Fair Value Accounting (FVA) in Barclays Bank Plc

Fair Value score (FVA) in Barclays rim PlcBefore starting Research Methods, it is vit solelyy important to assure the real meaning of Research in general.Research is a planned and methodical approach of finding arranges to the questions(R Cottrell J F McKenzie 2010)It is an organized set of actions and move which we will follow to achieve our objectives. in that respect atomic number 18 many factors in Research Method which ar always done to get the most precise results. Research is a pre-planned method, non a spontaneous approach. It is foc single- shelterd functiond and limited to a particular scope. A good question is focused on appropriate, valuable, autocratic questions and their answers. If in that respect are no questions, there is no point of doing enquiry and similarly finding answers to those questions is the most important. Whether its an answer to a hypothesis or unconstipated a simple question. A good research is ineffective unless(prenominal) we find the answers to the questions.A good Research is a major key to complete a successful project, bill or Dissertation because if the research is not professional and well organized, then it is nearly impossible to complete a Project or Dissertation.TYPES OF RESEARCH METHODS-Research methods kitty be categorised into two types. They are-Deductive Research and Inductive Research. In research methods, conclusions are found on these two methods. Both are widely used in research projects.DEDUCTIVE METHOD-Deduction follows an approach which is top- spile or from general to specific. Aristotle a Greek philosopher described deduction as Drawing conclusions by applying rules or principles logically moving from a general rule or principle to a specific solution(www.hubpages.com/hub/Types-of-Research Dated03-05-2010)It is the procedure of getting a conclusion that is authentic to pursue, if the data given is factual and the analysis used to achieve the conclusion is right. In deductive method, the grounds (facts) give an assurance of 100% accurate conclusion.EXAMPLE OF DEDUCTIVE METHOD-There are 15 packs of cigarettes on the top-shelf of the cigarette expression,There are 7 packs of cigarettes on the lower-shelf of the cigarette case.There are no cigarettes anywhere on the middle-shelf cigarette caseFrom the above, it digest be concluded that there are 22 packs of cigarettes in the cigarette case.INDUCTIVE METHODInduction method is from precise to general. In induction, we scrutinize some events, deduct a specimen and draw conclusion.This method involves moving from an exact condition to a common conclusion. This method is undefined and investigative. It does not give 100% assurance of reality solely a chance of being accurate.EXAMPLE OF INDUCTION METHOD-This coffee is hot. (Specific, based on a direct musing.)All coffees are hot. (General, can be applied to any ice)OBJECTIVES OF RESEARCH METHODSThe key objectives of this research are-To Critically Analyze the Role of Fair Value account statement (FVA) in Barclays pious platitude Plc. Norbury Branch, working capital of the United Kingdom and what are its effects on Barclays Bank Plc. before, during and after Credit Crunch?To Investigate whether the systematic take a chance is associated with the monetary crises of Barclays Bank Plc. or not?To highlighting the impact of mart to mart reporting in contri neverthelessing fiscal difficulties for Barclays Bank Plc.To Find out the contagion of Barclays Bank Plc with Recommendations Conclusion.KEY LITERATURE round-An efficient entrusting system is an indicator of sustainable economy (Imola 2006). Banks perform fundamental roles not completely in pecuniary system of a country but also globally due to their nature of business performance and corresponding assets policy. Banks play the role of financial intermediaries in an economy (Imola 2006)FAIR VALUE storyDEFINITION pecuniary Accounting Standards define Fair Value Accounting as The dama ge that would be received to sell an asset or paying to transfer a liability in an orderly transaction amongst mart participants at the measurement date (Whittgton 2008)ROLE OF FAIR VALUE history AND ITS BACKGROUNDIn be, unclouded measure out is used as an estimate of the market hold dear of an asset or liability for which a market damage cannot be run acrossd. The measurement of assets and liabilities takes place at three levels. At the first level, the light value of an asset or liability is calculated at quoted prices if the market is active for that asset and liability. At second level, the monetary value of similar assets and liabilities are taken for e valuation and at last level, the market for these assets and liabilities are not purchasable, the measurement supports to use market to gravel approach for valuation of assets and liabilities (MacNamara 2009).Evaluation of assets and liabilities at Level three is con billetred to be much choreatic. This increases the manipulation risk because of non availability of market prices. ( scriber 2009) beseech that for most of the loans, the quoted prices are not available in the markets. Even if the prices for these loans are available, they do not reflect the private teaching of these loans for banks. Therefore, to determine the unclouded value of these loans, distinguishable valuation models are used (Penman 2007). Financial Accounting Standards (FAS) allows financial institutions to report their assets at level three but the opponents of (FAS) argue that it has forced banks to value troubled securities at lower prices (MacNamara 2009).Wall Street Journal claims that the reporting of assets and liabilities on Fair Value Accounting (FVA) causes financial institutions and banks to write d proclaim their mortgage backed securities (Gold, 2008). However, most of accountants, regulators and investors defend this by arguing that it pull up stakess more accurate and transparent reflection of a co mpanys plaza (MacNamara 2009). Kurt N. Schacht managing director of CFA (Institute of Chartered Financial Accountants) argues that sporting value measurement is scarcely relevant information under the prevailing circumstances (Gold 2008).ADVANTAGES AND DISADVANTAGES OF FAIR VALUE report (FVA)- many a(prenominal) Banks around the world have started revising their estimates of credit losses. Several parties blame FVA for the sub prime crisis (G.Ryan 2008). The controversy has been observed during the discussion paper on Statements of Financial Accounting Standards (SFAS 2006) that the interpretations made by Financial Accounting Standards mount (FASB) nigh upright value ignored the transaction costs and entitys specific assumptions (Whittington 2008).However, the advocators of FVA argue that FVA is not responsible for crisis. It is just a reporting and measurement system of assets and liabilities (Christian Laux 2009). Wallace (2009) suggests that the fair value accounting is not the main cause of current financial crisis. He names it as a messenger of current crisis and advocates that FVA has helped us to recognize the problem earlier oppositewise the situation would be much worse as compare to its current position (Wallace 2009).Moreover, the advocators argue that the accounting rules contradict with framework of institutions. They point out that sometime managers make deviations from