Race Relationships in US Essay Example | Topics and Well Written Essays - 500 words

Race Relationships in US - Essay Example This necessitated former confederates and the southern legislatures to pass laws called black codes, which greatly limited African American rights and segregated them from the whites. In 1877, recontruction was ended when Democratic parties reclaimed control of the south, which was very devastating for blacks since all the gains they had made such as forming political parties, voting rights as well as participation as equal entities were reversed. Thus the south, slowly reinstated laws that were racially discriminating and whose agenda was to segregate as well as disenfranchisement. The Democratic Party started stopping African Americans from voting so as to take away the power African Americans had gained. There were several ways to prevent blacks from voting and they included; poll taxes, literacy tests as well as charging of fees at voting booths. Additionally, in 1883, the civil rights case saw the Supreme Court declare that Congress lacked power to stop private acts of prejudice. The police and legal system supported segregation. Thousands of blacks were murdered by the Ku Klux Klan as well as other terrorists groups such as Knights of White Camellia. Thus prominent black land owners, community leaders as well as politicians. The Jim Crow laws entrenched discrimination. This was a system of customs and laws that imposed racial discrimination and segregation throughout the US, particularly in the south, beginning from the late 19th century to the 1960s.These laws did not particularly mention race, however they were written and applied in a manner that prejudiced African Americans. These laws ensured segregation in stores, libraries, entertainment as well as stores. This really fuelled an atmosphere of racial discrimination and there was a rise in rioting, Ku Klux Klan and lynching. Blacks, mostly in south were discriminated against in housing and jobs and frequently deprived of their constitutional

GGSB admissions board

GGSB admissions board What would you like the GGSB admissions board to know about your professional work and / or academic experience? I think one of the best qualities which I posses is my dedication towards work. It is this quality which has helped me achieve my dreams and progress successfully in my career. I am an Engineering graduate specialized in the field of Information Technology possessing high technical and analytical skills. Apart from the regular studies I showed greater interest in understanding the application of technology in the real world. Motivated by my lecturers I presented papers with innovative ideas which were highly appreciated. One of the most outstanding works was the Simulation of Cellular Network which was presented in various Institutions in the state and earned many awards. It is now being used by my Institution in the classes to demonstrate basic functioning of cellular networks for better understanding. The final year project was the most challenging work I encountered in my academic life. I had chosen to apply my knowledge of IT in the field of Biotechnology. Being an abecedarian in this field I initially struggled to improve my understanding of the application. Leading a team of three the responsibility of success of the project weighed more on me. Together we spent all days and many sleepless nights to bring out a working model of a concept which was only paperwork. This work was taken further and later presented by my project guide in an international conference in Hong Kong. Soon after my graduation I stepped into the next phase in my career joining as a fresher with LT Infotech. During the initial days I had the opportunity to observe what a real professionals work is. In no time I became a part of this world interacting with clients all around the globe and providing back end support. Responsibilities increased with time and now I single handedly support the back end system of a global reporting application. My most substantial accomplishment has been the implementation of an online system in the backend for testing purpose. The experience I gained through these many years made me guide the entire team technically, also helping in bridging the their gap between functionality of the system and its technical implementation. Due to the short span of time allocated for this project I had to be pro-active, take lead in motivating people and completing the task. This testing tool was shared with the clients and was highly appreciated. Why are you interested in our particular program, and how do you see it helping you to reach your future goals? The world is full of opportunities, comprising of a vast array of sectors, each having its own global implications. Many industries now being driven by Technology, reaches unbelievable heights within a short span of time through its efficient management. The need of the day is to be in pace with the change and evolution of technology. By this not only can one provide solution to real-time problems but also present the most effective ones. Working with an IT firm has opened up a fascinating world of science and technology to me. It has been more than a dream to understand the nuances of this field and to expand my horizons. I want to learn more about the industry and look at the business and its technology from a much broader realm rather than from the individual components for which I have been responsible. I would consider it my professional achievement to be placed high up in the corporate ladder, and be involved in the decision making and planning of the organization. I strongly feel that technology and management are two sides of the coin which in unison form the foundation of an organization. But the application of innovative technology and making it successful requires an in depth understanding of business and the risks involved. These are some of the nuts and bolts that I require when I foresee myself in a position making strategic business decisions. A proper amalgamation of technology and management plays the key role here. While possessing a strong technical background, I feel a management degree will help me sharpen my skills and provide me an opportunity to excel in both the fields. This will also provide me a window to new ideas from different perspectives. As I go higher up in my profession, I will have the responsibility of building strong teams, making critical decisions, communicating with distinct customers from different backgrounds and coordinating with other team members to work towards a common goal. I am confident that my creative, strategic and analytical abilities will aid me in becoming an able manager. For this, I look forward to graduate with a MBA degree from a top-class college so that I can enter the corporate world fully equipped with all diverse skills that will aid me in facing the complex business environment. GGSB One of the revolutionary institutes with world-class infrastructure, highly experienced faculty and research base has been my first choice. The Management of Technology being one of the pillars of Grenoble Ecole de Managements development and its international level recognition appeals to my professional interests. I am eager to interact with a diverse and lively peer group. I feel that the learning, which comes from a competitive, dynamic and fulfilling atmosphere, will enable me to take up challenging roles in the field of management. I hope the excellent facilities and exposure at GGSB will help me out in realizing my dreams. What did you experience when you first went abroad or visited a different culture than your own? How did you overcome the cultural differences? If you have never been abroad, what would you say to a foreigner moving to your home country? India is a land where diversity varies from state to state. India is only 1/3rd the size of USA with three times the latters population. Though there are 14 different major languages spoken across various states, India has one of the largest English speaking population in the world. India is the largest democracy in the world and it fiercely protects freedom of speech, press, legal rights, religious rights, minority rights and human rights. The civilization in India is the longest surviving, which dates back to 3300 B.C. The culture and civilization has been gradually shaped over time by many great thinkers. In Indian thinking there are no absolutes, in the sense that there is a cyclic order in everything and finite and infinite, dark and light, matter and energy, beginning and end, and so on, co-exist .There is an uncanny similarity between this way of thinking and the findings of modern science. There is a marked difference between India and countries in the West when it comes to the sense of privacy. People would drop in at any time without giving any notice whatsoever and would be welcomed and served sweets or a meal and even an invitation to stay overnight in some instances. People in India almost intuitively live within their means. Even the very poor tend to save for hard times. Houses almost never use heating or air-conditioning and are made bricks or earth. The notion that if a person earns $ 2 a day is miserable is not quite true. His or her purchasing power for lifes essentials or simple needs are like $ 80, since a $ is the equivalent of Rs. 40. So, the vast majority of people in India pursue life, liberty and happiness and hence rather successfully.

