“Interests” and Accounting Standard Setting in Malaysia

AAAJ 12,3 â€Å"Interests† and accounting standard setting in Malaysia Faculty of Business and Accountancy, University of Malaya, Kuala Lumpur, Malaysia Keywords Accounting profession, Malaysia, Standards Abstract This paper offers insights into the conflicts and tensions within the Malaysian accounting profession and the power struggle therein to dominate the accounting standard setting process, within the context of a rapidly developing country.It shows how interest groups and parochial interests, along with issues of self-protection, affected the process of standard setting, which was controlled by different interests over the period under study. At one time the profession dominated. But far from being a monolithic body, it was in turn split according to various interests: the Big Six behind the Malaysian Association of Certified Public Accountants (MACPA) and the smaller firms behind the Malaysian Institute of Accountants (MIA).At other times big business prevailed. These conflicts and power struggles are revealed through an analysis of the case of the Goodwill Accounting Standard. Selvaraj D. Susela 358 Introduction This paper offers an understanding of the struggle within the accounting profession for control of the standard setting process, in the context of a developing nation. The focus on standard setting is specially geared to reveal the impact of that process on the profession, market, state and community, and vice versa.Susela (1996) illustrates that because standards clearly impact on practitioners (the profession), it is hardly surprising that they develop â€Å"interests† around standard setting, whether expressed through accounting associations or firms. The standard setting arena is here viewed as a site of struggle between interest groups, both within the profession and outside it. To date, no such study has been done of the Malaysian accountancy and standard setting domains. In particular, there has been very little scholarly a nalysis of events discussed here. The paper follows the actors and institutions involved in setting an accounting tandard based on goodwill, through a grounded study of the policy makers and their social context. The focus of the analysis is not the technical aspects of goodwill accounting but rather the process by which the standard was adopted. The analysis below highlights conflict within the profession, in particular the power struggle between vested interest groups: the Big Six and the smaller firms, or rather the chartered (including CPAs) and the non-chartered accountants. The author would like to thank the anonymous reviewers and the guest editor of this special edition for comments and suggestions that improved this article substantially.I also acknowledge the helpful comments of participants at the Fifth Interdisciplinary Perspectives in Accounting Conference, University of Manchester, UK, 7-9 July, 1997. The views expressed in this paper are solely the responsibility of t he author. Accounting Auditing & Accountability Journal, Vol. 12 No. 3, 1999, pp. 358-387. # MCB University Press, 0951-3574 The Goodwill Standard is an eminently suitable vehicle for empirical Accounting analysis. First, it is an issue which has been of concern to standard setters and standard setting regulators in Malaysia since 1971.Second, it is also intimately linked with the in Malaysia dynamic growth of the Malaysian economy and the shift in the state's objectives over the last 20 to 30 years. As these have recently involved encouragement of the corporate sector, a powerful group affected by, and 359 impinging upon, standard setting, tracking the goodwill issue is a way of analysing the corporate sector's entry into the standard setting process. Third, the historical analysis captures the changing attitudes to local initiatives versus overseas influences over time.Fourth, this is the only standard which was considered controversial at the time of the study. The existence of t wo accountancy bodies, the Malaysian Institute of Accountants (MIA) set up in 1967 by the state as a statutory body to regulate the accounting profession, and the Malaysian Association of Certified Public Accountants (MACPA) set up as a private association in 1958, complicates the notion of interests. The conflicts surrounding the two major professional bodies became the focal point as each strove to dominate the standard setting process. For a time, the MIA and MACPA collaborated on the GoodwillStandard. The outcome was the Malaysian Accounting Standard (MAS) 6, which required the amortisation of goodwill over 25 years. However, MIA adopted the standard in 1993, whereas MACPA deferred its approval. Furthermore, other players lobbied the state, and MIA was asked to defer its adoption of the standard. This paper analyses these events with a view to identifying the interests involved and the dynamic relationship between these interests. The discussion is organised as follows: the next section discusses briefly the notion of interests and the view of standard setting embedded in the empirical analysis.Then follows a brief review of the historical and institutional context in Malaysia, the object of which is to identify relevant features of the Malaysian context which may be unfamiliar to non-Malaysian readers. A historical analysis of the shifting fortunes of, and arguments put forward by, the various participants in the standard setting process appears in succeeding sections. The contribution of the paper is summarised in the conclusion. Interests Watts and Zimmerman (1978) heralded their study of the lobbying behaviour of companies as the beginnings of a theory that might explain the determination of accounting standards.Similar studies (Haring, 1979; McKee et al. , 1984; Watts and Zimmerman, 1986) also analysed the association between characteristics of respondents lobbying on specific accounting issues. The model employed was a â€Å"rational choice/rational actor† model. The concern in this section is not directly with the epistemological claims of the writers, although these claims have been subject to penetrating criticisms (Chua, 1986; Hines, 1988; Whitley, 1988; Robson, 1993). Rather, the aim is to contrast the approach taken here with the rational choice model employed by positive accounting theorists.AAAJ 12,3 360 Clearly, there are definite connections between actors' social locations and the interests they acknowledge or act upon, but there is no simple correspondence between the two (Hindess, 1989, p. 83). Actors are not mere creatures of their positions in sets of social relations, or their class, gender, or group. The forms of assessment available to them are rarely so limited as to be given uniquely by their social location. The conclusions of their deliberations depend on complex internal and discursive processes.They are not determined solely by the forms of assessment employed. This implies that interests do not f unction as a mere transmission device between social structure, on the one hand, and individual action, on the other. Interests cannot determine the means whereby the structure of society produces its effects. In other words, social structure is by no means a given entity operating outside of and above actors, manipulating them to produce its necessary effects. But this does not negate the perception of the existence of relatively pervasive and enduring social conditions.Instead, it provides a view of interests as â€Å"conceptions†. If they are to have consequences, it must be possible for them to be formulated by some actor or actors, and in this or some other way, to provide them with reasons for action. Therefore, the interests and reasons for action developed by actors depend on how they assess the contextual resources they are in a position to employ. Robson (1993) uses this mode of inquiry in his study of SSAP 13 on Research and Development.Being attentive to the forms of assessment utilised by actors in the standard setting process, he suggests not only that interests are an outcome of a historical process but that the identification of a particular accounting issue as a problem is also the outcome of a historical process. The conditions under which an accounting issue is conceived as a problem at a specific point of time are seen as matters for investigation (Hindess, 1988, 1989; Robson, 1993). In other words, any accounting standard contains a â€Å"representation† of a specific social and political context.Cooper and Sherer (1984, p. 208) contend that: . researchers should be aware of the possibility that actual policy outcomes may be an imperfect match with the underlying intentions and motivations; and . the strategic consensus and patterns of outcomes (in this case the accounting standards) may more or less consistently support some specific interest above others. These tenets have guided the analysis of interests presented below. O ne important implication is that analysis of standard setting must not be restricted to key actors in isolation.Instead, an overall understanding of the domestic political economy and the global political economy is necessary. Figure 1 shows that the interaction of the four organising principles  ± the state, the profession, the market and the Community  ± has to be studied within the local and global context, with due emphasis on the specific historical and DOMESTIC POLITICAL ECONOMY Interaction of State, Profession, Market and Community Constituencies of Regulation Interaction of Various Interest Groups Standard-setting Accounting standard setting in Malaysia 361DOMESTIC POLITICAL ECONOMY Stages of Economic Development Colonial History Socio-political economic systems GLOBAL POLITICAL ECONOMY Impact of Transnational Corporations International Trade International Accounting Standards International Accounting Firms Figure 1. Framework for understanding the accounting standard se tting process institutional environment of the society in which accounting operates. It must be recognised that the economy is now dominated by large corporations, and that the state is actively involved in managing the economy (Jesudason, 1990).The historical and institutional context Brief history of the accounting profession in Malaysia Since its formation, the MACPA has been actively involved in providing its members with technical guidance and training as well as setting the professional examinations. The dominant force behind the MACPA is the chartered accountants (CAs) from the UK and Australia. During the period 1958 to 1967, there was no legislation to regulate the accountancy profession.There were in Malaysia many accountants trained through various overseas bodies, with the balance trained through local examinations and training conducted by the MACPA, the only active local accountancy body during this period. Its membership consisted mainly of foreign qualified accountan ts, specifically CAs from the UK and Australia, and a handful of local CPAs. Membership of the Association of Certified Chartered Accountants (ACCA) in Malaysia was also growing. The Big Six[1] supported the MACPA and locals training in the Big Six firms were encouraged to sit the MACPA examinations.However, ACCA and Australian Society of Accountants (ASA) members received little support from Big Six firms (Susela, 1996). The ACCA and ASA AAAJ 12,3 362 graduates found it difficult to gain MACPA membership[2]. The state was persuaded by disgruntled ACCA and ASA members to set up a local authority to regulate the accountancy profession. The Accountancy Act 1967 provided for the registration of accountants and the establishment of the MIA. The MIA recognised ten professional bodies for admission purposes  ± the ASA and ACCA included.However, MACPA continued to dominate the development of the accountancy profession as the MIA was content with the statutory function of registering acco untants practising in the country (MIA, 1987). Since 1973 there have been several attempts by the two bodies to form a single national body through merger (MACPA, 1974). The state was keen to see the two bodies merge. At one stage the then Deputy Prime Minister (currently the Prime Minister) supported the formation of a unified profession (MACPA, 1980). Finally, the two bodies arrived at a merger proposal