market prices due to their own interests (Christian Laux 2009). Singleton (2006) argues that historical cost accounting is out of date and there is a strong possibility that management manipulate it. In modern era, the current set based reporting (e.g. market based) are more relevant and reliable. Henceforth, the supporters suggest that it is difficult to say that FVA is responsible for the current crisis (Singeton 2006). The supporters further assert that under FVA, assets and liabilities are recorded at the price, at which these assets and liabilities can be sold (Go ld 2008). Thus, FVA represents the current market condition and imparts accurate financial information of an entity. (Stephen 2006).In support of FVA, Stephen Penman (2006) mentions the spare-time activity points. Firstly, inventors are more interested in value not in cost. Secondly, in prevailing situations the historical prices are not relevant to provide up to date financial position of a business. Thirdly, the fair value is based on reality of assets and liabilities actual financial position. Further, it reflects the unbent economic substance. Finally, as markets are efficient, they are not influenced by a single securely or business. Therefore, the information based on market prices is more relevant (Stephen 2006). Finnegan (2009) concludes that FVA is desirable to apply in both periods e.g. when market prices are available as well as when markets are inactive and market prices are not available (I.Victor 2009).However, the opponent asserts that FVA is unlike and misleadi ng especially for those assets and liabilities which are held for long term (held to maturity).They further argue firstly, as efficient market hypothesis theory does not always true in real life. It fails in some situations. Therefore, in the situation of inefficient market FVA provides wrong information to investors and creates liquidity problems. Secondly, FVA measurement model are not reliable and finally, FVA contributes pro cyclicality in the financial system (Mary E. Barth 1995).In spite of all criticism, The FASB IASB believe that fair value measurement of financial assets is more relevant in producing useful financial position of firm as compare to historical cost based measurements. They argue that fair value shows the current cash equivalent of the businesss financial instruments rather than the price of acquisition of financial instruments (Benston 2008). Further, supporting FVA, the former chairman of SEC Mr. Breeden, suggests that all financial institutions like banks as well as publicly held companies should report their financial position on market based because market based information are most relevant to financial attributes (Mary E. Barth 1995).Allen and Carletti (2008) assert that banks may become insolvent with the effect of market to market prices. The valuation based on market prices creates instability in market prices that affect the value of banking assets and this leads to ruin banking portfolio and contagion (Mahan, 2009). However, the advocators of FVA assert that it has provided early warning of current crisis and asked banks to take corrective actions (Wallance 2009). Mahan (2009) points out that the fair value is not a single reason of the current crisis the other factors, for example, inadequate risk management, poor lending exigencys, the assessment of rating agencies and insufficient capital requirements are also contributors of these crisis.Mahan (2009) claims that the banking regulation, especially the capital requirement is also one of major reason in failure of banks. However, the logic behind the capital requirement of regulators and central bank is the same as the secured loans issue by banks to creditors to protect market from financial distress and keep insurance of market discipline.Recently, the London based International Accounting Standards Board (IASB) declared that they are going to change the market to market rule and will follows the United States Standard. Recently, the US companies are reporting their assets under level three categories (Morgan 2009).BARCLAYs BANK PLC. CONCERN ABOUT FAIR VALUE ACCOUNTING (FVA) DURING FINANCIAL CRISIS-Barclays explain the following reasons for rejection of FVA during financial crises.Firstly, they argue the FVA is irrelevant for investors. It does not communicate the rationality (Christian Laux 2009). Critics of FVA have accused it of pouring fuel on the fire rather than simply measuring the flame (Morley 2008). Secondly, it is not sufficient for ban king industry and finally, they verbalize fair value is inappropriate for those assets which are held for long term (i.e. held to maturity) and the assets which have no active market (i.e. for illiquid assets).In the mid of 2008, when the crisis reached at its maximum point, the bank started blaming FVA and their main focus of criticism was the valuation of liquid assets. Barclays argue that FVA has played an effective role in creating these crises.On the other side of the coin, (Ball 2000) (Leuz 2003) suggested that investors, and other interested groups e.g. Accountants and customers have opposite opinion. These interested groups are against the suspension of FVA standards. For example, during November 2008, the joint letter to SEC the Consumer Federation of America, Centre for Audit Quality, Council of Institutional Investors, investing Management Association, and CFA Institute assert that investors are more confident on the standards (i.e. FVA) which are more transparent and report current and relevant information for valuation of financial instruments regardless of the direction of markets (Christian Laux 2009).Nicolas (2008) argues that the illiquidity criticism spots light at the market conditions for many financial instruments. These instruments were imbalanced from August 2007 and were not reporting the true prices in markets on the basis of demand and supply principle. Most of prices did not reflect the potential to generate the future cash flows associated with an assets or investment. Nicolas (2008) further argues that fair value compelled Barclays Bank Plc. to record assets and liabilities on the value which is unjustified by economic conditions. Resultantly, Barclays Bank Plc. was forced to raise new capital under grim valuation conditions to meet the legal solvency requirements which resulted in reduction in the equity value of existing shareholders.The pro-cyclicality criticism of fair value is based on the thinker that when there is boost in market prices it apparently strengths the balance sheet of Barclays Bank. However, in the time of reduction in market prices, it damages the economic position of the bank more severely (Amola 2006). Futher, Nicolas ( 2008) argues that as the studies support that markets do not work efficiently during the time of crisis when every participant is in the condition of uncertainness and market information are disordered. Therefore, the accounting standards which rely on markets information, damages the decision of its users. Additionally, he argues that criticism of pro-cyclicality of FVA is not only when markets are inactive for securities but also in the normal conditions of economy (Nicolas 2008).Regardless of criticism of FVA, Wallace (2009) suggests that elimination of fair value standards is not solution to the problem. The