victor is a parent is rather ironic; it’s such an inhumane way of creating a living human being, such a ‘masculine’ form of science cannot work, it’s not naturally correct to deny the feminine act of child birth. Also, Frankenstein never once considered what he would do with the creation once he is alive; therefore, Victor fails as a parent. Frankenstein never educated the creation, and denies loving it. In the absence of love, Frankenstein’s Monster is forced to learn the hard way. The reactions he received drives the creature to realize that appearance and physicality is an important part of the public’s vain judgments. Rejected, uneducated and even nameless, it’s distanced from humanity and branded with such names as ‘wretch’, ‘daemon’, and ‘monster’ in which most of the names are from his creator’s own mouth. Such a gentle soul never had any physical contact with the human race and therefore attaches itself to the De Lacy family. Soon developing new emotions and sensations, he gains pleasure from help the family suffering from poverty. In return, he gains a steady education, Just like a child, and with a child, his knowledge builds off the teaching of Felix De Lacey. An important factor in this is the books he reads; Plutarch’s Lives, Volney’s Ruins of Empire, Goethe’s The Sorrows of Werther and most importantly Milton’s Paradise Lost. All of them represent the idea of romantic thinking in which Mary Shelley was associated. When presenting his arguments, he quotes from one such book: â€Å"I ought to be thy Adam; but I am rather the fallen angel, whom thou drivest from joy for no misdeed† (p. 77-8) He quotes Paradise Lost and relates himself to one character. Satan. Judged by his appearance, the public see him as evil and yet he is a tragic character, isolated from the world. He sees this mirrored in Milton’s Satan. Believing that perhaps the De Lacey family may accept him as a normal person and with that only to fail, was the stimulus to the beginning of his transportation from love to hate. Demonstrated in this novel is that creation isn’t just finished at the beginning of life. Frankenstein gives birth to this child of science, but makes him what he is branded, and ultimately what he is. A monster. By deserting him, he created an isolated and suffering being. With addition to being rejected by any other living person, this makes him a tragic figure. Victor was deeply self-absorbed, never once thinking of the welfare of his creation, but rather how to distance himself further from it. But, when moved by the monster’s happenings, he agrees to make a female partner. But again, he abandons him for his own welfare, and will not complete his companion. After making his creation, he fears making another double of his regret. The creature denies this though, he only wishes for a companion for the rest of his days on earth. Yet roles are reversed in the heart of the novel. In the beginning, power is mostly in Victor’s possession but by the time of meeting, the creature dominates, leading Victor into the wilderness of the mountains.

Free Essays on Ritual

When ritual is spoken of in Western society, images of cute, charming and sometimes dangerous activities of ‘native’ societies tend to be conjured up into the mind. Television seems to be full of ceremonies which, at best, tend to be thought of as quaint, at worst, acted out for the tourist industry. Religious belief is on the decline in Western society and this also contributes to the general outlook on rituals and rites. Western industrial society has idolised ideals, rationality and a limited type of practicality and all too often regards the conscious ritual of other cultures as a frivolous curiosity (LaChapelle, 1984:1-6). We have forgotten much in the last 300 hundred years that we should remember the fact that Western society not only had, but still has, rituals and rites of passage. In this essay I will point out that whether we accept it or not, ritual is an essential part of the life course, even though the act of performing and perceiving ritual may be unconscious. Ritual can often be viewed as habit or regularities (Cohen & Taylor, 1998:46-65). The daily process of getting out of bed, washing, brushing teeth and going to work or school is an unconscious ritual that millions of humankind goes through. These microsocial rituals, or regularities, may well appear never ending and spread their way throughout life’s course. Members of any given society may well try to break away from these rituals, but more often than not the ‘escape’ is only temporary. To ‘get away from it all’ may well lead to other types of unconscious ritual. Victor Turner (1974:298) has argued that the dialectical relationship of ritual and social structure facilitates creative responses to the negative aspects of daily social structure, and that these responses include alienation, divisiveness and exploitation. Ritual can undermine social structure in that humankind can find instructions in it as to fundamental organising principles an... Free Essays on Ritual Free Essays on Ritual When ritual is spoken of in Western society, images of cute, charming and sometimes dangerous activities of ‘native’ societies tend to be conjured up into the mind. Television seems to be full of ceremonies which, at best, tend to be thought of as quaint, at worst, acted out for the tourist industry. Religious belief is on the decline in Western society and this also contributes to the general outlook on rituals and rites. Western industrial society has idolised ideals, rationality and a limited type of practicality and all too often regards the conscious ritual of other cultures as a frivolous curiosity (LaChapelle, 1984:1-6). We have forgotten much in the last 300 hundred years that we should remember the fact that Western society not only had, but still has, rituals and rites of passage. In this essay I will point out that whether we accept it or not, ritual is an essential part of the life course, even though the act of performing and perceiving ritual may be unconscious. Ritual can often be viewed as habit or regularities (Cohen & Taylor, 1998:46-65). The daily process of getting out of bed, washing, brushing teeth and going to work or school is an unconscious ritual that millions of humankind goes through. These microsocial rituals, or regularities, may well appear never ending and spread their way throughout life’s course. Members of any given society may well try to break away from these rituals, but more often than not the ‘escape’ is only temporary. To ‘get away from it all’ may well lead to other types of unconscious ritual. Victor Turner (1974:298) has argued that the dialectical relationship of ritual and social structure facilitates creative responses to the negative aspects of daily social structure, and that these responses include alienation, divisiveness and exploitation. Ritual can undermine social structure in that humankind can find instructions in it as to fundamental organising principles an...

Mathematical Properties of Waves

Mathematical Properties of Waves Physical waves, or mechanical waves, form through the vibration of a medium, be it a string, the Earths crust, or particles of gases and fluids. Waves have mathematical properties that can be analyzed to understand the motion of the wave. This article introduces these general wave properties, rather than how to apply them in specific situations in physics. Transverse Longitudinal Waves There are two types of mechanical waves. A is such that the displacements of the medium are perpendicular (transverse) to the direction of travel of the wave along the medium. Vibrating a string in periodic motion, so the waves move along it, is a transverse wave, as are waves in the ocean. A longitudinal wave is such that the displacements of the medium are back and forth along the same direction as the wave itself. Sound waves, where the air particles are pushed along in the direction of travel, is an example of a longitudinal wave. Even though the waves discussed in this article will refer to travel in a medium, the mathematics introduced here can be used to analyze properties of non-mechanical waves. Electromagnetic radiation, for example, is able to travel through empty space, but still, has the same mathematical properties as other waves. For example, the Doppler effect for sound waves is well known, but there exists a similar Doppler effect for light waves, and they are based around the same mathematical principles. What Causes Waves? Waves can be viewed as a disturbance in the medium around an equilibrium state, which is generally at rest. The energy of this disturbance is what causes the wave motion. A pool of water is at equilibrium when there are no waves, but as soon as a stone is thrown in it, the equilibrium of the particles is disturbed and the wave motion begins.The disturbance of the wave travels, or propogates, with a definite speed, called the wave speed (v).Waves transport energy, but not matter. The medium itself doesnt travel; the individual particles undergo back-and-forth or up-and-down motion around the equilibrium position. The Wave Function To mathematically describe wave motion, we refer to the concept of a wave function, which describes the position of a particle in the medium at any time. The most basic of wave functions is the sine wave, or sinusoidal wave, which is a periodic wave (i.e. a wave with repetitive motion). It is important to note that the wave function doesnt depict the physical wave, but rather its a graph of the displacement about the equilibrium position. This can be a confusing concept, but the useful thing is that we can use a sinusoidal wave to depict most periodic motions, such as moving in a circle or swinging a pendulum, which dont necessarily look wave-like when you view the actual motion. Properties of the Wave Function wave speed (v) - the speed of the waves propagationamplitude (A) - the maximum magnitude of the displacement from equilibrium, in SI units of meters. In general, it is the distance from the equilibrium midpoint of the wave to its maximum displacement, or it is half the total displacement of the wave.period (T) - is the time for one wave cycle (two pulses, or from crest to crest or trough to trough), in SI units of seconds (though it may be referred to as seconds per cycle).frequency (f) - the number of cycles in a unit of time. The SI unit of frequency is the hertz (Hz) and1 Hz 1 cycle/s 1 s-1angular frequency (ω) - is 2Ï€ times the frequency, in SI units of radians per second.wavelength (ÃŽ ») - the distance between any two points at corresponding positions on successive repetitions in the wave, so (for example) from one crest or trough to the next, in SI units  of meters.  wave number (k) - also called the propagation constant, this useful quantity is defined as 2 Ï₠¬ divided by the wavelength, so the SI units are radians per meter. pulse - one half-wavelength, from equilibrium back Some useful equations in defining the above quantities are: v ÃŽ » / T ÃŽ » fω 2 Ï€ f 2 Ï€/TT 1 / f 2 Ï€/ωk 2Ï€/ωω vk The vertical position of a point on the wave, y, can be found as a function of the horizontal position, x, and the time, t, when we look at it. We thank the kind mathematicians for doing this work for us, and obtain the following useful equations to describe the wave motion: y(x, t) A sin ω(t - x/v) A sin 2Ï€ f(t - x/v)y(x, t) A sin 2Ï€(t/T - x/v)y(x, t) A sin (ω t - kx) The Wave Equation One final feature of the wave function is that applying calculus to take the second derivative yields the wave equation, which is an intriguing and sometimes useful product (which, once again, we will thank the mathematicians for and accept without proving it): d2y / dx2 (1 / v2) d2y / dt2 The second derivative of y with respect to x is equivalent to the second derivative of y with respect to t divided by the wave speed squared. The key usefulness of this equation is that whenever it occurs, we know that the function y acts as a wave with wave speed v and, therefore, the situation can be described using the wave function.

