Unit 4 Individual Project Essay Example | Topics and Well Written Essays - 500 words - 2

Unit 4 Individual Project - Essay Example on creates the incentive to trade the products you are good at producing in exporting transitions and the goods and services a country is not efficient at producing are imported into an economy. The end result of the trade activity among nation is a better standard of living of all the participating nations in international trade (Nobelprice, 2008). The Ricardian theory was derived from the principles of the Heckscher-Ohlin theory as far as its objectives. The theory is better than Heckscher-Ohlin because it adds the element of labor theory of value into the demand and supply approach used in the Heckscher-Ohlin economic model (Gontijo, 2000). Another major difference is the inclusion of the concept of competitive advantage into the Ricardian theory. Trade activity among trade partners positively affects the distribution of income of the countries involved in the transactions. The Heckscher-Ohlin model demonstrates the positive outcome of trade which increases the distribution of income the resident of nations. The way distribution of income is improved through trade is due to the appreciation of value as direct consequence of trade transactions. For example Argentina is able to produce apples at $1 a pound, and sells them in the open market at $1.75 per pound. In Brazil it cost $2 to produce the same apples, then Brazil has no incentive to produce apples since it can purchase them at $1.75 from Argentina. In the transaction Brazil acquired value in the form of $0.25 which is distributed in the economy of the nation and which positively affects the standard of living of all Brazilians. Factor endowment theory equalizes the relative costs between nations as well as the prices of factors of production (Csus). The principle assumption of the theory is that price equalization is derived from international activity trade among nations. The applicability of endowment theory is greatly enhanced by Leontief theory. The Leontief theory says that a country specialized in

HIV Vaccine Clinical Trials: The Standard of Care Debate Essay

Human immunodeficiency virus type 1 (HIV-1) is a retrovirus infecting approximately 35.3 million people worldwide that leads to the development of acquired immunodeficiency syndrome (AIDS). HIV-1 selectively infects certain host immune cells, including CD4+ T cells, macrophages, and dendritic cells, resulting in the continual depletion of the host immune system (Global Report, 2013). More specifically, HIV-1 prevalence is concentrated in sub-Saharan Africa and other developing countries worldwide. In recent years, there has been much effort devoted to developing an effective vaccine against HIV-1. The vaccine clinical trials are typically held in these developing countries where HIV-1 prevalence is highest. The dilemma that continues to plague vaccine trials in developing countries pertains to the standard of care that should be provided to the participants who inevitably become infected with HIV-1 during the trial (Bloom, 1998). This standard of care debate revolved around top ics such as what type of treatment should be provided to the participants, how long should the treatment continue, will treatment continue after the trial has concluded, who has the obligation to ensure the standard of care protocols are enforced, what are the repercussions in failing to do so, and most importantly, who is paying for all of this (Berkley, 2003). The Declaration of Helsinki clearly endorses the view that all trial participants are entitled to the worldwide best standard of care (Lie et al, 2004). Unfortunately, efforts to devise an accepted standard of care have continued without success since the 1990s (Berkley, 2003). The root of the problem revolves around the expenses associated with treatment. This is an especially difficult ... ... 7. Lie RK, Emanuel E, Grady C, Wendler D. (2004). The standard of care debate: the Declaration of Helsinki versus the international consensus opinion. J Med Ethics 30: 190-3. 8. Macklin R. (2008). Standard of care: an evolution in ethical thinking. The Lancet 372(9635): 284-5. 9. Scott BR, Tsevat J. (2006). Is antiretroviral therapy cost-effective in South American? PLoS Medicine 3(1): 14. 10. Shapiro K, Benatar SR. (2005). HIV prevention research and global inequality: steps towards improved standards of care. Journal of Medical Ethics 31: 39. 11. Specter, M. (2003). The vaccine. The New Yorker 78(45): 56. 12. The Kaiser Family Foundation. Health expenditure per capita (PPP; $US). 2002. 2007. 13. UNAIDS/WHO, 2007 WHO/UNAIDS. Ethical considerations in biomedical HIV prevention trials: guidance document. Geneva: Joint United Nations Programme on HIV/AIDS.