disposal should focus on stabilizing the financial markets, rebuilding investors confidence by promoting liquidity conditions in markets and improving reg ulations (Wallace 2009).Barclays Bank can overcome the shortcomings of historical cost accounting. Reporting at FVA standards, the bank can record their financial instruments including loans at fair value (market based price). Buckland (2005) also argues that for the purpose of monitoring and supervision, the supporters of FVA consider it more reliable source of information.EMPIRICAL LITERATURE REVIEW RESEARCH OBJECTIVES-During existing literature review, I observed that mostly, the underlying subject has been discussed working papers, reports, conferences and general argumentations.The following literatures give the guidelines to understand the issues related to financial crisis, general risk and FVA standards. I went through the following literature to understand my topic of research.Magnan (2009) provides general overview of FVA on financial statements. He briefly explains the origins of FVA, its applications and role in the financial crisis. He believes that FVA has contribute d in acceleration of financial crisis especially in banks and financial institutions (Magnon 2009).Magnan (2009) explains, how fair value has contributed and created financial crisis? He describes that at the start of 2007, some of the financial institutions (including Barclays Plc.) assets and liabilities drop in value and this drop in value forced these institutions to report assets and liabilities lower at their balance sheets. This reporting at lower value negatively affected their capital adequacy ratios (Magnan 2009)Morley (2008) discusses the role of accounting standard setters and their comments about the FVA. Further, spotting light at the problems of FVA they argue that the sharp fall in market values of many financial instruments adversely affect the market price of these instruments. Additionally, they point out the challenges IASB is facing after the recent financial crisis. They state that the political threat to IASBs independence and credibility is continuously growi ng. Moreover, the headlines such as, Banks accounting gets murkier (Wall Street Journal, November, 11, 2008). The third quarter reports of banks provide evidence that banks accounting system get murkier e.g. The Royal Bank of Scotland is said to have avoided booking 1.4 one million million of losses as a result of the rule change, and Deutsche Bank, Lloyds TSB and HSBC collectively are said to have avoided booking losses of 1.5 billion (Morley 2008).SYSTEMATIC RISK-DEFINITION-The banking regulations were introduced in the system to avoid systemic risk in the sector (Allen 1995). The regulators of prudential law are fully aware of the danger that systemic risk can produce in the banking sector. Systemic risk is the risk that can breakdown an entire system (Acharya 2002). Kaufman (2003) founded that there is high correlation between systemic risk and failure of banking system in a country, a number of countries or throughout the world. Sohnke. M (2005) defines systemic risk as The r isk of a failure of the global banking system resulting from a failure of the global inter-bank payment system (Sohnke M 2005).SYSTEMATIC RISK BANKING SYSTEM-In the case of the banking industry, all banks are connecting to each other due to inter-banking transactions (Sohnke M 2005). They have common deposits, loans, payment systems and other different indirect services to other financial institutions. Inter-banking system works within a country as well as across countries. Therefore, the adverse shock that effects on a bank in a system damages the entire system. Thus, the insolvency of one bank transforms the insolvencies of other banks in the system. The theory and evidence advocate that the danger of infectious systemic risk in the banking industry is faster and stronger as compare to any other industry (Kaufman Scott, 2003).Additionally, Kaufman (2003) suggests that the initial failure of a bank starts tapdance on reaction in the system. However, at the start of this shock, the other banks do not expect its transmission to them. Kaufman (2003) explains that if a bank has smaller capital to assets ratio, this factor that the bank is highly leveraged. Therefore, this set of banks transfer their insolvency to other banks in a system (Khan 2009). Moreover, Kaufman (2003) suggests that in banks, the downward trend in the credit market affects the shade of private and public information. This information also increases the uncertainty in the credit market and badly affects these market conditions. In such situations of uncertainty no participant wants to take risks. Therefore, investors quickly transfer their funds to a safer place (Kaufman Scott 2003).Cifuentes, Ferrucci, and Shin (2005) argue that when assets and liabilities are reported on market to market basis and there are also external solvency requirements (e.g. prudential regulation), these situations lead to increase of risk in the financial system. They further argue that when the prices of ass ets are falling, these assets disrupt the solvency ratio of firms. prudent regulations in banking system demand banks to maintain capital reserves for their solvency in estimation of risk associated with institutions (Khan 2009). Plantin (2008) has observed that banks sell their assets when prices of assets were falling and purchased assets when prices were rising. Such acts of banks increased the excitableness in market prices which increased the luck of rise in the systemic risk in banking sector.MARKET TO MARKET REPORTING FAIR VALUE ACCOUNTING-Plannutin (2008) suggest that when markets are inactive, FVA becomes more inefficient as compare to historical based accounting (Plannutin G 2008). As market to market accounting increases the probability of pro-cyclical trades that creates the illiquidity situation in markets. The logic behind is that when the market is illiquid for particular assets as compare to other assets which have active market, the sale of assets adversely affec ts the price of assets and firm for whom there is no seller or buyer ( Khan 2008). Therefore, it can be argued that under the FVA reporting (which is based on market to market), prices of assets and liabilities further crash prices of assets and liabilities for which no markets exist.Further, in such situations of uncertainty, the management of these firms sell these assets at lower prices. In reaction to this, pro-cyclical trades starts which increase the overall risk especially in the banking sector. Therefore, we can understand that during the recent financial crisis, how the FVA is associated with the systemic risk of banking system? As the market for banking assets became illiquid during the financial crisis and sale of assets of other firms increased pressure on banks management to sell their asset at lower prices (Pollock A 2008).JUSTIFICATION-Why I have chosen the role fair value accounting in Barclays Bank Plc.?Being a student of MBA Banking and finance, this topic will gi ve me a unique opportunity to cover both palm of my MBA in one research i.e Banking as well as Finance. Fair value accounting will help me to learn about the finance and financial crises while FVAs role in Barclays Bank Plc. will give me a chance to