All the Pretty Horses free essay sample

All the Pretty Horses, the setting is used to represent the main characters transformation over time from one terrain to another. The limitedness of the Texan terrain scattered with barbed wire restrictions identifies the restlessness that motivates John Grady’s brevity in the region at the beginning of the novel. Meanwhile, the Mexican wilderness that John Grady Cole’s sets out for comes to epitomize how the vast territory of fenceless space shapes his experiences as they outline his true character. The result is recognition of the parallel between open terrain and his character, each one exemplifying one another and in the end explains the enlightenment he struggles for. Right out of the gate McCarthy shines light on the theme of personal constraint contingent on the landscape. John Grady is introduced in the beginning of the novel on his ranch in Texas preparing for his grandfather’s funeral. Right away the reader is informed of his feelings of being trapped and contained. The opening sentence of the novel offers intuition into this: â€Å"The candleflame and the image of the candleflame caught in the pierglass twisted and righted when he entered the hall and again when he shut the door† (McCarthy 3). The symbolism here is that of a character whose energy and aspirations for western lifestyle are being confined to a location that is changing and slowly vanishing. He therefore remains â€Å"caught,† with limited opportunity to participate in the way of life he hopes for. This fact is ultimately disheartening, particularly for a character that is symbolized as a flame that burns with exuberance. However, at the same time he struggles, â€Å"twist[ing] and right[ing]† himself to be free to chase his ambitions. John Grady’s contempt and restlessness stem from the hardships of his family. The Cole family made their name in cattle ranching for almost a century, but is now facing a financial crisis due to an increase of industrialization. The problem is made even more difficult with the death of John Grady’s grandfather and the waning health of his father, who seems to suffer from emphysema. Grady’s mother at the same time pursues life as an actress and holds no affections for the ranch she inherits and plans to sell the unprofitable plot. Grady consults a Franklin a lawyer who explains to a befuddled John Grady, â€Å"If it was a payin proposition that’d be one thing. But it aint† (McCarthy 17). His mothers’ indifference to the welfare of the family ranch certainly disappointments him, however he too soon chooses to forsake the place he has called home for sixteen years. Even though John Grady is most content in a rural setting and on the family ranch, it opens his eyes to the mortality of the place; the death of his grandfather corresponds with the subsequent death of his agrarian way of life. The ranching lifestyle and the attractions it had were creeping toward a mechanized extinction. This threat is most clearly grasped by John Grady when he steps outside and watches a train pass: â€Å"It came boring out of the east like some ribald satellite of the coming sun howling and bellowing in the distance and the long light of the headlamp running through the tangled mesquite brakes and creating out of the night the endless fenceline down the dead straight right of way and sucking it back again wire and post mile on mile into the darkness† (McCarthy 4). The train symbolizes something tremendously modern invading his home, from the more populated and developed east. McCarthy portrays the train as an unstoppable foreign force imposing its self on an old way of life. The event cements the death of the place for John Grady. He concludes that trying to gain possession of the ranch and confronting the juggernaut of modernism is beyond his abilities and he stands no chance. John Grady and Rawlins decision to explore the untamed expanse to south of their birthplace brings a succession of experiences that transform John Grady and forms a recognizable coming of age tale. The core of this coming of age narrative moves along and mirrors the advancement of setting. When John Grady and his friend Jimmy Rawlins first depart for Mexico they ride an idyllic stretch in which they encounter no problems or violence. They partake on this romantic journey to Mexico flawlessly, which conforms exactly to their expectations. â€Å"They rode out on the round dais of the earth . . . which carried their figures and bore them up into the swarming stars so that they rode not under but among them . . . ike young thieves in a glowing orchard, loosely jacketed