International Business Law Assignment Example | Topics and Well Written Essays - 2500 words

International Business Law - Assignment Example The overall importance of WTO is critical regarding establishing a link between trade and environment because it is the single most important document which governs the international trade. The growing debate therefore is focused upon the potential role of WTO in clearly establishing a link between global trade and environment. Prescription of different standards as well as the framework therefore is one of the key tasks which WTO has to perform in order to comprehensively establish the link between the two. This paper will discuss the linkages between trade and environment and how it has remained on of the important challenges for international business law. This paper will also discuss as to what steps by WTO during last decade to properly address this issue within the perspective of international trade. Environment and international trade Trade is considered as beneficial for the society and the economy and its liberalization can actually help any society to achieve greater econom ic resources. It is critical to understand however that with increased trade and production processes, the overall pace of economic degeneration can expedite and the results can be both negative as well as positive. Environment can be protected if cleaner technologies are implemented which involve less energy consumption besides relying more on labor intensive techniques. The environment can also be damaged because growth in production process requires more energy and raw materials and hence more environmental de-gradation can take place. There is therefore a nexus between environment and international trade and how expansion of international trade can actually result into both the protection as well as degradation of environment. (Charnovitz, 2007.) Serious efforts to actually integrate concerns for environment and international trade started during 1970s and as a result of this growing debate, an international conference in Stockholm took place to debate on the future course of de fining how international trade agreements can actually affect the businesses with significant potential to damage environment. Prior to this conference, GATT undertook a study on its own behalf to determine and explore the impact of environmental protection policies on international trade. In same year, Environmental Measures and International Trade Group was established however, it remained inactive for more than two decades and it was only in during 1992 that this group was convened by members. (Charnovitz, 2007.) Subsequent legislative efforts include Tokyo round and Uruguay round went on to establish different standards and kick started the process of integrating international trade with that of the environment protection. There was also growing concerns among developing countries regarding the export of those products which were considered as environmentally damaging with serious safety and health related issues. The overall debate was therefore based upon the argument that fre e trade has an impact on the environment and that higher levels of free trade can further result into damage to the environment. (Charnovitz, 2007.) The recent efforts however by WTO clearly outline the way the nexus between free trade and environment. Though WTO

Accounts Receivable Research Paper Example | Topics and Well Written Essays - 750 words

Accounts Receivable - Research Paper Example If such settlement is made between the company and its customers, the amount owed to the company by the customer is shown in a separate account known as account receivable. This accounts help in establishing long-term relationships between a customer and a company. However, account receivable is usually opened in the case of the customers only whose credit risk is above a certain criteria and whose past history with the company is good. The account receivables are also opened in a case where sale is made or service is provided, the invoice has been raised against the customer but the amount has not yet been received as the money is in the course of transit. This may be the case where the money is in transit, that is, in transit if sent through a banking channel or in transit in the route of courier. The sale and revenue is recorded as soon as the invoice is raised against a certain transaction. The invoice is sent to the customer who, after receiving the invoice, sends money to the company. Even if no settlement in respect of deferring the payment has been made between the company and the customer, some time may lapse between the course of the procedure. During this period, the company opens an account against the customer known as account receivable in which the amount owed by the customer is shown. Accounts receivables are shown in the Balance Sheet as a separate head of account in the current assets. The movements in account receivable are made through the payments received and the sales made or the services provided in respect of which payment has not been yet received. The balance is shown in the balance sheet. It may also happen that some of the account receivables are gone bad in the period, such as the customer has gone into liquidation. In such a case, the money owed by the customer or a portion thereof will be written off by charging an expense in the profit and loss account as a