Conceptual Framework and Ontology Technologies †MyAssignmenthelp

Question: Discuss about the Conceptual Framework and Ontology Technologies. Answer: Introduction This report aims to provide an adequate understanding of the conceptual accounting framework that is mainly developed by the IASB for providing a theoretical basis to accounting. In this context, the report has examined the compliance of the financial reports of conceptual accounting framework with the characteristics of the conceptual accounting framework of a selected business entity. The business entity selected for the evaluation purpose is Dominos Pizza, an American world-recognized chain of pizza restaurant having about 13,800 locations across the world. The company operates on a global level and therefore it is required by it to adopt the use of standardized accounting practices as provided by IASB for ensuring its successful growth in various countries of its operations. The conceptual accounting framework developed by the IASB has laid to the foundation and development of general purpose of financial disclosure of information by the business entities. The major objective of developing financial reports is to disclose sufficient financial information to the end-users of financial reports to guide them in their decision-making process. The end-users of the financial information are investors, creditors, lenders, buyers, financial analysts and other stakeholders of a business entity. As per the general objective of framework, Dominos Pizza have developed and disclosed all the relevant materialistic information about its financial performance in the financial review section of its annual report. The required financial information is disclosed through the preparation ad presentation of general purpose financial statements that are developed with the application of principle of consolidation (Dominos Pizza: Annual Report, 2016). The company discloses its financial information in an integrated manner comprising the performance of its various subsidiaries. This enables the investors to gain an overview of the performance of the company in an integrated manner that guides them in taking accurate investment decisions by analyzing the financial growth prospects of the company as a single economic entity. It has developed and disclosed effectively all the general purpose financial statements as per the IASB standards that are, cash flows balance sheet, income statement, equity and cash flow statement (Dominos Pizza: Annual Report, 2016). The relevant accounting principles and rules applied for the preparation of the financial statements are also disclosed in the notes to the financial statement section that has provided a relative brief summary of the accounting policies (Psaros and Trotman, 2004). The review of the financial reports of Dominos Pizza assures that it has disclosed all the materialistic facts and information for meeting the different needs of the target audience. The financial statement developed in a consolidated manner has provided all the required information about the different financial elements such as assets, liabilities and equity. This helps the target audience to gain an overview of the capital structure of the company and the proportion of assets, liabilities and equity. The target audience needs to gain an overview of the proportion of current assets in relation to the current liabilities for assessing its future growth prospects. Also, the analysis of proportion of debt and equity is essential for investors to determine the financial leverage on the company. This can be calculated through the use of current and debt ratio by using the value of financial elements. The current and debt ratio of the company for the year 2016 is calculated through the us e of following formula: Therefore, it can be stated that company is not at present in good financial position as it is having stockholder deficit as analyzed from its financial reports (Dominos Pizza: Annual Report, 2016). Also, the information about the income and expenditure can be gained through the use of income statement that also predicts its future financial growth (McDaniel, Martin and Maines, 2002). Criteria of Recognition of Financial Elements in Dominos Pizza The notes to financial statements section of the company has stated the information in relation to the criteria of recognition used for different financial elements. The financial elements that are able to provide