understand more about UK Banking system. This topic will also provide me empirical evidence about the role of fair value accounting in Barclays Bank Plc. I have a strong desire to strengthened my career in Banking or Finance sector in future as those two fields are of my interest so definitely, this topic will be help me to achieve my future goals. It is also pertinent to mention here that three of my close friends working in Barclays Bank Plc. (two of them working in the same branch i.e.Norbury, london) which will give me an easy access to the data to complete my research methods/dissertation without any hurdles.HYPOTHESIS-To make an assumption or prognosticateion about any research is not an easy thing to do but on the basis of lite rature review, I can predict that the role of Fair Value Accounting (FVA) in Barclays Bank Plc. has a positive effect on UK Banking industry as (Nicolas 2008) argues that Fair Value Accounting compelled Banks to record assets and liabilities on the value which is unjustified by economic conditions and it has played an important role in Barclays Bank Plc. success during credit crunch. I can also predict that the systematic risk is not associated with the financial crisis of Barclays Bank Plc. and by highlighting the impact of market to market reporting in financial difficulties for Barclays Bank Plc, It is assumed that its contribution for the banking industry was vital during financial crisis.RESEARCH METHODOLOGY-Research methodology consists of two types of research. They are-Primary Research.Secondary Research. elementary RESEARCH-Primary Research is research which is used to gather statistics for a precise task. Types of primary data collection methods include-Personal Observati onThe observation of the respondent by a skilled observer or by electronic tools e.g camera, video. The aim is to observe customer response and activities to a product or consumer service.Personal InterviewsFace to face interview between an interviewer and the respondent.ADVANTAGES OF PERSONAL INTERVIEWS-In detail answers achievable.Qualitative statistics can be obtained from small sample.Observation improves precision.Understanding leads to less refusals.DISADVANTAGES OF PERSONAL INTERVIEWS-Costs qualified Interviewer expensive.Interviewer bias.Difficult to get an appointment if the interviewer is a busy person.Invasion of privacy.FINDINGS ANALYSIS-PRIMARY RESEARCH- oscilloscope OF QUALITATIVE METHOD-To collect the primary data for my qualitative analysis, harm develop questionnaires to identify answers of the research questions in the dissertation. Ill follow (B Healey 2005) approach who developed close end questionnaires with check boxes to answer these questions. Gannon (2001) asserts that amongst all the other research techniques, the questionnaires have been given high priority due to negligible cost and scope for easy evaluation they offer. Close ended questionnaires are one of the most common used tools for getting opinions ( L H Wang 2006).Further, it is an adequate way to get the opinion of experts from the relevant field of research that has good representation of practical experiences and expert knowledge. Underneath this logic, most of companies, Banks and government agencies use this method to collect information.LIMITATIONS OF QUALITATIVE METHODGannon (2001) critics that the information gathered as the results of questionnaires are limited because mostly questions ask in questionnaire allow only positive or negative response. Additionally, it is pragmatic that sometime the respondents refuse to answer certain questions or giving their answers in hazel and even sometime do not read the questions (Sproull 2001). Chambers and Pretty claim that in spite of problem with answering the questionnaires, it was considered that it is time consuming, expensive and not suitable for reaching at conclusion ( Marslan 2001) .SECONDARY RESEARCH-Secondary research is the most general research method engaged in the every field today. It involves dealing out facts figures that has already been collected by a different party. With this research, researchers will check with preliminary studies and findings such as reports, press articles and earlier market research projects in order to come to a conclusion. This has comparatively low cost in comparability toprimary research.TYPES OF SECONDARY RESEARCH-There are different types of resources offered for secondary research. The most well-known are produce statistics survey, housing and social security statisticsPublished texts abstract work, secondary analysis byexpertsand reportsMedia documentaries as a source of informationPersonal documents diariesADVANTAGES-Economical and reachable especial ly at University/College Library.Often the only source, for example historical documents Books.Only way to look at major trends.DISADVANTAGES-Lack of stability of perception.Biases and inaccuracy can not be checkedAvailable data often increase more questions than they answer.The worry over whetheranystatistics can be completely detached from the perspective of its gathering or not.FINDINGS AND ANALYSIS-SECONDARY RESEARCH-SCOPE OF QUANTITATIVE METHOD-Prior to 2004, UK firms and Barclays Bank Plc. were preparing their financial statements according to UK GAAP (Generally Accepted Accounting Principles). 2005 was the first year when International Accounting Standard Board (IASB) and UK Accounting Standard Board asked UK firms Banks including Barclays Bank Plc. to prepare and report their financial statements at IFRS. (Ormrod 2007). Additionally, Gannon and Ashwal claim that more than hundred countries worldwide use International Accounting Standards on either a compulsory or on a perm itted basis and more countries are expected to follow in the near future.(Ormrod 2007).Ill consider year 2005 when Barclays Bank Plc. adopted IFRS as start of FVA regime. Henceforth, year 2005 to date, Ill take as my sample period for quantitative testing. Ill use secondary data sources to gather information for quantitative analysis eg Barclays website, Journals, Books. Ill collect the details of assets and liabilities which are reported at fair value of different banks from the web sites of these banks and then Ill compare them with Barclays Bank Plc. This study will provide me evidence that the difference between reporting assets and liabilities at fair value and book value on investment securities explains the share prices of insurance companies and banks as (Penman 2007) described.LIMITATIONS OF QUANTITATIVE METHOD-Mirosevich (2008) argues that most of quantitative methods are based on guileless tests which produce correct results only when underlying assumptions are fulfilled . These tests produce incorrect P-values, effect sizes and confidence intervals when they violate the key assumptions to calculate P- values. Therefore, the evaluations of these results mislead the research objectivity (Mirosevich 2008). The researchers observed that the assumptions made under quantitative methods to test hypotheses are mostly not correct in real life. Many factors are to be considered immutable or assumed not affecting the dependent variables. Therefore, the results obtain from such tests are sometimes misleading the research goals (Mirosevich 2008).RECOMMENDATIONS AND CONCLUSION-The statement of costs and benefits of fair value