Cleopatra Essay Research Paper CleopatraCleopatra was queen free essay sample

Cleopatra Essay, Research Paper Cleopatra Cleopatra was sovereign of Egypt, last swayer of the line established by Ptolemy, a Macedonian general of Alexander the Great, who accepting Egypt as his segment in spliting Alexander? s imperium. Her capital, Alexander, established by Alexander the Great, was the focal point of Hellenistic Greek human progress of the universe at that cut, each piece great as an extraordinary business focus. Despite the fact that she envisioned as a? wonderful and glamourous grown-up female today, she was non actually delightfully portrayed on antediluvian coins, holding a long snare nose, and manly attributes? ( Flamarion 181 ) . She considered to be a solid disapproved Macedonian sovereign who was wonderful and longed for a more prominent universe imperium. Exceptionally wise, this keen legislator about accomplished this end. Her parts as the last of the Ptolemaic Greek swayers of autonomous Egypt, were the endless expansion of the Roman Empire all through the Mediterranean, and at her perish left behind? a rich, majestic state which kept on blasting as the focal point of corporate greed, logical order, and larning under Roman guideline? ( Newman 554 ) . This common conceived pioneer was the most established life young lady of Ptolemy XII Auletes and of his sister and wedded lady Cleopatra Tryphaena. Such sibling sister marriages were normal among individuals of the Egyptian conclusion house. Her male parent, who kicked the bucket in 51 BC, mentioned the Cleopatra and his most seasoned kid, Ptolemy XIII, go joint swayers, and made Rome the protector of the Egyptian region. The purpose of this paper is to epitomize the life of a remarkable Egyptian figure, who through her finding and solid will, set up herself as a Pharaoh and sovereign of Egypt. Issues emerged when the juvenile Ptolemy started to work as a doll for eager for power counselors, who much have discovered him unquestionably increasingly simple to order and direct than Cleopatra who was more seasoned and progressively smart. Cleopatra and her sibling began a common war between themselves, which brought about her being constrained into ostracize to Syria. In Syria, she raised a ground powers and began back to Egypt to recoup her seat. In 48 BC, this yearning sovereign was in Pelusium, on the eastern outskirts of Egypt, with her newly gained ground powers fixing to attack her sibling and his partners. This contention was neer battled, by and by, on the grounds that Julius Caesar, who had shown up at Alexandria in pursue of Pompey, ? guaranteed the option to mediate the fight? as the agent of Rome ( Hoobler 28 ) . Both Ptolemy and Cleopatra were to ignore their ground forcess and meet with Caesar, who might settle their distinction. In the interim, there was other than a common war going on among Caesar and Pompey. Pothinus, cognizing that Caesar would win, persuaded Ptolemy XIII that it would be best to hold Pompey guillotined and hold his caput introduced to Caesar, as a way to persuade him to fall in their side in the their common distinction. Caesar had non been ? captivated, and being companions with Pompey, did non need to hold him rewarded so rudely? ( Foreman 61 ) . Resolved to give her example, Cleopatra cruised to Alexandria in a little vessel with just a couple of aides. There she had herself moved up in to a floor covering and conveyed to Caesar? s stronghold by one of her attenders who told the monitors it was a present for Caesar. She did this since it would hold been difficult to determine course to the palace without Ptolemy XIII finding and executing her. Cleopatra understood that so as to infer power she would hold to remain on great footings with Rome and its pioneers so she effectively set out to catch him. Both Caesar and Cleopatra utilized each other to determine something, since he needed to acquire cash, and her central concern was determining power. What had started as a war among Cleopatra and Ptolemy XIII developed into a war between Ptolemy XIII aligned with Arsine, his sister, against Caesar, and became known as the Alexandrian War. Caesar read Aulete? s will to Ptolemy and constrain him to recreate her to the seat. At the point when Ptolemy XIII suffocated in the Nile, Caesar pronounced that? Cleopatra ought to get hitched her more youthful sibling, so eleven mature ages old, furthermore, guideline as sovereign? ( Newman 556 ) so as to enchant the Alexanderians and the Egyptian ministers. He stayed in Egypt, dismissing his own businesss in Rome and in the East, ? out of haughtiness and his craving to secure his authorities on Egypt? s tremendous assets? ( Foreman 99 ) . On his arrival to Rome, Caesar solicits the tribune from the individuals, Helvius Cinna, to introduce into the Roman Senate a statute permitting Caesar to get hitched Cleopatra and do their kid, Caesarion, his inheritor. Many were troubled that he was be aftering to get hitched Cleopatra paying