future economic benefit to the company are only recognized such as assets, liabilities, income and expenses (Mazhambe, 2014). The revenue is recognized for the retail sales realized from its franchised stores and is measured at a percentage of retail sales as stated in the franchise agreement. The long-term and intangible assets are recognized at cost and the financial liabilities and income tax are also recognized through the use of historical cost method (Dominos Pizza: Annual Report, 2016). The fundamental characteristics of financial reporting are relevance and faithful presentation of information. Dominos Pizza as per relevant characteristics has provided realistic information having a confirmatory value and a predictive value based on use of accounting estimates and assumptions. The confirmatory value of different financial elements is presented in the financial statements and the relevant accounting practices used in their preparation are also disclosed in the financial report. The predictive value is used for those financial elements whose value is calculated by the use of some accounting estimates and assumptions (Maines and Wahlen, 2006). The company has also faithfully presented financial information by ensuring that it is complete, neutral and error-free as stated by carrying out auditing of the financial statements in accordance with the Public Company Accounting Oversight Board. This is done to assure that financial statements are free from materialistic erro r and therefore have faithful presentation (Dominos Pizza: Annual Report, 2016). Enhancing Characteristics of Financial Reporting Complied by Dominos Pizza The enhancing characteristics of financial information are that it should be verifiable, understandable, comparable and timely (Gerber and Van der Merwe, 2014). Dominos Pizza has disclosed sufficient quantitative information in the financial reports and the method used for the calculation to verify the value of financial elements. It is also understandable as notes section has provided the detail about the accounting principle used for developing financial reports. Also, it is comparable as the financial information in the consolidated financial statement of the current year can be compared with that of the previous year to reflect the percentage increase or decrease. At last, the financial information is also disclosed in a timely manner that is on an annual basis to ensure that investors utilize the current information for decision-making (Dominos Pizza: Annual Report, 2016). Recommendations It is recommended to the company on the basis of the overall evaluation of its financial report that it should present a systematic flow of information. The financial report of the company is a bit complex to be easily understood by the end-users who lack sufficient financial information. Thus, the report need to be more synchronized with systematic flow of information so that readers cane easily analyzes the overall financial position of the company. Conclusion It can be stated from the overall discussion held in the report that Dominos Pizza is complying with conceptual accounting framework effectively. Although, it need to make certain changes like developing it in a easy format to meet the varying interests of the end-users. References Dominos Pizza: Annual Report 2016. 2016. [Online]. Available at: file:///C:/Users/Prashant/Desktop/2016_Annual_Report_DPZ.pdf [Accessed on: 17 April 2018]. Gerber, M. C., Gerber, A. J., and Van der Merwe, A. J. 2014. An Analysis of Fundamental Concepts in the Conceptual Framework Using Ontology Technologies. South African Journal of Economic Management Sciences 17 (4), pp. 396411. Gore, R., and Zimmerman, D. 2007. Building the Foundations of Financial Reporting: The Conceptual Framework. The CPA Journal 77(8), pp. 3034. Maines, L. and Wahlen, J. 2006. The Nature of Accounting Information Reliability: Inferences from Archival and Experimental Research. Accounting Horizons 20(4), pp. 399- 425. Mazhambe, Z. 2014. Review of International Accounting Standards Board (IASB) Proposed New Conceptual Framework.Journal of Modern Accounting and Auditing10 (8), pp. 835-845. McDaniel, L., Martin, R. and Maines, L. 2002. Evaluating Financial Reporting Quality: the Effects of Financial Expertise vs. Financial Literacy. The Accounting Review 77, pp.139-167. Psaros, J. and Trotman, K. 2004. The Impact of the Type of Accounting Standards on Preparers Judgments. Abacus 40(1), pp. 76-93.

