Topics in cultural studies Research Paper Example | Topics and Well Written Essays - 750 words

Topics in cultural studies - Research Paper Example Western civilization was often founded on the ideal of the existence of some form of hierarchy that determined the manner in which cultures related on the score of power. Stronger cultures have a tendency of influencing weaker cultures in the multiple discourses that bring both cultures into contact with each other. On this score, it is often assumed that cultural expression of one culture will necessarily determine the nature and extent to which such a culture expresses its own values with other cultures. Western cultures adopted a central perspective in which they assumed that all other cultures were essentially inferior. The discourse of culture was considered in terms of the hierarchy that existed between western cultures and the other cultures (Hause & Maltby, 2004). The manifestation of the struggle often entailed an active engagement with the hierarchical determination of the relative strength and weaknesses between the cultures. As a result, only the cultures that had their i nternal structures managed to overcome the stifling influences of western cultures. The power of cultural expression worked in a manner that brought together the various discourses that embraced western cultures and non-western cultures. ... Western civilization adopted philosophies that determined perspectives on other foreign influences. It might be argued that some of the discourses that defined the world outside the boundaries of western civilization essentially determined the manner in which these civilizations engaged with other forms of civilization. The discourses of orientalism, racism, and colonialism were necessarily conditioned by cultural perceptions of the presumed superiority of western civilization to other forms of civilization (Sherman, 2006). For instance, the west considered the East within the discourse of orientalism. There was a sense in which the East was considered as an alien culture and necessarily inferior to western culture. Such perceptions also underpinned the desire to conquer and subdue any other cultures that were perceived as inferior. The deliberate misrepresentation of cultural facts was meant to make the other cultures subordinate to western civilization. Such cultural perceptions ju stified the need to conquer foreign lands and to subdue other races that were defined by the relative weaknesses of cultural civilizations. Matters of cultural superiority might be considered in terms of the manner in which they engaged with processes that determine the relative strength between cultures. Essentially, other cultures were considered as inferior and deserving to be conquered and subdued. It might be necessary to consider the element of civilization within the broad perspective of cultural relationships. Assumptions of strength within the framework of cultural expression were considered as the pivotal point, which determined the kind of relationship between the west and

Accounting for Leases and Accounting for Provisions Assignment

Accounting for Leases and Accounting for Provisions - Assignment Example The present value is arrived at after discounting the lease payments based on the interest rate that is associated with the lease payments. Similarly, in the lessee books of accounting the periodic lease payments should be apportioned between the reduction of the current liability and the finance charges. This is done so as to reduce the amount of interest that is paid by the lessee on the regular lease payments. Another significant aspects that lessee should consider is the depreciation of the assets leased. According to IAS-17, the depreciation of property held under lease should be similar to those assets that are owned. However, if it is uncertain that the lessee will own the property, the life of the property or the lease term whichever is lower is considered during the depreciation (Carpenter et al, 1994). One of the key aspects that characterize a lease is that the lessee purchases an asset from a lessor. However, instead of paying cash, it is deemed that the purchase is financed with a loan that is given by the lessor. In this regard, the lessees are supposed to include the loan interest on the lease payments thus decreasing the lease liability. This is computed as follows. Yearly lease payments-Interest expense (initial lease liability * interest rate) =Reduction of the lease liability (Dirsmith and Haskins, 1991). After computation of the lease liability, the lessee makes a journal entry as follows. Dr Interest Expense Account with the amount of interest expense calculated above Dr Lease Liability Account the difference Cr Cash Account amount paid Computing the value of the leased property It is imperative for lessees to determine the value of the asset that will be recorded in their books of account. This entails the amount of cash that the lessee would have paid in case he or she purchased the asset in cash. This is the current value of the minimum lease payments (MLP). To arrive at the minimum lease payments, two major interest rates are considered that include market rate and implicit rate whichever is lower. Part (a) (ii) Problems relating to the recognition and classification of leases in corporate financial statements Classification and recognition of leases in corporate financial statements is a major challenge that is faced by many organizations. This is based on the fact that different forms of leases are differently treated in the financial statements. One of the major problems is whether or not the rewards and risks associated with leases remain with the owners. Key rewards include capital gain as well as the right to sell property (Emby and Gibbins, 1988). On the other hand, risks involved are variations in the amount of returns, loss from idle assets in addition to obsolescence of the technology that is transferred from the lessor to the lessee. Transfer of rewards and risks to lessee The amount of risks and rewards that is transferred to the users is a major challenge that faces the accountants during the accounting treatments of leases. In this regard, it is fundamental for companies to highly recognize the concepts of the agreement between the lessors and the lessee even though the legal form of the agreement is vital. For example, a financial lease encompasses the transfer of all benefits and risks to the lessee (Gibbins and Mason, 1998). If there is no such transfer, then this becomes an operating lease. Similarly, the legal form of a lease may indicate that a company is exposed to few benefits and risks from the property leased but the substance condition of the agreement may indicate a very different scenario. This leaves the accountant with a major responsibility of