How to Adjust a Trail Balance Essay

A trial balance is created by companies at the end of an accounting period. It contains a list of all accounts within an accounting system that have balances. Companies separate the accounts into different categories, which include assets, liabilities, equities, revenues and expenses. The accounts are listed in order, beginning with assets, and each includes a balance that is either a debit or credit. Asset and expense accounts have debit balances, while the other types have credit balances. Adjusting entries are made to certain accounts to bring their balances up to date. After adjusting entries are made, the trial balance is updated to an adjusted trial balance. Instructions 1 Create a trial balance. Using the company’s general ledger, transfer all accounts and balances onto a 10-column worksheet. Each account name is listed first, followed by the balance in each. The first two columns of the worksheet are designated for the trial balance. The amounts are separated by debits and credits. Total each column verifying that the amounts are equal. 2 Determine what adjusting entries are needed. Adjusting entries typically are used for two different types of activities: accrual and deferrals. Accruals are entries used to record a revenue or expense that has occurred but has not been posted yet. Deferrals refer to entries that have been made previously, but the amount of the entry must be divided between two or more periods. 3 Adjust for accrual of expenses. Several common adjusting entries occur due to the accrual of expenses. According to Generally Accepted Accounting Principles (GAAP), all expenses and revenues are to be recorded in the period in which they occur. For example, you must record interest expense for interest accrued on a business loan during the current period. To do this, a debit is posted to Interest Expense and a credit to Interest Payable. Interest Payable is a liability account that represents interest that is accrued but is not paid yet. 4 Adjust for accrual of revenues. Entries must also be made to update the amount of revenue earned for a period. For example, you must record interest earned on a note during the period it was earned, even though it was not received. To do this, a credit is made to Interest Receivable and a debit to Interest Revenue. 5 Record adjustments for deferred expenses. A deferred expense entry is used when a company records a transaction in the past that must be updated now. For example, if an annual insurance policy was purchased and paid for, every month a portion of that prepaid insurance entry must be expensed out. The amount initially would be placed in an asset account called Prepaid Insurance. Every month after a month of insurance is used, an adjusting entry is made by debiting Insurance Expense and crediting Prepaid Insurance. 6 Record any deferred revenues. This entry occurs when money was received and posted to an Unearned Revenue account prior to it being earned. For example, if your company provides a service to another company and the company prepays for the service for a year, an entry is made. The amount was initially posted in a liability account called unearned revenue. At the end of each month, after a portion of the revenue is earned, an adjusting entry is made by debiting the Unearned Revenue account and crediting the Revenue account.

Five Functions That Are Carried Out By Communities

According to Roland Warren, there are five functions that are carried out by communities. The five functions are production, distribution, and consumption of goods and services, socialization, social control, social participation, and mutual support. The production of distribution, and consumption of goods and services meets the needs of the individuals in the community, such as food, clothing, shelter, employment, transportation, medical care, and recreation. In Colfax, there are formal and informal ways of meetings these needs. The individuals in the community can only shop at two locations to meet the needs of clothing. There is the Family Dollar Store and the Dollar General that sells clothing. Most individuals go out of town to purchase clothing, though at least twenty to thirty miles away. For those families that are less fortunate and need assistance with clothing the members of the families and community give to them. It is not uncommon to find families, friends, and neighbo rs issuing hand me downs to others in the community. During the fall and the winter churches and the local school donates clothing to the children and families in need. Another common informal system is garage sales. Buying clothing and goods from garage sales are common to this small community. There is a grocery store, two local fast food restaurants, and gas stations that are utilized for food in the community. At the community center once a month the elderly population is able to receive aShow MoreRelatedThe Religion of Sikhism790 Words   |  3 Pages Sikhism is the youngest of the world’s five great monotheistic religions. In 1801, the Sikh state was founded in Northern India by Maharaja Ranjit Singh based on the teachings of Guru Nanak, who is also the founder. The teachings of Sikhism are summed up by Guru Nanak in these words: â€Å"Realization of truth is higher than all else. Higher still is truthful living† (Teece). 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