Taoism Essays (5346 words) - Cognitive Science, Taoism,

Taoism Classical Chinese theory of mind is similar to Western "folk psychology" in that both mirror their respective background view of language. They differ in ways that fit those folk theories of language. The core Chinese concept is xin (the heart-mind). As the translation suggests, Chinese folk psychology lacked a contrast between cognitive and affective states ([representative ideas, cognition, reason, beliefs] versus [desires, motives, emotions, feelings]). The xin guides action, but not via beliefs and desires. It takes input from the world and guides action in light of it. Most thinkers share those core beliefs. Herbert Fingarette argued that Chinese (Confucius at least) had no psychological theory. Along with the absence of belief-desire explanation of action, they do not offer psychological (inner mental representation) explanations of language (meaning). We find neither the focus on an inner world populated with mental objects nor any preoccupation with questions of the correspondence of the subjective and objective worlds. Fingarette explained this as reflecting an appreciation of the deep conventional nature of both linguistic and moral meaning. He saw this reflected in the Confucian focus on li (ritual) and its emphasis on sociology and history rather than psychology. The meaning, the very existence, of a handshake depends on a historical convention. It rests on no mental acts such as sincerity or intent. The latter may accompany the conventional act and give it a kind of aesthetic grace, but they do not explain it. Fingarette overstates the point, of course. It may not be psychologistic in its linguistic or moral theory, but Confucianism still presupposes a psychology, albeit not the familiar individualist, mental or cognitive psychology. Its account of human function in conventional, historical society presupposes some behavioral and dispositional traits. Most Chinese thinkers indeed appear to presuppose that humans are social, not egoistic or individualistic. The xin coordinates our behavior with others. Thinkers differed in their attitude toward this natural social faculty. Some thought we should reform this tendency and try harder to become egoists, but most approved of the basic "goodness" of people. Most also assumed that social discourse influenced how the heart-mind guides our cooperation. If discourse programs the heart-mind, it must have a dispositional capacity to internalize the programming. Humans accumulate and transmit conventional dao-s (guiding discourses?ways). We teach them to our children and address them to each other. The heart-mind then executes the guidance in any dao it learns when triggered (e.g., by the sense organs). Again thinkers differed in their attitude toward this shared outlook. Some thought we should minimize or eliminate the controlling effect of such conventions on human behavior. Others focused on how we should reform the social discourse that we use collectively in programming each other's xin. Typically, thinkers in the former group had some theory of the innate or hard-wired programming of the xin. Some in the latter camp had either a "blank page" or a negative view of the heart-mind's innate patterns of response. For some thinkers, the sense organs delivered a processed input to the heart-mind as a distinction: salty and sour, sweet and bitter, red or black or white or green and so forth. Most had thin theories, at best, of how the senses contributed to guidance. While it is tempting to suppose that they assumed the input was an amorphous flow of "qualia" that the heart-mind sorted into categories (relevant either to its innate or social programming). However, given the lack of analysis of the content of the sensory input, we should probably conservatively assume they took the na?ve realist view that the senses simply make distinctions in the world. We can be sure only that the xin did trigger reactions to discourse-relevant stimuli. Reflecting the theory of xin, the implicit theory of language made no distinction between describing and prescribing. Chinese thinkers assumed the core function of language is guiding behavior. Representational features served that prescriptive goal. In executing guidance, we have to identify relevant "things" in context. If the discourse describes some behavior toward one's elder, one needs a way correctly to identify the elder and what counts as the prescribed behavior. Correct action according to a conventional dao must also take into account other descriptions of the situation such as ?urgent', ?normal', etc. These issues lay behind Confucian theories of "rectifying names." The psychological theory (like the linguistic) did not take on a sentential form. Classical Chinese language had no "belief-grammar", i.e., forms such as X believes that P (where P is a proposition). The closest grammatical counterpart focuses on the term, not the sentence and point to the different function of xin. Where

Personal Statement For High School Student Sample Essays

Personal Statement For High School Student Sample EssaysWhen it comes to writing a personal statement for high school student sample essays, there are a number of guidelines that need to be followed. The first thing that you should do is to determine which kinds of essay samples you are going to choose from. There are different types of examples that you can choose from such as research papers, essay explanations, and personal essay samples that you can choose from.Knowing your audience when you are going to choose the sample essays is very important because it will also help you identify the kind of information that is required by the various types of students. You need to have all the information in front of you so that you will be able to read the work properly and write a proper paragraph that is required by the exam. You can even use a reference book or any other reference materials that are necessary to make sure that the whole project is done well.You can find different exampl es from both the academic world and the real world. You need to know how the examples can help the students who will take the exam. You should also be able to put it in the context of the academic topics that the students are going to study for the exams. Your personal statement for high school student sample essays needs to contain all the necessary information about your specific subject matter that is needed for the subject.You should know how the topic is going to be tackled in order to avoid the pitfalls that you may fall into when writing your own essay. If you are unable to answer this question accurately, you will not be able to deliver an accurate answer when asked. In order to avoid this, you can ask other people about the same topic in order to see what kind of topics they have written about.There are some things that you need to include in your statements in order to make sure that you will be able to tackle the specific topic to its fullest. You need to take time to thi nk about this before hand so that you will not be caught in any potential mistakes. Before you start writing the personal statement for high school student sample essays, you need to write about your subject matter in detail.You also need to know why the essay is important. This will be a great help for you because you can include the necessary information about the importance of your essay when you are working on the topic. You need to take time to identify your readers' reason behind reading the work.You should also take the time to review your personal statement for high school student sample essays before you submit it. If you feel that it is not clear, you can always rewrite it and add more information so that it is going to be flawless. The preparation you need for your personal statement for high school student sample essays is essential so you need to prepare yourself before you do the writing of the essay.You should not let your passion for the topic stop you from completin g the student sample essays. The fact that you have passion for the subject matter is just the initial point that is needed to complete the project. You need to do everything that you can in order to make the project as smooth as possible.