Tuberculosis Essay -- Biology Medical Biomedical Disease TB

Tuberculosis Tuberculosis is caused by Mycobacterium tuberculosis (M.TB.), has a unique cell wall, making it difficult to kill and stain. Three matjor components compose the cell wall: mycolic acids, cord factor, and Wax-D. M.TB. is also hard to culture and can only thrive in the body. It is an obligate aerobe and an acid-fast bacteria. Tuberculosis can be diagnosed through the Mantoux test and by staining methods such as the Ziel-Neelsen method. Chest x-rays are also used in the diagnosis process to detect any damage done to the lungs. Tuberculosis is caused by M.TB. This bacterium is hard to kill because of its cell wall, which is 60% lipid. M.TB. is also difficult to stain and culture (Todar, Kenneth paragraoh 14). Skin tests and microbiologic smears and cultures are the main methods used to diagnose TB, though the full diagnosis consists of many more tests. M.TB. is a rod-shaped bacterium related to the Actinomycetes. The rods are 2 to 4 um long and 0.2 to 0.5 um wide. This bacterium is an obligate aerobe, an organism that needs oxygen to survive. It is a tough bacterium that can withstand weak disinfectants and can survive in a dry state for weeks. M. TB. is a slow-growing bacterium that divides every 16 to 20 hours, which is extremely slow compared to other bacterium, which have division times measured in minutes (Wikipedia paragraph 1). Although M.TB. contains peptidoglycan in their cell wall, it is neither Gram-positive nor Gram-negative because it lacks the chemical characteristics of either. The Mycobacterium species is classified as acid-fast bacteria because it is virtually impermeable to certain dyes and stains, but once stained, the dye is permanent. The Ziehl-Neelsen method is one method used to stain Mycobac... ...ed as an acid-fast bacilli because of its impermeability to stains. The Mantoux skin test, Ziel-Neelsen method, BACTEC system, and the chest x-rays make up the most common methods used to diagnose tuberculosis. Although M.TB. is difficult study under a microscope, the understanding of the cell wall structure helps scientists to invent treatments for tuberculosis. â€Å"Tuberculosis.† Todar, Kenneth. Todar’s Online Textbook of Bacteriology. 2006 University of Wisconsin-Madison, Department of Bacteriology. 2007 23 July 2006 http://www.textbookofbacteriology.net/tuberculosis.htm â€Å"Tuberculosis.† Wikipedia. 27 July 2006 Wikipedia Foundation, Inc. 22 July 2006 http://en.wikipedia.org/wiki/Tuberculosis â€Å"Tuberculosis.† University of Michigan Health System. 14 March 2005 University of Michigan Health System. 22 July 2006 http://www.med.umich.edu/1libr/aha/aha_tb_crs.htm