which was submitted to Cabinet but was rejected in 1985 (MACPA, 1985).The reasons for the failure of the merger are examined below, at the empirical stage. When the merger proposal failed, the Ministry of Finance in 1986 appointed a practising accountant (formerly a Council member of MACPA, and partner of a Big Six firm) to become MIA President, replacing the Accountant-General who had served as President since 1967. At the first Annual General Meeting of MIA held in September 1987[3], 700 out of over 2,500 ACCA members attended and voted in a new Council committed into turning MIA into an active regulatory professional body (De Freitas, 1992).The history of standard setting (focussing on goodwill) MACPA was at the forefront of developing and issuing accounting standards prior to the activation of MIA in 1987. Standard setting activities commenced during the early 1970s. The relatively laissez-faire atmosphere of the 1960s was replaced by greater state intervention with the introduction of the New Economic Policy in 1970, which sought to increase the Bumiputras[4] ownership of the corporate sector to 30 percent by 1990.Part of the effort to restructure the society was directed at reducing foreign ownership of assets in Malaysia. The New Economic Policy created an environment conducive to corporate mergers and takeovers (Tan, 1981, p. 9). Several foreign-owned companies were acquired by local corporations and by public enterprises operated by the state. The Malaysian government set up various government-controlled organisations to acquire interests in the corp orate sector in trust for Bumiputras.In circumstances such as these, the intention of such planned acquisitions was to achieve socio-political rather than corporate objectives. In this process, huge amounts of goodwill were recorded by big conglomerates. A Technical Committee was set up by MACPA in 1971, its immediate function being to act on a letter dated 10 September 1971 sent by Bank Negara Malaysia (the Central Bank) to the then President of MACPA[5], which pointed out, amongst other things, that there was a need for: . . rofessional standards to guide reporting by the accounting profession; Accounting guidance on specific accounting matters, including revaluation of assets, standard setting the creation of goodwill, and the criteria by which accountants would be in Malaysia prepared to recognise such items, and the treatment of stock in trade (MACPA Technical Committee, 1971). In that letter the Governor also urged that â€Å"MACPA take steps to establish for its members a st atement of generally accepted accounting principles and a statement of generally accepted auditing standards†.In the same letter, the Governor referred to the issue of goodwill as follows: F F F these analyses give rise to serious reservations about the upward revaluations of certain assets and the creation of â€Å"goodwill† by companies prior to offering their shares to the public or applying for listing on the Stock Exchange †¦ Generally, our Committee tends to view â€Å"goodwill† with scepticism and I would like to have the assurance that the auditing profession would not support the valuation placed on goodwill without full confidence that it is fairly stated. 63 After 1976, the MACPA Technical Committee undertook the review and consideration of international accounting standards (IASs) for possible local adoption, as well as studying the accounting policy of industries of particular importance to the Malaysian economy, or otherwise of interest to Mala ysia. During this phase (1970-1980), standard setting was very much an ad hoc activity as basic infrastructure was being put in place.The Central Bank, the Capital Issues Committee (CIC  ± part of the Ministry of Finance) and the Kuala Lumpur Stock Exchange (KLSE) were setting the standard setting agenda in a context where the proliferation of IASs was noted and welcomed, particularly as IASs were regarded as a means for achieving international recognition (Susela, 1996)[6]. However, beginning from 1980, the focus of the standard setters was on developing guidelines on issues that were peculiar to the Malaysian environment and for which there were no IASs, or where the IAS treatment was contrary to local legislation.Hence the emphasis was directed towards developing technical bulletins and recommendations which were later issued as definitive Malaysian Accounting Standards (MAS). When the International Accounting Standards Committee (IASC) issued IAS 22 on Business Combinations in 1985, two issues were found to be contentious in the Malaysian environment: (1) merger accounting; and (2) accounting for goodwill. MACPA had to consider two separate accounting standards to deal with these issues adequately. MAS 2 on Accounting for Acquisitions and Mergers was issued in 1989.Goodwill was the other issue. Why goodwill was a particularly problematic issue is clarified in the empirical section. Until 1986, MACPA issued its own standards (or adapted IAS standards) for adoption by its members. There was no other standard setting process. When the MIA was reactivated in 1987, it adopted all the standards previously AAAJ 12,3 364 adopted by MACPA. On 14 April 1986, a Joint MIA/MACPA Working Committee had been formed to discuss possible co-operation between the two bodies.From May 1987 until 1992, all technical standards were developed jointly by MIA and MACPA and issued as joint statements. The efforts of the Joint MACPA/MIA Working Committee resulted in the establishmen t of a Common Working Technical Committee in March 1989, consisting of members of MACPA and MIA. This also marked an important era in the standard setting history where both bodies worked jointly on the standards, especially addressing issues pertinent to the local environment, for example, MAS 1 on Earnings Per Share; MAS 2 on Mergers and Acquisitions and MAS 5 on Accounting for Aquaculture.One of the standards that resulted from this joint effort was the Goodwill Standard. Although the Goodwill Standard had been on the agenda of the MACPA Technical Committee since 1971, it was not pursued until much later. It is not clear why this was so[7]. The issue was raised several times by the CIC and the MIA was approached to develop a standard in 1987[8]. This prodded both bodies to work jointly, as by this time MACPA had immense expertise in standard setting.The MIA, in its enthusiasm to take over the leadership of the accountancy profession and maintain its privileged corporatist arrange ment with the state, and MACPA, in its eagerness to uphold the self-regulatory status quo, seized this opportunity to demonstrate their responsiveness to the call from the state and the prevailing â€Å"public interest† rhetoric. On 1 July 1987, the Presidents of the MIA and MACPA signed a circular to members which contained a questionnaire inviting comments on a discussion paper on goodwill accounting.The views received were so diverse that the issuance of a standard was deferred. While the debate continued, the need to establish an acceptable method of goodwill became more crucial. However, the two bodies did not pursue the matter until there was further prompting from the CIC. The CIC decided to take matters into its own hands by including in its guidelines subsection 17. 51 (CIC, 1991), which specifically states: Intangible assets fall into two (2) broad categories as follows: (i) (ii) goodwill; and identifiable intangible assets, such as patents, franchises, etc.The firs t category should be treated in accordance with the relevant accounting guidelines or accounting standards acceptable to the CIC. The second category should be amortised systematically over its useful economic life. It should not be revalued or have previous amortisation reversed and it should be written off immediately in respect of any permanent diminution in value. The promulgation of the CIC guidelines was considered to be timely (Tan, 1991, p. 3). However, it left many issues unanswered, such as the recognition and measurement criteria for intangibles.It was recommended that these issues be addressed using a holistic approach, and that the local professional bodies were most qualified to deal with the issues. This led to the next line of action by MACPA and the MIA: the Accounting commissioning of a study by an academic to determine the extant practice of standard setting goodwill accounting in Malaysia. A survey of published annual reports of 276 in Malaysia companies listed o n the main board of the KLSE was conducted in 1991. It was found that 155 of the 276 companies had a goodwill accounting policy.The treatments used were as shown in Table I. 365 The analysis clearly indicated a diversity of goodwill accounting treatments adopted by publicly listed companies in Malaysia. In fact, there was quite an even spread of companies between the three major approaches to goodwill. The MIA/MACPA subsequently jointly reissued another discussion paper on goodwill to obtain views from members and user groups on the preferred treatment of purchased goodwill. The revised discussion paper was issued in August 1991. A total of 112 responses were received.An analysis of their preferences is shown in Table II. Note that Table II refers to the preferred method of accounting for goodwill rather than the actual method used by listed companies. Of the respondents, 69 percent were senior officers of commercial, industrial and financial institutions. The preference for the amo rtisation method at that time contrasts both with the diversity of practice and hostility shown to this method later[9]. Based on the comments obtained, MAS 6 was issued as an exposure draft by the MIA in September 1992.MAS 6 was based on the UK ED 47, which had raised considerable controversy in the UK and had been shelved by then. However, based on the same responses to the survey, MACPA decided that existing views were too diverse and decided to defer MAS 6 until the fate of the UK ED 47 was determined. MAS 6 required that goodwill be amortised over 25 Treatment of goodwill Amortisation Permanent item Immediate write-off Others Total Source: Tan (1991) Number of companies 55 52 42 6 155 Percent 35 34 27 4 100 Table I. Treatment of goodwill  ± 1990 surveyTreatment of goodwill Amortisation Permanent item Immediate write-off Total Source: Tan (1991) Number of companies 85 25 2 112 Percent 76 22 2 100 Table II. Treatment of goodwill  ± preferences AAAJ 12,3 366 years. Although th e standard was the result of the joint effort of both professional bodies, MACPA decided to defer adoption of the standard until the IASC issued its revised standard on goodwill. Due to the disagreement over the adoption of the final standard (MAS 6), the Common Working Technical Committee was dissolved in 1992 and the MACPA/MIA collaboration accordingly ceased.It has been hinted (by most respondents from the profession and market, in particular, from both MIA and MACPA committees) that the goodwill issue contributed significantly to the cooperative gesture on the part of both the bodies, as well as to the subsequent dissolution of the co-operative charade. After the Committee was dissolved, both professional bodies pursued separate ways of developing standards. The now separate accounting standards committee of the MIA recommended that the MIA Council adopt MAS 6 in 1993 as a definitive standard to be effective commencing on or after 1 January 1995, whereas MACPA deferred its adopt ion.This led to confusion. It also threatened MACPA's control over standard setting and over the profession more generally[10]. The adoption of MAS 6 raised objections from certain big corporations, and the Federation of Public Listed Companies (FPLC)[11] decided to take the matter up with the Minister of Finance, who referred the matter to the MIA. A memorandum, submitted to the MIA by the FPLC, was delivered by hand to the MIA on 6 December 1993. The MIA firmly initially stood by its decision to implement the Standard.However, towards the end of 1994, faced with increased state pressure, the MIA deferred implementation of the standard to 1 January 1997. In July 1997, the Financial Reporting Act 1997 was passed and the Malaysian Accounting Standards Board (MASB) was formed to issue legally binding accounting standards[12]. Apparently, standard setting activity