little mind to the Torahs against polygamy and marriage to outsiders. It took Caesar two mature ages to improve of Pompeian opposition, and each piece in no time as he came back to Rome, they commended a four-day triumph, or a stately procession held to respect winning commanders. This savvy grown-up female showed up in Rome with Ptolemy XIII and Caesarion, and they lived in Caesar? s Villa, where he visited her constantly. Cleopatra had begun naming herself the New Isis and was the subject of much chatter. An aureate sculpture of her had been placed in the Temple of Venus Genetrix, the anchantress of the Julian family unit to which Caesar had a place. On the Ides of March in 44B.C. , Caesar was killed outside the Senate structure in Rome, ? due to the hazard that he presented to the prosperity of the popular government, since they accepted that he was going to pronounce himself lord? ( Foreman 83 ) . Soon after Caesar was cut, Cleopatra left Rome, and one twelvemonth in this manner Ptolemy XIII kicked the bucket, only before he would hold arrived at the legitimate age at which he could be relied upon to participate in the specialists, what's more, some state she may hold harmed him. On Ptolemy? s expire, Cleopatra had her kid, Caesarion, or? Little Caesar, ? distraught e co-ruler at four years old. Caesar? s blackwash caused disorder and common war in Rome. At last the imperium was partitioned among three work powers: Caesar? s grandnephew, Octavian, Marcus Lepidus, and Marc Antony. Antony, as one of the new swayers of the Eastern imperium, gathered Cleopatra to Tarsus to answer charges that she had helped republican powers. Antony was popular of cash to set up a run against the Parthians, what's more, trusted Cleopatra would give him the financess he direly required. She set out for Tarsus in Asia Minor with tonss of blessings, and entered the city on an incredibly embellished pontoon. She cruised with Ag paddles, purple solicit, and dressed as Aphrodite, the Goddess of Love. She effectively new bounty about his? restricted vital and strategic capacities, his somewhat blue blood, the soaking up, his womanizing, his coarseness and his desire, ? ( MacUrdy 79 ) to cognize how to procure to him. After much banqueting and engaging for yearss, Egypt stayed an autonomous state on the other hand of going a Roman state, as Antony planned. This extremely tempting grown-up female consented to gracefully him with cash on the status that her sister, Arsinoe IV, be executed. Forgeting his obligations and duty to the Roman imperium, he went with this attractive single to Alexandria and went through the winter with her there. In the spring of 40 BC, Imprint Antony left Cleopatra and returned place, subsequent to giving her much land, counting Cyprus, the Cilcian coastline, Phoenicia, Coele-Syria, Judea, and Arabia, which was extremely key to Egypt. After the arrangement of the Second Triumvirate between Antony, Octavian, and Lepidus, Antony wedded Octavia, Octavian? s sister, in 40 BC to seal an exchange with Octavian. It expressed that? after the Triumvirate finished the two would both oversee the Roman universe, however they permitted Lepidus to remain in northern Africa and direct the nation? ( Foreman 95 ) . Octavian held all of western Europe and Antony held the eastern terminal of the Roman universe. After sorting out this arrangement, he so went Es to run into with Cleopatra again, on the grounds that he required cash for his run, and accordingly made a monstrous blunder by weakening her, ? which was non ethically inaccurate, however by Roman statute was invalid? ( Hoobler 32 ) . In 37 BC, in any case, Antony? s March due east prompted recover amicable relationship and a fear between both Antony and Cleopatra. From so on, Cleopatra? s impact over Marc Antony developed, and she wore Egyptian vesture that spoke to the goddess Isis and is accounted for to hold embraced the undermentioned revile: ? Similarly positively as I will one twenty-four hours appropriate judgment in the Roman Capital? ( Newman 556 ) . At the point when Antony orchestrated Caesarion, and his ain three children by Cleopatra, to partition administering both Egypt and Roman states in Asia Minor and formally separated Octavia, the Romans were savage. Octavian announced war non against Antony, however against Cleopatra, and declared Antony into the Senate. Romans felt it was vastly improved to announce war on the outside sovereign that they accepted was act uponing him, than on Antony himself. Cleopatra kept Antony from go forthing her to battle Octavian, who was winning quite a bit of his eastern locale from him. At the contention of Actium in 31 BC, Cleopatra? s Egyptian powers, along with Antony? s Roman powers, confronted Octavian? s armada, told by Marcus Vipsanius Agrippa. During this maritime clash, when Cleopatra withdrew and Antony, captivated as he was with her, quickly followed, and Octavian won an incredible triumph. Anthony joined his hosts in Cyrene, and Cleopatra went to Alexand

