Globalization Chinese Culture Essay Example

Globalization: Chinese Culture Essay Some people argue that globalization has made some cultures perish. Do you think globalization will have the same effect on Chinese culture? Does globalization have a positive or negative effect on Chinese culture? Why? Generally speaking, what are the advantages and disadvantages of globalization? |The development of globalization has changed the whole world in every aspect. Not only does it | | |effect the economy and politics, but the culture of different countries. During the process, | , , |oriental culture has radiated new vitality and displayed extremely bright prospect. After the |, , | |long cultural division and reunion, Oriental cultural re-found its position. The prospective | , | |Oriental culture will give full play to its merit that emphasizes the spiritual culture, and |, , | |will continuously enrich and improve itself and thus finally to achieve its position in future | | |world culture. | | |Some experts say that globalization has brought about a multi-cultural world, and because of the|, , | |superiority of the Occident race, the dominant culture may be led by western countries and gives| , , | |a huge attack to other cultures. At that time, the human beings will enter a period of | , | |stagnation . Then the globalization may not eliminate the conflicts between nations and |, , | |nationalities. In some cases, it may intensify the condition. So protecting oriental culture is | , , , | |very urgent. And as the representative of oriental culture, we are lucky that some of Chinas | | |ancient culture, especially the thoughts are well remained, and now swings the world with | , , , | |Confucianism which can make the whole world more harmonious. | 17? 18 , | |In the past, Greece had Socrates and Plato while China had Confucius and Laozi. We will write a custom essay sample on Globalization: Chinese Culture specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Globalization: Chinese Culture specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Globalization: Chinese Culture specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Their thoughts | , | |have become the main spiritual treasure in the history of human beings. In the 17th and 18th | , , | |century, western countries had absorbed the Indian and Chinese culture, at the same time, | , , | |Chinese culture had developed and up-dated rapidly with the effect of the foreign culture. For | :â€Å" , | |example, we all know that the main philosophy in the East is the Confucianism. Confuciuss | † , |theory considers the characters cultivate and calls for people to show their humanness. | , , | |Confuciuss remarks are well-known in the world. He said therefore you unbar on the journey on | , , | |revenge, dig two graves. These remarks make a point of warning people that everyone should know| , ,? â€Å" , | |how to build up a good relationship with others. Moreover, based on the careful observation, the|, , † , | |experts of China come into a conclusion that there are three types of Confucianism. The first |? , ,.. | |one is exclusive reverence of Confucianism, then is the complementation of Confucianism and | | |Taoism, such as the idea of in obscurity, scholars would maintain their own integrity; in times| , | |of success, they would make the whole empire perfect . The third one is to combine | , | |Confucianism, Buddhism and Taoism into one. Most of them have widely accepted and learned by | | |different nations.. | , , | | | , , | |Another important philosophy is Taoism . It reflects the peoples way of life that embodies their| , , , ,| |yearning to be in harmony with nature and try to get the inner peace gradually. The theory of | , | |Taoism can adjust the relationship between nature and human. On the other hand, it offers a good| , |method to release the contradiction between human and environment, even among different ethnic | , | |groups. That is why Chinese culture still takes a great place in the world. There is no need | , , | |denying that Confucius belongs to China, and also belongs to the world. In the eastern world, | , , ,| |there are some other cultures, such as Hinduism, which is the oldest surviving religion, which | | |contributed the concept of Dharma and served as the origin of the Dharma religions, and Islam | | |the majority of the world Muslim population have always lived in Asia, due to the influence | ,? | |of the Islamic civilization. The world is notably characterized by diversity because of their | | |existence. | , , | |Actually, China and the east world have lost and gained many things from globalization. When | , | |lots of people consider the globalization as Americanization, China is influenced by the | | |tendency. When we walk in the street, we can find KFC or McDonald. They caused a notable impact | | |on the conventional food industries . Most people appreciate the products which are made by | , | |Korea, Japan, or USA. The result is the domestic capital has out flown into other countries . Not| ,| |only do the western products influent our life, but also their values. This is an obvious | , , | |difference. Individualism and Collectivism are central to all the cultural values. China belongs| , | |to the collectivist culture while the United States belongs to the individualist culture. But | , | |what we have to consider is not try to eliminate these distinctions, but to find a way to | | |combine them. And there is a typical example