was taken out of the hands of the profession. Subsequently, the Companies Act 1965 was amended to require compliance with a pproved accounting standards[13]. Until the establishment of MASB, enforcement of standards had been undertaken by the professional bodies.However, this mechanism was felt to be less effective as the profession could only take action against their own members rather than the directors responsible for financial statements. MACPA and MIA members were likely to be auditors or employees rather than directors of non-complying companies (Susela, 1996). With accounting standards now enforceable by law, the stakes for players affected by the number of accountants were raised, intensifying the contested nature of standard setting. Interaction of state, profession, market and community Puxty et al. 1987) identify three organising principles of accounting regulation. Within each principle, there are actors. Puxty et al. (1987) refer to â€Å"diverse state managers† such as politicians and senior civil servants representing the state; â€Å"agents of factions of capital† represent ing the market, and representatives of organised interest groups representing the community. An explicit corporatist Accounting theorising is built into Streeck and Schmitter (1985), which raises the standard setting possibility of a fourth organising principle, the â€Å"corporative-associative†.This in Malaysia implies an acknowledgment of a substantial degree of autonomy on the part of the state from the business sector (market). In Malaysia, the state has shown that it is capable of pursuing interests other than that related directly to the 367 economic sphere (Jesudason, 1990). Most notably for our purposes, the state intervened in accounting regulation in 1967 by setting up the MIA, a move seen as aiming to achieve social objectives. In particular, with the implementation of the New Economic Policy, the state sought to adjust the economic inequality among the various races.The setting up of the MIA was viewed as a step to increase the number of Bumiputra accountants in the country. Under the Accountants Act 1967, accounting graduates from local universities were given recognition by the MIA, thereby significantly increasing the accountant population, especially amongst Bumiputras (Susela, 1996). Under the corporative-associative arrangement devised in Malaysia some power and autonomy of the state was delegated to the MIA. It was this arrangement that an activist MIA used some 20 years later to attempt to usurp the standard setting authority of MACPA.This paper views institutions and practices as an outcome of interactions between parties who are positioned within a structure of politico-economic relations that is simultaneously united and divided by internal contradictions, tensions and struggles. Accordingly, the actions and accounts of these parties are theorised as an expression of the fusing of the principles of market, state, association[14], and community. Actors As noted earlier, certain modes of analysis only recognise human individuals as actors (for example, rational choice; liberal political economy).However, the importance of actors other than human individuals, such as capitalist enterprises, churches, political parties, state agencies, trade unions, and professional associations, has been recognised. Hindess (1989, p. 92) calls these social actors and argues that they have a place in social inquiry. On the other hand, Puxty et al. (1987) note that it is a mistake to stress the explanatory power of structural conflict if the effect is to deny or neglect the critical role of agents in the reproduction of social systems.They argue that although the agents are clearly conditioned by the location of their positions within the class structure, the â€Å"inventive† responses by the agents to the manifestation of contradictions that are continuously â€Å"thrown up† are not programmed by this location. The â€Å"state, profession, market and community† categorisation is not used here to suggest tha t predetermined interests are thereby created or presumed. It is against this background that the conceptions of â€Å"interest† formed by individual actors are discussed below.However, it is necessary first to identify the actors whose conceptions will be analysed. AAAJ 12,3 368 Constituencies of standard setting in Malaysia At various times, different institutions and interested parties have become involved with the standard setting process. These parties, referred to here as constituencies[15] in the standard setting process, form the target group for the empirical study. Through the review of the annual reports of both MACPA and MIA during the period 1971 to 1995, a listing of all persons involved in the accounting standards committees of both bodies was constructed.A total of 101 persons were involved. This represented the initial research sample and a total of 101 letters were sent out. The breakdown of the respondents is provided in Table III. The sample has been categ orised[16] according to the social location of the actors as follows: State: (1) Ministry of Finance. (2) Treasury. (3) Accountant General. (4) Bank Negara Malaysia. (5) Securities Commission. (6) Inland Revenue Department[17]. (7) Director General of Insurance. (8) Auditor General. (9) Registrar of Companies.Profession: (1) The â€Å"Big Six† public accounting firms. (2) Small and medium public accounting firms. Market: (1) Listed corporations. (2) Unlisted corporations. (3) Investors' association. Response Initial sample State Profession Market Community Total 19 45 23 14 101 Percent 19 45 23 14 100 Number 12 26 16 11 65 Percent 18 40 25 17 100. 0 Table III. Analysis of responses (4) (5) (6) (7) (8) (9) (10) (11) The Kuala Lumpur Stock Exchange. The Federation of Public Listed Companies. Multinational companies.Financial institutions. Merchant and Commercial Banks. Tax and Management Consultancy firms. Federation of Financial Analysts. Association of Merchant Bankers. Accou nting standard setting in Malaysia 369 Community: (1) Institutions of Higher Learning. (2) Other institutions such as the Institute of Strategic Issues (ISIS), Malaysian Institute of Economic Research (MIER), Malaysian Economic Association (MEA), Institute of Surveyors. (3) Consumers' Association. (4) Trade Unions. (5) Environmental groups.The responses of the above 65 actors to follow-up in-depth interviews provide the evidential basis for the empirical analysis below. In order to maintain the anonymity of the respondents in this paper, the respondents are quoted by reference to the interview number, that is interview number 1 to 65 (i-no-1 to ino-65). A brief overview of the constituencies and actors involved in goodwill standard setting is provided below, prior to the discussion below of the conceptions of â€Å"interests† brought into play in that arena.From Table III, it can be noted that participants from the profession (45 percent) and market (23 percent) formed the bi ggest group of players in the standard setting process. With regard to the professional accounting bodies, up until the formation of the MASB, the standard setting machinery operated under the auspices of MACPA and the MIA (from 1987). They were the standard setters. As late as 1995, one practitioner noted that â€Å"the way standards are set today and what it was, in the last ten years, has not changed dramatically as to who are the key players doing it† (i-no-18).However, as argued below, the corporate sector had lately been adopting an active role and the autonomy of MACPA and the MIA from the corporate sector were subsequently questioned, or compromised, or both. The accounting firms were identified as players in the process (i-no-18), but they did not speak with one voice. Most respondents emphasised that it was the Big Six (predominantly CAs and CPAs) that were the major players in the standard setting process in the MACPA camp, whereas the smaller firms drove the show in the MIA (predominantly ACCA members). However, until the AAAJ 12,3 370 ormation of the MASB, the significance of this division derived from the fact that standards issued by MIA were influential with respect to all accountants, whereas standards issued by MACPA impacted only on its own members. The participation of the major publicly listed companies, including multinationals, in standard setting increased in tempo with the rapid growth in the country. In 1992, MACPA set up a Commerce and Industry Committee to â€Å"ensure that the interests and views of members in commerce and industry are properly reflected in the Association's policies and activities† (MACPA, 1992, p. ). The involvement of commerce and industry came to the fore with the MIA's adoption of MAS 6. The business sector had previously been quite content with the standard setting regime until a standard was adopted that appeared unfavourable to a lot of the publicly listed companies. Even then, the FPLC only b ecame involved when MACPA's request to the MIA to defer the standard was turned down (i-no-8). Multinationals had various representatives, accounting and others, participating in the regulatory authorities and also in the profession.As one multinational respondent explained: I am in MACPA, we have got people in MIA, we have got people in MIT (Malaysian Institute of Taxation), MAICSA (the Malaysian Association of The Institute of Chartered Secretaries and Administrators), CIMA (Chartered Institute of Management Accountants)  ± we encourage people to participate in local regulatory bodies. Our chief executive used to sit in the CIC (Capital Issues Committee) before the present SC (Securities Commission) was set up (i-no-64).While some respondents welcomed the involvement of multinationals in standard setting because of the resources they might contribute to the process, others were also aware that the multinationals had their own agendas (i-no-64; i-no-9). Many respondents (e. g. i- no-34; i-no-13; i-no-3) claimed MACPA was stalling on the goodwill standards because of objections from industry: There was a lot of objections from industry and might be MACPA in some ways foresaw that and it did not want to get involved in that sort of problems. But MIA did  ± they are new? ecause they new to the game and did not think it will be a problem. They thought they can make a rule and impose it (i-no-34). The Accountant General was seen by some respondents (i-no-7; i-no-10; i-no-22; i-no-28; i-no-35; i-no-37; i-no-51) as the intermediary between the profession and the state and was believed to be on the MIA Council in order to represent the national interest. The extent of the Accountant General's involvement in standard setting was unclear. Although not a member of the Accounting Standards Committee, he was a member of the MIA Council that approved the Goodwill Standard.The Accountant General's view was that due consideration was not given to the views of all parties potentially affected by the Goodwill Standard. The state's views on the standard were not considered before the adoption of the standard, as one might expect in a corporatist context. This view was supported by one respondent from the Accountant General's office, who said that the state only reacted after the Goodwill Standard had been issued (i-no-35). Subsequently, however, the state called a meeting of the MIA nd the other parties to discuss the objections to the standard and the Ministry Accounting of Finance â€Å"requested† the MIA to defer MAS 6. standard setting As previous sections have noted, regulatory bodies such as the Bank Negara in Malaysia and the CIC[18] played a significant role in getting goodwill onto the standard setting agenda of the professional bodies in the 1970s and 1980s. In addition, the perception that accountancy might become an occupation to which 371 Bumiputras could be directed was part of the New Economic Policy.By the 1990s, however, with th e corporate sector and the Big Six lobbying strenuously against MAS 6, the state did not feel inclined to defend the standard. Accounting standard setting and interests Perceptions about the professional bodies As shown in Appendix, respondents were asked six open-ended questions. The third question was aimed at understanding perceptions regarding the existence of the two professional bodies. The