Forgiveness Essay Example | Topics and Well Written Essays - 1500 words

Forgiveness - Essay Example The research being accessible to everyone on internet has changed the general perspective to a realistic one also introducing the benefits of improving intrapersonal health and thoughts. When it comes to utilizing the benefits of forgiveness, it can be seen in two different ways, religious and psychological; even though both overlap. Forgiveness ensures that intrapersonal and interpersonal troubles of a person are resolved, which is the reason forgiveness cannot be taken as a responsibility or duty. Forgiving by force might shortly suppress the issues but does not resolve them, as per Baker (2012). To truly forgive, one needs to let go from the heart and release the resentment; religiously explained by McMinn et. al (1999), it might be an altruistic gift to the receiving individual; while from a psychological point of view it is seen as means of regaining personal health. This contrast of approaches of forgiveness shows two different perceptions of forgiveness with respect to intrape rsonal characteristics and interpersonal relations. Where religion finds forgiveness to be a trait of God and a way to thank God for His forgiveness, psychologists find it as a therapeutic tool that helps an individual get relieved of his anguish. Reconciliation after forgiveness involves parties to re-establish the relationship but is unlikely to be always synonymous to forgiveness. As alluded by Baker (2012), forgiveness and reconciliation together might be a good combination in case of loved ones but they don’t always go together. This can be due to a number of reasons. For example, the forgiving individual might want to forgive the perpetrator but not have anything to do with them anymore, on the other hand the perpetrator might not even have any remorse in the first place or even being repeatedly injurious making reconciliation impossible whereas the victim might still want to forgive the person. Such situations define the differences between forgiveness and reconciliati on. It might also be a point to note that acknowledgement of offense is also not equal to remorse while on the other hand, forgiveness being a choice still enables the victim to want to forgive an unrepenting perpetrator. The Gale Encyclopedia (2009) article on reconciliation also refers to forgiveness being both a psychological and a religious approach to emotional healing; both being in contrast, still aim the same thing - improvement of interpersonal relations and intrapersonal health. From another point of view, forgiveness might be seen as a unilateral act while reconciliation takes both (or all) parties involved. Forgiveness might also involve foregoing indebtedness so that the victim does not have to go through the ordeal of reconciling with the perpetrator. The senior citizens are also alluded to have found forgiveness and reconciliation an important part in the last phase of their life. The Gale Encyclopedia (2009) terms it as an ‘end of life concern’ for those in the last phase of their life. It is also sometimes the case that tolerance is confused with reconciliation. Tolerance and forgiveness might both be helpful in reconciliation but are not equal to it. Reconciliation involves people on two sides of a divide to uncover the ordeal they’ve been put through and sacrifice in order to re-establish a relationship. Tolerance also does not require the same level of honesty as for forgiveness while reconciliation requires both. This differentiates forgiveness to be unique in the way that it is not

Logical Fallacies Essay Example | Topics and Well Written Essays - 500 words

Logical Fallacies - Essay Example ed my friend’s fallacious reasoning by arguing that something does not automatically become right simply because it has always been practiced (Trufant 34). I argued that despite the fact that it may be true that Tobacco has been used for centuries as a medicine by the Indigenous Americans, Europeans and other societies, this does not necessarily justify that Tobacco use is good. On the contrary, it is a proven fact that tobacco is currently one of the largest causes of preventable deaths in the world and millions of tobacco users die each year across the globe from smoking related health conditions. For example, tobacco use is responsible for numerous diseases and long term health problems such as cancer, heart condition, respiratory diseases, as well as premature death. In addition, billions of dollars are currently being lost each year from the loss of productivity that results from smoking related deaths as well as in terms of the expenses incurred in the treatment of diseases and conditions associated with tobacco use. Finally, recent studies have also pointed out that tobacco use may significantly undermine the health of non smoke rs through passive smoking. I concluded that the argument that tobacco must be good because it has been used as an indigenous medicine in various cultures for many centuries is not only deceptive and fallacious but is also based on lack of reason since it is not supposed by any evidence. In my opinion, appeal to tradition is a logical fallacy because tradition is not always right. Although the notion that something is good because it has always been done that way may seem superficially sound, and is popular in many debate rounds, traditions can not justify that something is good. The use of tobacco does not automatically become right simply because it has always been traditionally used as an indigenous medicine for medicine. I won the argument. Tradition is not always

Business Idea Journal 2 Essay Example | Topics and Well Written Essays - 500 words

Business Idea Journal 2 - Essay Example Although massage therapy business has been tapped into by many magnates within Canada, there seems to be a huge market niche in Halifax. Halifax is a capital metropolitan with a population of about 400,000. Approximately almost a third of the whole population seeks for massage therapy services on a regular basis. This overwhelming demand cannot be sustained by the existing massage parlors in the town. Moreover, many would want to visit a massage parlor that can provide additional services such as barbering services. There is, therefore, the need to establish a reputable massage parlor that, besides providing the therapies, other services such as hair cut can also be offered. This projected massage therapy parlor will offer two particular services; massage therapy and barbering services. It will be equipped with machines and apparatus, as well as staff specialized in this type of service delivery. Having explored this idea extensively, it has been found that men tend to seek for massage therapy services more than women in Halifax especially in the evenings when they get out from work. This is not to say that women and children do not. This establishment will target the general population; anyone who requires massage and barbering services. The fact that it is combined with a barbershop will attract and sway customers who probably needed to haircuts into asking for massage therapy. Additionally, the business will be more conspicuous in the market since it would be one of its own that has seen this kind of a combination in Halifax. To reach out to the potential clients, internet resources will be utilized. Social media is one of the many forums that this projected business can be promoted. Facebook, Twitter, Instagram among other electronic platforms would provide opportunities through which the massage therapy business

Importance of Intellectual Capital in the Modern Economy

Importance of Intellectual Capital in the Modern Economy Executive Summary The report discusses the relative importance of the Intellectual Capital in the present economy due to the revolution that fosters the propagation of the value creation. The Intellectual Assets of an organisation play a vital role in improving its value and maintaining the competitive advantage. However, these intellectual assets are not capitalised in the financial statements as they are unable to determine their historic costs and their future benefits are sometimes uncertain. Despite of this a lot of companies have discovered ways that facilitate the valuation , measurement and reporting of their intellectual assets i.e companies like Coca Cola , Marks Spencer and Kingston Hull Plc have reflected their intangible assets such as brands separately from the goodwill on their company balance sheets as some guidance is provided by the International Accounting Standard in the disclosure of the intangible assets. The report also presents some theories that are aimed at eliminating the confusions created about the Accounting Profession. As the Accounting Profession and the Accountants cannot be blamed as conservatives in not providing space for the Intellectual Assets in the financial statements because in doing so , the financial statements will loose their relevance , reliability and neutrality. The report further throws some light on the issues that are related to the field of Intellectual Capital that include that there is no uniformity in the relative theory as there is no such definition and the Intellectual Capital model that is accepted generally. In the end the report concludes by suggesting that the under the supervision of the International Accounting Standard researchers, consultants, scholars and the accountants have to find a common way such that the value relevance of the Intellectual Capital and the principles of accounting are preserved. Aims and Objectives The aim of this study is to discuss that whether the exclusion of the Intellectual Assets of an organisation in the balance is realistic and pragmatic. As the Intellectual Capital is considered a value driver for the modern economy and a lot of organisations are focusing on their intellectual assets as compared to the intangible assets. Objectives The objectives of this study include: To assess the importance of the