Earning Management Essay

â€Å"Earning Management† refers to those accounting practices that may follow the letter of the rules of fundamental rules of accounting practices but unethically misrepresented to the users of accounting information. For the personal interest managers often try to show outstanding performance of the business and use the strategic way to falsify Income, Assets or Liabilities. Earning Management as generally understood refers to systematic misrepresentation of the true income and assets of corporations or other organizations. â€Å"Creative accounting† is at the root of a number of accounting scandals, and many proposals for accounting reform – usually centering on an updated analysis of capital and factors of production that would correctly reflect how value is added. Quality of accounting information is one of the Fundamental Concepts of Accounting Framework. Where it’s mentioned that, accounting information must be Relevant, Reliable, Comparable, and Consistent & Comparable (Intermediate Accounting by Keiso, Weygandt, Warfield, 12th edition). Unless having these qualities a report cannot be treated as qualified. â€Å"Managers that always promise to â€Å"make the numbers† will at some point be tempted to make up the numbers†. – Warren Buffet Definition of Earning Management * Managing earnings is â€Å"the process of taking deliberate steps within the constraints of generally accepted accounting principles to bring about a desired level of reported earnings.† (Davidson, Stickney and Weil (1987), cited in Schipper (1989) p. 92) * Managing earnings is â€Å"a purposeful intervention in the external financial reporting process, with the intent of obtaining some private gain (as opposed to say, merely facilitating the neutral operation of the process).†Ã¢â‚¬ ¦ â€Å"A minor extension of this definition would encompass â€Å"real† earnings management, accomplished by timing investment or financing decisions to alter reported earnings or some subset of it.† (Schipper (1989) p. 92). * â€Å"Earnings management occurs when managers use judgment in financial reporting and in structuring transactions to alter financial reports to either mislead some stakeholders about the underlying economic performanc e of the company or to influence contractual outcomes that depend on reported accounting numbers.† (Healy and Wahlen, 1999, p. 368) Motivators Earning Management * Meet financial analysts’ estimates of earnings that leads to performance-based compensation * Raise the stock price thereby enhancing the value of stock options * Smooth net income making it appear that the earnings are increasing at a steady rate * Make it look as though future earnings are higher than they really are by establishing â€Å"cookie jar reserves† (inflated expenses) in the current year that can be drawn on in future years. (Dr. Steven Mintz, Professor and Area Chair, Cal Poly, San Luis Obispo) Conceptual Framework for Financial Reporting From this figure we’ve indicated that in the level – 2, where bridge between 1&3 creates should be the concerning point of maintaining the qualities of Accounting Information. Qualities are not only help to detect falsification, but also helps users to take decisions. Primary Qualities: * Relevance – It helps users to predict the ultimate outcome of past, present, and future events. It also helps users to predict that, how much loss/profit company can made. * Timeline – Specific timeline of accounting period helps users to trace out the business performance over the years. * Reliability – To assure that the information is verifiable, faithful and reasonably free of error and bias. Secondary Qualities: * Comparability – The reported information should be measured such a way that it can be compared with other company’s reports. * Consistency – Treatment of similar events from period to period must be used by same accounting standards. Standards cannot be changed suddenly, unless it’s proved that new method is better than previous. Perspective of Earning Management There are two perspectives on earnings management. (1) the Opportunistic perspective, states that managers seek to mislead investors by showing attractive & predetermined accounting information, (2) the Information perspective, first enunciated by Holthausen and Leftwich (1983), under which managerial carefulness is a means for managers to reveal to investors their private expectations about the firm’s future cash flows. (Earnings Management: A Perspective by Messod D. Beneish) Accrual vs. Earning Management Plenty of research report shows managers try to use Accrual in financial engineering. Accruals are the difference between net income and cash flows. For example, when companies sell items to others on credit during a growth period, the sale creates an accrual of revenue. When companies engage in earnings management, they can increase or decrease income by creating accruals; these are often referred to as non – discretionary (flexible) accruals. Reasons behind using accrual as the engineering tool are – * Accruals are the principle product of GAAP, so it’s easy to do falsification with camouflage. * Accruals resolve some problems related with the effects choosing various accounting methods. * It will be hard for investors to see effect of unobservable components of accrual. Types of earnings management Theoretically