Statistics and Computing Essay Example for Free

Measurements and Computing Essay 1.0Introduction This report will cover the appropriation of last, most important test results for BSB123 and what variables impact the outcomes. Variables that will be considered are the sex of the understudy, regardless of whether the understudy is examining a twofold or single degree, the outcomes from the week after week quiz’s and the evaluation accomplished on the mid semester report. The nearness of anomalies will be resolved to help examine the precision of the information. There are an interminable number of interior and outer variables that add to the result of a solitary test result. Beaty, Barling (1982) clarifies how factors, for example, stress and tension can add to low test outcomes and they give a few self improvement arrangements of how to support ones achievement. This report will centers essentially around quantitative information that can be effectively broke down and considers clear perceptions to be given about the relationship each assessed factor has on the last, most important test result. 2.0 Outliers The initial phase in breaking down the information is deciding whether anomalies exists inside the information. The nearness of exceptions must be assessed on the grounds that their reality could contort the information and make it erroneous. So as to decide whether exceptions exist the normal and standard deviation must be determined so as to ascertain the Z score, which will appear, shrink or not anomalies exist. In this case to anomalies where discovered present in the informational collection as the entirety of the information fell inside the +3,- 3 territory, the biggest positive exception was 2.46 and the biggest negative anomaly was - 1.90. It is critical to take note of the regardless of whether any exceptions where discovered they would not really make the examination progressively exact as (Baragona, Battaglia, Poli, 2011, p. 159-197) clarify everything depends about the translation of the information. 3.0 Distribution of last test of the year results This area shows the differing levels of end of the year test results from understudies in BSB123. The figure underneath shows the various evaluations from the 705 understudies. They are spoken to utilizing a bar outline. Figure 1.0 The conveyance appeared here is a basic estimation of how the test results are appropriated among the understudies. The information is a hilter kilter right slanted or positive dissemination of 0.46. The best measures of score are found in the correct tail over the mean with an a lot littler measure of score being seen in the left tail. On the off chance that a comprehension of the information is to happen a basic methodology must be taken. On the off chance that the entirety of the 705 last, most important test scores are found the middle value of we can see that the normal score is 28.51 with is definitely not great. The crate plot beneath shows the Min, Q1,median, Q3 and the Max Figure 2.0 4.0Bivariate Analysis This segment will talk about the conceivable factures that may affect the student’s test results. The accompanying components and there effects will be investigated, they are the sex of the understudy, shrink or not the understudy is in a twofold degree, there test results and there report grade. Let’s start. 4.1Gender It very well may be seen from the information that there is, best case scenario a negligible contrast in the manner that sexual orientation influences the last test of the year results. The covariance between the too just fluctuates from 0.16 to 0.11 the thing that matters is short of what one along these lines it is viewed as inconsequential. Figure 3.0 The distinction in the appropriation seen here has no effect on the last, most important test results in this way the following variable will be examination in on the following page. 4.2Double Degree The effect of whether the understudy is taking a twofold or single degree offers some accommodating knowledge without precedent for this report this report about imagine a scenario where anything is affecting the student’s last, most important tests. Figure 4.0 The chart above shows a perceptible contrast in the test results betweenâ the two gatherings. The understudies what where tried out a twofold degree scored fairly higher than the understudies that where just endeavor one degree. This might be to the way that they are progressively engaged and likely not working all day or even low maintenance. We will proceed with our examination on the accompanying pages by seeing scholastic factors inside BSB123. 4.3Quiz Results Examining the impact that the week after week test results have on the last, most important test results can assist with comprehension if high test results mean high test results. Figure 5.0 The information in the above dissipate plot shows that there is a relationship between's the test results and the test results. Râ ² = 0.536, which demonstrates that about 54% of the variety in the normal of the test is represented the straight relationship with the test results. As such, about 46% of the variety isn't clarified by the least-squares relapse line. 4.4Report Results The last test factor that will be tended to in the bivariate area is the effect of the outcomes from the mid semester report on the test results. Figure 6.0 The relationship between's the report results and the end of the year test results in not over whelming stockpiling. The pattern line in the chart can be viewed as slopping upward from left to right demonstrating that. It very well may be seen that most of understudies that accomplished well on the report likewise accomplished well on the test 5.0Trivariate examination Trivariate examination thinks about tree factors against one another so as to assist better with understanding the test out comes. 5.1 Degree versus Test Quiz Figure 7.0 Figure 7.0 states that understudies who are doing a twofold degree accomplish better grades contrasted with the understudies who are doing a solitary degree. On normal itâ can be seen that over all test results don't significantly affect the result of understudies end of the year test results, on the other it tends to be seen that twofold certificate understudies beat different understudies at a normal of 4.61%. Connection for single certificate understudy are 0.514 which is 51% of the variety contrasted with relationship of twofold qualification understudies are 0.578 which is 58% of the variety. Additional data identifying with this conversation can be found in the supplement named figure 2.0. 6.0 Conclusion After the concise investigation of the test results it very well may be seen that a portion of the variables talked about do affect the test results while others don't. The informational index was viewed as having a privilege slanted conveyance without any exceptions. Sexual orientation seemed to have no effect on the test results. Understudies in a twofold degree normal a score of 4.61% higher than different understudies. Test results demonstrated a decent sign of what a student’s test results would be. The report results made little difference to test results. This report albeit brief has offered some understanding into what components sway end of the year test results for student’s examining BSB123. References Beaty, D. Barling, J.(1982) Positive test resultsâ€Without stress Retrieved from: http://www.sciencedirect.com.ezp01.library.qut.edu.au Baragona,R, Battaglia, F, and Poli, I. (2011). Transformative Statistical Procedures: Statistics and Computing, (pp 159-197). Recovered from: http://link.springer.com .ezp01.library.qut.edu.au

Do you Want to Go to College This Fall Theres Still Room!

Do you Want to Go to College This Fall Theres Still Room! The National Association for College Admission Counseling (NACAC) just reported that colleges and universities still have space available for qualified freshman and/or transfer students.   Even better news it that nearly all have financial aid to offer.   The survey asked four-year colleges and universities about the availability of space, institutional financial aid and housing as of May 1, 2010. Twenty-three percent of the respondents are public colleges and 77% are private. Ninety-three percent have housing space. If you  have not yet completed the college admission process, and want to apply, see NACACs annual Space Availability Survey: Openings for Qualified Students.