Intangible assets as compared to the tangible assets of an organisation. To provide some evidences about the organisations attitudes and the awareness about their intellectual assets. Finally, to conclude that whether the eviction of the Intellectual assets is pragmatic or not. Rationale The Current Gobal economies are now facing a new revolution that brings them to a new form of business environment. This major change in the world economies is due to the fact that there has been a disproportion observed between the Book Value and the Market Value of a firm. Because , in the past the Balance Sheet and the Income statement were the only tools used by the Shareholders ,managers and the executives to make strategic decisions and monitoring the performance of the company. However, it can be argued that things have changed now. As one of the important concern for the companies is the Value Creation. The expansion of the markets in the product or a service sector has been possible with the aid of the internet , high- technology and the innovation ,information , market chains and globalisation. This in turn has created a global competition among the firms that are now striving to acquire knowledge. Furthermore, the acquisition of the knowledge brings some vital concerns of its use, management and the improvement. This has changed the operations of the the organizations that used to emphasize on the production capability ,now focus on the creative operational structure. The organisations are now using the special tools for acquisition, management and the protection of knowledge such as Research Development , Patents , trademarks , copyrights , databases , customer and supplier relationships and Human Resources are known as the intellectual assets of the organization and constitute the Intellectual Capital. The relative importance and the expected returns of the Intellectual Capital has convinced the organisations to think and work in a new innovative way to achieve dominance over the competitors in the market. However , inspite of this the Intellectual Capital has not been considered in the performance appraisals and not included in the financial statements under the heading of assets. The organisations are spending a lot on the Intellectual Capital as compared to their tangible assets so therefore it is not wise to go against the flow of current market trends by focusing more on the tangible assets. This would lead to the creation of inaccurate procedures, policies and the decisions. Hence reducing the value in front of the investors and the customers. Cowey (1999), approves the conception of a â€Å"New Economy â€Å" and the â€Å" Knowledge Company † and insists that this concept accepted world-wide. He demonstrates that the opinions of â€Å" what we own † to â€Å" what we Know † have changed and know it depends upon the companies to apprehend the value creation by putting stakes in the training technology , staff retention and knowledge otherwise the efforts will not be productive. The Organisation for Economic Co-operation and development (OECD , 2005) reports that the investments in the Intellectual Capital has grown faster than the investments on machinery and equipment few years back. It is further revealed that the spending on the Research Development , software and the higher education was higher than the spending on the Machinery and the equipment in USA and Finland notebaly in 2002 and increased in greater proportions between 1994 2002 among the OECD countries as well. Arora(2000) purports that the the edge on the competitors in the challenging business environment can only be achieved by the proper administration of the Intellectual Capital which is another name of the Knowledge management. Kaplan Norton(2001) suggest that the company’s market value includes only 10-15% of the company’s book value of the assets. Furthermore, the possibilities of producing a value are risen through the the activities whose foundation is the knowledge that is enforced on the intangible assets of an organisation as compared to tangible assets. A Convention held under the OECD(1999) , concludes that a prominent set of information is required on the Intellectual Capital in its association with the tangible assets in the determination of value. Traditional Financial Reporting does not provide the necessary information to pursue the value creation process. Due to the availability of the information via internet technologies there is a need of a new reporting model that accommodates the information pertaining the Intellectual Capital that creates the value for customers and suppliers. Bradley(1997) discovered that the predicaments that were involved in the traditional financial accounting were due to the emergence of value. He explained the problem by arguing that the balance sheets and the income statements were the benchmarks in delivering the financial information to the shareholders. However, the significance of these financial statements in propagating the value has decreased due to the emerging trend of investments in the intangible assets. It is stated that the value of the brands was not reflected in the financial statements and in the equity values .This has led to the reconsideration of the intangible assets and the brands specifically. This fostered the proposition of of including such assets in the financial statements. However , the accounting profession does not fully supports the the idea that the intangible assets are the main factors in creating the value. On the contrary the investors and the trade leaders have acknowledged this truth. Furthermore, it is also quoted that 72% of the value was not reflected in the balance sheets of the companies surveyed in United Kingdom. Brands form the major part of the unexplained value that is not part of the balance sheet (Brand Finance plc , 2000). The Figure 1 shows the Gap between the market capitalisation and the net asset value. Why Intellectual Capital Upton(2001) reports that the companies under the scrutiny of the FASB Business Reporting Research Project provide considerable non- monetary information. Therefore it can be argued that the AICPA and FASB have been analysing the Intellectual Capital since 1991.The Intellectual Capital is considered endangered when the information of a company becomes obsolete when the competitor increases its information. Therefore the preservation of the Intellectual Capital is crucial for maintaining the competitive edge. However,the companies that are knowledge intensive are prone to risks of losing their market shares(MacDougall Hurst,2005).Guthrie(2000) suggests that â€Å"Accountants must find a to incorporate measures of Intellectual Capital or they will become irrelevant â€Å". Statement of Methodology The method used in the report is the study of the literature that is already present in the field of Intellectual Capital and the Accounting to support the arguments.After, the study necessary facts and evidences are combined to form the Literature Review of this report. This report does includes the collection of the primary data and its analysis. A case study is added to further enhance the understanding of the applications of IC in firms. Research Question The research question is â€Å" Is the exclusion of Intellectual Assets from accounting statements realistics?† The research question of this report is basically a debate that is going on in the academic, industrial and the business sector. This topic demands study to be commenced taking in account both the views of the implications of including or excluding the intellectual assets in the financial statements. Literature Review Definition of the Intellectual Capital The Organisation for Economic Co-operation and development (OECD , 1999) illustrated that the Intellectual Capital was the composition of the financial value of two classes of the intangible assets i.e Structural Capital Human Capital The structural Capital includes the organisational resources like the softwares, databases etc. The Human Capital however, contains the human resources employees (internally) , customers and suppliers(externally). The term Intellectual Capital is presumed as having the same meaning as the Intangible Asset. In contrast , the definition that is provided by the OECD(1999) puts the Intellect Capital as a subset of the intangible assets of an organisation. Because there are certain intangible assets that do not fall under the category of the Intellectual Capital. The repute of a firm is not considered as a part of the Intellectual Capital(Guthrie Petty , 2000). Stewart(1997) defines the Intellectual Capital as a â€Å" Intellectual Material â€Å" that Includes the knowledge , information , intellectual property , experience that can be used to generate wealth. Furthermore , Stewart (1997) categorises the intellectual capital in to structural , customer and the human capital. He argues that the human capital is the generator of the innovation and the improvement. The structural capital includes the tools and the facilities that are used the human capital to form value. Customer Capital includes the value that is produced as a consequence of the organisations relations with which performs the business transactions(Stewart , 1997). Intellectual Capital can also be defined as the combination of the human capital and the structural capital. The human capital includes the knowledge , skills and the experience of the employees. It is further argued that the human capital is not in the possession of the organisation as compared to the structural capital (Edvinsson Malone , 1997). Elements of the Intellectual Structural Capital Structural Capital is what is left behind in the organisation when the employees go home. The Structural Capital arises from the those organisational processes that are focusing on the improvement and the establishment of the organisation. (Roos et al , 1997). Bontis et al (1999) suggests that the structural capital includes the organisational resources that encompass the knowledge that is