to prove my view. | | | | , â€Å" | |China has nearly several thousand years history in architecture and wood construction is the | † , , |main form in building. But nowadays, timberwork builds bright still humanness to see. Why? | , , , (? | |Because this ancient architecture culture has be greatly replaces by steel structure which | ) | |derived from western culture. We can not deny that the Reinforced Concrete Brick Structure | , | |offer much convenience to our life, but when we learn from the more advanced culture, should we | | |pursue it at the expense of our own precious traditional culture? | | | , , , | |But the western architectural style which is brought by globalization really have a good effect | , | |on o ur traditional architectural style. I have read a passage which analyzes how does an | , , | |architect build adjacent to a world heritage site. Too often, the answer lies in overstatement,| | |though not for I. M. Pei. Modesty of scale and materials, born of sparseness, prescribed limit, | | |and simplicity, mark the Suzhou Museum. The person (Ieoh Ming Pei) I mentioned above is a famous| | |American Chinese architect. As the last master of modernism architectural style, he designed the| | |Suzhou Museum which connects the western and eastern style very well. You can feel the harmony | | |in his building art. | | | | |So, Chinese culture, even Oriented Culture just belongs to one of the Multicultural, and we | | |should give it a proper status. We have to exclude the old and wrong part, and absorb the | | |advanced factors, then our culture can adapt to the globalization better and better. | | | | | | | |Advantages and Disadvantages of Globalization |Some Disadvantages | |Some Advantages | | |Increased free trade between nations |Increased flow of skilled and non-skilled jobs from | |Increased liquidity of capital allowing investors in developed nations to invest in developing |developed to develop ing nations as corporations seek out the| |nations |cheapest labor | |Corporations have greater flexibility to operate across borders |Increased likelihood of economic disruptions in one nation | | Global mass media ties the world together |effecting all nations | |Increased flow of communications allows vital information to be shared between individuals and |Corporate influence of nation-states far exceeds that of | |corporations around the world |civil society organizations and average individuals | |Greater ease and speed of transportation for goods and people |Threat that control of world media by a handful of | |Reduction of cultural barriers increases the global village effect |corporations will limit cultural expression | |Spread of democratic ideals to developed nations |Greater chance of reactions for globalization being violent | |Greater nterdependence of nation-states |in an attempt to preserve cultural heritage | | Reduction of likelihood of war between developed nations |Greater risk of diseases being transported unintentionally | |Increases in environmental protection in developed nations |between nations | | |Spread of a materialistic lifestyle and attitude that sees | | |consumption as the path to prosperity | | |International bodies like the World Trade Organization | | |infringe on national and individual sovereignty | | |Increase in the chances of civil war within developing | | |countries and open war between developing countries as they | | |vie for resources | | |Decreases in environmental integrity as polluting | | |corporations take advantage of weak regulatory rules in | | |developing countries | | | | Do you think the benefits brought about by economical globalization are equally distributed among countries? While the world as a whole has benefited from globalization, there are negative and marginalizing aspects of globalization. These are what have led to a backlash, as reflected to a certain extent in the demonstrations by civil society accompanying recent international conferences, and by increasing expressions of dissatisfaction at the governmental level. 1. Unbalanced Distribution of Benefits: Between Countries. The first negative aspect of globalization is that its gains are not equally distributed, both between and within countries. Examples of the badly skewed distribution among countries of the benefits of globalization can be gleaned from the following data from the period1980 to 1997: While world per capita income increased, per capita income contracted in fifty nine countries, widening income disparities. Exports of goods and services grew at less than 5% annually in 46 countries, and at less than 1% a year in 9 countries. Within Countries. The benefits of globalization are also badly skewed within countries, both developing and developed. Income inequality is rising in many countries, particularly in the OECD countries. Worse, job and income insecurity is increasing, particularly for unskilled labor, although corporate restructuring has also meant job insecurity for professionals. Within developing countries, the increased world agricultural prices expected to result from the Uruguay Round should benefit those in agriculture. The urban poor will suffer when food prices rise, but will gain from employment in new export industries. Young women hired by multinationals are likely to benefit most – their incomes increase, with a concomitant increase in their household status. Consumers also gain from the reduction in local prices due to increased competition from abroad.