will go on and the analyses parcel outed in this study are considered to be a new addition to literature which addresses important and complex issues of FVA in current debate of accounting usefulness.These issues require further investigative studies. The financial crisis has made clear that the financial statements organizers contract additional guidance to calculate fair values in illiquid markets. Users of these financial reports need better disclosures of financial information especially at the critical level 3 inputs. The users of financial information are interested to analyse the sensitivity of fair value measurements and its influence on the Barclays Bank Plc. Accounting standard-setters need to consider the demands of interested parties and issue guidance and disclosures accordingly. Preparers need to provide these disclosures in an informative fashion, and users must analyze them carefully and dispassionately. Additionally, accounting researchers and teachers can contribute to all of these processes. Indeed, for all of us who care about accounting and its role in the economy, there is much work need to be done (G.Ryan 2008).Further, I believe that more time and research is required to determine reality that whether FVA has played its role in failure of Barclays Bank Plc. or not? To understand the role of FVA seems vital for future developments and implementations of accounting standards in Barclays Bank Plc. Additionally, future studies of FVA will give new shape and directions to financial reporting framework. I hope that over next few years, most likely the conduct of lot of empirical studies will give us a distinct answer to the question about the role of FVA in Barclays Bank Plc. during financial crisis.The debate of FVA mainly revolves around the issues cost and benefit of reporting assets and liabilities at fair value and its role during financial crisis. The researchers such as Penman (2007) Simatupang

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Learning Through GamesLearning through GamesE genuinely p arent and t severallyer out(p) there chiffonier attest to the fact that no matter how smart a child is ragting them to study is quite a difficult task, merely beca custom of all the distractions out there. So why not take one major distraction video crippleds and put it to good use? on that point are so numerous good educational tools available many of them cleverly disguised as games. The kids and some adults too testament put down captivated by the storyline and goldbrick tons a wide the substance. Here are a few of the best ones covering topics like Physics, Engineering, Art and English. lusus naturae honorary society mathsOgre Academy Math is an educational game created to enhance the introductory math skills in children. 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This is long nice and short enough so that no one gets bored, and those with sketchy internet connections dont have to forfeit midway. You can play as many categories as you like and the more you play the higher your skill level in that category goes.QuizUp is fantastic for learning time management and ecumenical knowledge. Sometimes questions repeat which helps you commit them to memory. Children can opt for challenging categories such as Math and English and then take a break and do a fun quiz like a Harry Potter themed one. It is also very exciting because you are playing with real people sooner than just a computer interface.Qu iz up is not only informative but also highly addictive. Kids can spend hours playing and come away with lots of new trivia facts learned and math skills mastered.Platform Android, iOSSpoilt for choice with Quiz UpGoogle Art objectThe Google Art Project is a collection of over 30000 works of art from collections all over the world. From Impressionist Artworks at the Art Institute of Chicago to modern artwork from the Tate at London, the Google Art Project amasses all periods of art. The high re firmness of purpose images allow kids to get closer to the images and examine every detail. Each museum has nominated one piece as a Gigapixel Artwork which means that Google has captured it using gigapixel photo capturing technology. It produces an image containing 7 billion pixels, so viewers can view the piece in microscopic detail. Be advised, kids could see violence or nudity in these pictures so it is necessary for guidance of some sort while perusing.Browsing the artwork can be done either on the webpage or by browsing through the museum in the form of a map. Some international museums that are include in the project are The National Gallery in London, The Met in New York, the Uffizi in Florence and The Hermitage in St Petersburg.Such a vast collection tycoon be daunting at first but kids will soon enjoy exploring the museums from all over the world.It forms a kind of virtual meta-museum with many thoughtfully designed features by Google as always. The FAQ section has a video Visitors Guide for first time users and the site can be translated in to as many as 19 languages. There are lessons, quizzes and project ideas. Users can create their own collections and share them with friends.The Google Art Project allows children interested in art to take their first steps in art appreciation and history. They can explore museums at their own pace, stop and ask questions, compare works from museums across the world and develop their creative abilities.Platform PCGoogle Art Project being of GooWorld of Goo is a game kids will take an instant interest in simply because of the name. The game revolves around building large structures using balls of goo. The game is divided into multiple chapters each containing some(prenominal) levels. Levels come with their individual music and graphic theme keeping things interesting.To play the game the little balls of goo provided to you have to be stretched out into structures forming ladders, bridges or buildings toward strategically positioned pipes. These pipes then suck the goo and take it to the World of Goo Corporation where it is made into various products. These structures have to be built well enough to overcome gravity and some physical terrain difficulties like hills, cliffs, spikes and windmills. Different goo balls have different properties that make them unique.There is also a bonus meta-game called the World of Goo Corporation where the challenge is to build the highest Goo Tower. The game subtly draws parallels between the World of Goo Corporation and real world companies that make exchangeable products in an attempt to get kids thinking on modern world consumerism.Teachers can use World of Goo as a fun way of explaining geometry. There is an open sandbox mode in which teachers can set challenges and competitions.Platforms PC, iOS, Android, WiiWare, BlackBerry, OnLiveGet creative at the World of GooSpaceChemSpaceChem is a puzzle game based on the principles of chemistry and chemical bonding. In the game you play the role of a Reactor Engineer working for a company called SpaceChem. As a Reactor Engineer you have to create circuits through which atoms and molecules flow. You do this with the help of waldos which are remote manipulators. While you dont have to have any prior chemistry knowledge to play the game, all the reactions and chemical constructions are based on real chemical