against the cold and ten thousand worlds for the choosing† (McCarthy 30). Their aim is to act like the men who fill their idealized imaginings, men not of leisure but of serious purpose, perseverance, and models of healthy masculinity with the world at their fingertips. Little did they know the Mexican landscape they trekked across would become unforgiving and gradually more demanding. These changes can be associated as learning experiences typically linked to a coming of age story. A storm begins to build up that literally and iguratively rains on their idyllic beginning and is a prelude for what is to come. That night John Grady and Rawlins become heavily intoxicated for what seemed like their first time, their subsequent sickness is described against a significantly in a much less ideal place. â€Å"By dark the storm had slacked and the rain had almost ceased. They pulled the wet saddles off the horses and hobbled them and walked off in separate directions†¦clutching their knees vomiting. In the gray twilight those retchings seemed to echo like the calls of some rude provisional species loosed upon that waste† (McCarthy 71). The once placid, tranquil backdrop that had once given the boys limitless options was now a â€Å"waste† occupied by a â€Å"rude provisional species. † The deterioration of the landscape from uncompromising to contemptuous is noted and the theme that the setting is independent, but that it is a key element affecting the protagonist’s experiences. After finding work for a Mexican ranch hand the boys briefly feel stable and out of a state of transiency. However, after some time passes Mexican guards whisk the boys away after they are being charged with having ties to a murder committed by their old riding buddy Jimmy Blevins. After a few days at Ecantada they are put on a truck over to Saltillo Prison. Upon their arrival they are greeted with hostility from the inmates and forced to live in vastly unfavorable conditions. â€Å"They slept in iron bunks chained to the walls on thin trocheros or mattress pads that were greasy, vile, infested. In the morning they climbed down the four flights of steel ladders into the yard and stood among the prisoners for the morning list† (McCarthy 182). Once again the setting defines the peril that has fallen upon them down an ever steeper slope. he shared sites at which the renderings of the landscape occur. Among the three of the aforementioned examples, the one that displays positive emotion takes place in a calm, tranquil arena; when John Grady and Rawlins set off on their odyssey into the vast southern aridness, their morale is high, which can be directly traced to the imagery used to describe their surroundings. With no immediate experiences with the severe re alities of a country and culture so different from their own, they boys see no reason not to continue and pursue their dreams. In contrast, the boys’ first encounter with hardship comes at a time of great inebriation. Vomiting along the road and hearing the painful heaves of their disillusionment echo in the mountains. Similarly, their plight in the Saltillo presents a rude awakening forcing them to fight to stay alive daily. In the end, John Grady makes amends with the idea that initially drove him out of Texas in the first place. What was once an opportunity for adventure has now become painful, and ironically his restlessness for home that balances his initial restlessness for escape. By the time he has commenced his final ride, from Encantada to Texas, John Grady is identified only by a grim weariness that is dutifully mirrored by the landscape: â€Å"There was just the stillness and the silence and the sound of the horses breathing and the sound of their hooves clopping in the dark† (McCarthy 286). The notion of the heroic trek has been stripped of its enchantments, its hard realities laid bare, and John Grady’s environment has traced ably and faithfully the trajectory of his disillusionment. Lying riverside with the journey still young, the boys assess a map as their horses graze. It is an oilcompany roadmap, inconveniently specific and untuned to their needs, yet neither of them is disturbed. To the south of the Rio Grande lies only an expanse of uncharted white, malleable and untested, a challenge in the pure fact of its virgin blankness. At novel’s end, they might perceive the map as irrelevant, bounded and square—hardly representative of the Earth and its infinite curve on which any fixed cardinal direction becomes its opposite. But here, cavalierly â€Å"stretched out in the shade of a stand of blackwillow,† it espouses only one truth.