question was as follows: The proposal for a merger of MIA and MACPA is again being pursued.Why do you think this issue is currently being pursued in spite of failures of such attempts in the past? Do you consider that circumstances have changed now? Certain themes have been extracted from the transcripts of interviews on grounds of their relevance to issues raised in this paper. As noted earlier, the professional bodies had discussed merging in the early 1970s. Eventually, a merger proposal was submitted to Cabinet in 1985 in order to amend the Accountants Act 1967 accordingly. In fact the merger was encouraged by the Deputy Prime Minister at that time.However, the proposal was rejected. A common understanding from the accounts of respondents within the profession was that the merger was seen by some groups as contrary to their interests. For example, the Institute of Cooperative Auditors, which had approximately 40 members at that time, wanted to be included in the merger, a demand not acceded to by other key players (i-no-3). Following successful lobbying of the Ministries concerned, the opposition of a key Minister to the merger was sufficient to derail it[19].One respondent recounted the situation when the merger proposal was rejected. There was rising discontent within the ACCA regarding its lack of activity vis-a-vis MACPA. This inevitably led to strong support for the A reactivation of the MIA. The efforts of the newly appointed President (a discontented former MACPA Council member) to revive the MIA and establish it as the one and only national professional bo dy were supported by the ACCA camp (i-no-24; i-no-33). One ACCA member noted further that â€Å"those who got into MIA from ACCA then had a bit of `missionary' zeal† (i-no-29).He reasoned that when MIA was resuscitated, the ACCA members feared that if they did not take an active role in running the MIA, then it would become another MACPAcontrolled body. In 1994, the two bodies were subtly forced[20] to sign a memorandum of understanding to work towards a merger. At the time of the field study, the AAAJ 12,3 372 negotiations between the two bodies were in earnest. However, by the end of 1995, the talks were called off. Most respondents (from the profession and the market) alluded to the existence of friction and professional jealousy between MIA and MACPA.This dynamic was seen to contribute to the intensity of the struggle over standard setting, as that arena was one where the dominance of one body over the other could be sought and resisted, and the outcome made more or less visible. Contributing to the struggle was the fact that both bodies were supported by â€Å"powers† seen to be equally dominating (i-no-19; i-no-16; ino-17; i-no-48). Respondents also noted that MACPA supporters were concerned about the withdrawal of government recognition if it did not get in with MIA (i-no-23).It was felt that the rivalry between the two bodies extended to the arena of standard setting. As noted previously, MACPA's Accounting Standards Committee was viewed by respondents in the profession as dominated and supported by the Big Six, and it was said to have the advantage in terms of technical support and resources. On the other hand, MIA's Standards Committee was dominated by small firms. As noted by a former Chairman of the Committee, its concern was with parochial interests (i-no-13).This comment from a practitioner typified the feeling: F F F really MIA in all respects has done a lot for the smaller accountants but they have lost a sense of perspective in d ealing with MACPA. I know there have been lots of provocation on both sides and that has all mucked up the standard setting process (i-no-43). Views about the profession Respondents from the state revealed mixed perceptions about the profession. On one hand, those who had been in close contact with the profession (i-no-14) had reservations about its ability to set standards.On the other hand, those who were mere observers (not in touch with the developments in accounting circles) still held onto the image of the professional as being somewhat â€Å"neutral† (i-no-22; i-no-59). The views of practitioners differed between the Big Six and others. On one hand, the Big Six practitioners were of the view that the profession needed to be more proactive and responsive to change, to be flexible and visionary (i-no-18; ino-29; i-no-57). It seems the profession was beginning to acknowledge other â€Å"players† in the standard setting arena.There was also a willingness to allow ma rket forces to play a role. On the other hand, the small practitioners emphasised the notion of holding onto the ideals of â€Å"sanctity† and independence. However, they conceded that accounting might not be as â€Å"objective† as it has made itself out to be (i-no-8; i-no-24). The market respondents (mostly businessmen who were also accountants and members of the professional bodies) stressed the need for a unified profession (i-no-47; i-no-15) and they saw themselves as important players in the standards setting process (i-no-2; i-no-3; i-no-15).The perception amongst the business community was clearly that accounting standards should facilitate business, and that the accounting profession's role was to serve the business community. There was unanimous agreement that accounting Accounting standards should not be the monopoly of the accountants and that the standard setting profession should not be left to regulate standards because of vested interests in Malaysia (i -no-12; i-no- 52). The community respondents emphasised the ethical foundations of the profession.There was still a sense of â€Å"respect† accorded to the profession. In 373 particular, the moral obligation associated with being accorded the status of a profession was emphasised by such respondents, who further saw the involvement of the state in accounting regulation as being limited to achieving socio-political goals. Some respondents held that the MIA was set up to partly ensure the New Economic Policy objectives were met in terms of ethnic composition of professionals.Their feeling was that the state should be involved in the development of the profession as a whole, but at the same time they supported self-regulation. A clear message comes through from the analysis of the perspectives of the four groups. The state respondents had become aware that the profession had internal conflicts and vested interests. They gave the impression that although the state might have an i nterest in the development of the profession, they preferred to keep an eye from a distance.That is, division within the profession had not seriously disrupted the commitment of state agencies to corporatism. The profession and market respondents were also aware of the internal struggles and conflicts and therefore wanted to be actively involved in the regulatory process. However, the community respondents, whilst acknowledging conflict within the profession, preferred to hold onto the notion that â€Å"the profession knows best†. To summarise: the internal conflicts and tensions within the profession impacted on the standard setting process.The MIA, the national accountancy body with the advantage of being formally constituted as the accounting player in corporatist arrangements, became a problem for MACPA when the MIA was reactivated in 1987. Because of the close links between MACPA and the Big Six, the MIA's adoption of an active stance was a threat to the Big Six and the foreign accountants employed by them. MIA, representing quite different constituencies, became a vehicle through which small, indigenous firms could become involved in standards setting.In particular the authority inherent in corporatism gave the MIA constituents the opportunity to usurp the authority of their MACPA counterparts in an important arena of professional activity. It was precisely the Goodwill Standard that provided the first opportunity to exercise that authority. However, the respondents' comments indicate that the struggle between MIA and MACPA was conditioned by and a function of the authority of other powerful players, for example the state and, most particularly, the business sector, as will be shown below.Accounting for goodwill: analysis of discourses Analysis of responses to question 6 (in Appendix) is discussed in this section. The question was: â€Å"What are your feelings about the Goodwill Standard issue? † AAAJ 12,3 374 The aim in this section is not to validate or dispute these claims but rather to draw attention to the conceptions of â€Å"interest† they reveal. The issues raised fall into three categories: (1) those concerned with the technical and professional rivalry; (2) those concerned with socio-economic consequences; (3) those concerned with the need to study the problem in relation to the specifics of the Malaysian environment.Concerns about technical and professional rivalry An MIA Council member (i-no-58) believed the Goodwill Standard was objected to because it was perceived that MIA was trying to lead the world. The respondent admitted there was a lack of understanding of the issues: F F F in fact the FPLC people were with us too. The secretary was surprised that amortisation of goodwill you can still pay out dividends. It is just at group consolidation only. Just affects group accounts  ± does not affect the companies' accounts †¦ There was a lack of understanding of accounting.Because everybody tho ught that goodwill here is mostly brands, patents and those sort of things  ± we are not talking about that  ± it is just goodwill on consolidation. This position focuses on the impact of MAS 6 on dividend policy. Opponents of the standard  ± even the FPLC, cited here in support  ± later criticised it on the basis of its socio-economic consequences. As well as illustrating further the shifting of positions throughout the goodwill controversy, the MIA Council member's statement could be seen as part of the MIA's concern with technical purity.Those arguing on the basis of generally accepted accounting principles also supported the implementation of the standard because the amount of reported goodwill was rising as intercorporate acquisitions proceeded; hence the need to implement a standard (i-no-20; i-no-42; i-no-33). Another argument used by the proponents of MAS 6 (especially the MIA Council) was that the standard, apart from allowing a longer maximum amortisation period (2 5 years instead of 20), was similar to overseas standards and therefore should apply to Malaysia. However, it appears that there were other concerns as well.In particular, the then Chairman of the MIA Standards Committee recounted: I was Chairman  ± I had no role in so far as structuring the Goodwill Standard  ± I was chairman of the committee which passed a resolution to say â€Å"we adopt it† and recommend the Council to adopt it †¦ We were not concerned with the technical aspect of the Goodwill Standard †¦ were concerned with the administrative aspect and I did an administrative role  ± MIA can't be subservient to MACPA (i-no-8). The link between professional rivalry and standard setting is apparent here.Socio-economic and political issues Opponents of MAS 6 attacked the MIA's technical arguments. Those concerned with the socio-economic consequences argued that the accountant's concept of goodwill is merely a meaningless balancing figure, the result of an a ccounting treatment which produces meaningless information (i-no-2; i-no-3, i-no-15). In Accounting 1992 Price Waterhouse circulated a document to clients which stated: standard setting The proposals as set out in the exposure draft on accounting for goodwill would, if adopted, have a major impact on the earnings record of many Malaysian Groups.We, therefore, encourage you to consider the proposals carefully and write to the MIA and MACPA (Price Waterhouse, 1992). in Malaysia 375 Soon after, the FPLC produced a memorandum (1993, p. 8) which claimed that MAS 6 â€Å"ignores business and economic realities†. Echoing the Price Waterhouse position, it claimed that goodwill amortisation reduces postacquisition earnings and is a disincentive to businessmen and entrepreneurs who assume significant risks in their investments, thereby discouraging the growth of companies through mergers and acquisitions (FPLC, 1993).A practitioner from a Big Six