not actually stored in the human brains and whose value is greater than its physical value.These assets include databases , softwares , manuals , trademarks , leaseholds , franchises , patents , licenses , employee training , employee contracts etc. The structural capital plays an important role in the creation of the value. As it helps the human capital to explore new ideas , learn from the past experience and protects the knowledge and the new inventions by providing the technology and the legal aid. Customer Capital Kohli jaworski(2000) defined the customer capital as the organisations ability to evolve the knowledge about market that is focusing on the cutomer desires and perceptions. This acquired knowledge is used by the organisations in response to the changing attitudes of the customers and the market. Organisations use this knowledge to have a contingency plan to tackle the threats produced from changing market trends. The definition provided by Bontis(1999) suggests the customer capital should be iterated as the relational capital that includes the relationships with the suppliers, partners and the investors in addition to the relationship with the customers. Human Capital Hudson(1993) defined the human capital as the composition of the inheritance, qualifications , experience with the opinions about life and business. It is further argued that the organisational employees are the key architects of the Intellectual Capital through their proficiency , opinions and expertise. The competence of the employees includes skills and qualifications and their opinions come under their behaviour and perceptions about work. The expertise is important in devising the innovative solutions to the problems. Furthermore, employees are an important asset for an organisation but they are not owned assets(Roos et al , 1997). Exploitation Of Intellectual Capital (Economical Perspective) It is suggested that the critical factor in the improvement of the economy is the proper utilization of the Intellectual capital .It is further noted that by increasing the tricks of Intellectual Capital will provide a competitive edge and the value of the firm will be augmented and specifically business will bring financial benefits. It is not a new thing that the intangible assets like brands, intellectual property , relationships are considered as a unprocessed input for the organization that increases the worth by the application of intelligence in possession of the organization. (Watters et al 2006 , Intellectual Assets Center , Glasgow, Uk). The research on the recognition and reporting of the intangible assets and the intellectual capital has brought them to the acute attention.The research believes that the intangible assets play a significant role in the creation of endurable competitive advantage with in the advanced organsations.Due to the expansion of the modern knowledge based economy it has become transparent that the intangible assets and the Intellectual Capital of an organization have become a platform in accomplishing the competitive advantage as compared to the hi-tech tangible assets(Drew , 1999). Tayles et al (2005) have described two doctrines in the realization of the intangible assets that provide the assistance in the achievement of the competitive superiorty. The research is continuously striving to find the authentic procedures to measure the intangible assets and the indices that provide a forecast of the future economical benefits based upon the doctrines that are prescribed by Tayles et al (2005).Firstly , the expanding financial statements of the companies is the idiosyncracy of its Intellectual Capital that give the edge on the market competitors. Secondly, is the inefficient justification of the Intellectual Capital in the expansion of the economy(Tayles et al , 2005). Skinner (1986) purported that with the utilization of the technology, manufacturing productivity can be achieved by the intangible assets of the company which are the authentic reagents of the prosperity and that justify the monetary investment. How the Companies Exploit the Intellectual Capital Case Study Kingston Communications(Hull) Plc is group of companies based in Hull,United Kingdom. The groups is presently offering the services related to information, communication technology and the telecommunications to the consumer markets in UK. The groups Brands include Affiniti,Smart 421,Jam IP(Integration and management services),Karoo, Eclipse, Mistral (Internet and Telecommunication services) and Hull Color pages and Know( Information Services). The group is Ammortising the its Intangible Assets that aquired in the Acquisitions.In 2007,the ammortisation on intangibles was à ¢Ã¢â‚¬Å¡Ã‚ ¤8 million(from Total depreciation and ammortisation).The group also has purchased the tangible and the Intangible assets worth à ¢Ã¢â‚¬Å¡Ã‚ ¤30.2 million.The Groups Controlled measures include, measuring the learning and development(p9),Customer Satisfaction. KM also believes that Human Resources when managed through and effective Policy can bring the Tangible effect on the companys performance. KM is running a development program to enhance the Knowledge and Intelligence of the employees.The company also manages the Relational (Custmer) Capital by arranging the meetings of the Directors on the Investor relations and the shareholders concerns specifically. The Company’s publishes its Financial Reports complying with the IFRS,however, the company also provides additional disclosures if compliance with the IFRS does not fullfil the requirements of the users(i.e External Stakeholders,External investors,Suppliers and the Customers) to understand the impact of certain transactions that have an effect on the financial performance of the company. Relational Capital Management and Policies Arranaging meetings with the shareholders time to time to discuss the company’s strategies and performance.Maintaining a investors relations function to encourage and improve the communication with the investors. The Goodwill of the Company in 2007 was worth à ¢Ã¢â‚¬Å¡Ã‚ ¤192.754 million(2006:à ¢Ã¢â‚¬Å¡Ã‚ ¤155.551 million) and the Intangible Assets had the value of à ¢Ã¢â‚¬Å¡Ã‚ ¤48.511 million (2006 : à ¢Ã¢â‚¬Å¡Ã‚ ¤39.450) according to the Balance Sheet on 31st march,2007. The Cash Flow Statement of the Company for the year ended 31st march,2007 also explicitly show the Amounts of the Ammortisation of Intangibles as compared to the tangible fixed assets.The Cash Flow statement also show the companys procurement of the Intangible assets à ¢Ã¢â‚¬Å¡Ã‚ ¤6.495 illion in 2007. The financial statements of the Company are prepared according to the principles prescribed by IFRS and IFRIC.These financial statements are based on the concept of historical Cost accounting.However, the statements are modified due to the revaluation of the financial assets to a fair value by using the income statement. Intangible Assets Identified by Kingston Communications The Intangible Assets of the Kingston Communication include: 1.) Goodwill 2.) Customer and Supplier Relationships 3.) Technology and Brands 4.) Software 5.) Development Goodwill The Groups Goodwill is reported in the acquisitions of the subsidiaries and it is the difference between the Cost of Acquisition and the Net Assets. The Goodwill is tested for impairment annually. Development The company’s intangibe asset that is developed through the research and development activities only when it fulfils the criteria of Intangible Asset Recognition prescribed by IAS 38 i.e the asset is identifiable,impact on future cash flows and the developmental costs of the assets are measured reliably.The estimated life of the internally developed intangible asset is 1 year and is also ammortised on a straight line basis. Valuation of the Intangible Assets in Kingston Commnuications The intangible assets that are acquired through the acquisitions are valued on the basis of their time value and the future impact of on the performance of the companies. Appraisal of Intellectual Capital in Kingston Communications The Kingston Communication is exploiting,managing and reporting its Intellectual Capital as tool necessary for the competitive advantage and for improving the future performance of the company. According to the companies policy the Intangibles Assets are included in the Balance Sheets in order to satisfy its investors and guarantee the future investments in the company. However, there are no benchmarks for the management and the evaluation of the these Intangible assets.Also, the company is not using the models for the Classification of these Intangible assets as suggested by (Kingston Hull plc , 2008) Measuring the IC (Performance)through strategies(Management Accounting) Simons(1999) suggests that the by measuring the performance of a company is basically the comparison of the outcomes of the business activities with the critical business targets. The traditional financial accounting utilizes two techniques to measure the Performance .These are Return on Capital Employed(ROCE) and Return on Assets (ROA). However , these techniques are condemned due to the fact that they are old fashioned , unable measure the intangible assets and are unable to appraise the stakes in the technology which is essential for the firm to compete in the global market(Bourne et al , 2000; Amir Lev , 1996). Valuation Methodologies(Performance Measures as well) The economic measure of the Profit yields the same result as the traditional accounting during the matching phase of costs and revenues by preserving the value significance. This is done by improving the financial reports with the disclosure of the concealed assets like the intangible assets and the investments in the long run(Simons , 1990). (It includes the tools and various methodologies ) Watters et al(2006) have discussed the application of a Scorecard assessment tool in the Scottish SME that provides a review that how efficiently companies are exploiting their Intellectual assets.The tool helps the SMEs to manage three