History of Chess free essay sample

The precursors of chess originated in India during the Gupta Empire,[2][3][4][5] where its early form in the 6th century was known as chatura? ga, which translates as four divisions (of the military): infantry, cavalry, elephantry, and chariotry, represented by the pieces that would evolve into the modern pawn, knight, bishop, and rook, respectively. [6] Chess was introduced to Persia from India and became a part of the princely or courtly education of Persian nobility. 7] In Sassanid Persia around 600 the name became chatrang, which subsequently evolved to shatranj, due to Arab Muslim’s lack of ch and ng native sounds,[8] and the rules were developed further. Players started calling Shah! (Persian for King! ) when attacking the opponents king, and Shah Mat! (Persian for the king is helpless – see checkmate) when the king was attacked and could not escape from attack. These exclamations persisted in chess as it traveled to other lands. The game was taken up by the Muslim world after the Islamic conquest of Persia, with the pieces largely keeping their Persian names. We will write a custom essay sample on History of Chess or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The Moors of North Africa rendered Persian shatranj as sha? erej, which gave rise to the Spanish acedrex, axedrez and ajedrez; in Portuguese it became xadrez, and in Greek zatrikion, but in the rest of Europe it was replaced by versions of the Persian shah (king). Thus, the game came to be called ludus scacchorum or scacc(h)i in Latin, scacchi in Italian, escacs in Catalan, echecs in French (Old French eschecs); schaken in Dutch, Schach in German, szachy in Polish, sahs in Latvian, skak in Danish, sjakk in Norwegian, schack in Swedish, sakki in Finnish, sah in South Slavic languages, sakk in Hungarian and sah in Romanian; there are two theories about why this change happened: 1. From the exclamation check or checkmate as it was pronounced in various languages. 2. From the first chessmen known of in Western Europe (except Iberia and Greece) being ornamental chess kings brought in as curios by Muslim traders. The Mongols call the game shatar, and in Ethiopia it is called senterej, both evidently derived from shatranj. Chess spread directly from the Middle East to Russia, where chess became known as Ã'ˆÐ °Ã'…Ð ¼Ã °Ã'‚Ã'‹ (shakhmaty, treated as a plural). The game reached Western Europe and Russia by at least three routes, the earliest being in the 9th century. By the year 1000 it had spread throughout Europe

Free Essays on Feminism

FEMINIST MOVEMENT FROM ITS ORIGINS TO THE PRESENT IN USA Women traditionally had been regarded as inferior to men physically and intellectually. Both law and theology had ordered their subjection. Women could not possess property in their own names, engage in business, or control the disposal of their children. Historically they have been considered not only intellectually inferior to men but also a major source of temptation and evil. In Greek mythology, for example, it was a woman, Pandora, who opened the forbidden box and brought plagues and unhappiness to mankind. Early Roman law described women as children, forever inferior to men. Early Christian theology perpetuated these views. St. Jerome, a 4th-century Latin father of the Christian church, said: "Woman is the gate of the devil, the path of wickedness, the sting of the serpent, in a word a perilous object." But throughout centuries women began to understand that they were not inferior. From this moment they began to seek their equality in the name of Feminism. Feminism is a movement for the political, social, and educational equality of women with men; the movement has occurred mainly in Europe and the United States. It has its roots in the humanism of the 18th century and in the Industrial Revolution. We first see the Feminist Movement in French Revolution with Olympe de Gouges’ writings. In Europe there’re 2 important feminist writers that wrote classics in Feminist Literature. First one is English writer Virginia Woolf with her famous work ‘A Room of One’s Own’. The second writer is French Simone de Beauvoir with her work ‘Le Deuxieme Sexe’. Feminist issues range from access to employment, education, child care, contraception, and abortion, to equality in the workplace, changing family roles, redress for sexual harassment in the workplace, and the need for equal political representation. The history of American feminism - the self-conscious desire to achie... Free Essays on Feminism Free Essays on Feminism FEMINISM The woman’s position wasn’t always the same across the different cultures of the world. Either it was bad or good there was always something different. Some scientists believe that the first type of human society was the matriarchy. Women had more and greater rights than men. However, as time passed by the two categories of human sexes began wanting to command respect to each other. The result of this â€Å"battle† was that men managed finally to make women obey them. Undoubtedly, women made great efforts in order to overcome the disadvantages of the situation that they ended up facing, and in a way, they succeeded. Women who couldn’t stand this oppression any more decided to demand their rights by creating