firm simply said â€Å"there is a broa der picture to it† (i-no-19). Another respondent expanded on this broader picture: F F F we are arguing that we are in the stage of experiencing growth and therefore, it might be too early to adopt the goodwill standard as it might have a severe impact upon the profit of listed companies (i-no-20). Other opponents also made similar arguments, adding that goodwill amortisation would, in the absence of associated tax relief, hamper development of capital markets through its impact on reported earnings.The other concern expressed was that Malaysian companies would be placed at a competitive disadvantage by the standard. A practitioner from a Big Six firm explained: F F F they actually said †¦ â€Å"look †¦ why don't we just ride for a while †¦ first, given that IAS 22 was then under revision †¦ let us look where, which direction they are moving and when that standard comes we can look at our standard, I think also looking at UK, there isn't a need †¦ why should Malaysian companies be put at a competitive disadvantage? ‘ (i-no-33). Another respondent (an analyst) remarked: F F F some of us are able to see beyond accounting policies  ± the significance of it †¦ if you are really looking at the economic worth of the company, you know that whether you write off goodwill over 40 years or one year or whatever, the economic worth of the company is the same †¦ it is just an accounting policy (i-no-11). In the analyst's view greater discussion should have ensued among the various interest groups on the economic consequences of the standard.The â€Å"economic consequences† discourses cited here indicate how the interests of the corporate sector were now being constructed and represented through a vision of commercial reality standing in contrast to the arcane technical discourses of accountants[21]. Whatever the validity of these claims, the interests of the sector were now firmly embedded in debates about standard s etting. Consideration of the specific nature of the economy Some respondents appealed for a consideration of the specific nature of the Malaysian economy, pointing out that Malaysia was a developing economyAAAJ 12,3 376 with particular state policies in place. The result was a unique socio-economic context that required consideration before any standard on goodwill was imposed. For example, a former banker pointed out that it was the peculiar regulated environment in Malaysia that created huge goodwill accounting numbers, some portion of which might be represented by identifiable intangibles. MAS 6's amortisation requirements were problematic because they did not acknowledge that Malaysia was different: F F F my concern now is the user †¦ ow I am on the other side †¦ when I look at some standards, I say, it is not practical †¦ then I would have to structure the business deals in such a manner so I can overcome this problem †¦ For example, the goodwill issue †¦ you are going to have a lot of problems †¦ one of which is the peculiarities of listing in the country  ± because in Australia, you can go up and get the cost of listing, say $250,000 and merchant bankers fees, that is it.In Malaysia, because of the restricted nature and a premium allowed for listing  ± there is a value  ± sometimes if it is a loss-making company, there is a bigger value  ± so, you actually have this value concern that is there †¦ is being created because of the supply and demand †¦ may be until such a time as the premium drop (i-no-3). A corporate director, also involved in the standard committee, made a similar observation: F F F maybe in a developed country like the UK and Australia and all that †¦ ot much goodwill paid anyway when you acquire a company because their markets are very matured, their businesses are very matured, so maybe their purchase price is very close to their NTAs, but in a country like Malaysia, where there is h igh growth and lots of growth prospects, very often the valuation is on the basis of price-earnings capabilities and on that basis, you find that a high portion of the purchase price is in goodwill, the NTA is actually very low but the value of it is in the licence.If you took over Genting (the only Casino in Malaysia), for example †¦ the value is in the licence to operate a casino †¦ that is the main crux of the issue and it makes a lot of difference to the companies here because when you acquire other companies and you pay very high goodwill, obviously, you as a businessman, when you acquire it and you pay cash for it, unless you think it is really worth, why would you want to pay for it †¦ why should your accountant come and tell you it is not of value and depreciate it †¦I have got to write off $4 million a year for what? It is not necessary but because of your (the accounting profession's) insistence and your discomfort with goodwill as a concept, you arbitr arily ask me to write off $4 million a year and because of that my results get impacted by $4 million write-off and the public doesn't know  ± they don't understand the issues involved  ± so they think we haven't done well. That is the crux of it (i-no-2). The FPLC memorandum further supported the above views.In Malaysia, licences for activities such as banking, stockbroking, gaming and broadcasting are controlled and regulated. For example, no new banking licences have been or will be issued. Other licences are issued in a very restricted manner. The resulting scarcity leads to significant premiums being attributed to companies that hold such licences, more so than in developed countries that do regulate such industries but do not freeze the issuance of new licences (FPLC, 1993, p. 11).Therefore, the proponents of this view advocated that an accounting standard for goodwill should not be implemented in isolation from consideration of intangibles such as licences, brands, franch ises and trademarks. A member of the standards committee, being the technical manager of a Big Accounting Six firm, expressed a similar view: standard setting F F F in our environment, considering the regulated context F F F a developing country F F F there could be a need to kind of modify the standard in that light (i-no-42). in Malaysia 377 So did a technical consultant with a Big Six firm:There is a special case F F F because there are more special equity arrangements in Malaysia, whoever buys or sells a company F F F where there has been enormous amount of corporatisation activities F F F in the Malaysian accounts than in any other country in the world F F F it appears to be a reflection of the fragmented capital structure of the companies F F F when share price gets high F F F they like to cash in and try something else F F F whereas in the US, once a company has bought something F F F they tend to sit on it for a very long time F F F so it is wiped F F F Unless we push for a goodwill standard when the economy is good as it is now (early 1995)[22] (i-no-43; similar comments were made by a corporate executive (i-no-9)). A practitioner from the Big Six very much involved in the MACPA Standards Committees observed that: F F F in Malaysia, we pay excessively for companies that we buy.There again, can we say we are paying excessively when those prices that are paid are justified, when these prices that are paid are justified on relative low P/E ratios and those prices are vetted and allowed by the Securities Commission (SC)? The SC is not going to allow excessive pricing. I don't know whether developed countries are different from developing countries in that sense †¦ A country that is developing must be permitted or given a chance to develop. I am sure in the early days, the huge goodwill that was paid to US or European companies were not written off or amortised. But there came a point in time, through inflation and all that, over the years  ± those huge goodwill came to nothing.There could very well come a point of time where the half billion goodwill paid by Malaysian companies, 30 years down the road, the half billion still left in the books  ± it is so insignificant  ± the directors will write it off in one year (i-no-6). What this illustrates is that MACPA-linked practitioners and market respondents were more attentive to the implications of MAS 6 for the corporate sector than the MIA committee composed of non-Big Six personnel. The market respondents expressed concern that the profession (meaning the MIA) could not be expected to consider the socio-political implications of a standard, focusing instead on technical or theoretical considerations. That MACPA would not feel bound by such considerations is hardly surprising as a majority of the publicly listed companies are audited by the Big Six[23].Analysis of respondents' attitudes to MAS 6 further highlights the hostility of the MACPA/Big Six camp to MAS 6, as seen in Tables IV and V. Views on MAS 6 For Against No comments Total MACPA 0 21 12 33 MIA 6 2 6 14 Non-accountants 2 1 15 18 Total 8 24 33 65 Note: â€Å"Non-accountants† includes all respondents who were neither members of the MACPA or MIA Table IV. Respondents' views on MAS 6, highlighting MACPA/MIA differences AAAJ 12,3 MAS 6 received no support at all from MACPA or the Big Six. A significant majority of MIA people supported the standard; the non-Big Six firms also supported it, but only marginally[24]. The views of non-accountants were also more evenly divided than those of the MACPA/Big Six camp. `Interests† and the politicisation of standard setting Previous sections have already implied that standard setting in Malaysia became politicised over the course of the goodwill saga. This development was widely appreciated by the participants themselves and is explored in more detail below. The key point is that by the 1990s, the corporate sector was being taken very seriously , even by influential players within the profession. For example, one respondent from the Big Six noted: F F F basically, you have to know what the world is like in real terms †¦ whether businesses will adopt it freely, happily or not. Something which is good during a rising market will not necessarily be good during a falling market.So, this idea of accountants that anything you adopt should be consistent is an easy concept for certain things and to be realistic the consistency should be under certain circumstances of the market. Otherwise, you can make a rule over action, other people are not happy to abide by it, so people find arguments not to do it (i-no-34). 378 There was unanimous agreement among Big Six standard setters that business's wholehearted acceptance was crucial. Furthermore, the state was expected to acknowledge, or at least be aware of, this very point. A practitioner from a medium-sized firm said: Certainly, it is not racial politics  ± it is more governme nt in being democratically elected †¦ ust listen to people who have vested interest to protect and the government thinks their interest is more important than accountants  ± the accountants have no interest except they have a formalised way of doing things and since they have formalised a way of doing things, there is commonality in dealing with particular issues. Accountants do not gain or lose by implementing the standard  ± accountants can say because we have this standard, we know the financial statement would have some common feature F F F Otherwise you see goodwill going up and up all the time (i-no-8). The political nature of the standard setting process is evidenced by the lobbying activities carried out after MAS 6 was adopted by the MIA.Respondents felt that the state was more attentive to the big business lobby Views on MAS 6 For Against No comments Total Big Six 0 15 4 19 Non-Big Six 3 2 7 12 Others 5 7 22 34 Total 8 24 33 65 Table V. Respondents' views on MAS 6 , highlighting Big Six/Non-Big Six differences Note: â€Å"Others† includes MACPA/MIA members who had moved out of public practice. The MACPA respondents who had no comments had not been involved in the goodwill accounting discussions than to accounting principles. One saw the state's stand as â€Å"protecting the Accounting interest of certain parties against others† (i-no-58). standard setting Arguing interests As indicated above, the goodwill controversy underlined the segmentation of the Malaysian accountancy profession over time, under pressure from st