Funny Good Morning Quotes to Wake up Smiling To

Funny Good Morning Quotes to Wake up Smiling To The alarm goes off. You put it on snooze, trying to grab some shut-eye for the last time. And then you wake up with a start, as you realize that you are already late for work. Does this scenario sound familiar?  Many of us wake up every day under a dark cloud. We sleepwalk through the morning routine of bath and breakfast. Even after getting fully dressed, we look longingly at the bed.If its typical for you feel woozy and barely able to open your eyelids before your morning dose of caffeine, read these funny good morning quotes and start your day with smiles and giggles. A hearty laugh can fill you up with enough endorphin to recharge you for the day ahead. Famous Morning-Themed Quotes Winston ChurchillI may be drunk, Miss, but in the morning I will be sober and you will still be ugly.Robert FrostThe brain is a wonderful organ; it starts working the moment you get up in the morning and does not stop until you get into the office.William FeatherEarly morning cheerfulness can be extremely obnoxious.Steven WrightI got up one morning and couldnt find my socks, so I called Information. She said, Hello, Information. I said, I cant find my socks. She said, Theyre behind the couch. And they were!:Bob DoleYou feel a little older in the morning. By noon I feel about 55.Dale EarnhardtI woke up this morning, and I still don’t believe I won the Daytona 500.Henry David ThoreauThere is no snooze button on a cat who wants breakfast.Groucho MarxOne morning I shot an elephant in my pajamas. How he got into my pajamas I’ll never know.Benjamin FranklinI wake up every morning at nine and grab for the morning paper. Then I look at the obituary page. If my name is not on it , I get up. Will RogersThe man with the best job in the country is the vice-president. All he has to do is get up every morning and say, How is the president?Mitch HedbergI recently took up ice sculpting. Last night I made an ice cube. This morning I made 12, I was prolific.Steven WrightWhen I woke up this morning my girlfriend asked me, Did you sleep good? I said No, I made a few mistakes.Bill GatesJust in terms of allocation of time resources, religion is not very efficient. There’s a lot more I could be doing on a Sunday morning.Henry David ThoreauI have a great deal of company in the house, especially in the morning when nobody calls.Rodney DangerfieldMy mother had morning sickness after I was born.Rodney DangerfieldThis morning when I put on my underwear I could hear the fruit-of-the-loom guys laughing at me.Colin PowellIt ain’t as bad as you think. It will look better in the morning.Frank SinatraI feel sorry for people who don’t drink. When they wake up in the morning, that’s as good as they’re going to feel all day. Lyndon B. JohnsonIf one morning I walked on top of the water across the Potomac River, the headline that afternoon would read: President Can’t Swim.Jim CarreyThat’s the trouble with being me. At this point, nobody gives a damn what my problem is. I could literally have a tumor on the side of my head and they’d be like, ‘Yeah, big deal. I’d eat a tumor every morning for the kinda money you’re pulling down.’Ray BradburyEvery morning I jump out of bed and step on a landmine. The landmine is me. After the explosion, I spent the rest of the day putting the pieces together.Jeff FoxworthyMy father-in-law gets up at 5 o’clock in the morning and watches the Discovery Channel. I don’t know why there’s this big rush to do this.Gabriel Garcia MarquezThe problem with marriage is that it ends every night after making love, and it must be rebuilt every morning before breakfast.Ozzy OsbourneSomebody said to me this morning, ‘ To what do you attribute your longevity?’ I don’t know. I mean, I couldn’t have planned my life out better. By all accounts, I should be dead! The abuse I put my body through the drugs, the alcohol, the lifestyle I’ve lived the last 30 years! Seth MacFarlaneSome of those more out-there jokes were written in the wee hours of the morning. Somehow, they remained funny the next day.Zora Neale HurstonIt seems to me that trying to live without friends is like milking a bear to get cream for your morning coffee. It is a whole lot of trouble, and then not worth much after you get it.Mick JaggerYou wake up in the morning and you look at your old spoon, and you say to yourself, ‘Mick, it’s time to get yourself a new spoon.’ And you do.Carl SandburgIn these times you have to be an optimist to open your eyes when you awake in the morning.Emo PhilipsWhen I wake up in the morning, I just can’t get started until I’ve had that first, piping hot pot of coffee. Oh, I’ve tried other enemas.Bob DoleYou feel a little older in the morning. By noon I feel about 55.Michael J. FoxI’m going to marry a Jewish woman because I like the idea of getting up Sunday morning and going to the deli.Rose Kennedy Make sure you never, never argue at night. You just lose a good night’s sleep, and you can’t settle anything until morning anyway. Honore de BalzacA good husband is never the first to go to sleep at night or the last to awake in the morning.Robert OrbenEvery morning I get up and look through the Forbes list of the richest people in America. If I’m not there, I go to work.