a movement called Feminism. Feminism can be considered as a philosophical and sociological theory, which supports that the two sexes are equal not only in a social and economical level but in an urban and political level as well. However, even though by this movement women managed many things, in none of the countries the roots of the woman’s eternal inferiority haven’t yet obliterated, we can still see sometimes that new types of super session and imbalances make their appearance. Women are no longer expected to stay at home, keep the house, take care of children, wait patiently their husband to return and bring some money. Unlike they work hard by leading two lives. In the morning we see many women going to their office, and then in the afternoon running in order to be at home early to prepare the food for the children and the husband. But neither in the workplace, nor in the house they are equal patterns with men. In the 1960’s and 1970’s, a number of factors contributed to the resurgence of Feminism. Young women who were active in this movement gained experience in the politics of protest, but found that movement leaders often viewed women’s issues as trivial and relegated them to gender- stereotype... Free Essays on Feminism FEMINIST MOVEMENT FROM ITS ORIGINS TO THE PRESENT IN USA Women traditionally had been regarded as inferior to men physically and intellectually. Both law and theology had ordered their subjection. Women could not possess property in their own names, engage in business, or control the disposal of their children. Historically they have been considered not only intellectually inferior to men but also a major source of temptation and evil. In Greek mythology, for example, it was a woman, Pandora, who opened the forbidden box and brought plagues and unhappiness to mankind. Early Roman law described women as children, forever inferior to men. Early Christian theology perpetuated these views. St. Jerome, a 4th-century Latin father of the Christian church, said: "Woman is the gate of the devil, the path of wickedness, the sting of the serpent, in a word a perilous object." But throughout centuries women began to understand that they were not inferior. From this moment they began to seek their equality in the name of Feminism. Feminism is a movement for the political, social, and educational equality of women with men; the movement has occurred mainly in Europe and the United States. It has its roots in the humanism of the 18th century and in the Industrial Revolution. We first see the Feminist Movement in French Revolution with Olympe de Gouges’ writings. In Europe there’re 2 important feminist writers that wrote classics in Feminist Literature. First one is English writer Virginia Woolf with her famous work ‘A Room of One’s Own’. The second writer is French Simone de Beauvoir with her work ‘Le Deuxieme Sexe’. Feminist issues range from access to employment, education, child care, contraception, and abortion, to equality in the workplace, changing family roles, redress for sexual harassment in the workplace, and the need for equal political representation. The history of American feminism - the self-conscious desire to achie...

New Test Development Project Risk Monitoring and Control Assignment

New Test Development Project Risk Monitoring and Control - Assignment Example Basically, the project monitoring and evaluation in this project management are meant to provide objective and reliable up to date information about the progress of the project and as such helps eliminate unnecessary risks. Four basic indicator systems will be used in the project monitoring and control which includes; Schedule Performance Monitoring, Program Metrics, Technical Performance Measurement (TPM) and Earned Value (EV) (Kerzner, 2006). An in-depth monitoring and control of scheduled risks will be conducted to gauge the extent of the damages caused by such risks if any will be undertaken during the project implementation. After 30days, the project management staff will conduct a scheduled performance monitoring indicator to establish whether the time allowed for a risk that may occur as a result of the delay caused by the NATA in granting accreditation of the assays was within the acceptable limits. This process will be done to ensure that the overall implementation period of the project is not compromised by risks caused by NATA. The project monitoring and control tool will also be used to check the effectiveness of the rejection of the risk to proceed to offer service without NATA accreditation. The process will find out if adopting the risk would have dented the image of a project as earlier been presumed. There are other risks such as technical risks that have been identified as possible causes of delays in the implementation of this project. However, program metrics and earned value (EV) are some of the indicator approaches that will be used to monitor and control the adopted response strategies. The project has adopted risks such as the failure of assay design, challenged validation report by NATA assessor and service redundancy. Likewise, during the implementation of the project risk monitoring will be done against the above-named risks to estimate the effectiveness of the decision of adopting them.  

