Alternative Media OR Beauty in Contemporary Art

Sample Solution

Alternative Media OR Beauty in Contemporary Art Beauty plays an important role in contemporary art. People are naturally attracted to beautiful things, and if the art work is widely considered beautiful, the beauty plays a role of first “catch” to many viewers. Beauty is subjective to each person, and artists can only create what they consider beautiful. Beauty is the confirmation of meaning in life. It is the thing that seems invulnerable, in some cases, to our touch. However, works of art don’t have to be beautiful, but we must acknowledge that aesthetic judgment plays a large part in the reception of art. Beauty might not be an objective quality in the work of art, nor is it a rational way for us to argue for the cultural importance of an object.

For example, managers should not only take into accounts the costs, revenues, incomes, etc. But also the less obvious factors such as the competition environment, interest rates imposed by the government, future operating conditions and any other uncertainty associated with the costs and benefits contribution. Stage 3 and 4 : The choice of decision rules and ranking of alternative courses of action Making competent decisions depends on two indispensable criteria selected by managers:

1. The appropriate basis for decision making
2. The types of data to use in decision-making and, by implication, the types of data not to use.

Decision means choices, thus decision-making implies making choices between alternatives, competing course of action. If there is no available alternative, then decision-making is not necessary. Management has to assess whether choosing a particular product X has the overall benefits or choosing an alternative, Y i.e. compare the two products, and weight up any differences between choosing on and not the other. Management accounting is a key part in an iterative decision making process:

• Alternative courses of actions are identified.
• Estimating is made of the results of each alternative.
• Preferred courses of actions are chosen in terms of business objectives.
• Actual results are compared with corresponding estimates.
• New course of action are identified.

This is a continuous process. The fundamental question for consideration here is, “How is management to choose from among these so many possible alternatives so as to maximize the present value of the expected future cash flows?” The answer to this question is indirect. Each potential alternative will have different cash consequences and change continuously with time. Therefore, analyzing the differences between available alternatives is essential to good decision-making. This analysis is called ‘differential’ or ‘incremental’ cash analysis. This basically gives man