there are two types of earnings management. They are income increasing and income decreasing earnings management (Messod, 2001). a) Income Increasing earnings management: As the name suggests, income increasing earnings management is the process to boost up net income of the company intentionally (to hide the poor performance) so that investors get some wrong signal about the firm’s financial position and performance and make the decision of investing in to company (Messod, 2001). Management are motivated towards increasing earnings management because of getting more debt and equity Financing. b) Income decreasing earnings Management: This process of earnings management is done by decreasing the amount of net earnings. Management is more involved in income decreasing earnings management is to get future compensation like: reducing this month’s earnings by increasing expenses, they ensure the profit from the next month. Also tax avoidance, import tariff rel ief, union negotiations etc. are other reasons for manager’s motivation towards income decreasing earnings management (Messod, 2001). In corporate world these are the types of earning management mostly done by the management: a) Revenue and Expense Recognition Under standard accounting rules, a company must record revenue in its books when it earns that revenue — not when it actually receives payment. Similarly, it must record expenses when it incurs them — not when it actually pays money. These rules leave room for companies to manipulate their numbers for earnings management (www.budgeting.thenest.com). For example, say a company signs a deal on December 1 to buy $1 million worth advertising time on TV over the next two months. The company could recognize the entire expense in December, recognize the whole thing in January or split the difference. If it records it all in December, then that year’s profit will be lower by $1 million — but the company will get a â€Å"head start† on the next year’s profit by not having any advertising expenses in January. Profits have been shifted from one year to the next with an accounting trick. b) Cookie Jar Reserves Companies shift earnings around by creating overly large reserve accounts in good years, then drawing them down in bad years. For example, when a company sells a product with a warranty, it must recognize the estimated expense of honoring that warranty at the same time it books the revenue (www.budgeting.thenest.com). A company might conclude that it incurs warranty costs of $10,000 for every $1 million in sales. If it’s having a particularly profitable year, it might decide to take a $30,000 warranty expense per $1 million in sales. That builds up a big warranty reserve now so that the company doesn’t have to record warranty expenses in the future, thus shifting profits from one period to the other. This tactic goes by the name â€Å"cookie jar accounting,† because it essentially stashes excess profits away to be used when needed. c) The Big Bath There will be times when a company simply can’t avoid a bad year. No matter what it does, it’s going to post a loss because of a sour economy, unfavorable market conditions, and legal trouble, whatever. Some companies, though, deliberately make a bad year even worse by shifting all kinds of expenses, one-time charges and write-offs into that year and shifting revenue out of it. This allows it to inflate profits in future years (www.budgeting.thenest.com). The reasoning behind this strategy is that if the company is going to â€Å"take a bath,† it might as well take a big bath. The company’s stock price was going to suffer anyway, the thinking goes, and the damage probably won’t be that much worse if the company inflates the loss. Indicators of Earnings Management We have find out five factors which can be important indicators of earnings management: a) Political connection and earnings management: Firms with political connection (large number of stockholder, or CEO or board of directors of the company is a parliament member) are more involved in earnings management (Paul, Mara and David, 2010). Mainly the reasons are- political leaders help the particular firm involved in earnings management to avoid penalization by SEC and also political leaders use these companies’ financial performance and position to increase their public image. b) Internal Audit and earnings management: This one is another major indicator of earnings management. If the quality of internal quality is low there are some possibilities of earnings management. According to the research, if a company is having high quality internal audit, they might be less motivated towards earnings management (Douglas, Jason and David, 2008). Main reasons are: these internal auditors are more professional, responsible towards their job and they barely miss the expert’s expectations. c) Financial transparency and earnings management: Many studies have shown that financial transparency and earnings management are related. If a particular financial report is more transparent then the manager are less interested toward earnings management (James, Robert and Cheri, 2004) The main reason behind this situation is detail information about the accounts including: change in depreciation methods, details about each and every account will help investors to find out any manipulation done by the manager.