areas of operations i.e Sales and Marketing , Research and Development and Human Resources. It assign the scores to activities that come under the three operational areas according to their effectiveness and links them to the strategic objectives of the firms. (Appendix 1) Brand Finance plc(2000) suggests that there are a lot of methods present for the valuation of the Brands, however there is a need to find an optimal one. Cost based methods of brand valuations show a disparity from its market valuation. The Market Comparison method is not efficient as it is difficult to obtain the comparison data. Royalty Relief method determines the royalty rate on the estimates of the income generated from brands. However , this method does not clearly states that how a brand is going to create value. The Economic Use method combines the consumer and the competitor to entitle the value to the brand.The last method is the most optimal method which is the Brand Finance that uses the Discounted Cash Flow (DCF) analysis in concluding the value for a brand.As the Discounted Cash Flow method valuation complies with the valuations performed by the financial analysts , accountants to check for the impairment of the intangible assets. Measurement of Intellectual Capital Why there is a need for the companies to measure the intellectual capital This is a very long debate that why companies need to measure the intellectual capital.There are several advantages of doing that. The term intellectual capital can be said to be â€Å"expandable† in terms of the Value and rewards. The greater the effort of a company the greater is a competitive advantage and greater is sustainability of the company. Nowadays companies and the firms have become Knowledge aware i.e they have now recognized the importance of the of the knowledge that creates value and sustainability. The Companies working in the Telecommunication, Pharmaceutical and the research technology sector specifically have to invest a lot in the Research and Development to compete and develop the innovative solutions to avail the opportunities in the market.Therefore, there is a strong need for these companies to devote themselves to measure and manage their intellectual capital effectively. However, it is very difficult to justify the investments in digging out the knowledge that creates value .These investments are rather very complex and unpredictable even if they are tested and analysed by the efficient tools for their proficiency. Some Organisations that are knowledge based are sometimes not sure about the amount of the Knowledge they have and the amount of knowledge they need tocarry out their functions internally and externally. That is the reason, these organizations loose the interest of the investors and therefore the investment. Balanced Scorecard (An Alternative to Balance Sheets) Kaplan Norton(1992) , presented the theory of the Balanced Scorecard for improving and tracking down the performance of an organisation. The authors suggest four dimensions such as Financial , Customer , internal business process and learning and growth. These dimensions are believed to provide a insight in to the current performance and identify the factors that can improve the future performance. A combination of the non-financial and financial measures are insufficient in determining the performance of an organisation. The main problem is that its just like a Wild Goose Chase as this amalgam of the performance indicators are not pursuing a specific business objective. Kaplan Norton(1996) believe that the both the financial and the non- financial measures must have a focus on a goal that has to be achieved in maintaining the sustainability. The authors further argue that the various measures provided by the balanced scorecard can help the organisation to plan a particular strategy and then can implement it across its subsidiaries, departments to share a common motive with trasnparency. A well planned BSC can hep the organisation to learn from the short-term reports that are generated and scrutinized through various perspectives. Andriessen(2004) suggests that the predicament of measuring the Intellectual Capital can be resolved by applying the balanced scorecard. It has been advised that the specified strategy plans can be created that guide the organisations to confidently invest in the human resources, technology and the structural capital. It is further revealed that by measuring and administering the intellectual capital can also help the organisation to convert its non-monetary achievements in to monetary achievements(Kaplan Norton , 2004). A study conducted by Hagood Friedman(2002) devised a way for the implementation of the balanced scorecard to measure the accomplishments of the human resource information system of a company. They have developed a system that uses the balanced scorecard as its foundation to improve the human resource information system in association with highlighting the goals and objectives of the organisation. Despite of its usefulness the Balanced Scorecard has some limitations. In this context Voelpel et al (2006) has identified five limitations of the balanced scorecard in its application in the modern economy. First being its inflexibility that is, it measures the performance of a company only in four perspectives by leaving behind some other perspectives out of attention. Voelpel et al(2006 ) explain the second limitation which is that the BSC is less efficient in accommodating the changes in the changing economy. The BSC a defines a strategy for a company and its subsidiaries to achieve a goal by neglecting the individual goals of a subsidiary as a consequence a company is unable to use its potential properly. The third one is that BSC focuses more on improving the internal performance of an organisation therefore by losing a link with the external world to exploit the innovation.The forth limitation of a BSC is that it focuses on the organisation in itself and provides no information about the actions of competitors. The fifth problem with the balance scorecard is that it goes straight in measuring the performance in a rational way .As a consequence the more complex predicaments are difficult to apprehend(Voelpel et al , 2006). A Comparison between the benefits that arise from intangible and tangible assets There are risks involved with the investment in the intangible assets like RD. Kothari et al(1998) have conducted a research by comparing the uncertainty of benefits associated with the tangibles and the intangibles assets. The methodology used for this research was the regression analysis of the future earnings variability involved with the expenditure in Research and Development and the tangible assets .Furthermore , the variables like firm size and the leverage are also used to define the boundary of a research.It has been illustrated by Kothari et al (1998) that the future benefits of RD investment are more uncertain than the tangible assets. Shi(2003) has analysed and studied the relationship of bond prices and the measures of RD expenditures and suggest that there is a fair risk involved with the spending of the RD projects that increases risk factor with the bondholders claims and hence are more riskier than the other projects. Issues in Intellectual Capital(Flaws in the IC Concepts) Bontis (2001) discovered a predicament with the intangibles assets is that there is no unique conception that is accepted by everyone. Every investigator or a consultant who contributes to the debate expects the approval and recommends his own jargon. Various other researchers have pointed out flaws in the definitions of the Intellectual Capital. According to Edvinsson and Malone(1997) the intellectual capital was the difference of Market value and the Book value. In contrast Upton(2001) recommends that the intellectual capital cannot be absolutely characterized by simply calculating the difference of market and book value. Following that Habersam and Piber(2003) advocate that the term intellectual capital cannot be determined by the difference of market value and the book value. Pragmatically, the difference can be influenced by some other elements that are not associated with the intangibles.Further research enumerates five components that can realize a change in the the stock prices which incorporates the recognised assets , company liabilities , legal events , shareholders equity and the timing issues(Garcia-Ayuso 2003). The benefits received by a firm cannot be attributed to the individual intangible Assets as such benefits are a result from the inter-cooperation of more than one Intangible asset. Therefore, it could be wise to value the intangible assets all together. It is further argued that the market value of a firm cannot be ascribed to the intangible asset Importance of Intellectual Capital in the Modern Economy Importance of Intellectual Capital in the Modern Economy Executive Summary The report discusses the relative importance of the Intellectual Capital in the present economy due to the revolution that fosters the propagation of the value creation. The Intellectual Assets of an organisation play a vital role in improving its value and maintaining the competitive advantage. However, these intellectual assets are not capitalised in the financial statements as they are unable to determine their historic costs and their future benefits are sometimes uncertain. Despite of this a lot of companies have discovered ways that facilitate the valuation , measurement and reporting of their intellectual assets i.e companies like Coca Cola , Marks Spencer and Kingston Hull Plc have reflected their intangible assets such as brands separately from the goodwill on their company balance sheets as some guidance is provided by the International Accounting Standard in the disclosure of the intangible assets. The report also presents some theories that are aimed at eliminating the confusions created about the Accounting Profession. As the Accounting Profession and the Accountants