No Life Without Education Essay

â€Å"Born in San Francisco in 1876 Jack London grew up in a world witnessing the settlement of the last frontier. It was a world in transition. The memory of Jack London’s early life was etched and scarred by the bitterness of poverty. His family was continually on the move to find subsistence. At the age of ten the boy was on the street selling newspapers to supplement the family’s meager income. For fourteen years thereafter — until his first writing success at twenty-four. He became a â€Å"work beast† laboring in a cannery, a jute mill, a laundry, and shoveling coal in a power station. He worked for ten cents an hour, thirteen to fourteen hours a day, six and seven days a week. Is it any wonder that he saw life in terms of man’s unending struggle against a ruthless nature? Is it any wonder that he saw in socialism a chance for the salvation of others as lost as he had once been? Is it any wonder that he hungered for knowledge and success that would lift him above the degrading plain of poverty? Look, then, to the formative years for a clue to the life and works of Jack London. There you will see the birth of that indomitable spirit which could eventually lead him only to a philosophy of individualism. In his heart and sympathies Jack London was a socialist; he could not forget the sufferings of his past. But in his mind and actions he struggled — he was an individualist — he could not forget his achievements. Throughout his life he struggled valiantly to reconcile these conflicting philosophies. While he did not live long enough to begin the autobiography his notes indicate he planned to write, we are fortunate that so much of his writing is autobiographical in nature. Oyster pirate, deep-sea sailor, hobo, Alaskan prospector, all these incidents in his life make fascinating reading. But most important of all Jack London’s adventures was his struggle to become a writer. Without guidance, writing under almost impossible circumstances, for the most part educating himself, and faced with continual economic hardship, he stumbled and groped for three long years in the literary wilderness. In the beginning the rejection slips followed one another with monotonous regularity. Had he been a weaker man he might have succumbed. Certainly the odds were against him. But at the end of his three-year travail success was his. He had conquered his Everest; the world was at his feet! † He became the highest paid, most popular novelist and short story writer of his day. He wrote passionately and prolifically about the great questions of life and death, the struggle to survive with dignity and integrity, and he wove these elemental ideas into stories of high adventure based on his own first hand experiences at sea, or in Alaska, or in the fields and factories of California. As a result, his writing appealed not to the few, but to millions of people all around the world. Along with his books and stories, however, London was widely known for his personal exploits. He was a celebrity, a colorful and controversial personality who was often in the news. Generally fun-loving and playful, he could also be combative, and was quick to side with the underdog against injustice or oppression of any kind. He was a fiery and eloquent public speaker, and much sought after as a lecturer on socialism and other economic and political topics. Despite his avowed socialism, most people considered him a living symbol of rugged individualism, a man whose fabulous success was due not to special favor of any kind, but to a combination of unusual mental ability and immense vitality. Strikingly handsome, full of laughter, restless and courageous to a fault, always eager for adventure on land or sea, he was one of the most attractive and romantic figures of his time. He described his literary success largely to hard work – to â€Å"dig,† as he put it. He tried never to miss his early morning 1,000-word writing stint, and between 1900 and 1916 he completed over fifty books, including both fiction and non-fiction, hundreds of short stories, and numerous articles on a wide range of topics. Several of the books and many of the short stories are classics of their kind, well thought of in critical terms and still popular around the world. Today, almost countless editions of his writings are available and some of them have been translated into as many as seventy different languages. Somehow, he managed to do all these things and still find time to go swimming, horseback riding, or sailing on San Francisco Bay. He also spent 27 months cruising the South Pacific in the Snark, put in two tours of duty as an overseas war correspondent, traveled widely for pleasure, entertained a continual stream of guests whenever he was at home in Glen Ellen, and did his fair share of barroom socializing and debating. In order to fit all this living into the narrow confines of one lifetime, he often tried to make do with no more than four or five hours of sleep at night. By the age of 29 he was already internationally famous for The Call of the Wild (1903), The Sea-Wolf (1904), and other literary and journalistic accomplishments. He was divorced from Bessie, his first wife and the mother of his two daughters, Joan and Little Bess, and he had married Charmian (Kittredge). Summary Buck, a physically impressive dog, is living the good life in California when he gets stolen and put into dog slavery. For him, this means pulling a ridiculously heavy sled through miles and miles of frozen ice with little or nothing to eat and frequent beatings. As the definition of a domestic dog, Buck is out of his element until he begins to adapt to his surroundings, and learn from the other dogs. Buck also starts having strange dreams about the primitive days of dogs and men, before the advent of cities or houses or culture. There are no rules or morality here (interesting, since Buck’s first owner was a judge), save for what is called â€Å"the law of club and fang,† a kill-or-be-killed, ruthless way of thinking. Buck becomes involved in a struggle for power with another dog, Spitz. They end up fighting and Buck wins, taking over as leader of the sled dog team. The team changes human management (new drivers) and the new people don’t seem to be very competent. They’re bad drivers and end up killing everyone, including themselves. Fortunately, Buck is saved by a kind man named John Thornton, moments before the group death in an icy river. Buck becomes attached to Thornton and even saves his life several times. Buck sets off on a journey with his new master and several other men, loving his new life, except for the need to run off and kill things in the woods every once in a while. Buck fights with temptation: stay with Thornton, or kill things? Be civilized, or be wild? And naturally there are several missed phone calls from The Wild and a lot of angry messages (â€Å"Where are you already?†). At the end of Call of the Wild, Thornton is killed by the Yeehat tribe, on which Buck later extracts vengeance. Buck is then free to run with the wild dog packs, but only on the condition that he is leader. Character sketch Thornton Character Analysis Thornton is one of the main human characters in the book. He is important in the life of Buck, but we don’t know much about him. In one sense, Thornton’s role in the story is to help us learn more about Buck – Thornton’s there so we can understand this mysterious call of the wild and why Buck feels torn about whether to stay with humans or go into the wild. Thornton is both the greatest thing that’s ever happened to Buck and the one thing holding back from his true destiny as a wild dog pack leader. One the one hand, Buck is devoted to Thornton in a way that he is not devoted to anyone or anything else – recall how Buck was willing to jump off a cliff for Thornton. On the other hand, Thornton’s presence is preventing Buck from going off into the wild and answering â€Å"the call† that he hears so often. How do you view Thornton’s role in The Call of the Wild? Does he bring out the best in Buck, or does he prevent Buck from realizing his dream? Or is it both? Francois Character Analysis OK, if you’re having a hard time keeping Francois and Perrault straight, Francois is the Robin character in this Batman and Robin-like team. He doesn’t have Perrault’s brains, and defers to his buddy’s decisions. But Francois is a nice guy, as we see when he uses his own shoes to make moccasins for Buck. In short, we’re partial to the guy, and we feel sorry when Buck parts ways with the two men. Buck’s commentary on how the people in his life are always transient becomes all the more sad for us, because we’ve already gotten to like Francois and Perrault.

Innovation Management Essay Example | Topics and Well Written Essays - 1750 words

Innovation Management - Essay Example Emphasising this particular concern, the aim of this paper is to explore the strategies adopted by Apple, to counter the competitive influences caused by the innovative strategies taken by Samsung and Google as the major competitors in the industry. Accordingly, due significance will be delivered to the various types of innovative strategies, such as offensive, defensive, imitative, dependent and traditional & opportunist tactics as used or can be used by Apple to overcome the competition challenges. Conclusively, the discussion of the paper will be intended towards developing a 5 years strategic planning, reflecting upon the presently applied strategies, future possible strategies and imbibing new technologies in its currently ongoing practices. Setbacks of Apple in Comparison to the Innovative Strategies Adopted by Samsung and Google Samsung and Goggle are two of the leading brands in the information technology market currently. These organisations can be observed to have taken con siderable plunge towards the application of innovative strategies in order to gain a leadership positioning in the industry context and beat Apple as a competitor in the same. They have not only flooded the market with new innovative and attractive products, but have also been highly focused on understanding customer demand and responding to their changing buying behaviour with efficiency (AFP, 2013). As a consequence, Google was able to obtain a considerable influence on the competitive forces in the oligopolistic market structure of the industry. Similarly, Samsung also believes in rapid innovation concerning the pace of technology advancement in the current phenomenon where the lifecycle of the products are much shortened owing to the imitative strategies practiced by the competitive brands. Samsung appeals to a larger market by providing the customers with a variety of Information Technology (IT) gadgets such as smartphones, tablets, and breathalysers. Assessing the past perform ance of the company, it can be affirmed that Samsung has been doing well in the low-end market and has recently began to expand its presence in the high-end market, giving a tough competition to the already existing brands including Google and Apple. Illustrative, its market share increased to 36% in Q2 of 2011 from about 18% in the same quarter of 2010. While Google has been able to obtain market success based on its product versatility, even though its serves with a limited number of products as compared to Apple and Samsung, Samsung’s success has been mostly driven by its innovative strategies to keep expanding its product line, improving on the basis of differentiation prospects. Replicating the oligopolistic structure of the industry, Samsung also attempts to work in collaboration with other IT companies, including Google to practice innovative strategies and gain competitiveness in the market. For instance, Samsung is renowned as the largest adopter of Google Android so ftware and also a leading supply chain partner of Microsoft Incorporation whereby its major proportion of

The Structure and Business of Blackstone Essay Example | Topics and Well Written Essays - 4000 words