Financial Ratio for Krispy Kreme and BCG Matrix for McDonald's Assignment

Financial Ratio for Krispy Kreme and BCG Matrix for McDonald's - Assignment Example The measurement considers all assets including inventory, accounts receivable, and fixed assets. The lower the ratio, the more slowly the firm’s sales are. Comparing the number to past years company data is important in order to see trends that have developed. In addition, comparing it to the industry standard is useful in order to see how the company compares to its prime competitors. If a problem exists with a low ratio, it could be possible that one or more of the firm’s asset categories have problems that need addressing. (Peavler, pp 1-2). Krispy Kreme’s total assets turnover ratio of 1.9 times is better than its prime competitors of McDonalds and Starbucks. McDonald's has a current total assets turnover of .80 times, while Starbucks Corporation has a current total assets turnover of 1.7 times. (ADVFN, PLC) Hence, this is listed as an overall strength or competitive advantage for Krispy Kreme. The second ratio examined is Krispy Kreme’s debt to equity ratio. The ratio is calculated as Total liabilities / Stockholder’s Equity. A high debt to equity ratio would indicate that the company has financed its growth through debt. The main issues would be if the company overextended itself and took on too much debt, or if it has to shoulder a large amount of interest due to the existing debt. High or increasing debt ratios in relation to equity can be dangerous since it would indicate that the company is being financed by creditors instead of internal cash flows. (www.enterpernuer.com website). Krispy Kreme’s debt to equity ratio of 1.05 is higher than its prime competitors. McDonalds Corporation has a .81 ratio, while Starbucks has a low .18 ratio. (ADVFN, PLC). Overall, 1.05 of Krispy Kreme is not an evident weakness, since using some leverage is not considered a clear weakness. The third ratio examined is the return on equity ratio. It is calculated as follows: Net income / Common Equity. This ratio is especially useful for shareholders who are interested in knowing what profits earned by the company can be made available to pay dividends.     

Critical accounting theory

Critical accounting theory Introduction There are several reasons there is no one universally accepted theory of accounting. The reasons are of two sorts. The first is philosophical. The second is practical. This essay discusses each of these. It then provides examples from accounting theory. Philosophical reasons The statement There is no universally accepted accounting theory is true by definition. Scientific understanding of the term theory denies that any theory can be universally accepted. According to Popper (e.g., 2002a, 2002b), theories are conjectures that are put to the test. If they are refuted by the test, they are either rejected or refined. If they are not refuted, they remain theories (not facts). They are then put to further tests, and are further refined. In order for this to proceed, there must exist rival theories. In this way, theories compete in a process of Darwinian selection. The theories never get to the truth, but they get progressively closer. This is the first reason there is no universally accepted theory of accounting. If there were a universally accepted theory of accounting, it wouldnt be a theory. It would be something else. Notice that, according to Popper, no theory ever arrives at certain knowledge. The best any theory can do is curtail ignorance. Moreover, if scientists were to discover a true theory, there would be no way they could know it was true, so there would still be competing theories. This last point needs elaboration. GÃ ¶dels incompleteness theorems (see, e.g., Hofstadter, 1979) demonstrate that, in any system of logic rich enough to contain formal arithmetic there exists an infinite number of statements that are true but that are impossible, in principle, for the system to know to be true. This means, in practical terms, that in any complex system-for example, an economic system-there exist solutions to problems that are known by the system, but are not known by any individual within it. This is appreciated by leading economists (e.g., Hayek, 1979). Further, given that there exist usually infinitely more wrong solutions to problems than correct solutions to problems, any attempt to solve such problems by diktat is infinitely more likely to lead to failure than to success. As regards economics, this led Hayek (1944) to his espousal of the free market. As regards theory in science, it means that any attempt to impose a single theory on anything is likely to lead to a seriously wrong theory. This is another reason for believing there can be no universally accepted theory of accounting. Any universally accepted theory could only be universally accepted if it were imposed by diktat, and, if it were imposed by