Gibbs Nursing Model on Reflection The WritePass Journal

Gibbs Nursing Model on Reflection Introduction Gibbs Nursing Model on Reflection ). The Gibbs (1988) model of reflection suggests that the process of reflection is systematic and follows a number of specific steps in order to be successful. This model of reflection is a type of formal reflection, which draws on research and puts forward a theory as to how most effectively put into practice to process of reflection. The process can be broken down into six key steps: Description: this step explores the context of the event and covers fine details such as who was present at the event, where it happened and what happened. Feelings: this step encourages the reflector to explore their thoughts and feelings at the time of the event. Evaluation: this step encourages the nurse to make their own judgement about the event and to consider what went well and what went less well about the event. Analysis: this step delves even deeper into reflection on the event and encourages the nurse to break the event down into smaller episodes in order to facilitate analysis. Conclusions: this step explores the potential alternatives that may be used to deal with the situation that is being reflected upon. Action Plan: this is the final step in the reflection process. The action plan is put into place in order to deal more effectively with the situation if or when it may arise again. The Royal College of Nursing (2012) believes the Gibbs (1988) model of reflection to be particularly superior because emphasises the role of emotions and acknowledges their importance in the reflection process. Nursing can often be an emotionally charged career, especially for nurses working in areas such as psychiatric health and palliative care. Therefore, reflection on these emotions and exploration of how to manage them and improve management of them in the future is of particular importance in the nursing profession. Case Study Step One (Description) A young male patient aged 16 years came into the clinic around three days ago. He complained of low self-esteem and is feeling fed up and depressed because of pimples and spots on his face. The patient was worried that   Ã‚  girls would not be attracted to him because of the spots. The consultation took place with just myself present, no other nurses were in the room at the time of the appointment. The consultation lasted around half an hour, during which time myself and the patient discussed the history of his problems with his skin and the emotional distress that the spots were causing him. The patient disclosed that he had begun to get spots at around age 14 when he had started puberty and that it had begun to make him feel extremely self-conscious. The patient described the negative effect that the acne was having. For example, he has been bullied at school and is feeling apprehensive about starting sixth form in September because he believes that he will be the only sixth form er with spots. Based on the reasonably lengthy history of the acne, the presence of acne on the face and the negative emotional effect that the acne was having, a three month dosage of oxytetracycline was prescribed for the patient. Step Two (Feelings) During the consultation I had a number of feelings. Primarily I felt sympathy for the client because his situation reminded me of my own time as a teenager. I suffered from bad skin from the ages of 14 to about 20 and it severely affected my own self-esteem. In a review of the literature, Dunn, O’Neill and Feldman (2011) have found that patients suffering from acne are more at risk of depression and other psychological disorders. However, the review also found that acne treatment may lead to improvement of the psychological disorder that are so often co-morbid. This made me feel re-assured that prescribing oxytetracycline had been the right thing to do. My own experiences of acne also meant that I was able to relate well to the patient. I also felt some anger during the consultation. This anger was directed at the patient’s peers who had been cruel enough to taunt and tease the patient because of his acne. I also felt regret and guilt. I regretted not referring the pati ent onwards for emotional support and for not exploring the psychological impact of the acne in more detail. I also felt a sense of pride that this young man had the courage to come to the clinic by himself to seek help for his acne. I remembered how upsetting acne was as a teenager and I remembered that I would have been too embarrassed to have ever gone to a clinic or to have sought help from an adult. In turn, I also felt happiness. I felt happy that this young man had come to the clinic and I felt happy that I was able to help him. Step Three (Evaluation) On evaluation, the event was good in a number of ways. Firstly it added to my experience of dealing with young people and in dealing with the problems that are unique to this population of patients. I have not had many young patients during my nursing career and I welcome the opportunity to gain experience with this group. Furthermore, it re-affirmed my career choice as a nurse. During your career you always have doubts as to whether you have chosen the correct path. However, there are points in your career when you feel sure that you have made the right choice. However, there were also some negative elements. Firstly, the appointment was quite short and I am worried that this may have made the patient feel rushed and uncomfortable. After the consultation I did some research into the effects of acne in young people. Purvis et al. (2006) have found that young people with acne are at an increased risk of suicide and that attention must be paid to their mental health. In particular, the authors found that directly asking about suicidal thoughts should be encouraged during consultations with young people. This information