International Business Essay Example | Topics and Well Written Essays - 1000 words - 4

International Business - Essay Example who pointed to the small current-trade between Canada and Mexico, Mexican competition with Canadian goods in US markets and the supposed failure of the then existing Canadian-US trade agreement. Today, after sixteen years does the Canadian experience confirm the fears of the critics or did NAFTA live up to the expectations? For Canada, the NAFTA is an improvement on its previous trade agreement with the United States – the Canada-US Free Trade Agreement (CUFTA) - in a number of respects. Canada now has an extension of duty drawbacks and greater discipline over standards, which should reduce border conflicts with the US. I would like to underscore, as well that the best part of the agreement in my opinion is that Canada, along with the US and Mexico have the same low or zero most favored nation tariff on imports such as computers. This old custom union model has huge advantages because rules of origin are not required for trade in that product within the union. In addition, Canada also reaps some benefits in the area of agriculture. Between 1991 and 2002, Canadian exports absorbed by the United States rose from 39 to 67 percent. (Volrath 2004) The Canadian oil is also gobbled up exclusively by the United States along with its underlying strategic political mileage for the country. On the economic side, investments also poured in, particularly those from foreign companies who want to access the NAFTA market. In a way, this fact provides an argument against those NAFTA critics who argue that investment is lost to Mexico due to cheap labor. As it is, there are countries and firms who prefer Canada over Mexico because the country’s labor pool is skilled and educated; and over the US, because of the appeal of lower costs and a moderate tax regime. This is underscored by the tremendous rise in the foreign direct investment in the country. Annual figures during the first seven years of NAFTA reflected an average of $21.4 billion investment s for the country, almost

The Adjusting Process discussion Assignment Example | Topics and Well Written Essays - 250 words

The Adjusting Process discussion - Assignment Example In certain cases, the records are not reorganized except at the closing stages of the period. The adjustments are updated because certain expenses are never recorded on a daily basis, certain revenues and operating expense are acquired as business transpires rather than as a detached transaction and certain revenues and operating costs may not be recorded. The four categories of accounts that require adjusting entries include; prepaid expenses, accrued expenses, unearned revenues and accrued revenues (Warren, Carl, James, and Jonathan 105). In accordance to ethics, there are dictations that a commodity ought to have a precise date by which money ought to be recompensed to the buyer in cases where the commodity has not been utilized as a charge up to the moment it is either utilized or recompensed. This means that the gift card ought to have an expiry date to ensure that fairness is dictated. A gift card assures that the buyer’s money is not used up at the same situate where they purchased the card. The implications are that accounting for the cards transaction offers an evolving reporting for vendors. The accounting for the previous transaction for the cards cannot reveal any reputed worth but rather a legal responsibility for overdue profits and the unused cost creates problems in