and atomic science so you will definitely learn something each time you play.Each level prov ides you with elements that need to be assembled and disassembled to create new chemical molecules. There are pairs of circuits along which your elements need to travel to the target output areas. Unnecessary collision of the waldos must be prevented.Initially the puzzle consists of only a single reactor but in larger puzzles the player can guide the chemicals through multiple reactors to get the final product.SpaceChem is a mental workout and an excellent puzzle game. It forces you to nip at the bigger picture and get multiple tasks working at once.Platforms PC, Android, iOSCreate new elements with Space ChemFantastic ContraptionFantastic Contraption is a Flash based game played in a web browser. The object of each level is to move the red objects into a rectangular wrought goal area. You are given different materials and a blue building area to help you build your fantastic contraption. You must be able to move the red objects past certain obstacles into the goal area.It takes a while to get used to the game but there is a very helpful tutorial at the beginning that smoothens out the process. There is no one correct solution. Each player can come up with his or her unique solution to the level. By creating an account the developers allow you to design your own levels or share your solutions with others.There are over 40 different built in puzzles and 16000 downloadable ones. You can play for free on the Fantastic Contraptions website or download the app for $1.99. All you need is an active imagination and some basic problem solving skills.There was a Fantastic Contraptions 2 released in 2010.Platforms PC, iOSBuild fun things with Fantastic ContraptionMinecraftMinecraft is a computer, tablet and Xbox video game that has been around for ages and is still very popular by both educators and hard core gamers. It allows you to build your own world from scratch. Gameplay is mostly building and destroying structures using blocks 3D cubes. There are different kind s of materials to be put to use like various ores, stone, dirt, water, tree trunks. Some of these materials have to be mined others are freely available.The game has three modes survival, educational and adventure. You can play at different difficulty modes with or without the hostile creatures that threaten your creations.Minecraft has numerous educational benefits. It teaches about various subjects with or without parent/teacher involvement.While playing Minecraft players have to figure out how to best use their resources. For example for paper you require 3 units of sugarcane. This way the game also improves basic math and manipulation skills. Minecraft only uses cubes to build structures. But these structures take on different geometrical shapes like cuboids, tesseracts, square based pyramids. In this way kids get a quick lesson in 3D geometry. Setting up circuits teaches kids the basics of logic circuits. Feed back is immediate and safe. You can build switches without electroc uting yourself. You can even construct weapons to guard against attacks.By contributing to the Minecraft wiki children can learn how to pen informative articles for multimedia. Most of all Minecraft promotes out of the box thinking and will give children the freedom to express themselves creatively.Setting up a server allows parents to give their children a safe environment to develop social skills and teamwork.Platforms PC, iOS, Android, Xbox, PlaystationBuild 3D cities with MinecraftNASAs Space straddleNASAs Space Place is a website developed by NASA in 1998 and is complete with interactive games, projects and facts about Earth and Space. The collection of games offered is decomposable and interesting each teaching you something new. The games each offer a new topic to be learnt like for example how a black hole works.The activities have detailed information on the solar system and other science topics. Kids can freely ask questions and get audio responses in return. There are instructions for at-home experiments.Space Place Prime is a spin off from NASAs Space Place. This contains most of the educational content like articles and imagery as well as educational movies.The Space Place program has also released several mobile games mostly for iOS. These include Comet Quest and Satellite Insight. Comet Quest is a game about the Rosetta Mission. You are given a spacecraft and learn how scientists use Rosetta to explore comets. Satellite Insight has a more complex stage setting story. You have to save the GOES-R satellite from losing any of the data it is collecting by safe guarding the data grid.Platorm PC (web) Apps available on Android and iOSThe Specatular Space Place by NASAScribblenautsScribblenauts is an action and puzzle video game. The objective of the game is to help the games hero, Maxwell collect little yellow stars called Starites. The player can summon anything just by writing its name on the screen.Scribble nauts is an example of Emergent Gamep lay which means that the difficulty changes according to the choices you make in the game. You can have infinite gaming experiences with this dynamic methodology. Kids are at their creative best using logic, language and problem solving. The tasks can be as simply as collecting a Starite from a tree or difficult like rescuing it from a bunch of bears in the forest.All you have to do is write out the tools you need. For example to get the Starite out of the tree, write the word rope and a rope will appear. You can write the craziest things you can think of. If you think a dinosaur is going to help you write dinosaur and the game will present you with one. Its almost like magic. Summoned objects can be weapons, animals, forces of nature or even famous people.This is because the Scribblenauts Dictionary contains over 22,000 words. As you play more your imagination grows and the solutions get more and more inventive. There are 220 levels over 10 areas each of a different theme.Scribblen auts has won two Parents pick Awards and is suitable for children ages 8 and above. Scibblenauts Remix is available for iOS.Platforms Nintendo DSScribblenauts- Let your imagination go looseThe Professor Layton SeriesThe Professor Layton Series consists of 6 puzzle games plus a film. It is built around the adventures of two characters Professor Layton and Luke Trinton and is based in modern-day London. Each game is a series of puzzles and mysteries in towns Professor Layton and Luke visit. As part of the game you go along with them on their eventful journeys and help them solve mysteries.The puzzle solving teaches math, logic, spatial orientation and math. The storyline keeps kids thoroughly entertained and engrossed. It is aimed at kids eleven years and above.The games are divided into two trilogies. One set tells you of the Professor and Trintons many adventures together. The other is more about how they met and began their journey.The third part of the series, Professor Layton and the Unwound Future won a Parents Choice Silver Honors Award from the Parents Choice Foundation.Join Prof. Layton and Trinton on their captivating adventures

Edna’s Symbolic Swim in The Awakening :: Chopin Awakening