Kite Runner Father Son Relationship - 1628 Words

Father Son Relationships in The Kite Runner Sigmund argues â€Å"I cannot think of any need in childhood as strong as the need for a father’s protection†. A child’s treatment in their early memories directly impacts a child’s future. Moreover, it is important for elder figures such as fathers to raise their children with genuine love, protection, and care. In the novel, â€Å"The Kite Runner† the connection between a father and son may not always be one of love, but rather it is loaded with compassion and satisfies their needs which help prepares a child to understand right from wrong. In The Kite Runner, Khaled Hosseini uses the complex emotional bond between fathers and sons to demonstrate the necessity of a sympathetic fatherly figure to protect†¦show more content†¦This shows the sacrifices his father made for Amir although he also did not agree with the life path Amir had chosen but still stuck through. Additionally, Baba succeeds in protecting Amir as he gets into a fight with Assef, this is the central climax where he finally stands up to his lifelong tormenting bully who has been a threat to him and his half-brother, Hassan for far too long. In the novel, Amir states, â€Å"I DON T KNOW if I gave Assef a good fight. I don t think I did. How could I have? That was the first time I d fought anyone† (Hosseini 136). Assef, the antagonist, had always been a threat to Amir, physically, mentally and emotionally. Amir is successful in defending himself for the fate of Sohrab against the threats in society. Amir says, in a way he welcomes the beating. It is the punishment he deserved for his actions toward Hassan, but which he never received. It is the reason he feels relief and a sense of healing as Assef beats him, and why he begins laughing. For Amir, the situation means he can now intervene in Hassan’s rape, at least symbolically, by saving Sohrab from further sexual abuse. Amir is left with a scar on his lip, which symbolizes the hare lip Hass an had that had to be repaired. Amir has finally faced his fears and lets go of his guilt and shame. Baba’s upbringing of Amir is finally proven successful inShow MoreRelatedThe Importance Of Father Son Relationship In The Kite Runner1335 Words   |  6 Pagesthemes of The Kite Runner, which is the importance of a father-son relationship. Amir desperately tries to understand his father because he feels that he does not reach Baba’s high expectations, which he conveys by saying that he may â€Å"disappoint him again.† So, this drives him to want to do anything to make Baba proud. However, he even fails to understand his father’s one main principle: theft is sin. As a result of the confusion between father, Baba, and son, Amir, their relationship starts to witherRead MoreKhaled Hossieni s The Kite Runner1433 Words   |  6 PagesKhaled Hossieni was born in 1965 in Kabul, Afghanistan. He is a successful physician however, he is better known for his vivid Afghan based novels. Growing up his father was a diplomat and his mother was a school teacher. They had to move around often for his father’s job and in 1976, they moved to Paris and his father worked at the Afghan embassy there. Due to the Soviet invasion of Afghanistan in 1979, it was unsafe for the family to return home. They sought out safety and moved to San Jose, CaliforniaRead MoreLiterary Analysis : The Kite Runner And Oedipus Rex1292 Words   |  6 PagesThe Kite Runner Oedipus Rex: Literary Analysis Essay Although The Kite Runner and Oedipus Rex differ from the style in which they were written and by the authors who wrote them what they do share are common themes. Both the play and the book share two major subject matters. Guilt is one theme that is seen constantly between Amir dealing with it in The Kite Runner written by Khaled Hosseini and Oedipus and Jocasta’s struggle with it in Oedipus Rex written by Sophocles. Another theme found in bothRead MoreSimilarities Between The Kite Runner And The Kite Runner838 Words   |  4 Pageshas to deal with a father/son relationship. With Amir just wanting his own fathers approval, and Oedipus murdering his father (and sleeping with his mother, but that’s not really â€Å"important† right now†). Starting with Oedipus Rex, he was not aware that he was doing anything wrong. It was â€Å"his duty† to do so. For it was in the oracle of laius that if her were to have a son, that he would be murdered by said child. â€Å"The oracle tells Laius that if he does have a son, his son will kill him†. He wantedRead MoreAlienation Amidst Dissimilarity: The Kite Runner1212 Words   |  5 Pagesemotions† (Alienation 1). Multiple times in the novel The Kite Runner, the protagonist, Amir, lives through an alienation that causes him to search for alternative routes in order to feel accepted. Amir struggles to stand up for himself which concerns his father, Baba, about his future well-being as an adult. The values that Amir possesses that make him so unique from ordinary children his age aggravate Baba. He endeavors to please his father who ignores him; but what Amir perceives to be attentionRead MoreKite Runner Essay899 Words   |  4 Pages10/11/12 The Kite Runner Do you know that Afghanis play a game where they fight with kites? The Kite Runner by Khaled Hosseini describes kite fights between local Afghani kids, regardless of their social status. The main characters in this story that come from a higher socioeconomic level are Baba, a lawyer from the Pashtun tribe, and his son Amir. The main characters in this story that come from the lower socioeconomic level are Ali, a servant from the Hazara tribe, and his son Hassan who areRead MoreCritical Analysis Of The Kite Runner1090 Words   |  5 PagesOctober 2017 Consequences of War: A Critical Analysis of the Kite Runner On a day to day basis, an individual is faced with an obstacle they must overcome, ultimately defining their morals and values. In the literature perspective, the novel The Kite Runner delivers multiple thematic ideas that portray the struggles of characters in their ordinary lives. Khaled Hosseini, author and physician, released his debut novel The Kite Runner in the year of 2003. This novel is written in the first personRead MoreSymbolism Of Kite Running By Khaled Hosseini1243 Words   |  5 PagesKali Denney Mr. Snyder AP Literature and Composition 11 December 2015 Symbolism of Kite Running In this essay the book being discussed is, Kite Runner by Khaled Hosseini. Khaled Hosseini’s biography will be discussed as well as the historical influences upon him that affect the novel as a whole. The essay will contain a critical analysis as well as an analysis of the critical response to the work by others. In the novel and now a grown man, the main character Amir recalls events in his childhoodRead MoreAn Outline of The Kite Runner1602 Words   |  6 PagesKite Runner Outline Thesis: Betrayal leads to feeling of guilt which forces the person in search of redemption either directly or through indirect actions and gestures. What truly constitutes forgiveness? Forgiveness has a different context depending on where the person is from or what he believes. Religion places a great emphasis on the view of forgiveness. Love is the major reason why people want to forgive and thus move on to normalize their relationships. In the Kite Runner, RahimRead MoreExternal Influences On Character Development In Khaled Hosseinis The Kite Runner983 Words   |  4 PagesCharacter Development in The Kite Runner Parents are an essential part of the emotional and behavioral well ­being of their children. Often, parents fail to notice the negative effects that a poor parental relationship can have on a child. Neglect appears when parents are not meeting the physical and emotional needs of their offspring, which puts the child at risk of not receiving a full understanding of the right moral compass. Khaled Hosseini’s novel, The Kite Runner, portrays the story of two friends

