The North American Free Trade Agreement (NAFTA; Spanish: Tratado de Libre Comercio de Amrica del Norte, TLCAN;

French: Accord de libre-change nord-amricain, ALNA) is an agreement signed by Canada, Mexico, and the United States,
creating a trilateral rules-based trade bloc in North America. The agreement came into force on January 1, 1994. It superseded
the CanadaUnited States Free Trade Agreement between the U.S. and Canada.
NAFTA has two supplements: the North American Agreement on Environmental Cooperation (NAAEC) and the North American
Agreement on Labor Cooperation (NAALC).
In terms of combined purchasing power parity GDP of its members, as of 2013the trade bloc is the largest in the world as well as by
nominal GDP comparison.
Contents

Negotiation and U.S. ratification

Back row, left to right: Mexican PresidentCarlos Salinas de Gortari, U.S. PresidentGeorge H. W. Bush, and Canadian Prime Minister Brian Mulroney, at
the signing of the North American Free Trade Agreement in October 1992. In front are Mexican Secretary of Commerce and Industrial
Development Jaime Serra Puche, United States Trade Representative Carla Hills, and Canadian Minister of International Trade Michael Wilson.

Following diplomatic negotiations dating back to 1986 among the three nations, the leaders met in San Antonio, Texas, on
December 17, 1992, to sign NAFTA. U.S. President George H. W. Bush, Canadian Prime Minister Brian Mulroneyand Mexican
President Carlos Salinas, each responsible for spearheading and promoting the agreement, ceremonially signed it. The signed
agreement then needed to be authorized by each nation's legislative or parliamentary branch.
Before the negotiations were finalized, Bill Clinton came into office in the U.S. and Kim Campbell in Canada, and before the
agreement became law, Jean Chrtien had taken office in Canada.
The proposed Canada-U.S. trade agreement had been very controversial and divisive in Canada, and the 1988 Canadian
election was fought almost exclusively on that issue. In that election, more Canadians voted for anti-free trade parties
(the Liberals and the New Democrats) but the split caused more seats in parliament to be won by the pro-free trade Progressive
Conservatives (PCs). Mulroney and the PCs had a parliamentary majorityand were easily able to pass the 1987 Canada-US
FTA and NAFTA bills. However, he was replaced as Conservative leader and prime minister by Kim Campbell. Campbell led the PC
party into the 1993 election where they were decimated by the Liberal Party under Jean Chrtien, who had campaigned on a
promise to renegotiate or abrogate NAFTA; however, Chrtien subsequently negotiated two supplemental agreements with the new
US president. In the US, Bush, who had worked to "fast track" the signing prior to the end of his term, ran out of time and had to
pass the required ratification and signing into law to incoming president Bill Clinton. Prior to sending it to the United States
Senate Clinton added two side agreements, The North American Agreement on Labor Cooperation (NAALC) and the North
American Agreement on Environmental Cooperation (NAAEC), to protect workers and the environment, plus allay the concerns of
many House members. It also required US partners to adhere to environmental practices and regulations similar to its own.
With much consideration and emotional discussion, the House of Representatives approved NAFTA on November 17, 1993, 234200. The agreement's supporters included 132 Republicans and 102 Democrats. NAFTA passed the Senate 61-38. Senate
supporters were 34 Republicans and 27 Democrats. Clinton signed it into law on December 8, 1993; it went into effect on January 1,
1994.[3][4] Clinton, while signing the NAFTA bill, stated that "NAFTA means jobs. American jobs, and good-paying American jobs. If I
didn't believe that, I wouldn't support this agreement