Economics- Bagel Industry

1. Bagel restaurant is likely to be a constant industry because it is in the perfect competition industry. Bagel restaurant is in the perfect competition industry because there are few entry barriers in this industry. Anyone could enter this industry. In the short-run, existing firms might get profit just as the case of George’s bagel chain. However, in the long-run, the profit attracts new competitors into this industry, causing price competition. Because each firm will produce at the point where P=LRMC, the price competition will force each firm to produce at the lowest point of the LRAC curve.Thus, each firm in the bagel industry faces the same cost which equals to the price of the bagel, meaning that bagel restaurant is in a constant cost industry. To maximize profit, firms have to produce at the point where P=LRMC. Supply curve shows the corresponding quantity at any given price. Thus, LRMC is the long-run supply curve for each firm. For firms in the constant cost industr y, they face a constant LRMC, which implies that the slope of the long-run supply curve is zero. By contrast, increasing cost industry face increasing LRMC curve, which implies that the slope of the long-run supply curve is positive. . Firms that can produce at lower price are those who have lower MC. Lower MC usually implies that these firms hold some superior factors that other firms don’t have. It seems that firms with superior factors can make economic profits. However, other firms will compete for these superior factors in order to also produce at lower cost, which increase the opportunity cost of holding these superior factors. Thus, firms with lower MC can’t make economic profit because the producer surplus from lower MC has been used to acquire the superior factors. 3.It is a good idea for George to enter the cranberry industry. The reasons are as following: 1)The cranberry industry shows steady growth rate. 2)George has the opportunity to acquire the superior asset in this industry – sandy peat bogs. 3)Sandy peat soil is not readily available in supply, which cause the entry barrier in this industry. Thus, although future profits might attract new competitors into this market as the case in the bagel restaurant, the limited supply of peat bogs makes it difficult for competitors to immediately enter this industry.Even the price competition happens in the future, George can still produce at the lower price because he owns the superior asset. Finally, as the case in previous example, although George can produce at lower price, he can make only the normal economic profit. This is because profit will cause competitors to compete for the land, which causes the appreciation of the sandy peat bogs. As a result, the opportunity cost of George’s holding the land will increase, which offset the producer surplus of George.

Chapter One The Press In Mauritius Media Essay

Chapter One The Press In Mauritius Media Essay For the health of democracy, access to information is really essential. In any democracy, citizens have the rights and responsibilities to participate in public matters. Knowledge about a society is obtained through free debates, newspapers, magazines, television and radio. All these are possible when there is a free and independent press. In all democratic countries, freedom of the press has been a treasured right. Press freedom is a pillar of democracy   [ 1 ]   . Often, the press is referred as the fourth pillar of a country   [ 2 ]   . Such freedom should be free from interference of the state. The preservation of the freedom of the press may be done through constitutional or legal protections. In the present chapter, the definition and the importance of the press freedom will be analyzed first. Then, the evolution and development of the written and audio-visual press in Mauritius will be examined before considering the constitutional foundation of the freedom of the pre ss of the country. 1.1 Freedom of Press 1.1.1 Definition of freedom of the press Everywhere in the world, the meaning of press freedom differs. Different countries possess different degrees of freedom of the press   [ 3 ]   . This suggests that freedom of the press is not absolute in the world   [ 4 ]   . In universal terms, defining freedom of the press is difficult. Various definitions to freedom of the press have been attributed by different scholars and in many text books. Lieberman (1953) defined freedom of the press as the right to serve, without government interference and with police protection, and the most fundamental right of freedom of information   [ 5 ]   . As for Dennis and Merrill (1996), freedom of the press is the right to communicate ideas, opinions, and information through the printed world without government restraint   [ 6 ]   . For both authors, the â€Å"right to share information† and â€Å"no government intrusion† is among the main elements of this freedom. For other scholars, free press is an independent adversary   [ 7 ]   performing the function of watchdog preventing the State from aggrandizing and abusing the rights of its citizen. Freedom of the press is not only the right of media; it is the right of the citizens also. Going back to history, in 1791, freedom of the press was legally guaranteed by the U.S Constitution, â€Å"congress shall make no lawà ¢Ã¢â€š ¬Ã‚ ¦abridging the freedom of speech or of the pressà ¢Ã¢â€š ¬Ã‚ ¦Ã¢â‚¬  Freedom of the press was recognized by the National Assembly of France in the Article 11 of the Declaration of the Rights of Man and of the Citizen. This freedom was considered to be a fundamental right in Europe and in the United States. In 1948, the United Nations declared it a universal right and adopted Article 19 of the Universal Declaration of Human Rights. Freedom of the press is derived from the fundamental right of freedom of information. The latter is a à ¢â‚¬Å"human right and the touchstone of all the freedoms. It implies the right to gather, transmit and publish news anywhere and everywhere without fetters†Ã‚   [ 8 ]   . The rights to seek and to disseminate information are of particular importance to the press. Along with freedom of information, freedom of expression also plays an essential role in press freedom. In

Nursing research Essay Example | Topics and Well Written Essays - 250 words - 61

Nursing research - Essay Example In effect, structuring questions in an open-ended approach provide extra information, other than Yes/No answers, is the most influential approach to structure the questions since they avoid biased answers while studying questions exhaustively. Networked computers that operate in a shared network connection, in the workplace are a  vital approach of sharing information since they connect individuals in the workplace. Other than this approach, information can be shared through the internet, which is the most efficient method of sharing information in the contemporary society. In line with this, information should be shared through media such as email, which is one of the official tools that people use to pass information in the workplace. On the other hand, websites work as an important tool to share information while social networking sites such as Facebook and Twitter also exemplify the use of technology to pass information in the