Life Span Perspectives Paper

In order to truly understand the life span perspectives we must first define developmental psychology, which is a field that falls under the topic of psychology that is centered on describing how individuals change and grow throughout the stages of their life. This field has also been noted to be one of the more popular fields to be studied. We, as humans, must first grasp the concept that before there can be an outcome there has to be a process or a beginning. We can always trace anything that exists back to a beginning, for people this beginning is birth and the developmental processes that follow are individual pieces of the life processes. Charles Darwin had a longing to understand just what evolution was and exactly how it worked; from this desire he drew the study of lifespan development. Adolescence and norms were first introduced to those in the field of science by way of a G. Stanley Hall publication (Boyd & Bee, 2006). Within this book these scholarly individuals could read about the first observational studies of children. Within this paper you will find the definition of lifespan development, a description of the many characteristics of the lifespan perspective, and the identifying factors of the human developmental domains and periods. Lifespan Development We recognize that within the lifespan there had to be a beginning; we know this because of the work of Charles Darwin. Darwin began the inner workings of human developmental studies and those early evolutionists who shared his opinions were soon to join in his studies. Darwin’s goal was to prove his theory of evolution; it was his belief that his best chance of proving his theory was to engage in intense studies of human development (Boyd & Bee, 2006). According to the American Heritage Dictionary, a lifespan is the average amount of time that an organism, material, or object can be expected to survive or last. If we look for further detail and look for the definition of development, we find that development based on biology is the process of organic growth in an individual organism, we also see that this an be defined as a biological occurrence of events in which an organism changes gradually from a simple to a more complex level (Collins English Dictionary, 2003). When we combine these two individual words we end up with a term that defines the individual changes associated with life progresses that can be tracked in correspondence to the individual’s age. People will change many times over throughout their lifetime; these developme ntal periods are the prenatal period, infancy, childhood, adolescence, and adulthood. In order for one to experience growth developmental change must occur. Life span development will occur over and over, again and again throughout the individual’s life time. Although there are positives and negatives in the developmental process, developmental research and advances will continue to occur throughout an individual’s entire life cycle. Characteristics of the Lifespan Perspective All individuals develop on their own schedule and at their own pace, depending on many internal and external factors. Due to improved nutrition and health and medical knowledge a sharp rise in the average life expectancy has recently been observed. The characteristics of the lifespan perspective are lifelong, multidirectional, plasticity, contextual, multidisciplinary, and multidimensional. One’s development continues throughout their lifespan, there is no certain age that appears to be heavier in this area than others. Continued growth paired with decline affects development which can be said to attribute to the multidirectional portion of the lifespan. Many will seem to focus on the plasticity of the human lifespan, one can see this in the example of a child who has been malnourished, this child may suffer from a diminished intellect but given proper nutrition over an extended period of time the child will, indeed, regain much f the lost function and should eventually catch up to the average for his age. There are many outside forces that have a great effect on human development, these forces can be biological, historical, social, and cultural (Berk, 2007). Lifespan Domain Human Development domains all work together and are affected by one another. The categories of the domains of development are social, physical, and cognitive (Boyd & Bee, 2006). The social domain encases the changes that one may find necessary in order to adapt to a new social environment, or situation, this might include developing and maintaining relationships, and improvement upon general social skills. The physical domain can be defined as the way the humans change their physical appearance. A good example of a physical change is when a child enters puberty, and again as the child becomes elderly. Within this domain it is seen that as the physical appearance changes so will the views that the individual possesses in life. Human Development Periods Psychoanalytic, cognitive, and learning are the three theories that have been shown to produce the most information on human development (Boyd & Bee, 2006). Within these theories we can find information that best explains how one transitions from one moment within their life and essentially evolves to the next level. In discussing human development we must recognize the age old debate of nature versus nurture. Within this theory we must ask which, if either, is truly the strongest influence? Does the environment or genetics play the biggest part in this factor? Conclusion There are many answers that are yet to be discovered in the field of psychology in spite of the fact that there have already been so many discoveries. In the beginning there was Darwin and his theory of evolution†¦.. we do not yet know where the end may take us.