Essay on Ancient Crete - 1632 Words

Ancient Crete First Inhabitants ?Humans are believed to have arrived on the island now known as Crete sometime between 6500-6000 BCE, and the early Neolithic inhabitants may have arrived from Asia Minor.? While these early inhabitants were primitive, they had already adapted some stages of productivity such as possessing domestic animals (?Minoan,? Dilos).? Modern archeological findings date handmade ceramic pottery, which was frequently decorated with incised geometric motifs and made to imitate vessels made of straw, wood, or hide, to this early time period (Koutsoupakis).? Minoan Civilization ?Around 3000 BCE, Crete became the home of the early Minoan civilization, a Bronze Age culture, named after the legendary ruler†¦show more content†¦Pottery styles and decorations evolved during this time as Minoans used particular firing techniques and shaped pottery into designs such as ?teapot? shapes and tall, beaked pitchers.? Toward 1900 BCE, the end of this period, known as the Pre-Palace Period, the first polychrome pottery was made (?Minoan,? Dilos). The First Palace Period: 1900-1700 BCE ?The next historical period, known as the First Palace Period, has been so named because the Minoans began to build large palaces.? Modern excavations indicate there were palaces in Knossos, Phaestos, Malia, and Zakros, though archeologists believe there must have been others (?Minoan,? Dilos).? Excavations of these palaces have revealed several common characteristics: each contained a large public courtyard and provisions for storing large quantities of grain.? The palaces were believed to be administrative centers for large local populations; for example, recent estimates suggest Knossos had between 15,000 and 50,000 people (?The Missing Minoans?).? Palace excavations also reveal fine decorative pottery, perhaps the most decorative in the world, which was probably made at palace workshops (Koutsoupakis).? The pottery, known as Kamares ware and named after the cave where the pottery was first discovered, utilized polychrome and full movement in its designs.? Made in a variety of sha pes, andShow MoreRelatedCauses Of Minoan Civilization993 Words   |  4 Pagescivilization is the first advanced civilization of the prehistoric Aegean region that was developed on a small island of Crete, where Sir Arthur Evans an English archaeologist named the civilization after a Cretan king called Minos. Therefore, the purpose of this paper is to identify Minoan major civilization and the cause of its demise. Mystery of Minoan Crete Civilization Crete was the first inhabitant during the Neolithic period known as the â€Å"New Stone Age†. It was of the believe that the earliestRead MoreEssay on The Palace of Knossos995 Words   |  4 PagesArchaeology gives the modern world a window into the past. One of Greece’s major dig sites is the palace of Knossos. The palace of Knossos stood on the island of Crete near the modern town of Heraklion at the co-ordinates 35 ° 17’ 52.66†N, 25 ° 9’ 47.36†E. It was the home of King Minos and his queen. The Palace is the setting for a myth where the queen gave birth to a being that was half man, half bull, the Minotaurs, which was kept in the labyrinth of the palace; He was eventually slayed by the AthenianRead MoreThe Snake Goddess1440 Words   |  6 Pagesfigurine, however evidence supports that The Snake Goddess symbolizes fertility, holiness, and life and death (Flamee). The most prominent way The Snake Goddess represents fertility is by her appearance. Standing at 13 ½ inches in the Herakleion Museum at Crete, The Snake Goddess holds a snake in each hand, wears a hat with a sitting cat on top and has exposed bare breasts (Witcombe). The fact that she is depicted partially nude, with her breasts uncovered is interpreted as a sign of fertility mostly relatingRead MoreSpreading Your Wings Essay806 Words   |  4 Pageskey component. One piece of Whiting’s collection which can be seen at the River Gallery Sculpture Garden is his representation of Icarus. In Greek mythology, Icarus was the son of Daedalus, who built the labyrinth for King Minos of Crete in order to imprison the Minotaur. Minos imprisoned Daedalus and Icarus as well, though. However, being a craftsman, Daedalus constructed two pairs of wings from wax and feathers. When Icarus donned the wings and flew away from his prison, he flewRead MoreThe Differences Between Religion And Economy1177 Words   |  5 Pageseconomy apparent in Minoan crete indicates that women enjoyed an elite and possibly powerful status in society. The Minoans occupied crete for about 1500 years and yet the Evidence derived from archaeological sources display the omnipresent representation of women and supports the idea that the Minoans were a female dominated society. However, written references to the Minoan ruler mention a ‘King Minos’ and create a platform for debate as to who, if anybody, ruled Minoan Crete. Religion and it’s significanceRead MoreThe Bull At The Palace Of Minos Essay1836 Words   |  8 Pagescaptivating tales from Ancient Greece is that of King Minos of Crete and the Minotaur, a beast half-man and half-bull. This legend, immortalised by modern films, has its origins in the Aegean, at a time when the bull held a special place in society. During excavations near Heraklion in Crete in 1990, English archaeologist Sir Arthur Evans unearthed a massive structure built by a sophisticated Bronze Age civilisation. Evans identified this as the Palace of King Minos in the ancient city of KnossosRead MoreThe Aegean Bronze Age Essay1516 Words   |  7 Pagescreatures, hybrids and composites were prominent, alluding to the ways in which the Minoan populace endured the changing scope of their society. Yet despite these emblems’ production, the notion of fantastic beings did not necessarily originate from Crete alone. More often than not, cultural practices migrated and constantly moved allowing for adaptations in material culture to materialize. Bearing this in mind, this essay will seek to probe the ways in which fantastic creatures moved and were adaptedRead MoreAtlantis: A Lesson Thats Twisted or Could It Have Existed? Essay1187 Words   |  5 PagesFantasy is a tough sell in the twenty-first century. The world has been completely discovered and fully charted. Popular media has effectively minimized the legend and fantastic rumor, and advances in science continue to disprove many ancie nt myths. Satellites have mapped and studied the earth, leaving only a space frontier that is yet unreachable. But standing out is a charming fantasy the modern world has yet to verify or condemn: the Lost Continent of Atlantis. Plato gave the world itsRead MoreThe Greek Island Of Crete1411 Words   |  6 PagesLocated on the Greek island of Crete is the ancient Palace of Knossos. It is found on the outskirts of the modern day city, Heraklion. The city of Knossos, as shown below, is directly focused in the centre of Crete and is slightly off the north coast. Even more so, it is situated south of the Greek mainland. Knossos, in simplistic terms, is an ancient Minoan palace and surrounding city on the island of Crete, where it was sung of by Homer in his Odyssey. The marvelled settlement wasRead MoreThe Minoan Civilization On The Mediterranean Island Of Crete Essay1141 Words   |  5 PagesThe Minoan Civilization began on the Mediterranean island of Crete. It was first excavated by Sir Arthur Evans. The possible civilization sparked his interest when a charm that the Minoans use to wear was found, and it was brought to his attention. He started at Knossos, where the possible civilization became a reality. He uncovered multiple palaces, which have all been named since then. They are named: Knossos, Phaistos, Malia, and Zakros. Each one shows signs of religion, trade, and politics. They