The Structure and Business of Blackstone - Essay Example It's a veritable feast for the discerning investor's eyes: 37% compound annual revenue growth, 65% operating margins, $3 million in profit per employee, returns on invested capital in the triple digits. And a cherry on top: the Blackstone Group is arguably the uber-buyout firm. Led by billionaire cofounders Steven Schwarzman and Peter Peterson, Blackstone has gone from relative obscurity to global renown in the span of roughly two decades, parlaying a penchant for deal making and a yen for competition into a war chest that now brims with billions of dollars in investment capital. Blackstone Capital has extensive expertise in structuring transactions under Regulation D, SCOR, Rule 144A, Reg. A, Reg. S, and other public or private direct offerings, as well as commercial lending, mezzanine financing, commercial paper, and subordinated debt transactions. Their structures provide an exit strategy for investors with short or long-term holding periods. Basically what Blackstone does is delivers to its client’s necessary capital, for less cost, more efficiently, and strategically structured. It operates from a style, which avails itself of the richness of a variety of investment philosophies and techniques that will ultimately provide superior returns while exposing a particular partnership to lesser risk. It is here, that Blackstone prides itself in creating the innovative financial solutions for its clients. Their primary objective is to maximize value for their clients. Blackstone’s business is organized into four segments: 1) corporate private equity, which focuses on management of the Company’s private equity funds; 2) real estate, which is responsible for management of Blackstone’s various real estate investment funds; 3) â€Å"marketable alternative asset management,† which involves management of Blackstone’s various hedge funds, mezzanine funds, and other â€Å"alternative† in vestment vehicles; and 4) The financial advisory group, which comprises the Company’s advisory services business that provides, for example, merger and acquisition analysis and services to other companies. These various funds are generally structured as limited partnerships that are capitalised by limited-partner investors (such as institutional investors and pension funds) and managed by Blackstone, which, through subsidiary holding partnerships, serves as general partner. Blackstone therefore does not own directly either the various portfolio companies in which it’s corporate private equity funds invest or the real estate assets owned by its real estate funds. Rather, Blackstone derives revenue from two principal sources: It earns a â€Å"management fee† equal to 1.5% of the value of the assets under management; It earns a â€Å"performance fee† or â€Å"carried interest† equal to 20% of the profits generated on the capital it invests for limited partners. Blackstone is subject, however, to having its performance fees â€Å"clawed back.† That is, the Company is obligated to return performance fees to investors if investments perform poorly. In contrast to those who invest in Blackstone’s various funds, investors in Blackstone itself acquire a stake in Blackstone’s investment management business, hoping that strong performance by the various investment funds will generate performance fees for the Company. 4.2 Southern Cross Healthcare Southern Cross He

Online learning vs. traditional in class learning Essay

Online learning vs. traditional in class learning - Essay Example tudents the needed skills and knowledge for a good career or better future, the methods are different in such a way that they adopt different teaching styles. With online learning, you don’t have a physical classroom. Your classroom is in cyberspace, in forums and in chats. Your classroom is the website and your account where you can download all the lessons and the exams that your teacher gives you. Sometimes, you don’t even know what your teacher looks like. Although yearly, there are upgrades in online learning as the technology improves website interaction, through web-based videos and streaming, there are also improvements on the methods used by the online educators (Rudestam). When compared with the traditional classroom learning, having a classroom in cyberspace looks more appealing, especially when the student does not need to spend a dime travelling from his home to his school. With a click of a button, you are transferred from one classroom to another unlike in the traditional classroom setting where you would need to walk from classroom to classroom or even building to building, which can be a reason for tardiness . In online learning, there is no excuse to be late in class. Online learning has a more personalized approach compared to the traditional classroom learning (Rudestam; Joyes). Although both learning methods group students together within a class, online learning has the tendency to be more personalized. Online educators would have the opportunity to do one on one session with their students more than a traditional professor would have. Because of the many tasks and the number of students they are handling, traditional classroom educators have the tendency to teach in route, or based on the yearly lesson plan they have to the entire class. Although online learning also has the same tendency when the lessons are not customized but are given with predetermined mode and route (Pan & Hawryszkiewzyc). Since online educators have the capability

Video Analysis 3 Socio cultural Theory Essay Example | Topics and Well Written Essays - 500 words

Video Analysis 3 Socio cultural Theory - Essay Example They gain increased responsibility and become fully participative in the activities under consideration. It is worth pointing that when learners are engaged in playful environments, their cognitive abilities are enhanced. This enables them to perform challenging tasks with assistance (Mitchell and Myles, 2004, p. 262). The video outlines the reasons behind fostering interaction in the classroom. Interaction accommodates learning differences and styles from different students while providing students with an excellent environment for getting involved in different cognitive abilities. Further, interaction motivates students to learn through improving on task engagement while enabling students to get involved in engaging activities. The video uses two examples to elaborate on the aforementioned reasons of fostering student interaction. According to Foster and Ohta (2005), assistance enables a learner to do something that he/she would not have otherwise done (p. 414). This is exemplified in the video, where students are seen assisting one another in the various tasks. For instance, in the second example in the video, we see the students assisting each other to write a correct sentence. The teacher finally assists them to develop correct sentences. Interaction is another crucial aspect, which is exemplified in the video. Establishment and management of an interactive environment is essential in facilitating learning (Zuengler and Miller, 2006). In the video, students are seen interacting with others and with their teacher in completing the tasks given. Further, playing and attempting challenging tasks (in assistance) help students to enhance their cognitive abilities. In the video, specifically in the first example, students are seen engaging in a competitive situation. This is tantamount to playing, which enables students to think fast (whether the sentence given is true or false). In the second example in the video,

The member of the wedding Essay Example | Topics and Well Written Essays - 1750 words

The member of the wedding - Essay Example Jasmine and proceeds to try grown up things, like going to a bar and drinking, making a date with a much older military man, and dresses nicely with perfume. It is noticeable that both of these personas – Frankie and F. Jasmine – have the same obsession, which is to leave the town. In the end, Frankie seems to settle into her own identity of who she is in that moment, which is neither a boy, a woman, nor an adult, but is, in fact, an adolescent girl and it is only then that Frankie stops obsessing about leaving the town and settles into the normal life of schoolwork and hanging out with a best friend. Frankie Addams, while ostensibly a tomboy is also confused, as she is perched on the boundaries of childhood and adulthood, as well as straddling the lines between masculinity and femininity, while being subjected to sexuality that is presumably beyond her tender years. The masculine/feminine dichotomy is shown by the fact that Frankie has a boy’s name, and is, by all accounts, a tomboy, yet also puts on Sweet Serenade perfume (White, 1985, p. 89). In one scene, Frankie is cussing like a man, and threatening to shoot every person who said that she â€Å"smelled bad† with a pistol, then John Henry repeats that Frankie smelled like â€Å"a hundred flowers† because of her perfume (McCullers, 1946, pp. 610-611). The feminine side is further shown when Frankie dreams about changing her name to F. Jasmine Addams (McCullers, 1946, p. 616), although this name is still a blend of the masculine and feminine. The Jasmine part is definitively feminine. Yet calling herself à ¢â‚¬Å"F. Jasmine Addams† denotes a certain sound of masculinity. According to Groba (1994), in quoting Simon de Beauvoir, this is to be expected when young girls who rebel against society and refuses to accept the roles that others have thrust upon her, yet does not have the courage to completely repudiate the roles. This leads the young girl to either take flight from reality, as

Economics of Industry Essay Example | Topics and Well Written Essays - 1500 words

Economics of Industry - Essay Example buy problem. Therefore, firms and companies can anatomize their Human Resource Management system in order to develop the necessary skills in-house or they can constitute their Human Resource Management to attract the workmen with the obligatory skills on the extrinsic market. For developing consistent as well as competitive manufacturing strategies, the need is somewhat established. This fundamental subject in the development of a manufacturing strategy is the grit of what the company makes and what it buys (Platts et. al, 2000). Chronologically, such decisions have always been made primarily on the grounds of cost, however, in recent years there has been a successive cognizance on the strategic implications of these decisions and the requirement of pondering over a wide range of other factors as well. This paper determines and analyzes the problems related to agency relationships, asymmetric information, and undesirable assortment which are faced by firms who face such decisions. Moreover, it critically evaluates the possible remedies which can address the three problems discussed, which are associated with agency costs. The analysis of effects of the private agents being less than fully rational in their expectations can lead to depletion of the values and position of the firm. In the context of monetary policy, where the Central Bank may possess come uncertain preferences, the innovative characteristic could be the allowance of public to react in two different ways. One of them could be the formation of rational expectations, and another could be the internalization of uncertainty about the Bank's reference in complete. The cost of internalization appears to be the most appropriate guess regarding those preferences. In the progression of framing anticipations or expectations, the assumption of rational expectations enables all the agents involved in sharing the information from the same set. Nonetheless, with the breaking down of the assumption of common information, may be due to infeasibility, or because of the high-cost of acquirement of all the information others have, the agents have to resort to second-guessing the reactions of their counterparts. Agents can seem to be wide off the mark while making educated guesses about the characteristics of others and the consequences to the ideal case of full information and rational expectations could be hazardous. From the point of view of the private sector, a monetary policy can be applied where, for example, the Central Bank has tentative preferences. This could be a matter of choice, since, the bank itself does not unleash certain aspects of what it is cognizant of, or because the Central Bank does not possess firm information itself and, as a result, is unable to commit to one specific set of parameters for all the circumstances (Demertzis & Hallet, 2008). Authors like Geraats and Walsh have analyzed the first case

Barack Obama and US Foreign Policy Assignment Example | Topics and Well Written Essays - 2000 words

Barack Obama and US Foreign Policy - Assignment Example The present paper has identified that the United States foreign policy has deep significance for the lives of Americans and others worldwide in so many ways. Americans may not be aware of the substantial effects that the United States foreign policy has on their daily lives because it is so indirect. The American standard of living, for example, is deeply affected by the state of the economy, and the role of America in the global economy. This is in turn impacted by foreign economic policies which involve investment in companies and capital, trade in goods and services, access to raw materials and energy, and monetary policies and currencies fluctuations. Today, the American economy is more elemental to and dependent upon the international political economy. Besides security, economics, freedom, individual health and individual livelihood, there are other considerable areas of foreign policy that impact Americans. Examples are immigration and population dynamics, tourism, travel, the spread of HIV/AIDS, drug trade, deforestation, global warming, and environmental protection. The United States foreign policy is therefore involved in countless activities and affairs that have immediate and direct, as well as indirect and underlying implications on daily and future lives of Americans. During his victory speech on the evening of November 4, 2008, President-Elect Barack Obama used the moment to remind the world the image of the United States will undergo a dramatic transformation under his administration.†The foreign policy approach that has emerged during Obama’s tenure as president aligns closely with the liberal internationalist concept to foreign policy. A liberal internationalist approach is based on several core beliefs and values, about the interests and aims of foreign policy actions, for different nations and for the United States in specific. Essential domestic values, such as the development of individual freedoms and democracies are perceive d as significant ways to build a balanced, and amicable international order. Liberal internationalism also â€Å"calls for promoting international cooperation and interdependence in a variety of ways as a means to knit states and people today in a web of interdependence to address common problems and reduce the risk of conflict.† President Barrack Obama’s administration has not only had to handle the war on terrorism and the effects of Iraq war, but it also took office at a time when the International and American political economy was rocking at the threshold of breakdown. The first priority of President Barack Obama’s administration was to prevent the economic situation of America from deteriorating further and possibly collapsing into a greater depression. This was done in part by attempting to rebuild the confidence of foreign markets which had been lost during the 2008 economic crisis.  