diktat, it would of necessity most likely be wrong. Therefore it would give rise to a rival theory. Related to this, Feyerabend (1996) argues that there is no such thing as a single scientific method, and that any attempt to impose one is counter-productive. Feyerabends philosophy of science is summarised as anything goes. This, provides another reason for there being no single theory of accounting. If there can be no universally accepted method, there can be no universally accepted theory. There are two popular views of science that are in conflict with Poppers perspective: positivism and postmodernism. Positivism is the philosophy, associated with Ayer (1946) that says that the only meaningful statements are those that are true by logic and those that may be verified by observation. This is the verification principle. The first problem with the verification principle is that it is neither a truth of logic nor an empirically verifiable fact, therefore by its own terms it is meaningless. The second problem is that in implies science proceeds inductively. But inductive logic (drawing general conclusions from specific instances) is flawed: a million observations of white swans, for example, does not demonstrate that all swans are white (indeed, they arent: some swans are black). Postmodernism is the philosophy that reality is socially constructed. So what is real to one person may be unreal to another. At a trivial level, this is true, for different people see the same things in different ways. It is also true that, historically, science progressed in some instances by changes in world view, or paradigm (Kuhn, 1996). However, this is a question more of the sociology of science, not of ontology. And taken literally postmodernism is absurd. It leads to the conclusion that there is no such thing as reality. The prevalence of competing philosophies of science-Popperism, positivism, and postmodernism-provides another reason for there being no universally accepted theory of accounting. There is no universally accepted view of what constitutes reality. Thus one should expect there to be different theories of accounting, each with its cadre of supporters. Practical reasons There are three purposes for any theory of accounting, and each makes different demands on the theory. The first is that accounting should provide the best information about a companys position. Such a theory is prescriptive, in that it suggests how best accountants should ply their trade. Such a viewpoint is said to be normative. A normative theory is one that states what is best practice. A theory of accounting may also seek to describe what accountants do. Any science must include accurate descriptions. It is logically possible for a researcher to adhere to a descriptive theory yet bemoan the fact that accountants dont follow what the researcher considers the correct (i.e., normative) practice. There is another aspect to descriptive theories. Until the advent of cheap computers, there was no way that researchers could analyse vast collections of data. Moreover, very often the data were unavailable (Gaffikin), 2008). Computers have changed this. This is another reason for believing there is no universally accepted theory of accounting. A descriptive theory is only as good as the data fed into it. But it is impossible to analyse all the data, only different blocks of data. Different blocks may give rise to different descriptions. In describing how accountants behave, researchers must gather evidence. But what evidence? And how should researchers gather it? Positivists tend to use quantitative data. These are data that are, supposedly objective, and may be expressed numerically and manipulated statistically. Company sales figures are an example. Postmodernists tend to use qualitative data. These are data that make no claim to objectivity and are difficult to express numerically. The findings of unstructured interviews-emotions, impressions, and so on-are examples of qualitative data. Because of this, even when presented with the same evidence, different researchers may reach different conclusions. This is another reason there is no universally accepted theory of accounting. A theory of accounting can seek to explain. Such theories are scientific in the Popperian sense, for they may be refuted. It is logically possible for a researcher to believe that Theory 1 is the best explanatory theory, Theory 2 is the best descriptive theory, and Theory 3 is the best normative theory. Thus again there are many theories of accounting. Any researcher may subscribe to three different theories, and do so without being inconsistent. In practice, the distinction between normative, descriptive, and explanatory theories is blurred. Any theory of one type may have features of the others. Example theories This section considers discusses two example theories. Theory 1: Positive accounting theory There are several problems with normative theory. One