Freinheit 451 Term Paper Example | Topics and Well Written Essays - 750 words

Freinheit 451 - Term Paper Example The book is an excellent piece that combines enchantment with enlightenment and awakens the imagination of humanity. Fahrenheit 451 is set in the twenty-fourth century and brings up a new environment where the media controls the people, in addition to the problems of overpopulation and censorship. An individual citizen is not readily accepted and the intellectual is seen as an outlaw in that society. In this society, television has taken up the common belief of family ties. The fireman has become an igniter of fire and destroyer of books instead of an insurer against fire and its dangers. Books are seen as evil and illegal because they influence people to think and ask questions about the way things are done in that society. The story begins with an incitement where Montag meets Clarisse McClellan. Montag works as a fireman who burns books for a living. One day as he walks home from work, Clarisse who introduces herself to him approaches him. Clarisse is young, beautiful, and energet ic. She presents herself as an antithesis of anyone that Montag has ever met as she engages in a conversation with him especially in things that Montag has never considered. She is very inquisitive and she ponders about things such as love, happiness and the contents of the books that Montag burns. This character fascinates Montag (Bradbury, 1967). Over the next several days, Montag encounters a series of disturbing events that begin with his wife, Mildred, wanting to commit suicide through swallowing a full bottle of sleeping pills. This is followed by a strange occurrence that he encounters as he responds to an alarm about an old woman who has a stash of hidden books. When he reaches there, the woman stuns him by choosing to be burned along with her books. A few days after this, he learns that young Clarisse has been hit dead by a speeding car. This heightens the dissatisfaction in his life and he begins to find a solution by reading books from the stash that he stole from the fir es he started. When Montag fails to report to work, his manger visits him at his home and explains to him that it is normal for a fireman to wonder what books give and he elucidates how books came to be burned. As Beatty explains, special interest groups and other minority groups laid their objections to books that offended them. Soon, all books were written with intent not to offend any person. He explains that this was not enough and the society as a unit decided to burn books instead of permitting differing opinions from authors. Beatty tells Montag to take 24 hours, read the books, and find out whether they have anything important and then give them off for incineration. This turns Montag into a long and frenzy night of reading (Eller & Touponce, 2004). When he becomes overwhelmed of reading, he turns to his wife for support but his wife prefers television to his company and does not understand why her husband takes the humiliating task of reading the books. When he remembers Pr ofessor Faber, he decided to visit him so that he can help him. Faber tells him that the value of the book is in the awareness of the life in them. He tells Montag that he needs the leisure to read them and the freedom to act upon the ideas of the books and offers to help him read. Faber will contact a printer to reproduce books and Montag will plant them in the residence of firemen to harm the reputation of the profession and destroy censorship. This leads to a completely