only served to make me feel more anxious and I wished that I had bought this up with the patient. Step Four (Analysis) On reflection, being able to relate to the patient increased my ability to deal more effectively with the situation. I feel that the patient was able to open up more to me because he sensed my sympathy for him and his situation. Randall and Hill (2012) interviewed children aged between 11 and 14 years about what makes a ‘good’ nurse. It was found that the ability to connect to them was extremely important and so I think this is why the patient felt comfortable opening up to me. On reflection, I am also now convinced that the patient coming to see me was a very positive event. The patient could have chosen to go on suffering and could have chosen not to open up and talk about the problems his acne was causing. In a review of the literature, Gulliver, Griffiths and Christensen (2010) found that young people perceived embarrassment and stigma as barriers to accessing healthcare. Therefore, it could have been very easy for the patient to have avoided coming and seeking help. I felt a range of both positive and negative emotions during the consultation, and I think this re-affirmed for me that I enjoy nursing and enjoy helping others. It is important to genuinely care about patients and to provide them with the best care possible. This would be hard to do if you did not feel empathy for patients. The experience also helped me realise that I need to actively search out training and learning opportunities regarding working with young people with mental health issues. Step Five (Conclusion) If the same situation was to arise again I think that I would approach it in a slightly different way. In particular, I would have offered to refer the patient to further support services. During the consultation the patient mentioned that he felt that the spots on his face made him unattractive to the opposite sex. In addition to providing medication to get to the biological and physiological roots of the problem, on reflection I think it would have been beneficial to the patient to have provided information about charities that offer self-esteem and confidence building. Such charities that offer these services include Young Minds (youngminds.org.uk/) and Mind (mind.org.uk/). In retrospect, I also believe that I should have given the patient a longer consultation time in order for us to have explored the psychological impact of his acne in more detail. Coyne (2008) has found that young people are rarely involved in the decision-making process when it comes to their consultations. Th erefore, giving the patient more time to discuss his problems may have improved his sense of wellbeing as he felt more involved in his care process. Step Six (Action Plan) There are a number of elements to my action plan. Firstly, I will make sure that in the future the consultation room has leaflets and information pertaining to mental health problems in young people. This way, young people can access the information if they perhaps feel too embarrassed to talk about it. Hayter (2005) has found that young people accessing health clinics put a high value on a non-judgemental approach by health staff. Therefore, in future I would be sure to be aware of my attitude and make sure that either subconsciously or consciously; I am not making any judgements about the patient. Hayter (2005) also found that young people had serious concerns regarding confidentiality, especially during busy times at the clinic. Therefore, in the future I would be certain to reassure young people that their details and consultations are kept completely confidential. To re-assure young patients, I may ask them to sign a confidentiality form, which I will also sign in front of them. Furthermore, my action plan will include improving my knowledge and awareness of working with young people as a nursing professional. This will allow me to increase the tools and skills I have for dealing with young people with complex needs. During the consultation I felt anger toward the patient’s peers who had teased him. In the future, I will focus on being more objective when dealing with a patient who has been the victim of bullying. References Coyne, I. (2008) Children’s participation in consultations and decision-making at health service level: A review of the literature. International Journal of Nursing Studies, 45(11), pp. 1682-1689. Dunn, L.K., O’Neill, J.L. and Feldman, S.R. (2011) Acne in adolescents: Quality of life, self-esteem, mood and psychological disorders. Dermatology Online Journal, 17(1). Available at: http://escholarship.org/uc/item/4hp8n68p [Accessed 20 October 2013]. Gibbs, G. (1988) Learning by Doing: A guide to teaching and learning methods. Oxford: Further Education Unit. Gulliver, A., Griffiths, K.M. and Christensen, H. (2010) Perceived barriers and facilitators to mental health help-seeking in young people: a systematic review. BMC Psychiatry, 10(1), pp. 113. Hayter, M. (2005) Reaching marginalised young people through sexual health nursing outreach clinics: Evaluating service use and the views of service users. Public Health Nursing, 22(4), pp. 339-346. Paget, T. (2001) Reflective practice and clinical outcomes: practitioner’s views on how reflective practice has influenced their clinical practice. Journal of Clinical Nursing, 10(2), pp. 204-214. Purvis, D., Robinson, E., Merry, S. and Watson, P. (2006) Acne, anxiety, depression and suicide in teenagers: A cross-sectional survey of New Zealand secondary school. Journal of Paediatrics and Child Health, 42(12), pp. 793-796. Randall, D. and Hill, A. (2012) Consulting children and young people on what makes a good nurse. Nursing Children and Young People, 24(3), pp. 14. Royal College of Nursing (2012) An exploration of the challenges of maintaining basic human rights in practice. London: Royal College of Nursing.