Case study for surgical technologist student Essay

Case study for surgical technologist student - Essay Example A recommended test will be either a CT scan or an MRI of the brain preferably together with an echocardiogram. The possible diagnosis is a transient ischemic attack or TIA due to smoking. If there is blockage, then a balloon angioplasty or coronary artery bypass surgery is needed. Diabetes causes hyperglycemia which is elevated blood sugar in which an excessive amount of glucose circulates in the blood plasma. Hyperglycemia can cause neuropathy which also includes collateral damage from microvascular injuries as well as macrovascular injuries due to repeated trauma or insults (either vascular or biochemical in nature) and an increased capillary hydrostatic pressure (Joslin & Khan, 2005, p. 1135). Hugos prognosis is five years without claudication when his own vein is used but the fem-pop bypass will remain open in about 50% of the cases five years after surgery if an artificial graft is used. Considering Hugo is now 65 years old, possible complications include leg swelling, bleeding and heart attack or stroke as he is a high-risk case. The risk of death is estimated at 1% to 3% of all surgery cases. 1. Collateral flow – refers to the alternative blood supply flow to the myocardium that has been jeopardized by ischemia (sometimes spelled as ischaemia). This is the process in which small and normally closed blood vessels (arteries) open up to serve as alternate routes if there is coronary heart disease, myocardial ischemia or a stroke (www.americanheart.org). 2. The difference – an ischemia is just a temporary stoppage in the supply of the needed oxygen to the heart for a very brief period of time while an infarction occurs when the heart muscles are deprived of the oxygen for too long that the muscles eventually die. There are other cases of ischemia and infarction occurring other than the heart such as what happens in the intestines due to a hernia, adhesions, arterial

Should base level funding for critical infrastructure protection Research Paper

Should base level funding for critical infrastructure protection against foreign terrorists organizations include domestic (internal) threats - Research Paper Example ously increased their capacities in terms of sophistication and potential damage, there is need to take necessary steps to guard key infrastructures both private- and publicly owned against these developments. In order to effectively tackle cases of terroristic attacks against CI, base level funding for protection against foreign terrorist organizations should include domestic or internal threats. Indeed in today’s modern world, without critical infrastructure a society cannot function optimally. In fact, it is only in times of peace and relative security that critical infrastructures are characteristically, for granted taken. It must however be appreciated that when one critical infrastructure is annihilated, the entire nation somehow feels the effects of the loss (ITAC, 2006). In some cases, the loss may be as great in magnitude as to affect one or more countries significantly. Owing to their significance, critical infrastructures are always naturally become vulnerable targets for terrorists – foreign or those that exist within the nation’s borders (ITAC, 2006). It is in appreciation of this fact that the government in conjunction with its citizens and other stakeholders must always ensure that these infrastructures remain secure and function properly. In the US, currently, there is no clear policy as to how base level funding should be used. This therefore means that in cases of need, funding meant for foreign terrorist protection could be used to solve issues related to domestic threats. While terrorist gangs have often resorted to using bombs and other violent methods, it must be appreciated that they are likely to change tactics soon or later. Instead of engaging in physical combat, terrorists may opt to target information systems and other cyber assets in an unprecedented way. This could of course have a devastating effect since most of the country’s critical infrastructure is run or controlled by computers which in most cases are networked (ITAC,

Love Poetry Essay Example | Topics and Well Written Essays - 2000 words

Love Poetry - Essay Example The children are described as â€Å"lambs / disarmed, adoring† (10-11), rightfully taking their place as the center of the family’s religion. Into this picturesque marital image is interjected a somewhat bitter and sarcastic slant through the voice of the speaker. From the first stanza forward, Rubens presents an image of marriage that is both perfection and painful through her use of symbol, tone and language choice. Throughout the poem, Rubens illustrates the man’s apparent wedded bliss as well as the speaker’s inner conflict by filling her stanzas with both pleasure and pain laced with a dose of unreality. She opens the poem by indicating â€Å"he trails burr-like fragments† (1), suggesting something sharp, unpleasant and clinging. Fragments do not satisfy and emphasize the concept that what is seen in London is not complete. The picture imagined by the speaker is necessarily missing several important elements. Thus, from the very beginning, Rubens intends the reader to understand that this is an interpretation of a relationship brought out through a glancing impression. Nothing is real or absolute but is instead an image developed in the speaker’s mind based upon ‘fragments’ that have been presented to her like burrs, which prick her painfully and refuse to let go. At the same time, however, he is accompanied to the office by a bag of â€Å"soft, yell ow apples† (3) and â€Å"a sense of being loved and laundered† (4). The alliteration used in the latter statement allows the words to flow smoothly, suggesting a blissful existence while the apples, a major symbol for the poem, remain soft and welcoming. The use of apples as a major symbol within the poem brings out another element of the negative within the positive. The man provides apples not only for his wife, their children and the children she presumably teaches (â€Å"Later she’ll carry a boxful / of apples to school† 21-22), but also is able to bring a bag of apples