cannot be blamed as conservatives in not providing space for the Intellectual Assets in the financial statements because in doing so , the financial statements will loose their relevance , reliability and neutrality. The report further throws some light on the issues that are related to the field of Intellectual Capital that include that there is no uniformity in the relative theory as there is no such definition and the Intellectual Capital model that is accepted generally. In the end the report concludes by suggesting that the under the supervision of the International Accounting Standard researchers, consultants, scholars and the accountants have to find a common way such that the value relevance of the Intellectual Capital and the principles of accounting are preserved. Aims and Objectives The aim of this study is to discuss that whether the exclusion of the Intellectual Assets of an organisation in the balance is realistic and pragmatic. As the Intellectual Capital is considered a value driver for the modern economy and a lot of organisations are focusing on their intellectual assets as compared to the intangible assets. Objectives The objectives of this study include: To assess the importance of the Intangible assets as compared to the tangible assets of an organisation. To provide some evidences about the organisations attitudes and the awareness about their intellectual assets. Finally, to conclude that whether the eviction of the Intellectual assets is pragmatic or not. Rationale The Current Gobal economies are now facing a new revolution that brings them to a new form of business environment. This major change in the world economies is due to the fact that there has been a disproportion observed between the Book Value and the Market Value of a firm. Because , in the past the Balance Sheet and the Income statement were the only tools used by the Shareholders ,managers and the executives to make strategic decisions and monitoring the performance of the company. However, it can be argued that things have changed now. As one of the important concern for the companies is the Value Creation. The expansion of the markets in the product or a service sector has been possible with the aid of the internet , high- technology and the innovation ,information , market chains and globalisation. This in turn has created a global competition among the firms that are now striving to acquire knowledge. Furthermore, the acquisition of the knowledge brings some vital concerns of its use, management and the improvement. This has changed the operations of the the organizations that used to emphasize on the production capability ,now focus on the creative operational structure. The organisations are now using the special tools for acquisition, management and the protection of knowledge such as Research Development , Patents , trademarks , copyrights , databases , customer and supplier relationships and Human Resources are known as the intellectual assets of the organization and constitute the Intellectual Capital. The relative importance and the expected returns of the Intellectual Capital has convinced the organisations to think and work in a new innovative way to achieve dominance over the competitors in the market. However , inspite of this the Intellectual Capital has not been considered in the performance appraisals and not included in the financial statements under the heading of assets. The organisations are spending a lot on the Intellectual Capital as compared to their tangible assets so therefore it is not wise to go against the flow of current market trends by focusing more on the tangible assets. This would lead to the creation of inaccurate procedures, policies and the decisions. Hence reducing the value in front of the investors and the customers. Cowey (1999), approves the conception of a â€Å"New Economy â€Å" and the â€Å" Knowledge Company † and insists that this concept accepted world-wide. He demonstrates that the opinions of â€Å" what we own † to â€Å" what we Know † have changed and know it depends upon the companies to apprehend the value creation by putting stakes in the training technology , staff retention and knowledge otherwise the efforts will not be productive. The Organisation for Economic Co-operation and development (OECD , 2005) reports that the investments in the Intellectual Capital has grown faster than the investments on machinery and equipment few years back. It is further revealed that the spending on the Research Development , software and the higher education was higher than the spending on the Machinery and the equipment in USA and Finland notebaly in 2002 and increased in greater proportions between 1994 2002 among the OECD countries as well. Arora(2000) purports that the the edge on the competitors in the challenging business environment can only be achieved by the proper administration of the Intellectual Capital which is another name of the Knowledge management. Kaplan Norton(2001) suggest that the company’s market value includes only 10-15% of the company’s book value of the assets. Furthermore, the possibilities of producing a value are risen through the the activities whose foundation is the knowledge that is enforced on the intangible assets of an organisation as compared to tangible assets. A Convention held under the OECD(1999) , concludes that a prominent set of information is required on the Intellectual Capital in its association with the tangible assets in the determination of value. Traditional Financial Reporting does not provide the necessary information to pursue the value creation process. Due to the availability of the information via internet technologies there is a need of a new reporting model that accommodates the information pertaining the Intellectual Capital that creates the value for customers and suppliers. Bradley(1997) discovered that the predicaments that were involved in the traditional financial accounting were due to the emergence of value. He explained the problem by arguing that the balance sheets and the income statements were the benchmarks in delivering the financial information to the shareholders. However, the significance of these financial statements in propagating the value has decreased due to the emerging trend of investments in the intangible assets. It is stated that the value of the brands was not reflected in the financial statements and in the equity values .This has led to the reconsideration of the intangible assets and the brands specifically. This fostered the proposition of of including such assets in the financial statements. However , the accounting profession does not fully supports the the idea that the intangible assets are the main factors in creating the value. On the contrary the investors and the trade leaders have acknowledged this truth. Furthermore, it is also quoted that 72% of the value was not reflected in the balance sheets of the companies surveyed in United Kingdom. Brands form the major part of the unexplained value that is not part of the balance sheet (Brand Finance plc , 2000). The Figure 1 shows the Gap between the market capitalisation and the net asset value. Why Intellectual Capital Upton(2001) reports that the companies under the scrutiny of the FASB Business Reporting Research Project provide considerable non- monetary information. Therefore it can be argued that the AICPA and FASB have been analysing the Intellectual Capital since 1991.The Intellectual Capital is considered endangered when the information of a company becomes obsolete when the competitor increases its information. Therefore the preservation of the Intellectual Capital is crucial for maintaining the competitive edge. However,the companies that are knowledge intensive are prone to risks of losing their market shares(MacDougall Hurst,2005).Guthrie(2000) suggests that â€Å"Accountants must find a to incorporate measures of Intellectual Capital or they will become irrelevant â€Å". Statement of Methodology The method used in the report is the study of the literature that is already present in the field of Intellectual Capital and the Accounting to support the arguments.After, the study necessary facts and evidences are combined to form the Literature Review of this report. This report does includes the collection of the primary data and its analysis. A case study is added to further enhance the understanding of the applications of IC in firms. Research Question The research question is â€Å" Is the exclusion of Intellectual Assets from accounting statements realistics?