Final exam Coursework Example | Topics and Well Written Essays - 1000 words

Final exam - Coursework Example Financial leases are referred to as long-term debts and are included in the balance sheet while operating leases are referred as operating expenses and can be excluded from the balance sheet (Needles & Powers, 2012). II). Capitalizing of leases and related assets have several benefits. Use of long-term leases ensures that payment is paid in full as agreed since there is no cancelation of the agreement. In addition, the payment period is almost the same with the useful life of the asset. It also provides the lessee with the option of buying the asset at a nominal value at end period due to the agreement (Needles, & Powers, 2012). A long-term lease costs less than a short-term lease and does not require immediate payment as rental payment is deducted in full for tax purposes. Use of short-term lease however allows the risk of ownership to remain with the lesser and the lease period is shorter than the useful life of the asset (Needles, & Powers, 2012). Leases however have various disadvantages which include the following. There must be payment of interest regardless of the economic position of the company. Secondly the interest rates are fixed and do not consider the economic condition of the firm. However, excessive lease increase the risk of shareholders hence reducing the share prices (Needles, & Powers, 2012). 3). Interest expense should be deducted from the operating cash flows. The University of Le Verne M.B.A is right. According to Brigham & Earnhardt (2013), interests should not be included in calculating cash flows of a project. This is because the project cash flows are discounted by risk involved in the cost of capital interest being expenditure. The cost of financing a project may either be in the form of interest expense, debt financing, or dividends from shareholders. Excluding cost such as interest expense in the calculation of cash flows may seem to be illogical but it is

FUNDAMENTAL CONCEPTS, METHODS, & MODES IN THE HUMANITIES Essay

FUNDAMENTAL CONCEPTS, METHODS, & MODES IN THE HUMANITIES - Essay Example The artistic works of Giotto, Masaccio, Alberti, Leonardo, Botticelli, Michelangelo and Raphael are among the most prominent ones in the Renaissance period. The principal characteristics of Renaissance art include development of a linear perspective, shadow and light, expressions and emotions, realism and naturalism, classicism, humanism and geometrical arrangement of figures. Renaissance artists particularly emphasized on the idea of linear perspective maximizing illusionist depth and space in their works to give it a more realistic and natural look. For instance, the famous painting Flagellation of Christ by Piero della Francesca has utilized linear of perspective beautifully. They studies classical concept in sculpture including human proportion and stance to express their work with weight and fluidity. Renaissance art depicts humanism addressing a number of human values and concerns. For instance, Raphael’s School of Athens shows humanistic interpretations. Moreover, the r enaissance artists mostly rejected the use of religious and supernatural themes. They preferred to paint liberal concepts in their works. The 14th century was a time of great crisis in Europe apparently unsuitable for any sort of innovation and creativity. The appearance of plague, continuing war, and turmoil in the Catholic Church were among the major catastrophic events faced by the Europeans following the decline of Roman Empire. In such a dark age Europeans sought a cultural movement for revival. Despite these discouraging factors, the culture in Italy was surrounded by the remnants of a once glorious Roman empire capable of supporting a rebirth. Renaissance artists took advantage of the emigrating Greek scholars bringing with them classical knowledge of the Greek civilization, high proportion of merchants patronizing artists, and greater political and religious liberty for translation of their ideas into practice. The Baroque Baroque meaning the pearl of an irregular shape mark s the style of art and architecture period during the 17th and early 18th century. Like Renaissance, baroque period started in Italy which later spread to the rest of Europe and America. Baroque art successfully flourished until the advent of Neo-classical art style in the 18th century. Early Baroque art was inspired by the works of other artist such as Correggio and Caravaggio and Barocci. However, later in the 18th century, it depicted less drama and color categorized as Late Baroque art period. The most notable of the Baroque period are the works of Rubens, Caravaggio, Carracci, Cortona, Bernini, Rembrandt and Flemish. The general characteristics of the Baroque art are depicted by movement, dramatic and emotional, tension and energy, theatrical, sensual, counter-reformation, exaggerated lighting, tenebrism, naturalism, spatial values and time. Baroque artists used circular or diagonal composition to depict motion for emotional effects. According to Wolfflin (1979), the Baroque wa s the age â€Å"where the oval replaced the circle as the center of composition, that centralization replaced balance, and that coloristic and ‘painterly’ effects began to become more prominent†. Baroque works of art usually imply irregularity, strangeness and extravagance. For instance, Bernini's Cornaro Chapel in Rome is regarded as a theatrical masterpiece depicting Baroque art. As new scientific concepts were being introduced by Galileo, Pascal and