concerns what to enter. Consider assets. An accountant does not know how much a companys assets are worth. So the accountant uses one of several indicators (historical cost, for instance). The accountant must also estimate how much assets depreciate. Accountants use algorithms to calculate depreciation-typically, straight line depreciation such that assets become worthless after three years. Such algorithms are only broadly accurate. Such considerations led Watts and Zimmerman (1978) to develop positive accountancy theory. The theory is in part descriptive, in that it states what real-world accountants do, and in part explanatory, in that it purports to explain why accountants behave in the way they do. The theory says, in effect, that company accounts do not accord with reality. Instead, they accord with what powerful interests (stakeholders, shareholders, managers) want others to see as reality. The theory makes two assumptions: Homo economicus. This states three things. First, people are entirely rational. Second, people act only out of self-interest. Third, people act only to maximise their wealth. The efficient market hypothesis (EMH). This states that, left to its own devices (i.e., if unregulated), the market delivers an optimum price for any good or service. The EMH states that prices accord with all available information. The reason positive accounting theory makes these assumptions is that, without them, it is difficult to make quantifiable predictions, but with them it is relatively easy. Thus, for example, with them one can predict companies in one particular environment will prefer a different form of accounting from companies in another type of environment. Thus, for example, Watts and Zimmerman (1978) predict that firms whose earnings are increased by general price level adjusted accounting (GPLA) will oppose GPLA, but firms whose earnings are decreased by GPLA will favour it. But the notion of H. economicus is problematic-some people are unintelligent, some are altruistic, and so on (Lunn, cited in Clark, 2008), The EMH is also contentious. Some economists accept it, others dont. The EMH is also vague. If the market is efficient, the EMH doesnt say how long it takes to reach a decision Also, if the EMH were true, arbitrage would be impossible. The best one can say about the assumptions is that they provide an approximation of reality. How good an approximation it is, nobody knows. This is another reason there is no universally accepted theory of accounting. Some people think the assumptions provide a good approximation; some people think they provide a bad one. Fama and French (2004) state that markets can be inefficient and investors can be ill-informed and irrational, Just as owners, governments, and workers have vested interests, so have Watts and Zimmerman. In their case, they are interested in promoting positive accounting theory. So, in this regard, the theory has a normative aspect. It concerns how accountancy researchers should practice their trade. If all researchers follow Watts and Zimmermans diktats, Watts and Zimmerman will become rich. Naturally, all accountancy researchers want to be in Watts and Zimmermans position, but the only way for them to do so is to develop a rival theory. This is another reason there is no universally accepted accountancy theory. Theory 2. Critical accounting theory Critical accounting theory isnt really a theory. Its more a style of criticism. It aims, not only to alter accounting practice, but to change society (Gaffikin, 2008). It is political. Thus, for example, Laughlin (cited in Davis, 2008) states: A critical understanding of the role of accounting processes and practices and the accounting profession in the functioning of society and organisations with an intention to use that understanding to engage (where appropriate) in changing these processes, practices and the profession. In this, critical accounting theory is postmodernist. Postmodernists point to the numerous flaws in positive accountancy theory. They highlight the weaknesses in the concepts of H. economicus and the EMH. They point out that Watts and Zimmerman use rhetorical devices to put the views across. They argue that the methodology and measuring instruments of positivist theories are crude, and so on. Occasionally, they make (or repeat) good points (e.g., the EMH is incorrect) (e.g., Mouck, 1992). As indicated, postmodernists deny the existence of objective reality. In doing so, they deny the possibility of determining the truth, or worth, of any statement. Thus they deny the truth, or worth, of postmodernism. This is the problem with postmodernism. If reality is socially constructed, then there cannot be a universally accepted theory, for socially constructed reality differs according to who is doing the constructing. A true theory to one postmodernist is a false theory to all others. That is why there is no universally accepted theory of accounting. References