University Education Is Necessary Essay Example for Free

University Education Is Necessary Essay According to Casse and Banahan (2007), the different approaches to training and development need to be explored. It has come to their attention by their own preferred model and through experience with large Organisations. The current traditional training continuously facing the challenges in the selection of the employees, in maintaining the uncertainty related to the purpose and in introducing new tactics for the environment of work and by recognizing this, they advising on all the problems, which reiterates the requirement for flexible approach. Usually the anagers have the choice to select the best training and development programme for their staff but they always have to bear in mind that to increase their chances of achieve the target they must follow the five points highlighted by Miller and Desmarais (2007). According to Davenport (2006), mentioned in his recent studies that its easy to implement strategy with the internet supported software. Some of the Training theories can be effective immediately on the future of the skill and developments. The content and the access are the actual factors for the process. It is a representation itself by the Access on main aspect what is effective to the adopted practice in training development. As per the recent theories to access the knowledge is changing from substantial in the traditional to deliver the knowledge for the virtual forms to use the new meaning of information with electronic learning use. Every organization needs to have well trained and experienced people to perform the activities that have to be done. If the current or potential Job occupant can meet this requirements, training is not imparting. But when this is not the case, it is necessary to raise the skill levels and increase the versatility and adaptability of employees. Inadequate Job performance or a decline in productivity or changes resulting out of job redesigning or a technological break through require some type of training and development efforts. As the Jobs become more complex, the importance of employee development also increases. In a rapidly changing society, employee training and development or not only an activity that is desirable but also an activity that an rganization must commit resources or to if it is to maintain a viable and knowledgeable workforce. Training, education, and development are three terms frequently used. On the face of it, there might not appear any difference between them, but when a deep thought is given, there appear some differences between them. In all training there is some education and in all education there is some training and the two process cannot be separated from development. Edwin flippo Training is the act of increasing the knowledge and skill of an employee for doing a particular Job.

Domestic Windmill using Bevel Gear Mechanism

Domestic Windmill using Bevel Gear Mechanism Introduction: CE1.1: In this career episode, I will be focusing on one of the projects which I have carried out while pursuing my undergraduate degree in Mechanical Engineering. This project helped me in understanding the working mechanism of bevel gears and how renewable resources can be used to produce electricity. Background: CE 1.2: Wind energy has been used for various purposes over the years. The concept of windmill was established in the 10th century and has been improving ever since. The main principle working of windmill is conversion of wind energy to rotational energy by means of vanes called blades, which is then converted into mechanical energy with the help of bevel gears. CE 1.3: The main aim of the project was to produce four times the power than the actual windmill (i.e. 4:1). It is based on the principle of the power generation in the actual wind mill. Another aspect of the project was also using the mechanisms of bevel gears, bearings, shaft, and pulley to generate power from the actual wind mill. CE 1.4: The organisational structure of the project is as follows: CE 1.5: The following activities were essential to successful competition of the project: Being on par with the timeframe given by the professor. I had to read books related to bevel gears and windmill to understand the working procedure. Have discussions with project supervisor and team member on how to carry out the work. Discuss with lab technicians how to connect the bevel gears with the shafts. I proposed the design of the windmill and carried out the necessary calculations required. The project documentation was completed along with my team member which presented my finding and the results to the project supervisor and the faculty. Personal Engineering Activity: CE 1.6 Working on a project is the most interesting part where learning is very essential and crucial in successful completion of the project. I first approached my project supervisor along with my team member to discuss about the different ideas. After careful examination, myself and my team member decided to work on something which helps in reducing the pollution and working with renewable resources. Which lead to working on power generation of windmill with help of bevel gears. CE 1.7 The initial step of the project was to design the model of the windmill and how to establish the connection between the shafts, gears, motor, and batteries. The design of the model was carried out using AutoCAD software. I learned the basics from Design of Machine Members subject and with the help of lab assistant understood the tools essential for creating the model. Once our project guide approved of the design of windmill, the assembly of parts was needed to obtain the working model of the proposed windmill. CE 1.8 Once the parts were obtained for the completion of windmill, my team member and I had experienced difficulty in establishing a proper connection, but with the help of project guide and lab technicians myself and my team member were able to get the gears and the shafts working. The windmill consisted of three vanes which were connected to a primary shaft and fan hub. This setup was then connected the gear and ball bearing on both its end. I then suggested that each shaft be fixed to its respective dynamo using gripper belts. The gripper belt connected between the shafts and dynamo pulleys makes dynamo produce the electrical energy. The power generated is stored in battery and used for domestic purposes. Below is the list of objects along with the specifications which were part of the project. S.No. DESCRIPTION PINION GEAR 1 Material C 45 Steel C 45 Steel 2 Cone Distance 18 mm 18 mm 3 Module 1 mm 1 mm 4 No. of Teeth 10 18 5 Face Width 6 mm 6 mm 6 Semi Cone Angle 29.05o 60.94o 7 Addendum 1 mm 1 mm 8 Dedendum 1.1236 1.1236 9 Pitch Circle Diameter 10 mm 28 mm 10 Tip Circle Diameter 11.74 mm 18.97 mm 11 Tip Angle 32.22o 64.11o 12 Root Angle 25.256o 57.126o 13 Addendum Angle 3.17o 3.17o 14 Dedendum Angle 3.814o 3.814o Table 1: Specifications CE 1.9: Once the model was ready, I carried out few structural analysis using ANSYS software which our project guide thought us. ANSYS was carried out to study the stress, strain, and heat dissipation due to constant rotation of the bevel gears. I found that total deformation was the maximum on the outer edge of the gears and minimum on the inner edge as major forces acted on the outer edge due to the shape of the bevel gears whenever they came into contact. Once the stress analysis was carried. Myself and my team member carried out the power generated by the windmill using the basic power equation. Ï =   Density of air 1.28 kg / m3 A=   Area of the Wind V2=   Velocity of Air CE 1.10 Project Photos: CE 1.11 The following are the conclusions I could draw: The project myself and my team member carries out made an impressing task in the field of using renewable source of domestic windmill and to produce the sufficient energy for the domestic purpose. The project also reduced the cost involved in developing a windmill. It also met the requirements set up by our project guide at the beginning of the project. The project does not produce any harmful greenhouse gases which pollute the atmosphere. Summary CE 1.12 Myself and my team member successfully completed the project on the power generation of Windmill using Bevel gears to generate four times the power. This project helped me in understanding the working of bevel gears and how they are connected to shafts. Also, how to use renewable resources to generate electricity. CE 1.13 This project helped me to improve my skills in writing as part of the project a detailed report was to be submitted explaining our findings. I have also learned two new softwares ANSYS and AutoCAD which come in handy in the future. With constant support and review from our project guide myself and my team member were able to improve communication skills and successfully completed the required project.

Trapped Characters in John Steinbecks Of Mice and Men :: Steinbeck Of Mice and Men Essays

In the novel Of Mice and Men, John Steinbeck uses stereotypes and discrimination to convey a message of how the characters feel.   A lot of the stereotypes and clichà ©s are just common beliefs of the times, but a few are situational. To quote a quite distinguished reader, "Characters are ‘trapped’- either by what others think of them, or by their situation." A lot of the character’s feelings about themselves and what others think of them will lead to loneliness. Crooks is a character who is mistreated   in many ways because he is black. Crooks is the stable buck of the barn.   It’s not certain whether Crooks is his name, or his nickname, but we know he got kicked in the back by a horse and had a crooked back ever since.   Nevertheless he gets yelled at by the boss every time something’s wrong. " ‘The boss gives him hell when he’s mad.   But the stable buck don’t give a damn about that,’ " says Candy, p.32.   Crooks also isn’t allowed in the bunk houses because people say   he stinks. Crooks talks with Lennie in the book, "Crooks laughed again. ‘A guy can talk to you an’ be sure you won’t go blabbin’." p.78. This most likely makes Crooks feel not wanted at all, Which roots to loneliness.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Lennie is not so much stereotyped, but rather trapped because of his size.   Because Lennie is so big, Curley thinks he has to prove something by beating up Lennie.   Lennie gets on Curley’s bad side when he didn’t do anything wrong.   Lennie is then forced to fight.   " ‘I don’t want no trouble,’ he said plaintively. ‘Don’t let him sock me, George.’ " p.32.   This is not an everyday discrimination like racism.   It’s one of those circumstantial incidents that was described in quote in the introduction.   This is an excellent example of how John Steinbeck uses extraordinary circumstances to create appeal and realism to the reader.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Curley’s wife is probably the most loathed on the ranch.   Because of   the way she looks and acts, people think she is easy, or a   "tart".   " ‘Jesus, what a tramp,’ he said. ‘So that’s what Curley picks for a wife.’ " said George, p.35.   She just wants someone to talk to.