The Promise and The Blessings Assignment Example | Topics and Well Written Essays - 250 words

The Promise and The Blessings - Assignment Example I have known many incidents where God provided for him. When God instructed Moses, along with his brother Aaron, to deliver the Israelites out of slavery in Egypt under Pharaoh, God assured Moses that he does not have to worry as God will perform all those plagues, and will eventually soften Pharaoh’s heart in the end. When I read the first chapter of Exodus, it says, Then the LORD said to Moses, ‘Now you will see what I will do to Pharaoh: Because of my mighty hand he will let them go; because of my mighty hand he will drive them out of his country.† Indeed, the Lord fulfilled this promise. He, through Moses, set the Israelites free from slavery. I also read in Exodus 33:14 that, The LORD replied, â€Å"My Presence will go with you, and I will give you rest.† I read a verse, which fulfilled this promise. In Exodus 13:21-22, it explained how the Israelites were guided by the Lord in the form of pillars of clouds. Surely, God was with Moses and the rest of the Israelites as they traveled into the Promised Land, which God has given. He guided them and provided for their

Use Of Green Building Constructions Environmental Sciences Essay

Use Of Green Building Constructions Environmental Sciences Essay India is the Seventh largest country in the world and it has population of 1.24 billion as of 2012 according to World Population Review 2012. As of 2012 India experienced a growth of 5.5% in its Gross Domestic Product (Money Control, 2012). In the same year, the Construction industry Experienced a growth of 6.6%. During the year 2011, construction industry was valued at Rs.18.5 trillion (Reportlinker, 2012). Indian Green Building Council was started on 2001 by Confederation of Indian Industry. The aim of this council is to increase green building construction in India and to make India one of the leaders in green buildings of the world. Benefits from green buildings can be both tangible and intangible . Most important benefit from construction of green buildings are reduction in usage of water and energy costs during the construction of building. The tangible benefits by using green buildings are saving water sources at 30-50% and energy sources by 20-30%. The intangible benefits in construction of green buildings are clear vision of day lighting, health and wellbeing of the occupants, conservation of national resources and enhanced air and marketability of the project (Indian Green Building Council,2008). Indian Green Building Council is a system designed for rating residential buildings which include Gated communities, Residential apartments, Retrofitting of residential buildings with accordance to Indian Green Buildings Council (Indian Green Building Council, 2008). The increased growth in economic activities of any country is causing pressure on environmental and natural resources. There is evidence that an irreversible damage is caused to global environment due to human activities, which have an impact on quality of life for future generations. This concern for environment due to global warming has caused governments to search for sustainable solutions. In India, the real estate industry is the main contributor for global warming due to emission of greenhouse gases released due to energy use from buildings. Hence, there is a necessity for developing sustainable green buildings and technologies in the construction industry. Compared to the world average growth of 5.2% in construction industry, India is growing rapidly with a rate of 10% and also 20% of total electricity is consumed by buildings in India (Lang and Meghraj, 2008). This shows that it is a great opportunity to instigate construction of green buildings or sustainable buildings in the country. In some cases developers have to face a lot of challenges since construction of green buildings will cost a lot for some cases. Green Buildings Development: Sustainable development is often defined as à ¢Ã¢â€š ¬Ã‹Å"Meeting the needs of the present generation without compromising the ability of future generations to meet their needs.à ¢Ã¢â€š ¬Ã¢â€ž ¢ (Brundtland, 1987). Sustainable development is conceptually divided into three types. They are Economic Sustainability, Social Sustainability and Environment Sustainability (John Elkington, 1999). Performance of industrial economy is always been measured by financial outcome. Striking a balance between the above three constituent parts will be a key in achieving sustainable development. In India real estate industry is the major energy consumers and Greenhouse Gas emitters. 