Strong Interest Inventory Reflection Paper Essay

Strong Interest Inventory Reflection Paper - Essay Example hich closely reflect my personal preferences; I often seek to be efficient in my undertakings, to ensure that my results are not only accurate, but also consistent throughout. The realistic theme underscores my inclination towards routines, practicality and commonsense; I would prefer working with machines in real life situations. The enterprising theme underlines my innovative potential; I like taking risks, competing as well as influencing people. I agree with my personal style scales preferences because they accurately reflect the different ways through which I am likely to approach people, to learn, and to lead others; moreover, these scales depict exactly my interest in risk-taking and team activities. I have often been successful working both alone and in group settings and I learn best through practical situations, where I can take charge of my work, leading and participating in team activities. I honestly feel some of my personal style preferences are more important to me than others because they have a more powerful impact on my overall personality than the others. For instance, my personal style scales preferences indicate that I prefer learning by doing, and through lectures and books, which is true; however, I personally feel that learning by doing is more important to me because it often leads to great mastery in the end. Upon self-reflection into my own life right now, I would say my personal style preferences are clearly reflected in the manner in which I work, interact and even make decisions regarding virtually everything in my life. I always perform well whether I am working independently or with my peers, and I approach practical life situations as my primary sources of learning; also, I like leading by examples, taking charge of group tasks, and taking risks. I have absolute confidence in the overall results off the strong because they accurately reflect my career interests; besides precisely reflecting my career interests, these strong

In 2007, the potato chip industry in the Northwest was competitively Research Paper

In 2007, the potato chip industry in the Northwest was competitively structured and in long-run competitive equilibrium firms we - Research Paper Example The lawyers hired a firm to estimate varied long-run competitive equilibriums to ensure the successful operation of their business (Swanson, 2009). However, the adapted strategies may not be superior and appropriate. Benefits to the government, business and consumers A monopoly market occurs when a single company supplies services or products that the buyer cannot substitute. The situation mainly happens when one company supplies commodities cheaply compared to other companies. Most monopoly companies include the utilities that offer electric power, gas or water. Wonks would benefit different stakeholders especially the government, business and consumers based on its monopolistic tendencies. Initially, the company will benefit the government because monopolies act as convenient sources of revenue for the government. The government can force companies out of the market causing controversy in the marketplace. The administrators at Wonk can force the government to come up with restricti ons governing the market competition (Graham, Kaye & Rothstein, 2006). However, other companies in the market can propagate negative publicity that may serve as a barrier to Wonk. As a result, the total revenues of the industry to the government will increase Once the firm started running as a monopoly, it came up with different Long-Run Competitive Equilibriums (Graham, Kaye & Rothstein, 2006). These changes benefitted the industry’s stakeholders because they controlled the amount of goods released to the market. Additionally, the industry can control its production, supplies and selling prices to the consumers (Graham, Kaye & Rothstein, 2006). The absence of competition means that the company could increase prices to cover the cost of production. Consequently, the parties involved will draw additional revenues. The consumers will also because Wonk will stipulate prices that the consumers are willing to pay. Graham, Kaye & Rothstein (2006) indicate that the consumers will st op purchasing the products when the industry stipulates prices that the consumers are unable to pay for the goods and services. Changes in prices and output in both structures The potato chip industry restructured from the monopolistic competition strategy to strict monopoly. The competitors sell slightly heterogeneous products but compete for the same customers based on monopolistic competition (Graham, Kaye & Rothstein, 2006). This strategy presents reduced obstacles in market entry and exit. This means that the company was exposed to threats of competition and market fluctuations in the external market. The reduced market entry barriers had the potential of destabilizing the business if a more preferable competitor enters the market. Through monopolistic competition, the producers were constrained from acquiring the full market information (Graham, Kaye & Rothstein, 2006). This is because the market has inputs from other competitors that influence market fluctuations. Any new inp ut by the competitor affects the demand curve of other competitors. Consequently, the consumers must determine the price and non-price attributes of the products supplied. The competing producers must select unique traits that attract customers to their products and realize the targeted higher prices (Boyes & Melvin, 2012). Monopolistically competitive markets engage in imperfect competition by focusing on non-price competition aspects such as product

Model analysis of Perfume Extract Terrier and Baby Grenouille Essay Example for Free