Mexico vs. Us vs. Ifrs

pwc. com/mx/ifrs IFRS, US GAAP and Mexican FRS: similarities and differences* The Summary A comparison of IFRS, US GAAP and Mexican FRS pwc. com/mx/ifrs PricewaterhouseCoopers Mexico Mariano Escobedo 573, Col. Rincon del Bosque. C. P. 11580, Mexico, D. F. Tel. : 5263 6000 Fax: 5263 6010  © 2009 PricewaterhouseCoopers. All rights reserved. PricewaterhouseCoopers refers to PricewaterhouseCoopers Mexico, the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity. *connectedthinking is a trademark of PricewaterhouseCoopers. connectedthinking A closer look A sampling of differences This publication is designed to alert companies to the scope of accounting changes that IFRS conversion will bring and to stimulate executive thinking and preparation. With that in mind, the body of the publication provides an overview of some differences between IFRS, US GAAP and Mexican FRS(1). The differences with US GAAP included a re considered relevant because some Mexican entities may have had identified the differences between Mexican FRS and US GAAP for example for a listing in the US and might find helpful this reference.This section provides a summary of some of the similarities and differences discussed in more detail on the complete publication. No summary publication can do justice to the many differences of detail that exist between US GAAP, IFRS and Mexican FRS. Even if the guidance is similar, there can be differences in the detailed application, which could have a material impact on the financial statements. In this publication, we have focused on the measurement similarities and differences most commonly found in practice.When applying the individual accounting frameworks, readers must consult all the relevant accounting standards and, where applicable, their national law. Listed companies must also follow relevant securities regulations and local stock exchange listing rules. (1) Mexican Financ ial Reporting Standards – Mexican FRS. The references included herein are identified considering the new guidance effective from January 1, 2009 1 Revenue recognition Broad-based differences in the accounting for the provision of services (US GAAP generally prohibits the approach required by IFRS) may impact the timing of revenue recognition.Differences involving the separation of multiple deliverable arrangements into components, and the allocation of consideration between those components, may impact the timing of revenue recognition. Where differences exist, revenue may be recognized earlier under IFRS and Mexican FRS(1). The guidance in IFRS with respect to how customer loyalty programs are treated may drive significant differences. The incremental cost model that is permitted under US GAAP is not accepted under IFRS and Mexican FRS(1). 1) Mexican FRS requires following the IFRS guidance for revenue recognition as there is no specific standard in accordance with the frame work except for construction contracts where specific literature exists under Mexican FRS. When transitioning to IFRS, the accounting policy should be revisited. Expense recognitionshare-based payments Companies that issue awards that vest ratably over time (e. g. , 25% per year over a four-year period) may encounter accelerated expense recognition as well as a different total value to be expensed, for a given award, under IFRS and Mexican FRS (2).Income tax expense (benefit) related to share-based payments may be more variable under IFRS. There are differences as to when an award is classified as a liability or as a component of equity. Those differences can have profound consequences, since awards classified as liabilities require ongoing valuation adjustments through earnings each reporting period, leading to greater earnings volatility. (2) For Mexican FRS, the IFRS guidance for share based payments was followed until December 31, 2008, as there was no specific standard issued i n accordance with the framework.The new guidance applicable from 2009 is similar to IFRS. However, careful consideration should be given on the application of the new Mexican guidance as differences could arise in practice. Expense recognitionemployee benefits Under IFRS, companies may elect to account for actuarial gains/losses in a manner such that the gains/losses are permanently excluded from the primary statement of operations. Differing restrictions over how assets are valued for the purposes of determining expected returns on plan assets exist under IFRS.IFRS allows for the separation of certain components of net pension costs whereas US GAAP and Mexican FRS do not. The interest cost and return on assets components of pension cost may be reported as part of financing costs within the statement of operations under IFRS as opposed to operating income under US GAAP and Mexican FRS. Assets— nonfinancial assets Differences in the asset impairment testing model may result in assets being impaired earlier under IFRS and Mexican FRS. However, there are certain differences on the impairment testing under the three frameworks.The broad based requirement to capitalize development costs under IFRS and Mexican FRS (when certain criteria are met) creates the potential for differences compared with US GAAP, wherein development costs are generally expensed as incurred. IFRS prohibits (whereas US GAAP and Mexican FRS permit) the use of the lastin, first-out inventory-costing methodology. In addition, Mexican FRS accepts the inventory costing excluding the fixed overhead costs. IFRS and Mexican FRS do not have bright line testing criteria for the classification of leases (i. e. operating or finance (capital) leases). In addition, the three frameworks achieving sale/leaseback accounting and earlier gain recognition under