38% of global energy is being consumed by real estate industry and almost 3,800 tonnes of greenhouse gas is emitted every year, according to a report done by Intergovernmental Panel on Climate change in the year 1996. This report has not included usage of any other resources such as water. Due to increased global warming, depleted sources and consumer pressures had pushed the need for sustainability in construction industry secto r (Lang and Meghraj, 2008). Sustainability in construction industry is not limited to energy conservation also includes resource usage, working conditions and also neighbour surroundings. This situation has given rise to development of sustainable buildings. The green building usually emphasises reduction of environmental impacts on a integrated approach to land, construction strategies and building uses in a sustainable way. Usually a green building uses less amount of energy, natural resources and water when compared to other normal building. By construction of sustainable buildings less amount of construction waste is generated and it also helps in providing healthier environment for people living in it. Green buildings have sustainable features like sufficient use of water, energy and eco-friendly environment, usage of recycled materials, renewable energy, landscapes, effective building and control management systems (Lang and Meghraj, 2008). The benefits of sustainable building usually depend on the extent at which they are used during the planning and design state. A green building will be successful only if it is included starting from the design state. The considerations that are taken into account in design of green building are supply chain starting from material sourcing, recycled resource use, civic amenities, modelling of energy and finally waste disposal for occupiers education. Sustainable Buildings in India: In India, green building movement started with establishment of Indian Green Building Council in 2001, which was started by CII (Confederation of Indian Industries). The first sustainable building was constructed on July 14 2004 at Hyderabad named as CII-Sohrabji Godrej Green Business Centre (Lang and Meghraj, 2008). In India there are about 18 LEED certified green buildings with an area of about 110 million sq ft by the end of 2007 (CII-Energy Efficiency in Building Design and construction, 2010). In India, the construction industry is considered to be one of the biggest emitter of Greenhouse Gases. 20-25% of consumed electricity by government buildings is being wasted due to incapable design, according to a report submitted by Ministry of power in June 2004. This is the same scenario in private sector. Merits and Cost of Sustainable Buildings In India: The main difference between normal and green buildings are that green buildings have improved indoor environment and also operational savings. The economic advantages of green buildings will not be visible immediately, since the lifetime payback is higher compared to that of normal buildings which mainly come from cost savings, reduced carbon emission and higher capital or rental values. The social advantages are due to increased green buildings in the environment. It also helps in increasing tenants and decrease their health problems due to better working condition. In India, the payback of platinum rated building will range from 5 to 7 years where as gold rated and silver rated building have a period of 3 to 4 years (Lang and Meghraj, 2008). The common notion among Indian developers is that construction of green buildings is costlier when compared to normal buildings and it will take a long time to get payback on sustainable buildings. This reason is due to mainly following: green buildings are still in the stage of developing, not having enough technical information on green buildings, execution of sustainable buildings are still inept, preferring short returns instead of focusing on life term returns (Lang and Meghraj, 2008). Cost Premium of Green buildings in India ranges from 6-18%, it depends on the ratings (Confederation of Indian Industry, 2008). There are green building rating systems which give information about changes, effort by the owners invested on achieving a good performance sustainable building and environmental benefits of the land. The sustainable building rating systems are as follows: BREEAM (Building Research Establishment Environmental Assessment Method, used mostly in UK) LEED (Leadership in Energy and Environmental Design, used mostly in US) Green Star (Used mostly in Australia and New Zealand have their own type of Green Star) NABERS (National Australian Built Environment Rating System) LEED in India by Indian Green Building Council GRIHA (Green Rating for Integrated Habitat Assessment) Cost Analysis of Green buildings: In words of Greg Kats Principal of capital (a consultancy focusing on clean energy), he says that there is big difference between operating cost and capital cost of sustainable building. Why Did I Chose Green Building Constructions and Their Cost Efficiency in India: Most people in India know about Green Buildings, but dont know the procedure how to start and what are the methods to be taken care in starting a sustainable construction. We have lack of information on Sustainable buildings and Government of India must educate people on sustainable buildings. Construction of green buildings started in India recently during the year 2004 until then people where constructing residential buildings, non-residential buildings including government buildings in normal ways. My aim in choosing this topic is to show that even though green buildings are costly but in lifetime they can get their payback and also provide healthy environment to neighbours and occupants. Government should help in providing financial help for constructing sustainable buildings in India.