Model analysis of Perfume Extract Terrier and Baby Grenouille Essay Paragraphs Synopsis: this extract reveals both the character of Terrier and reveals his response to Grenouille as a baby. Through omniscient narration, we share his feelings and physical responses to the child in his arms. His early rapture quickly turns to revulsion and this analysis will examine the ways that Suskind constructed his characters and our response. 1. The first description of the babe, smallredtwitched sweetly Our first response to the baby is almost protective, he is described as sweet and small and we can visualize a tiny innocent baby held in the arms of a protector, a man of God, a kind man with strong values. He is a normal citizen.who had taken a warm and fragrant wife This insistence upon smell links us to our emotional response throughout the extract. The act of smelling and the use of our senses conveys his response to the baby and the romantic idyllic life he was fantasizing about. 2. Terrier indulges in a fantasy, changing his role from that of a monk to a normal man, a father and protector Terriers character is constructed by what he is thinking and how he responds to the baby. Through the use of third person omniscient point of view, we see his rapturous response to this lost child, this sweet babe, who is so dependent on his protection. For a moment he is swept up into a fantasy of a real life, which in turn reveals to us his inner torment, torn between a demanding God and church rules and the normality and warmth of family life Terrier felt his heart glow with sentimental cosiness. 3. The use of language positions us in the present, as the action takes place. Through the use of baby talk we respond to his actions poohpoohpoohpeedooh.The thought of it made him feel good. Terriers clumsy yet sincere attempts to cuddle the child are revealed through language poohpoohpoohpeedooh.The thought of it made him feel good. We feel for him and his lost chances. At the same time, this glowing description of his feelings is in stark contrast to the end of the extract. It sets us up to expect a loving, positive outcome. The shock of his final response makes us resist the appeal of the so called sweet babe at the end. 4. Then the child awoke. The babe is now called a child. It has lost its innocent appeal, its dependence and cuteness is replaced by a growing sense of unease. It is described in animalistic terms, Its nose awoke firstIt sucked air in and snorted it back out | Our warm response to Terrier and the child changes slowly yet drastically from this point on. The babe is renamed the child and through language it is transformed into an inquisitive demanding animal like creatureIts nose awoke firstIt sucked air in and snorted it back out. The child is no longer a beautiful desirable babe, it is now ugly the childs dull eyes squinted into the void, the nose seemed to fix on a particular target, This makes Terrier feel like he is the intended target and begins to foreshadow his growing discomfort and disillusionment. 5. The description of the child is gross: The eyesoyster grey and creamy opal white covered with a .slimy film Instead of being sweet and red the child is now described as having The eyesoyster grey and creamy opal white covered with a .slimy film. The reader is revolted by the physical description. We can perceive a picture of an ugly, blinded mole like child, who squints, sniffs and targets Terrier. The reader can share in his appalled response as the child awakens and behaves in a rodent like manner. Thereby destroying his fantasy and making his protection unnecessary and indeed threatening his spiritual and psychological well being. 6. The use of language is fairly modern yet set in an 18th C setting. Suskind uses modern expressions and language to create the character of Grenouille. An example of this is poohpoohpoohpeedooh, and the almost scientific description of : The eyesoyster grey and creamy opal white covered with a .slimy film which create an immediacy and a sensory perception of the child. 7. The nose seemed to fix on a particular targethe himselfwas that target. Terriers growing sense of unease foreshadows his rejection of the child as he thinks, The nose seemed to fix on a particular targethe himselfwas that target. This ominous description of Terriers growing panic makes us feel extremely uncomfortable. He appears to be an ignorant man, we are modern readers, yet Suskind has managed through the use of sensory images to make us feel uncomfortable and to empathise with Terrier. 8. Irony as tiny is juxtaposed with fear The description of the childs nose, waking, seeking, targeting is both similar to the unfolding of a carnivorous flower and a predator. Ironically, the juxtaposition of the use of Tiny with fear adds to our growing sense of horror and revulsion. Tiny wings of fleshtiny holes in the childs facecreate an eerie suctionthe child saw him with its nostrils this use of description as the child wakes up, coupled with Terriers imaginative response positions the reader to understand his response and to share his opinion of the seemingly innocent child/monster in his arms. 9. Metaphor carnivore and death As the childs face is compared metaphorically with a carnivorous plant similar to a Venus fly trap, we see how Suskind has objectified Grenouille. He is an it, not a person, an anonymous being, semi human, semi animal. A predator who is seeking to cling to Terrier like an incubus, to devour him. His panic stricken response is a natural response to danger. Through punctuation we can see his fear smelling at him shamelessly, that was it! the use of exclamation marks emphasizes his fear and anger. His changing tone foreshadows his rejection. Through the use of language Terrier creates an image of the child as the Other an alien, threatening to his dogmatic view of normality and romance view of the role that children should play in the world. 10. metaphor death Terrier becomes convinced that the child is going to kill him, Using its nose to devour something wholeIt was establishing his scent! At this stage, I felt that Terrier was exaggerating, yet the repetition of his imaginative response grew on me and I felt a sense of revulsion towards this child also. Grenouille appears to be hunting the man who out of the goodness of his heart saved him. From this moment, our response to him becomes negative, wary, revolted by his physical description regardless of the illogic of it all. 12 Like a rape Terriers response becomes similar to that of a rape, an intensive personal invasion which cannot be avoided, His most tender emotions, his filthiest thoughts lay exposed. He can no longer accept that this is an innocent child. He feels invaded, tainted by corruption and victimized, all by this child. 13. Structure Terrier no longer felt safe, Gone was the homey thought that this be his own flesh and bloodidyll of father and son and fragrant mother. He regarded the babe/child/it as a creature a non human being A threat to his spiritual and physical wellbeing A strange, cold creature lay there on his knees, a hostile animal he would have hurled it like a spider from him. Terriers final rejection of Grenouille was significant on many levels. This may have been the only chance of a normal upbringing or real affection lost. It creates a Gothic like fear of the unknown, the rejection of people who do not fit in or conform. There is a gap between the values of the church dogma and the rights of the individual as this child is not a person, it becomes a monster in the eyes of the monk. The reader is encouraged to support Terriers decision to reject the child, yet with the advantage of a modern upbringing, it seems inhuman to totally abandon an innocent child regardless of how strange they look or behave. At this stage the beginning is juxtaposed with the ending. The idyllic father/son image is destroyed and a spider/rodent like child has emerged from the cocoon of our literary expectations. Conclusion Suskinds text introduces both characters, themes and conflicts. We see the emergence and transformation of Grenouilles character, like a butterfly he is transformed from a baby to a spider. Our response changes from empathy to horror. His eventual fate is set by this earlier abandonment on so many levels.

