Islamic architecture 2 Essay Example | Topics and Well Written Essays - 1250 words

Islamic architecture 2 - Essay Example The beginning of Islamic Architecture takes place with the construction of the Great Mosque at Cordoba in the Iberian Peninsula. Muslims as well as the Christians consider it a wonder of the medieval ages. The construction of great mosque of Cordoba initiated in between â€Å"784 and 786 at the site of a Christian Visigothic Church† 2. In specific, Abd ar-Rahman acquired the church, and subsequently, his grandchildren modified it over two centuries to transform it into a religious entity, starting in 784. The mosque itself was built in four phases  and is observed as a trademark of sacred Islamic architecture. Ferdinand III king of Castile took over Cordoba in 12363 and sanctioned the Great Mosque as the cathedral of city, Mezquita, and used it with negligible changes for the next three centuries4. In 929, when Abd al-Rahman III5 confirmed himself caliph, and the Spanish Umayyads attained the peak of their supremacy. The caliph built the fortress capital of Madinah al-Zahra about thirteen kilometers Northwest of Cordoba, with its focus to impress the world and exhibit its massive military. He made it his empires managerial and legislative headquarters. The construction in Medina al-Zahra proceeded speedily, particularly since Abd al-Rahman III put in one third of the state revenues in its progression. Finally, he brought in the largest and most grand secular venture of his period, which stayed matchless irrespective of the numerous cities founded until its end. As the caliphate fell in the 11th century, the city then was sacked and smoldered. The new Minister of Caliph Hisham II, Vizir-ul-Mansur6 shifted his concentration towards the east of Cordoba and deserted the city during his reign. Later, the Berber troops destroyed this palace-city in 10107. The Great Mosque of Cordoba is most illustrious for its gigantic arches, with approximately eight hundred fifty six pillars of natural stones. These legendary

FAP Essay Example | Topics and Well Written Essays - 1250 words

FAP - Essay Example Academics prefer the net present value (NPV) method because it has theoretical validity; accounting managers tend to use the internal rate of return (IRR) method (Lefley & Ryan, 2005). Surveys and case studies have been conducted to pinpoint managers’ feelings on the theoretical versus the practical applications of capital budgeting (sometimes termed capital investment appraisal). Even though considerable research has been undertaken, no definite conclusions have been drawn as to why managers reject academics’ recommendations on sound theoretical models (Lefley & Ryan, 2005). The more sophisticated theoretical models have been studied in relationship to improved firm performance (Pike, 1989), with inconclusive results. The NPV method has some shortcomings; the value added can be measured for most investment decisions. Other models such as payback and accounting rate of return are also useful in analysis, and managers continue to use their intuitive judgment and more basic financial models. Improved efficiency in project selection should logically lead to improved overall performance. Small & Chen (1997) suggest that combining a strategic and an economic approach results in greater project selection efficiency and higher success rates. Lefley & Ryan (2005) that this idea one step further and comment that there are three main considerations in any investment decision: economic, strategic, and project specific risk. By combining these three elements in one model, the impact of investment decisions can be more accurately pinpointed. As stated earlier, researchers and analysts have found that managers utilize a combination of risk assessment models and financial appraisals for practical investment evaluations, and prefer not to rely on any one model, no matter its theoretical soundness (Lefley & Ryan, 2005). One danger of choosing a single model could arise when subordinate managers maximize benefits and minimize costs and risks when they put