American history id groups Free Essays

The Armenian colonies had strong motivation as well as communication with each other that helped them suck together through all the hardships and changes they went through In the new world. An example of the colonists sucking together was while on the Mayflower all the people aboard knew that their chances of survival depended on sticking gather so, they agreed to form a democracy in which all of the men could vote to create laws for the common good of the colony. Known today as the Mayflower Compact, this agreement acknowledged the king and God, but modeled a new concept called the consent of the governed, which means common people voluntarily agree to allow the government to have authority over them. We will write a custom essay sample on American history id groups or any similar topic only for you Order Now Success didn’t come easy, and nearly half the passengers and crew died of hunger, disease and exposure before the winter was out. Still, the survivors were determined to make it in the New World, and they remained In America when the ship returned to England In April. Bradford knew that the colony could only survive If they had a harvest their first year, since there would be no re-supply shipments. So, he directed that each family plant their own seeds and provide their own food. This task was aided, once again, by their Indian predecessors, who had done all of the hard work of clearing fields for planting. But still, they struggled to get their European crops to grow in New World which caused many hardships that they got through by their unity. How to cite American history id groups, Papers

Summer Internship Project free essay sample

He/ She will study the annual reports of the company for the past couple of years, understand the policies of the company, study the macro-environment in which the industry is operating. The Intern may also get oriented to various departments of the company and get to know the key functionaries. The Interns may meet these functionaries with prior appointment and understand the various perspectives from them in managing their departments. The interns will also get to know their company mentor and other executives/supervisors who will be closely guiding them during the period of Summer Internship. We will write a custom essay sample on Summer Internship Project or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page By the end of the orientation program in the company, the Intern should be able to clearly state his/her business objectives which would include specific and measurable targets to be achieved during the On-Job Training , break-up of targets on a weekly basis, synopsis for the Summer Training Report, etc. 2. 2 On-Job Training On-Job Training may stretch from the beginning to the end of Summer Internship. During this period, the Intern may be assigned various tasks by the organizations, which are part of the day-to-day functioning of the department within the organization.On-Job Training gives direct exposure to execution and support functions of the department. It gives a flavor of teamwork, organizational culture, team dynamics, result orientation, organizational pressures, complexities in achieving the desired results, etc. An Intern should take this as a learning experience and be ambitious of achieving the desired targets or accomplishing the required tasks, through professionalism and business acumen. On-Job Training provides good scope for developing necessary managerial skills and positive attitude.The Interns should keep this in their mind that the future employers will assess them on their summer internship and whether or not their temporary employer liked them enough to invite them back permanently. So work as hard as you can. At best, you may discover a fabulous new field youd never considered before. At a minimum, youll get a full-time offer, which will make you more marketable to future employers. The summer should be a time to make an investment in your future. 2. 3 Summer Training Report Each intern will undertake project/research work during the period of Summer Internship leading to Summer Training Report.A student would be assigned a specific project/research work involving project/research design, designing of questionnaires, application of sampling techniques, administering the survey, tabulation of data, application of statistical/managerial tools for analysis of data and drawing inferences/testing hypothesis thereof and finally culminating in the preparation of a detailed Summer Training Report. A good summer training report, providing value to the corporate may be the trigger for a better placement opportunity. 2. 4 Expectations from a Summer Intern – Behave as a quasi-employee of the organization. Follow all the rules, regulations and codes of conduct of the organization. – Strictly follow the Summer Internship guidelines. – Prepare Industry/Company profile as soon as possible after commencement of the Summer Internship and submit it to the Faculty Mentor. – Have continuous interaction with the Faculty Mentor, Placement Manager and the Company Mentor. – Report constraints if any, to the Faculty Mentor without delay. – Submit weekly progress report to the Faculty Mentor. – Endeavor to secure pre-placement offer in Summer Internship Company through dedicated work and result orientation.