UK Higher Education: A Shift to the Alternative Providers

UK Higher Education: A Shift to the Alternative Providers For more than two hundred years now (1800s 2015), educational landscape has been constantly changing and continues to change into the future. Private institutions such as London School of Management Education (LSME) are riding with the wave of change to meet the demands of technological economy in the UK, Europe and the rest of the world. Higher education has evolved considerably in the United Kingdom since the 1800. The enactment of Further and Higher Education act 1992 gave way to the Fair access and Widening Participation (Office for Fair access (OFFA) of the disadvantaged groups to participate in higher education which was the privilege of few. It all began in the 19th century with a Royal (university) Charter which removed the divide between the universities, the polytechnics and the Scottish central Institutions. The reform in the 1960s bridged the gap between the ancient universities and redbrick universities. The reforms over the years have been to meet the growing demand for education and to meet the demands of ever changing technological economy. Private education such as LSME has been at every corner of educational reform. In the United Kingdom, education is valued highly and this began in the city of Oxford in 1096, followed by the establishment of Cambridge University in 1209. All parts of the United Kingdom experienced growth in educational demand. By 15th century, there was rise in the establishment of higher education in Scotland with the establishment of St. Andrews, Glasgow University, Aberdeen University, and the Edinburgh University, established by the Royal Charter in 1583. The emergence of Redbrick universities (the amalgamation of medical, science and engineering colleges in England), especially in the late 19th and 20th century saw the establishments and merger of institutions in almost all cities of England and Wales. 1956 saw the emergence of colleges of advanced technology in different cities of the United Kingdom. The advancement of education to meet the growing demands for technological economy enabled to government of United Kingdom to award university status to most of the city colleges in 1966. Some of these universities include Aston, Brunel and surrey, to mention but a few. These higher educational developments continued expansion till 1992, though with little consideration to ever-growing divide of equality in the UK. The widening gap, inequality and the income disparity of the British people resulted to the underprivileged to miss out on higher education. To meet the demands as mentioned above, the Further and Higher Education Act 1992 wa s pass by the act of parliament. This Act provided room for the Office of Fair Access (OFFA) to accommodate the underprivileged peoples of United Kingdom. According to the British Council Institute, by the enactment of Further and Higher Education Act 1992, thirty five (35) former polytechnics and further and higher institutions gained university status. From 2001 to 2013, thirty one (31) universities were created. There were one hundred and sixty six (166) institutions in the UK with Degree Awarding Powers. By 2011, there was an expansion of institutions both community and private. It is estimated by the British Council Institute that by 2011, there was establishment of one thousand six hundred (1,600) institutions, including two hundred and fifty (250) other further education colleges and the alternative (private) providers of higher education. In this expansion, London School of Management Education (LSME) is one of them. The alternative providers, known as private colleges offered opportunities for peoples of disadvantaged background to gain access into higher education. The increasing number of private colleges was not enough to c reate opportunities for the underprivileged groups due to the high cost of education in the. The 2010 reform of higher education system by the government offered the opportunity for students of alternative (private) Higher Education providers to gain access to the student loan through the Student Loans Company. This reform provided an opportunity for the underprivileged peoples of England and Wales to access tuition fee through student loan of up six thousand ( £6,000) pounds per year. Colleges such as London School of Management Education embarked on providing Higher National Diploma (HND) through Pearson BTEC. Higher National Diploma is a work-related vocational higher education qualification that enables holders to be employable at the job market. The design and delivery of HND is focused on the skills required by UK employers to meet all the skill shortages in the economy of the United Kingdom. The Further and Higher Education Act 1992 and the 2010 Higher Education Reform enabled 3.2% increase in full