Ednas Symbolic Swim in The AwakeningReading by dint of The Awakening for the first time, a passage in chapter X intrigued me Ednas first successful swim. I begin my close reading halfway through page 49, But that night she was like the little tottering, stumbling, clutching child, who of a sudden realizes its powers, and walks for the first time alone, boldly and with over-confidence. Her success is sudden and in spite of service from the men and women in some instances from the children throughout the summer. Robert himself had devised a system of lessons. But her triumph does not result from any such assistance, but from her own abilities. By comparing the experience to a childs first steps, it conjures imagery she herself must have experienced with her own children, which is emphasized by referring to the child quite an than a child. Before her triumph, she totters, stumbles, and literally clutches at any hand nearby that might reach out and reassure her, always requiring the assistance or reassurance of others. But on this night, her powers, which by virtue of the strength of such a word choice suggests its relevance to far more than swimming, overtake her. It is significant she does it alone, and her over-confidence perchance foreshadows the final stage. A feeling of exultation overtook her, as if some power of significant import had been given her to control the working of her trunk and her soul implies the tremendous rejoice that encourages her to shout, as well as underscores the significance of the experience in terms of the greater awakening, for the experience actually does provide Edna with the ability to control her own body and soul for the first time. Her daring and reckless behavior, her overestimation of strength, and the desire to swim far out, where no woman had swum before all suggest the tragic conclusion that awaits Edna. Whether her awakening leads her to want too much, or her desires are not fully compatible with the society in w hich she lives, she goes too far in her awakening. Amazed at the ease of her new power, she specifically does not join the other groups of people in the water, but rather goes off to swim alone. Indeed, her own awakening eventually ends up being solitary, particularly in her refusals to join in social expectations. Here, the water presents her with space and solitude, with the unlimited in which to lose herself.

Ethan Frome: List of Quotes explained Essay -- essays research papers

1. ?Guess he?s been in Starkfield too many winters? This quote was shew on page 13, in the introduction when Harmon Gow is explaining to the narrator who Ethan Frome is.When Harmon states that Ethan has been in the town of Starkfield too many winters leads to the narrator finding out that Starkfield and the town members become emotionally buried low the snow covered blanket of Starkfield?s winters. Winter in Starkfield is depressing and cold and it seems to rub off on the residents of the town. People of the town say he is cold and depressing, simply because he has been in Starkfield too many winters.2.?But it was not only that the coming to his house of a objet dart of hopeful young life was like the lighting of a fire on a cold hearth.?This quote is found on page 33, in chapter one, which is explaining the entrance of Mattie Silver into the Frome home to assist the Fromes with house work because of Zeena?s sickness.This quote is explaining the feeling of Ethan when Mattie Silver comes into his home. Ethan was gloomy and pretty much sick of his married woman and when Mattie comes to his house she brings hope and a whole new outlook on life to Ethan. Ethan feels that she is warm person and a polar opposite compared to Zeena. Her coming transforms Ethan?s cold and depressing existence.3.?Against the dark background of the kitchen she stood up tall and angular, one hand drawing a quilted counterpane to her flat breast, while the early(a) held a lamp. The light on a level with her chin, drew out of the darkness her puckered throat and the projecting wrist of the hand that clutched the quilt, and deepened fantastically the hollows and prominences of her high-boned face under its rings of crimping-pins. To Ethan, s... ...e way they are now, I don?t see?s there?s much difference between the Fromes up at the farm and the Fromes down in the graveyard, ?cept that down there they?re quiet, and the women have got to hold their tongues.?This quote is also found on page 140, in chapter 9, whitewash while Mrs. Hale is telling the narrator about the Fromes.Mrs. Hale tells the narrator that if Mattie had dies, Ethan may have lived, but as things are, his existence is a kind of a living death. In addition, in chapter two, he had asked his dead ancestors, at their graves, to help him keep Mattie with him. We find that his natural ally is death and life is his enemy. Mrs. Hale believes that Mattie? endure the accident is literally a fate that is worse than death, since the dead hold their peace, whereas Mattie and Zeena are often mad at each ther, adding to Ethan?s suffering and unhappiness.

Re-viewing Summer: the Way to Highland Park, A Selection From A Walker In the City :: Kazin Summer Highland Park

Kazins Summer The Way to Highland ParkSitting on the marble steps of the old, traditional Ameri bottom church, I began to feel cold. two oriental lions, carved out of old white marble, surrounded me. Their faces were mean, and they seemed to be staring at something. As the beasts remained perfectly still, tiny creatures black ants and brown bugs really busily walked on their backs. As I looked around from my cold spot on the step, I could see an old, brick house. This house was like none other on the block. With a large American flag hanging on the door, this house a symbol of the American dream stood taller than all the other houses. My attention wherefore shifted to two great big evergreen trees on each facade, and the beautiful bed of flowers, of all shapes, sizes, and colors, wrapped tightly around the base of the house the tracings of an American summer. There was a light through the upstairs window of the house. I could see a mother sitting with her baby son. Although a ll I could arrest were the many crickets singing softly in the night, I knew that the loving mother was telling a bedtime story to her sweet and sleepy child. My America is a really beautiful place, not only because of the big cities, tall buildings, stone statues, and pretty flowers, but also because of the people who make America what it is today. Knowing within all blue, black, brown, green, and gray eye you see on the streets of America and like me, every window you look through there are stories, hopes and even dreams, this thought brings me the superlative pleasure, as it did Alfred Kazin. Kazins greatest pleasure came looking at the many historical landmarks that New York had to offer and thinking of the many people who struggled to make those amazing contributions. In Summer The Way to Highland Park (1951), Kazin takes us into his childhood in the Brownsville section of Brooklyn, describing his America with such tactile distinction that we too can taste the damp sweetn ess of Italian cheese and see the clumps of red and brown meat dripping off the sausage rings (Kazin 332). You cannot grow up in that kind of environment, without absorbing and re-expressing a fantastically physical world, states Kazin in an National Public Radio news recording.