Lease Versus Purchase Essay

When operating a successful business, it is important to consider operating costs and expenses related to producing or being able to provide a certain good or service. In some cases, it is more beneficial for a business to lease equipment needed for production or manufacturing and in other instances it is financially favorable to purchase equipment. This paper will compare the factors involved in deciding whether to purchase or lease equipment. Types of Leases The term â€Å"lease† is essentially the same as the term â€Å"rent†, as both have identical meanings. There are two different types of leases, an operating lease and a financial lease. Both types provide the use of an asset, but with some very different rules. An operating lease is typically used for equipment or vehicles and can be cancelled by the lessee with proper notice. The timeframe of the lease is usually less than the expected life of the item, and will sometimes include a maintenance contract built in. The lessor hopes to either sell the asset or release it at the end of the initial lease. A financial lease, aka a capital lease, cannot be terminated early. Financial leases also do not include maintenance contracts, and are usually set for the life expectancy of the item. The purpose for the lessor is to gain their initial investment plus a return on the asset, and is thus like debt financing. Lease vs. Purchase If a company wants to obtain the usage of an asset such as cash, plant or equipment, without the obligation of purchasing the item, then a lease is the best option. Leases can be classified as short term or long-term debt just depending on the amount of time contracted. The key considerations a  company must consider when trying to decided whether to purchase or lease an asset is the net present value of purchasing versus leasing. The factors that affect the value are depreciation, taxes, length of lease payments, life span of asset, and any residual or salvage value of the asset. Leases are accounted for on a company’s balance sheet as long as one of the following occurs; the lease transfers ownership at the expiration, the lessee may buy the asset below its value at the expiration, length of lease is more then 75 percent of the expected life span, or the present lease payments exceeds 90 percent of the fair market value of the property (Mayo, 2012). Financial leases though, must be capitalized where as operating leases may not have to be placed on the balance sheet, but should be noted in the footnotes. Even though financial leasing may sound similar to debt financing of an asset, keep in mind that the lessor will obtain any residual value of the asset, whereas if purchased, the salvage value would remain with the purchaser. Leasing offers higher tax deductions, but potentially understates a companies assets. Purchasing usually requires a higher initial cash outlay (Newman, 2006), but may offer higher assets and better return on investment in the long run. Determining which option of leasing or buying is better will ultimately depend on the time value of money (Mayo, 2012). Application of Time Value/Money Concepts in Evaluating Lease vs. Purchase Decisions When deciding on whether on whether to lease or purchase assets for your company, there are a few different factors to consider. One of those important factors is the time value of money. According to â€Å"Financial Dictionary† the time value of money can be defined as â€Å"the idea that a dollar today is worth more than a dollar in the future, because the dollar received today can earn interest up until the time the future dollar is received† (2015). To determine which option, leasing or purchasing, would be financially beneficial for the business, the present value of each should be calculated. The present value formula will give you the cash flows associated with leasing or purchasing the asset (Mayo, 2012). To calculate the present value of a single sum of money one would divide the Future Value (FV) by (1 + i)n where i is the interest rate per compounding period and n are the number of compounding periods (â€Å"Present Value Of A Single Sum Of Money†, 2013). Conclusion There are many factors and applications to consider when making the decision between leasing and purchasing. Factors such as the assets life expectancy, company’s tax bracket, and payment schedule are just a few to be considered when determining which option is best for a company. Understanding the time value of money, is just one of the few considerations a company must review so that its financial officers can make educated business decisions. References Financial Dictionary. (2015). Retrieved from http://financial-dictionary.thefreedictionary.com Mayo, H. B. (2012). Basic finance: An introduction to financial institutions, investments, and management (10th ed.). Mason, OH: South-Western. Newman, P. (2006). Leasing vs Buying: Which is Best for You?. Retrieved from http://www.entrepreneur.com/article/169332 Present Value of a Single Sum of Money. (2013). Retrieved from http://accountingexplained.com/misc/tvm/pv-single-sum

Essay Samples of How to Bring Deversity to College Help!

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