time higher education by the underprivileged, the underrepresented and the youth. By 2012-13 academic year, there was a decrease of part time education by 10.8%. Between 2010-11 and 2013-14, there was a 27% increase in UK and EU domiciled undergraduate entrants. It is noteworthy that during this period there was a decrease of 55% of demand for university education. It is important to know that there was an explosion of demand for higher education through the alternative providers such as London School of Management Education (LSME). Between the quoted period as above, there was an increase of 259% demand for higher education with the alternative providers such as LSME. This is as a result of removing the barriers to education for the benefits of the underprivileged and the good working practice of the private colleges, who centred the design and delivery of higher education on their students. Most of these students have been out of school for many years and cannot cope with the university style of education which is not person-centred. The private colleges, like what is obtainable at London School of Management Education focused the design and delivery of their programme with students involvement. The college understands the need of their students, knowing fully well that student-provider relationship is vital. It provides a conducive environment for learning. Learning is not all about reading books and presenting lecture slides to students, it includes mental development and empathy. At London School of Management Education, there is partnership with employers to enable students engagement for work experience. It is important to note that most of the underprivileged were black and ethnic minority groups. It is estimated by the UK National Student Survey that from 2007 to 2013 academic year, there was an increase demand for higher education of 74% (13,792) Blacks, 34% (11,584) Asians, 54% (7,860) mixed and other ethnic background, and 18% (50,000) white. This increase of student number which was enabled by the Further and Higher Education Act 1992, and the 2010 Higher education Reform offered opportunities for alternative providers of higher education to compete for students in the education industry. London School of Management Education chose to offer HND in Business and Health and Social Care through Pearson BTEC. As demand for teachers grow, and also to offer opportunities to the disadvantaged groups, LSME offers Diploma in Education and Teaching (DET). This educational reform offered opportunities for ethnic minorities to be employable in education industry. The NSS report shows that students are happy. London School of Management Education works hard in meeting all the quality assurance framework as set by Quality Assurance Agency (QAA) and the stringent scrutiny of Higher Education Funding Council for England (HEFCE). To meet the complaint system, London School of Management Education complies with all the rules and regulations of The Office of the Independent Adjudicator (OIA) to ensure that students complaints are investigated and resolved to their satisfaction. This is to ensure that students receive value for money of their investment in education. LSME also complies with the authorities of Higher Education Statistics Agency (HESA) to supply details of students who have graduated from their college after one year. London School of Management Education is a fast growing college that thrives on student satisfaction. It is subsc ribed to the rules and regulations of Competition and Market Authority (CMA). The new Fit for Purpose Regulatory Framework for the Higher Education Sector 2012 protects students interest, promotes diversity and choice, and supports high quality provision. There is huge opportunity in the education industry for alternative providers such as London School of Management Education to share in the  £30billion industry. It was revealed by the British Council Institute that universities and colleges received the sum of  £29.1 billion in the 2012-13 academic year. The reform in education is focused on partnership with employers to tailor courses to meet the growing sophistication of the technological world and the demand for quality. This enables the universities and colleges to form partnership with the Professional and Statutory Regulation Bodies (PSRBs) to share ideas and experiences, and to discuss areas of mutual interest with QAA for sharing good practice for the development of UK s economy and professionalism. For the development of good practice and quality delivery of higher education, London School of Management Education complies with all the requirements of the governing bodies in education industry. This approach has earned it recognition with the industry which led to the good turnouts of dignitaries from all walks of life for their Convocation Ceremony on the 6th of October 2016.