Ayer, A.J. (1946). Language, truth and logic. (2nd ed.). London: Gollancz. Clark, T. (2008, November 1). Market madness. The Guardian. Davis, D. (2008). Critical accounting theory. Lecture 9. Lecture notes. Bangor Business School. Feyerabend, P. (1996). Against method: Outline of an anarchistic theory of knowledge. San Francisco, CA: Analytical Psychology Club of San Francisco, Fama, E.F. and French, A.R. (2004). The CAPM: Theory and Evidence. On line: http://www.econ.sdu.edu.cn/jrtzx/uploadfile/pdf/Assetpricing/04.pdf Gaffikin, M. (2008). Accounting theory: Research, regulation and accounting practice. French Forest, Australia: Pearson Education. Hayek, F. A. (1979). Unemployment and monetary policy. San Francisco: Cato Institute. Hayek, F. A. (1944). The road to serfdom. London: George Routledge Hofstadter, D. (1979). G?del, Esther, Bach: An eternal golden braid. Harmondsworth: Penguin. Kuhn, T. (1996). The structure of scientific revolutions. Chicago: University of Chicago Press. Mouck, T. (1992). The rhetoric of science and the rhetoric of revolt in the story of positive accounting theory. Accounting Auditing, and Accountability, 5 (4): 35-56. Popper, K. (2002a). Unended quest. An intellectual biography. London: Routledge. Popper, K. (2002b). Conjectures and refutations. London: Routledge. Watts, R.L. And Zimmerman, J.L. (1978). Towards a positive theory of the determination of accounting standards. Accounting Review, 53: 112-132.

Price Mechanism

The market system is the mechanism for allocating scarce resources and thereby encouraging a positive investment climate. The problem of scarcity is common in all economic structures. The economic system of a particular country is the way in which its people, businesses and government make choices. Demand is the amount of a product consumers are willing and able to purchase at any given time. However, supply is the amount of a product that is available at any given time. The following diagram shows the relationship that demand has with supply:The above diagram shows that where the demand and supply intersects, indicates the quantity which suppliers wish to market equals the quantity which buyers are willing to take. There are many factors that have determined the general increase in global food prices over the last four years. One factor is in late 2006 the unseasonable droughts in many grain-producing countries. The top three wheat producers in the world are, China, India, and the U nited States respectively. The consequences of drought include diminished crop growth, and the ability to rare livestock.Also, it causes erosion, which further affects plantations and soil consistency. Without water there can be no irrigation. Irrigation is an artificial application of water to the soil for assisting of the proper, healthy growth of crops. Wildfires are also caused by droughts because of the lack of moisture in the air; they consume all agriculture once formed. Biofuels, a fuel substitute that is derived not from fossil fuels but from biological material maybe another cause of rising food prices. Bio fuels are commonly used in place of gas to power vehicles, to heat houses and even to cook on your stove.The factor that affects the price of crops here is that Biofuels use crops high in sugar and starch, then fermentation of these crops causes the it to produce ethanol. Ethanol is the substance, which is used for power. So as our world is becoming more eco friendly an d aware, our food prices will rise. Oil prices over the last four years have been steadily rising, causing food transport and other agriculture related machinery and treatments to rise also. From the mid 1980s to September 2003, the inflation-adjusted price of a barrel of crude oil on NYMEX (New York Mercantile Exchange) was on average under US$25/barrel.Then in 2003 it finally rose to US$30/barrel and gradually went up to US$60/barrel in 2005, and skyrocketed to US$147/barrel in 2008. These drastic increases in oil prices have taken their toll on food prices over the past four years. Wheat and grain are said to be relatively inelastic, meaning there is not much range for substituting. So where there is a large change in price there is little or no change in the quantity demanded of that particular good. The elasticity of a product can be measured by the following formula: PED = % change in Quantity Demanded of product change in price of that product World population growth is the l atest in factors to affect food prices. The world population has grown from 1. 6 billion in 1900 to an estimated 6. 6 billion today. The increase in population size has mainly been pointed to the developed countries where food prices are subsidized. In these countries, the government subsidize crops, and absorb the extra cost of food so the cost does not affect the consumer. So in reality, the developing and the third world countries are the only ones to suffer from our current food shortage.