Colonial Fiction: Mister Johnson Essay -- Essays Papers

Colonial Fiction Mister JohnsonThe relationship between Rudbeck and Mister Johnson is extremely revelation with regards to the experience of the European administrators and the co-operation of the Nigerians in the colonial endeavour. Johnson is keenly aware that superiority for natives directly depends upon being on good terms with the coloniser. He consistently emphasises his effect that Rudbeck is his good friend, and how he is mos indispensable to ... His Majestys service (85). It could be argued that this should not be passed off as simple native fantasy, put in for the amusement of the European reader. In some(prenominal) cases, Johnson is indispensable to the inexperienced Rudbeck, and throughout the novel, Johnson is constantly seen as the innovator in the relationship. In two important and inextricably linked areas, finances and roadbuilding, it is not the colonial brass which responds to the needs of Rudbeck, but Johnson. As if to push this European dependence on the nat ive a little further, Cary suggests that Rudbeck relies on Johnson in his personal life as well. For example, while Rudbeck is working on the road, Johnson is left to entertain his wife, Celia, an act of trust that both shocks and impresses the natives. We are told that this greatly increases Johnsons prestige in Fada, where the Emir does not steady trust his chief eunuch with his wives (87). Concern over finances is a predominant theme throughout the novel, both for Johnson who constantly seems to be in debt, and Rudbeck who, cod to the stringency of the Treasury, never has sufficient m 1y or resources to carry out developments to the extent he would like. The reader is given the impression that, if he could , Rudbeck would be doing ofttimes more with Fada. He is a man of action, who longs to get out on the roads, working hard physically. Yet his ambitions are constantly frustrated, and he is left suffering (57) in his office, itching to get out again. On many levels - financial constraints, inexperience, communication difficult - his hands are tied. Johnsons personal finances never seem to come out the same extent of problems to him as do Rudbecks. When dealing with finances, Rudbecks many sudden depressions (77) often climax, and he simply concedes that everything is all damn nonsense, anyhow (53). Rudbeck knows only too well that he female genitalia expec... ... basics of what he expected from them. However, they are intelligent enough to let Rudbeck do most of the work himself (55) in the blistering African sun. Cary is hinting that the natives are not as gullible as the coloniser would like to believe. In reality, they are much more subversive. Indeed native subversion and resistance could be seen as one the key themes throughout the novel. In other cases, for example, Cary is not so subtle. He openly portrays Waziri offering Johnson favours and bribes to keep him informed about the contents of Rudbecks safe, which contains all the written document and information sent from Britain, communications which were essential for indirect rule - a role Johnson carries out without a second thought concerning any moral obedience to Rudbeck. As Cary sees it, in the colonial project, personalities and individuals are of no concern. In the imperialist longing for supremacy and the natives response to this, people are used and discarded at will. Cary gives every indication that the problems faced by Rudbeck are universal throughout the colonial project. The plight of the colonial administrator seems doomed to a life of mental confusion and disillusionment.

Male Attitude in Hurston’sTheir Eyes Were Watching God and Seraph on the Suwanee :: Their Eyes Were Watching God Essays

Male Attitude Towards Women in Hurstons Novels, Their Eyes Were Watching God and Seraph on the SuwaneeAw naw they dont. They just ideate theys thinkin. When Ah see peerless thing Ah down the stairsstands ten. You see ten things and dont envision one.(71) Joe Starks to Janie in Their Eyes Were Watching God That shows the difference between me and you. I see one thing and can understand ten. You see ten things and cant even understand one.(261) Jim Meserve to Arvay in Seraph on the Suwanee While reading these two novels by Zora Neale Hurston, I spy several metaphors, ideas, and lines that she uses in both texts. I think that the almost parallel lines quoted above are particularly telling of the way that these two novels relate in their depictions of male attitudes towards women and the relationships that exist between the husband and wife characters. Janies matrimony to Joe Starks in Their Eyes Were Watching God and Arvays marriage to Jim Meserve in Seraph on the Suwanee both pe rsist under the rubric of the male figures ideas about what marriage and women should be and do. Within both of these marriages, the husband feels his wife is a possession that is to be provided for and cherished, yet non necessarily to be communed with. Joe embodies this sentiment throughout his marriage with Janie, placing her on a kind of pedestal where she can be seen, but not heard. Jim establishes his marriage under similar pretenses and verbally reiterates them throughout the novel, yet seems to evolve past them in a certain respect as he urges Arvay to take an active graphic symbol in their love. In their patriarchal positions of authority, both Joe and Jim see themselves as wise, as understanding ten things, whereas they view their wives as stupid and ungrateful, as unable to understand even one thing. We can infer Joes attitude towards women and marriage from several statements that he makes to Janie throughout their relationship. While he courts his future wife, Joe exp lains himself and his intentions Ahm uh man wid principles. You aint never knowed what it was to be treated lak a lady and Ah wants to be de one tuh show yuh. Call me Jody lak you do sometime(29). He then situates Janies subservient and silent position within the marriage mah wife dont know nothin bout no speech-makin. Ah never married her for nothin lak dat.