Microsoft Mobile is providing you with certain software and content owned by Microsoft
Mobile or its licensors (Software). This agreement is between you and Microsoft Mobile Oy
and its affiliates, if you are U.S. resident, between you and Nokia Inc. and supersedes any
prior communications relating to the Software. This is an agreement on limited, noncommercial end-user rights and not an agreement for sale.
Your end-user rights automatically and immediately terminate without notice from Microsoft
Mobile if you fail to comply with any provisions of this agreement.
You may install and use one copy of the Software on your Microsoft Mobile device and/or
computer. Microsoft Mobile grants you no other rights or licenses, whether express or
implied. You may not transfer, distribute, modify, translate, sell, sublicense, rent, lease,
reverse engineer or otherwise attempt to discover the source code or make derivative works
of the Software. For Open Source licensed Software, applicable Open Source terms apply.
Your device may check the availability of software updates from Microsoft Mobile. Microsoft
Mobile may provide updates to the Software that are considered important or critical by
Microsoft Mobile, and in such case you may not continue using the previous version of the
Software.
The Software maybe subject to export controls under the U.S. Export Administration
Regulations and other import or export control regulations. You agree to strictly comply with
all applicable import and export regulations and acknowledge that you have the
responsibility to obtain licenses to export, re-export, transfer, or import the Software.
To the maximum extent permitted by applicable law, (i) the Software is provided AS IS
without warranty or support of any kind; and (ii) Microsoft Mobile, its employees, and
licensors are not liable for any damages whatsoever, including without limitation direct or
indirect damages. If your jurisdiction does not allow the exclusion of liability but does allow
liability to be limited, then your maximum recovery is U.S. $ 50.
These terms neither exclude nor limit any of your mandatory rights in your country of
residence that cannot by law be waived. If a provision of this agreement is found to be
invalid, the validity of the remaining provisions is not affected.
Fixed assets, also known as "tangible assets" [1] or property, plant, and equipment (PP&E), is a term used
in accounting for assets and property that cannot easily be converted into cash. This can be compared with current assetssuch as
cash or bank accounts, which are described as liquid assets. In most cases, only tangible assets are referred to as fixed.

IAS 16 (International Accounting Standard) defines Fixed Assets as assets whose future economic benefit is probable to flow into
the entity, whose cost can be measured reliably.
Moreover, a fixed/non-current asset can also be defined as an asset not directly sold to a firm's consumers/end-users. As an
example, a baking firm's current assets would be its inventory (in this case, flour, yeast, etc.), the value of sales owed to the firm via
credit (i.e. debtors or accounts receivable), cash held in the bank, etc. Its non-current assets would be the oven used to bake bread,
motor vehicles used to transport deliveries, cash registers used to handle cash payments, etc. While these non-current assets have
value, they are not directly sold to consumers and cannot be easily converted to cash.
These are items of value that the organization has bought and will use for an extended period of time; fixed assets normally include
items such as land and buildings, motor vehicles, furniture, office equipment, computers, fixtures and fittings, and plant
and machinery. These often receive favorable tax treatment (depreciation allowance) over short-term assets.
It is pertinent to note that the cost of a fixed asset is its purchase price, including import duties and other deductible trade discounts
and rebates. In addition, cost attributable to bringing and installing the asset in its needed location and the initial estimate of
dismantling and removing the item if they are eventually no longer needed on the location.
The primary objective of a business entity is to make profit and increase the wealth of its owners. In the attainment of this objective it
is required that the management will exercise due care and diligence in applying the basic accounting concept of Matching
Concept. Matching concept is simply matching the expenses of a period against the revenues of the same period.
The use of assets in the generation of revenue is usually more than a year, i.e. long term. It is therefore obligatory that in order to
accurately determine the net income or profit for a period depreciation is charged on the total value of asset that contributed to the
revenue for the period in consideration and charge against the same revenue of the same period. This is essential in the prudent
reporting of the net revenue for the entity in the period.
Net book value of an asset is basically the difference between the historical cost of that asset and its associated depreciation. From
the foregoing, it is apparent that in order to report a true and fair position of the financial jurisprudence of an entity it is relatable to
record and report the value of fixed assets at its net book value. Apart from the fact that it is enshrined in Standard Accounting
Statement (

Depreciating a fixed asset[edit]

Depreciation is, simply put, the expense generated by the uses of an asset. It is the wear and tear of
an asset or diminution in the historical value owing to usage. Further to this; it is the cost of the asset
less any salvage value over its estimated useful life.