† The research question of this report is basically a debate that is going on in the academic, industrial and the business sector. This topic demands study to be commenced taking in account both the views of the implications of including or excluding the intellectual assets in the financial statements. Literature Review Definition of the Intellectual Capital The Organisation for Economic Co-operation and development (OECD , 1999) illustrated that the Intellectual Capital was the composition of the financial value of two classes of the intangible assets i.e Structural Capital Human Capital The structural Capital includes the organisational resources like the softwares, databases etc. The Human Capital however, contains the human resources employees (internally) , customers and suppliers(externally). The term Intellectual Capital is presumed as having the same meaning as the Intangible Asset. In contrast , the definition that is provided by the OECD(1999) puts the Intellect Capital as a subset of the intangible assets of an organisation. Because there are certain intangible assets that do not fall under the category of the Intellectual Capital. The repute of a firm is not considered as a part of the Intellectual Capital(Guthrie Petty , 2000). Stewart(1997) defines the Intellectual Capital as a â€Å" Intellectual Material â€Å" that Includes the knowledge , information , intellectual property , experience that can be used to generate wealth. Furthermore , Stewart (1997) categorises the intellectual capital in to structural , customer and the human capital. He argues that the human capital is the generator of the innovation and the improvement. The structural capital includes the tools and the facilities that are used the human capital to form value. Customer Capital includes the value that is produced as a consequence of the organisations relations with which performs the business transactions(Stewart , 1997). Intellectual Capital can also be defined as the combination of the human capital and the structural capital. The human capital includes the knowledge , skills and the experience of the employees. It is further argued that the human capital is not in the possession of the organisation as compared to the structural capital (Edvinsson Malone , 1997). Elements of the Intellectual Structural Capital Structural Capital is what is left behind in the organisation when the employees go home. The Structural Capital arises from the those organisational processes that are focusing on the improvement and the establishment of the organisation. (Roos et al , 1997). Bontis et al (1999) suggests that the structural capital includes the organisational resources that encompass the knowledge that is not actually stored in the human brains and whose value is greater than its physical value.These assets include databases , softwares , manuals , trademarks , leaseholds , franchises , patents , licenses , employee training , employee contracts etc. The structural capital plays an important role in the creation of the value. As it helps the human capital to explore new ideas , learn from the past experience and protects the knowledge and the new inventions by providing the technology and the legal aid. Customer Capital Kohli jaworski(2000) defined the customer capital as the organisations ability to evolve the knowledge about market that is focusing on the cutomer desires and perceptions. This acquired knowledge is used by the organisations in response to the changing attitudes of the customers and the market. Organisations use this knowledge to have a contingency plan to tackle the threats produced from changing market trends. The definition provided by Bontis(1999) suggests the customer capital should be iterated as the relational capital that includes the relationships with the suppliers, partners and the investors in addition to the relationship with the customers. Human Capital Hudson(1993) defined the human capital as the composition of the inheritance, qualifications , experience with the opinions about life and business. It is further argued that the organisational employees are the key architects of the Intellectual Capital through their proficiency , opinions and expertise. The competence of the employees includes skills and qualifications and their opinions come under their behaviour and perceptions about work. The expertise is important in devising the innovative solutions to the problems. Furthermore, employees are an important asset for an organisation but they are not owned assets(Roos et al , 1997). Exploitation Of Intellectual Capital (Economical Perspective) It is suggested that the critical factor in the improvement of the economy is the proper utilization of the Intellectual capital .It is further noted that by increasing the tricks of Intellectual Capital will provide a competitive edge and the value of the firm will be augmented and specifically business will bring financial benefits. It is not a new thing that the intangible assets like brands, intellectual property , relationships are considered as a unprocessed input for the organization that increases the worth by the application of intelligence in possession of the organization. (Watters et al 2006 , Intellectual Assets Center , Glasgow, Uk). The research on the recognition and reporting of the intangible assets and the intellectual capital has brought them to the acute attention.The research believes that the intangible assets play a significant role in the creation of endurable competitive advantage with in the advanced organsations.Due to the expansion of the modern knowledge based economy it has become transparent that the intangible assets and the Intellectual Capital of an organization have become a platform in accomplishing the competitive advantage as compared to the hi-tech tangible assets(Drew , 1999). Tayles et al (2005) have described two doctrines in the realization of the intangible assets that provide the assistance in the achievement of the competitive superiorty. The research is continuously striving to find the authentic procedures to measure the intangible assets and the indices that provide a forecast of the future economical benefits based upon the doctrines that are prescribed by Tayles et al (2005).Firstly , the expanding financial statements of the companies is the idiosyncracy of its Intellectual Capital that give the edge on the market competitors. Secondly, is the inefficient justification of the Intellectual Capital in the expansion of the economy(Tayles et al , 2005). Skinner (1986) purported that with the utilization of the technology, manufacturing productivity can be achieved by the intangible assets of the company which are the authentic reagents of the prosperity and that justify the monetary investment. How the Companies Exploit the Intellectual Capital Case Study Kingston Communications(Hull) Plc is group of companies based in Hull,United Kingdom. The groups is presently offering the services related to information, communication technology and the telecommunications to the consumer markets in UK. The groups Brands include Affiniti,Smart 421,Jam IP(Integration and management services),Karoo, Eclipse, Mistral (Internet and Telecommunication services) and Hull Color pages and Know( Information Services). The group is Ammortising the its Intangible Assets that aquired in the Acquisitions.In 2007,the ammortisation on intangibles was à ¢Ã¢â‚¬Å¡Ã‚ ¤8 million(from Total depreciation and ammortisation).The group also has purchased the tangible and the Intangible assets worth à ¢Ã¢â‚¬Å¡Ã‚ ¤30.2 million.The Groups Controlled measures include, measuring the learning and development(p9),Customer Satisfaction. KM also believes that Human Resources when managed through and effective Policy can bring the Tangible effect on the companys performance. KM is running a development program to enhance the Knowledge and Intelligence of the employees.The company also manages the Relational (Custmer) Capital by arranging the meetings of the Directors on the Investor relations and the shareholders concerns specifically. The Company’s publishes its Financial Reports complying with the IFRS,however, the company also provides additional disclosures if compliance with the IFRS does not fullfil the requirements of the users(i.e External Stakeholders,External investors,Suppliers and the Customers) to understand the impact of certain transactions that have an effect on the financial performance of the company. Relational Capital Management and Policies Arranaging meetings with the shareholders time to time to discuss the company’s strategies and performance.Maintaining a investors relations function to encourage and improve the communication with the investors. The Goodwill of the Company in 2007 was worth à ¢Ã¢â‚¬Å¡Ã‚ ¤192.754 million(2006:à ¢Ã¢â‚¬Å¡Ã‚ ¤155.551 million) and the Intangible Assets had the value of à ¢Ã¢â‚¬Å¡Ã‚ ¤48.511 million (2006 : à ¢Ã¢â‚¬Å¡Ã‚ ¤39.450) according to the Balance Sheet on 31st march,2007. The Cash Flow Statement of the Company for the year ended 31st march,2007 also explicitly show the Amounts of the Ammortisation of Intangibles as compared to the tangible fixed assets.The Cash Flow statement also show the companys procurement of the Intangible assets à ¢Ã¢â‚¬Å¡Ã‚ ¤6.495 illion in 2007. The financial statements of the Company are prepared according to the principles prescribed by IFRS and IFRIC.These financial statements are based on the concept of historical Cost accounting.However, the statements are modified due to the revaluation of the financial assets to a fair value by using the income statement. Intangible Assets Identified by Kingston Communications The Intangible Assets of the Kingston Communication include: 1.) Goodwill 2.) Customer and Supplier Relationships 3.) Technology and Brands 4.) Software 5.) Development Goodwill The Groups Goodwill is reported in the acquisitions of the subsidiaries and it is the difference between the Cost of Acquisition and the Net Assets. The Goodwill is tested for impairment annually. Development The company’s intangibe asset that is developed through the research and development activities only when it fulfils the criteria of Intangible Asset Recognition prescribed by IAS 38 i.e the asset is identifiable,impact on future cash flows and the developmental costs of the assets are measured reliably.The estimated life of the internally developed intangible asset is 1 year and is also ammortised on a straight line basis. Valuation of the Intangible Assets in Kingston Commnuications The intangible assets that are acquired through the acquisitions are valued on the basis of their time value and the future impact of on the performance of the companies. Appraisal of Intellectual Capital in Kingston Communications The Kingston Communication is exploiting,managing and reporting its Intellectual Capital as tool necessary for the competitive advantage and for improving the future performance of the company. According to the companies policy the Intangibles Assets are included in the Balance Sheets in order to satisfy its investors and guarantee the future investments in the company. However, there are no benchmarks for the management and the evaluation of the these Intangible assets.Also, the company is not using the models for the Classification of these Intangible assets as suggested by (Kingston Hull plc , 2008) Measuring the IC (Performance)through strategies(Management Accounting) Simons(1999) suggests that the by measuring the performance of a company is