Part A: Questions
Should the United States seek to tighten the economic grip on Cuba? If so, why?
Should the United States normalize business relations with Cuba? If so, what conditions might/should the U.S. stipulate?
Assume you are Cuba's leader. What kind of trade relationship with the United States would be in your best interest? What type would you be willing to accept?
How do the structure and relationships of the U.S. political system influence the existence and specification of the trade embargo?
Part B: Question
If an investor wants to compare the financial results of The Gap, Inditex, and H&M, what difference does it make that their financial statements are prepared according to different GAAP? Would you expect there to be a big difference between U.S. GAAP s used by The Gap and IFRS as used by H&M and Inditex?
What are the major sources of influence on H&M's accounting standards and practices?