AIDS and Philadelphia (1993)

Later, the virus can enter the host's bloodstream through a hole in the surface of the tissue. The risk of this happening is the biggest among anal sex, whether it is between two men or between men and women. HIV is transmitted by direct exchange of blood or blood products This type of infection is most common when injecting drug users injecting drugs Hemophilia patients and other people receiving blood transfusion, As well as the fetus of the mother of HIV. Since the onset of AIDS epidemics, AIDS has caused considerable interest and controversy. This scene is taken from the box office income of Philadelphia. The 1993 TV series has become the first movie to discuss publicly about AIDS, crossing the wall of the movie. Philadelphia is also a representative example of homophobia in the workplace (irrational fear and hate against homosexuals). Homosexuals desire equal and equitable treatment in the workplace (Mc Naught 65); recognizing this, the movie is doing very well. Philadelphia cla ims that it meets all four criteria and is a successful high quality social drama. (Social drama is a movie including reality (modern) social problem.Social drama must deal with conflict as some plots contain solution to the problem.) Philadelphia is preparing to conduct a critical analysis of Philadelphia movie (1993). Please answer the following questions. * Homosexual myths and stereotypes, and those living in HIV / AIDS (PLWHA) will help promote him to be dismissed by the company? * Prejudice, discrimination, oppression and institutional discrimination. * Including analysis of gay and lesbian other issues such as granting legal authority, violence against them, out, race, AIDS. * Proposed Strategy ... Star Wars became an American classic in popular culture. George Lucas is a wonderful person behind the movie, and he suggests everything we call now Star Wars. He is the creator of this wonderful phenomenon in popular culture. He can not do it by himself, but many people are involv ed in film production. Music is the most important factor in making movies. As he heard, Lucas decided to pass this responsibility to the famous composer John Williams When Philadelphia was released in 1993, it helped to change these perceptions. The movie is the story of a young gay attorney, acted by Tom Hanks, who was fired by his company after discovering that he had AIDS. This is the first Hollywood movie to deal with AIDS and homophobia. Until there were few people who wanted to discuss the theme, it helped to delete themes. Gary Bell, advocate of HIV, says:

Dubai economy Essay Example | Topics and Well Written Essays - 750 words

Dubai economy - Essay Example On January 4th 2006, following the death of Sheikh Maktoum bin Rashid Al Maktoum, His Highness Sheikh Mohammed bin Rashid Al Maktoum became the Ruler of Dubai. He is a man of many guises-poet; champion horseman; author of the book 'My Vision - Challenges in the race for excellence', Chairman of DTCM, United Arab Emirates Vice President, Prime Minister and Defense Minister.Past two -three years witnessed a boom in the construction sector. Large scale, world class constructions such as Burj Dubai (which would be world's tallest building - height 818M, Floors-162, completion by 2009) have taken place and are in progress. Apart from that a number of real estate projects like the Walk, Jumeirah Beach Residence, Business Bay, the Executive Towers, Vision Tower, Bay Avenue, the Villa, etc also became popular. Real-estate values surged fourfold over the past five years, fueled by a supply shortage and an influx of expatriates. Rising commodities prices drove inflation, which accelerated to a record 11.1 percent in 2007. The population of Dubai expanded from 12,00,000 in 2003 to 14,78,000 in 2007. Dubai's real gross domestic product (GDP), which surged to a record Dh198 billion in 2007, is predicted to sustain an average growth rate of 11 per cent for the next eight years. Dubai's exports have been growing by an average of more than 28 per cent annually during the past five years.Financial sector also witnessed ample growth during the previous years. The Dubai International Financial Centre (DIFC), opened in September 2004, is the world's fastest growing international financial centre, and has attracted high caliber firms from around the globe as well as its region. A world-class stock exchange, NASDAQ Dubai (formerly known as the Dubai International Financial Exchange or DIFX), opened in the DIFC in September 2005. Financial services in the DIFC are regulated to international standards by the Dubai Financial Services Authority (DFSA). The credit market also has become more competitive, currently there are 13 lenders in the market including four international banks - Standard chartered, HSBC, Llyods TSB and Barclays Bank. Dubai Shopping Festival (DSF) conducted normally in January gained international reputation year after year and attracts thousands of foreign tourists. Hotels, travel agents and tour operators contribute to the selling of the event worldwide. Development and expansion activities for Dubai International Airport continued. The new terminal 3 became fully operational in October 2008. Work on a Cargo Mega Terminal has begun. A metro link with the city is expected to be operational by 2010. There were fast developments in information and communication sectors in Dubai in the past few years. 'du', the integrated telecom service provider in the UAE, launched mobile telecommunication services on 11 February 2007 across the UAE in addition to internet and pay TV services in some of the free zones of Dubai. It is 40 percent owned by the UAE Federal Government, 20 percent by Mubadala Development Company, 20 percent by Emirates Communications & Technology Company LLC and 20 percent by public shareholders. It is listed on the Dubai Financial Market (DFM) and trades under the name du. Emiratization programme also got momentum in respect of higher management and technology levels. The Department of Tourism and Commerce Marketing (DTCM) has initiated an Emiratization drive in Dubai through attracting a dedicated and talented workforce. As part of the Emiratization process, the du has recently announced the appointment of two senior executives in key areas of the company's technology operations. Ahmed Hassan Al Hosni is the new Senior Vice President (SVP) IT and

INTERNATIONAL ECONOMICS AND FINANCE Essay Example | Topics and Well Written Essays - 2000 words

INTERNATIONAL ECONOMICS AND FINANCE - Essay Example The two eminent theories of Heckscher-Ohlin and Ricardian theory of international trade by David Ricardo have been discussed below. An introspection of the two theories provides an insight of the main controversies in the field of international trade and the current problems in policy that is affecting international trade. The Ricardian model explains comparative advantage in international trade by taking into account factors like natural resources and technology advancements of a country. The factors of comparative labour and capital have not been considered by Ricardo while explaining comparative advantage. The Heckscher-Ohlin model of international trade on the other hand assumes that the labour and capital are abundant resources that vary from one country to another and technology in long term prospects are assumed to be same. Heckscher-Ohlin derived that a country exports such goods that make optimal utilisation of local factors and imports those goods which could not make use o f available factors. David Ricardo: Ricardian theory of international trade International trade is necessary for the sustenance of globalization. ... Ricardian theory, however, holds the underlying assumption that the labour is the primary input for production and the trade at international stage occurs due to relative ratios of labour of the different nations (Rivera-Batiz and   Oliva, 2003, p.4). The other assumptions in the Ricardian model of international trade says that the labour as an input of production of the countries is also inelastic and there is no cost of transportation and no international trade barriers. The theory of comparative advantage has been explained by two factors namely, the opportunity cost and the production possibility frontier. The opportunity cost of the countries can be determined as the loss incurred for a certain production due to increase in another production. In international trade theory, the opportunity cost to a country is the decrease in cost of production arising out of scarcity of some factors for which the country imports goods and services from another country where those factors are present. The countries would carry out international trade in such a way that the opportunity cost is high. This could be done by international exports of goods that have abundant factors available in the boundary of the country and through import of goods that have scarcity of factors in the national boundaries. The production possibility frontier explains that the output of the country remains same for a certain level of technology and international trade takes place due to difference in outputs as a result of different levels of technology achieved by different countries. Heckscher-Ohlin - Heckscher Ohlin theory of international trade Capital and