basically the comparison of the outcomes of the business activities with the critical business targets. The traditional financial accounting utilizes two techniques to measure the Performance .These are Return on Capital Employed(ROCE) and Return on Assets (ROA). However , these techniques are condemned due to the fact that they are old fashioned , unable measure the intangible assets and are unable to appraise the stakes in the technology which is essential for the firm to compete in the global market(Bourne et al , 2000; Amir Lev , 1996). Valuation Methodologies(Performance Measures as well) The economic measure of the Profit yields the same result as the traditional accounting during the matching phase of costs and revenues by preserving the value significance. This is done by improving the financial reports with the disclosure of the concealed assets like the intangible assets and the investments in the long run(Simons , 1990). (It includes the tools and various methodologies ) Watters et al(2006) have discussed the application of a Scorecard assessment tool in the Scottish SME that provides a review that how efficiently companies are exploiting their Intellectual assets.The tool helps the SMEs to manage three areas of operations i.e Sales and Marketing , Research and Development and Human Resources. It assign the scores to activities that come under the three operational areas according to their effectiveness and links them to the strategic objectives of the firms. (Appendix 1) Brand Finance plc(2000) suggests that there are a lot of methods present for the valuation of the Brands, however there is a need to find an optimal one. Cost based methods of brand valuations show a disparity from its market valuation. The Market Comparison method is not efficient as it is difficult to obtain the comparison data. Royalty Relief method determines the royalty rate on the estimates of the income generated from brands. However , this method does not clearly states that how a brand is going to create value. The Economic Use method combines the consumer and the competitor to entitle the value to the brand.The last method is the most optimal method which is the Brand Finance that uses the Discounted Cash Flow (DCF) analysis in concluding the value for a brand.As the Discounted Cash Flow method valuation complies with the valuations performed by the financial analysts , accountants to check for the impairment of the intangible assets. Measurement of Intellectual Capital Why there is a need for the companies to measure the intellectual capital This is a very long debate that why companies need to measure the intellectual capital.There are several advantages of doing that. The term intellectual capital can be said to be â€Å"expandable† in terms of the Value and rewards. The greater the effort of a company the greater is a competitive advantage and greater is sustainability of the company. Nowadays companies and the firms have become Knowledge aware i.e they have now recognized the importance of the of the knowledge that creates value and sustainability. The Companies working in the Telecommunication, Pharmaceutical and the research technology sector specifically have to invest a lot in the Research and Development to compete and develop the innovative solutions to avail the opportunities in the market.Therefore, there is a strong need for these companies to devote themselves to measure and manage their intellectual capital effectively. However, it is very difficult to justify the investments in digging out the knowledge that creates value .These investments are rather very complex and unpredictable even if they are tested and analysed by the efficient tools for their proficiency. Some Organisations that are knowledge based are sometimes not sure about the amount of the Knowledge they have and the amount of knowledge they need tocarry out their functions internally and externally. That is the reason, these organizations loose the interest of the investors and therefore the investment. Balanced Scorecard (An Alternative to Balance Sheets) Kaplan Norton(1992) , presented the theory of the Balanced Scorecard for improving and tracking down the performance of an organisation. The authors suggest four dimensions such as Financial , Customer , internal business process and learning and growth. These dimensions are believed to provide a insight in to the current performance and identify the factors that can improve the future performance. A combination of the non-financial and financial measures are insufficient in determining the performance of an organisation. The main problem is that its just like a Wild Goose Chase as this amalgam of the performance indicators are not pursuing a specific business objective. Kaplan Norton(1996) believe that the both the financial and the non- financial measures must have a focus on a goal that has to be achieved in maintaining the sustainability. The authors further argue that the various measures provided by the balanced scorecard can help the organisation to plan a particular strategy and then can implement it across its subsidiaries, departments to share a common motive with trasnparency. A well planned BSC can hep the organisation to learn from the short-term reports that are generated and scrutinized through various perspectives. Andriessen(2004) suggests that the predicament of measuring the Intellectual Capital can be resolved by applying the balanced scorecard. It has been advised that the specified strategy plans can be created that guide the organisations to confidently invest in the human resources, technology and the structural capital. It is further revealed that by measuring and administering the intellectual capital can also help the organisation to convert its non-monetary achievements in to monetary achievements(Kaplan Norton , 2004). A study conducted by Hagood Friedman(2002) devised a way for the implementation of the balanced scorecard to measure the accomplishments of the human resource information system of a company. They have developed a system that uses the balanced scorecard as its foundation to improve the human resource information system in association with highlighting the goals and objectives of the organisation. Despite of its usefulness the Balanced Scorecard has some limitations. In this context Voelpel et al (2006) has identified five limitations of the balanced scorecard in its application in the modern economy. First being its inflexibility that is, it measures the performance of a company only in four perspectives by leaving behind some other perspectives out of attention. Voelpel et al(2006 ) explain the second limitation which is that the BSC is less efficient in accommodating the changes in the changing economy. The BSC a defines a strategy for a company and its subsidiaries to achieve a goal by neglecting the individual goals of a subsidiary as a consequence a company is unable to use its potential properly. The third one is that BSC focuses more on improving the internal performance of an organisation therefore by losing a link with the external world to exploit the innovation.The forth limitation of a BSC is that it focuses on the organisation in itself and provides no information about the actions of competitors. The fifth problem with the balance scorecard is that it goes straight in measuring the performance in a rational way .As a consequence the more complex predicaments are difficult to apprehend(Voelpel et al , 2006). A Comparison between the benefits that arise from intangible and tangible assets There are risks involved with the investment in the intangible assets like RD. Kothari et al(1998) have conducted a research by comparing the uncertainty of benefits associated with the tangibles and the intangibles assets. The methodology used for this research was the regression analysis of the future earnings variability involved with the expenditure in Research and Development and the tangible assets .Furthermore , the variables like firm size and the leverage are also used to define the boundary of a research.It has been illustrated by Kothari et al (1998) that the future benefits of RD investment are more uncertain than the tangible assets. Shi(2003) has analysed and studied the relationship of bond prices and the measures of RD expenditures and suggest that there is a fair risk involved with the spending of the RD projects that increases risk factor with the bondholders claims and hence are more riskier than the other projects. Issues in Intellectual Capital(Flaws in the IC Concepts) Bontis (2001) discovered a predicament with the intangibles assets is that there is no unique conception that is accepted by everyone. Every investigator or a consultant who contributes to the debate expects the approval and recommends his own jargon. Various other researchers have pointed out flaws in the definitions of the Intellectual Capital. According to Edvinsson and Malone(1997) the intellectual capital was the difference of Market value and the Book value. In contrast Upton(2001) recommends that the intellectual capital cannot be absolutely characterized by simply calculating the difference of market and book value. Following that Habersam and Piber(2003) advocate that the term intellectual capital cannot be determined by the difference of market value and the book value. Pragmatically, the difference can be influenced by some other elements that are not associated with the intangibles.Further research enumerates five components that can realize a change in the the stock prices which incorporates the recognised assets , company liabilities , legal events , shareholders equity and the timing issues(Garcia-Ayuso 2003). The benefits received by a firm cannot be attributed to the individual intangible Assets as such benefits are a result from the inter-cooperation of more than one Intangible asset. Therefore, it could be wise to value the intangible assets all together. It is further argued that the market value of a firm cannot be ascribed to the intangible asset