Women as Change Agents

Most business leaders and employers are becoming increasingly aware of the importance of workplace flexibility with the increasing number of jobseekers who would prefer to work on a flexible schedule rather than work in a highly paying job with a tight schedule. Therefore, more and more employers are seeking options and programs to implement workplace flexibility in their organizations.Advertising We will write a custom case study sample on Women as Change Agents specifically for you for only $16.05 $11/page Learn More However, there is a notable gap in workplace flexibility between men and women. In fact, some business leaders such as Kathleen Christensen believe that flexibility for women in the workplace is a social and structural issue. This is a fact considering that the traditional workplace was designed to fit the male workers because they could afford to work full-time without taking breaks to attend to other social imperatives such as care-givin g responsibilities (Richard Heffiner’s Open Mind, 2005, para. 3). Furthermore, most career paths were designed in such a way that people got employed in their early twenties, advanced through ranks, and retired in their sixties. This type of career path does not fit the needs of parents especially women who are currently contributing to almost half of the workforce. In the long run, people end up working for 80 hours and over while neglecting important social responsibilities such as child rearing, cooking, and cleaning. Therefore, it is obvious that this workplace structure does not fit the working parents, and hence, it is important to allow more flexibility in jobs in order to enable parents attend to other equally important matters (Richard Heffner’s Open Mind, 2005, para. 2-6). On the other hand, various factors underlie the historical trends in women’s flexibility in the workplace. According to Domenico and Jones (2006, p. 1), women have been subjects of c riticism throughout history with some critics viewing working women as immoral, unfeminine, objects of pity, and negligent mothers. Therefore, for a woman, having a career was a challenge considering their responsibilities and duties as mothers and wives, which could compromise their professional responsibilities. Because of these simultaneous work-family demands, it was difficult for most women to put their career aspirations first, and thus, their careers were significantly affected (Domenico Jones, 2006, p. 1).Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Furthermore, despite most women joining the workforce in large numbers over the years, their success in achieving career goals and objectives have been dwarfed by different factors including working in low-paying and less flexible jobs such as sales, nursing, social work, and teaching; or remaining in some conventional careers that could only afford them inflexible job opportunities. These factors are also closely related to stereotypical occupational roles designated to the male and female genders, which subsequently cause discrepancies in income, opportunities for growth, and career advancements between the two genders (Domenico Jones, 2006, pp. 2-7). Accordingly, two schools of thought have arose in an attempt to highlight the factors affecting women’s pay (gender wage gap) in the workforce while taking note that women are likely to earn about two-thirds of what is paid to males with comparable qualifications and experience (Domenico Jones, 2006, p. 1). According to the human capital explanation, women are bound to earn less because their labor and hence productivity are divided between the family and work in comparison to men. Thus, the family responsibilities influence the working woman’s decisions when it comes to investing in education and devoting time to professional work. For exa mple, since women are expected to remain in the workforce for fewer years compared to men, it is obvious that they will invest less in obtaining work-related skills. Overall, less investment in work-related skills, lower productivity, discontinuous work history, and skill depreciation among most working women are the main factors driving the discrepancies in wages between women and men (Levine, 2003, p. 9). On the other hand, the discrimination school of thought holds that the work-related variables and sex segregation determine the gender wage gap. For example, men and women are bound to be clustered into different occupational groups whose pay grades are different. Hence, since most women are excluded from well-paying jobs through occupational segregation, their pay is also low compared to men (Levine, 2003, p. 11). The underlying factors affecting women’s workplace flexibility and income notwithstanding, the number of working women is projected to increase in the next 10 y ears considering that most women are venturing into the once male-dominated careers such as finance, construction, and engineering. The same trend can also be noted from the rising number of women-owned firms and businesses most of which are non-farm businesses.Advertising We will write a custom case study sample on Women as Change Agents specifically for you for only $16.05 $11/page Learn More These businesses have been contributing a significant percentage of revenues generated from non-farm businesses in America while employing more than 7 million workers. Therefore, it is hereby hypothesized that as more and more employers fail to meet the flexibility requirements of most working women, more and more career women will turn to women-owned businesses, which have shown a solid growth according to statistics taken in 1997-2002. Therefore, most employer firms are challenged to embrace workplace flexibility in their organizations if at all they are to rec ruit and retain talented and experienced workers especially the career women in the contemporary society (Levine, 2003, pp. 13-19). References Domenico, D.M., Jones, K.H. (2006). Career aspirations of women in the 20th Century. Journal of Career and Technical Education, 22(2), 1-7. Levine, L. (2003). The gender wage gap and pay equity: Is comparable worth the next step? USA: The Library of Congress, Congressional Research Service. Richard Heffner’s Open Mind. (2005). Women as change agents in America, Part I. The Thirteen Editorial Services. Web. This case study on Women as Change Agents was written and submitted by user Frederick Marquez to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Quotes That Reveal the Most Hate Around Us

Quotes That Reveal the Most Hate Around Us Hatred is a powerful emotion. Unless kept in check, hate can cause an avalanche of destruction. It wreaks havoc on relationships, breaks up families and even takes innocent lives. It preys on civil societies. With hate, dark thoughts of revenge and destruction can cloud the mind. These quotes illuminate this most devastating and destructive emotion that has been with man throughout time and illuminated in religious texts as well as pop culture. Famous Quotes on Hate Jonathan SwiftWe have just enough religion to make us hate, but not enough to make us love one another. Kurt TucholskyThose who hate most fervently must have once loved deeply; those who want to deny the world must have once embraced what they now set on fire. Maya Angelouâ€Å"Hate, it has caused a lot of problems in the world, but has not solved one yet.†Ã‚   Coretta Scott KingHate is too great a burden to bear. It injures the hater more than it injures the hated. Oprah WinfreyYou cannot hate other people without hating yourself. George Bernard ShawHatred is the cowards revenge for being intimidated. William Shakespeare, Antony and Cleopatraâ€Å"In time we hate that which we often fear.†Ã‚   Rene DescartesIt is easy to hate and it is difficult to love. This is how the whole scheme of things works. All good things are difficult to achieve, and bad things are very easy to get. The Rev. Dr. Martin Luther King Jr.Hatred paralyzes life; love releases it. Hatred confuses life; love harmonizes it. Hatred darkens life; love illuminates it. â€Å"Let no man pull you so low as to hate him.†Ã‚   Napoleon BonaparteA true man hates no one. Lord ByronHatred is the madness of the heart. AristotleTo enjoy the things we ought, and to hate the things we ought, has the greatest bearing on excellence of character. Stephen KingMonsters are real, and ghosts are real too. They live inside us, and sometimes, they win. Victoria WolffHate is not a good counselor. Charles Caleb ColtonWe hate some persons because we do not know them, and we will not know them because we hate them. Sir Walter RaleighHatreds are the cinders of affection. Zsa Zsa GaborI never hated a man enough to give him his diamonds back. Arnold SchopenhauerHatred comes from the heart; contempt from the head; and neither feeling is quite within our control. Henry Ward BeecherThere is no faculty of the human soul so persistent and universal as that of hatred. Kathleen NorrisHate is all a lie; there is no truth in hate. George EliotHatred is like fire - it makes even light rubbish deadly. Henry Emerson FosdickHating people is like burning down your own house to get rid of a rat. Ivy CullerHate less; live longer. John Steinbeckâ€Å"Try to understand men. If you understand each other you will be kind to each other. Knowing a man well never leads to hate and almost always leads to love.†

Cultural Effects of Alexander's Conquests Essay

Cultural Effects of Alexander's Conquests - Essay Example The people of Asia were quick to adopt the culture of the conquerors. This situation set the stage for integrating Greek culture in the conquered territories and information from both ways. As a result artists, painters, musicians and writers flocked to these cities founded by Alexander in Persia, Egypt and in the later other cities also followed classic Greek city style, complete with baths, temples and public meeting places, a style directly borrowed from Greek, which was further spread along the Silk road in the conquered territories. It is a well-known fact that, the changes in cultures, which we know as history of the civilization, are the direct consequence of sweeping conquests. When Alexander's armies subjugated the known world by their military prowess, the result was Hellinization of the cultures in the centuries to come, and the impact was equal spread from Europe to Middle East and Central Asia. By 323 BC Alexander Empire was stretched from Greece to Egypt, Iran and India. As the Empire grew larger, so does the Greek influence in these new conquered territories. At every conquered territory Alexander setup a strategic military installations with complete Greek style towns, which imported the Greek culture and ideas. And these influences can even be observed even in today in central Asian art and architecture. Despite the enormous distance between the Asia and Europe, the two continents were in contact via Silk Road, which was famous and well-known route for travelers, merchants, pilgrims spreading trade and culture along the silk road from Rome to Central Asia .Without any doubt it was the conquering nations who brought this cultural change and diffusion allowing this diffusion of cultures. Alexander made conscious efforts to hellinize the world, which can be seen by his marriage to Persian princess, the daughter of Darius III .He also asked 80 of his officers to marry local women. During 324 B.C in a feast he offered 10000 of his men foreign women. Other than that he also built about thirty Greek style cities along the route of his conquest, an extension of Hellenistic empire, which continued long after his death. These cities, in the later years even though separated from Greek rule remained alive enclaves of Greek culture. The elite of these cities not only spoke Greek language, but also adopted Greek customs and traditions, including taking part in Greek athletics. Alexander conquests provided the chance for Hellinism to flourish with much greater force among these territories. As a result Greek culture became the culture of the rulers. Alexander used different techniques to consolidate these conquests. For example Alexander founded the colonial installations, even though some were mere military installations, mainly occupied by army to control the city. The important aspect of these cities and town was to acquire the status of Greek cities and able to imitate the Greek style of government. Greco- Macedonians, who lived like Greeks formed part of the local population, ruled these cities. Being conquered, it was natural for these conquered territories to follow the Greek culture and language. One of Alexander's general Peukestas learned Persian language and even became familiar with Persian culture and adopted their clothes, which was an exceptional case. Normally it was the conquered population, who followed the Greek traditions and tried to b ecome part of hellenized culture for

Financial Analysis of Durango Manufacturing Company Research Paper

Financial Analysis of Durango Manufacturing Company - Research Paper Example Durango Manufacturing Company is a firm that deals in manufacturing of a variety of products and the supply of industrial products. The firm deals in aircraft manufacturing, apparel manufacturing, automotive manufacturing, chemical and allied products, glass manufacturing, home and garden supplies, industrial importers and exporters, paper and pulp, railroad manufacturing, and other forms of manufacturing. The organization has in the past received Best Business Bureau (BBA) accreditation, which recognized their relentless commitment to making strenuous efforts of satisfying consumer complaints. The award considers the period of time the business has been in operation, the amount of information available concerning the business, and most importantly, there should be no consumer complaint filed with the Better Business Bureau (Csaszar, 2012). Durango manufacturing company’s Chief Executive Officer (CEO) does not have sufficient expertise in financial management and creating valu e for the firm’s various stakeholder groups. ... Corporate finance is crucial as it defines how organizations fund their activities and achieve their goals and objectives. Organizations are always faced with a dilemma between re-investing their excess revenues or using it to pay shareholder dividends. An ample financial literature is crucial as it enables chief executive officers to rationally appropriate the finances of an organization while maintaining high quality shareholder relations. The Chief Executive Officer (CEO) of Durango manufacturing limited should seek financial training to enhance his financial literature. The firm is a large multinational firm with extensive financial implications. Also, the magnitude of its daily operations represents a relatively large financial risk that requires high-tech financial management expertise. Because of the complexity of the organization, the managing director should seek training in financial management or management accounting. Management accounting comprises the provision of finan cial information, as well as the financial advisor to a business (Brigham & Ehrhardt, 2013). Financial management starts with the management of financial information (Bhat, 2008). Financial information refers to data like credit card numbers, account balances, credit ratings, and other monetary details concerning an organization, which are used in implementing various activities like credit assessment, loan transactions and sundry. The chief executive officer should know how to process financial information to safeguard Durango Manufacturing Company profile from bad publicity associated with financial misappropriations.  

Importance of Intellectual Capital in the Modern Economy

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