sale/leaseback accounting are more frequent when reporting under Mexican FRS. 2 Assets— financial assets Many financing arrangements, such as asset securitizations, that achieved off balance sheet treatment (i. e. , derecognition) under US GAAP will require full or partial-balance sheet recognition under IFRS. Under Mexican FRS the requirements are very similar to IFRS but in practice the derecognition treatment could be achieved.Investments in unlisted equity securities generally need to be recorded at fair value under IFRS, whereas under US GAAP they are generally recorded at cost (except for certain industries that apply a fair value model). For Mexican FRS purposes, long-term investments in equity instruments where there is no control, significant influence or joint control are recorded at cost. Differences in the treatment of changes in estimates associated with certain financial assets carried at amortized cost may affect asset carrying values and reported earnings differently under the three accounting frameworks.Liabilities—taxes There are differences in the recognition and measurement criteria of uncert ain tax positions (i. e. , income tax contingencies) under IFRS, US GAAP and Mexican FRS. The physical location of inventory that has moved cross border within a consolidated group can impact tax expense differently under the three frameworks. Deferred taxes on intragroup profits are determined by reference to the buyer’s tax rate under IFRS. When reporting under US GAAP, any income tax effects resulting from intragroup profits are deferred at the seller’s tax rate. Mexican FRS is silent on this respect.Differences in the treatment of subsequent changes to certain previously established deferred taxes could result in less volatility in the statement of operations under IFRS and Mexican FRS. Liabilities-other Differences within the accounting for provisions, including differing thresholds as to when provisions are to be established, may lead to earlier recognition of expense under Mexican FRS. Specific communication to employees regarding the details of a restructuring plan is not required before the recognition of a provision under IFRS and Mexican FRS (which could accelerate the timing of expense recognition).Financial liabilities and equity Generally, warrants issued in the US can be net share settled and, hence, are classified as equity under US GAAP. Warrants of that nature would, under IFRS and Mexican FRS, be considered derivative instruments and would be marked to market through earnings. More instruments are likely to be classified as liabilities, as opposed to equity, under IFRS and Mexican FRS (e. g. , instruments with contingent settlement provisions). Because balance sheet classification drives the treatment of disbursements associated with the instruments in question, the classification differences would also impact earnings (i. . , the treatment of disbursements as interest expense as opposed to dividends). However, there are certain differences between IFRS and Mexican FRS. More instruments are likely to require bifurcation, result ing in treatment as two separate instruments under IFRS and Mexican FRS (i. e. , compound and convertible instruments being split between equity and liability classification). The split accounting under IFRS and Mexican FRS versus the singular accounting under US GAAP can create a significantly different balance sheet presentation while also impacting earnings.In addition, the result under Mexican FRS and under IFRS could be different even if in both cases the split accounting is achieved. 3 Derivatives and hedging While the hedging models under IFRS, US GAAP and Mexican FRS are founded on similar principles, there are a number of detailed application differences, some of which are more restrictive under IFRS and others of which are more restrictive under US GAAP and/or Mexican FRS. In relation to effectiveness testing, IFRS does not permit the shortcut method that is accepted under US GAAP and Mexican FRS.As a result, if hedge accounting is to be maintained on an uninterrupted basi s, current US GAAP and Mexican FRS reporting entities using the shortcut method will need to prepare documentation that supports hedge accounting (outside of the shortcut strategy), with said documentation in place no later than the transition date to IFRS. IFRS does not include a requirement for net settlement within the definition of a derivative, effectively resulting in more instruments being recognized as derivatives under IFRS.Hence, more instruments will be recorded on the balance sheet at fair value with adjustments through earnings and greater earnings volatility when reporting under IFRS. Consolidation The entities consolidated within the financial statements may vary with, generally, more entities consolidated under IFRS. IFRS focuses on a control-based model, with consideration of risks and rewards where control is not apparent. US GAAP utilizes a dual consolidation decision model, first assessing a variable interests model and then a voting control model.Mexican FRS fol lows a similar approach to IFRS, however certain differences exist. US GAAP is undergoing significant changes in converging with IFRS in this area. Companies will be required to present noncontrolling interests as part of equity following the implementation of new US GAAP guidance. Additionally, in the event of a loss of control, to the extent any ownership interest is retained, the new US GAAP guidance will require that the interest retained be remeasured at fair value on the date control is lost. Any resulting gain or loss will be recognized in earnings.This is similar to the accounting currently required under IFRS and Mexican FRS, except that the Mexican FRS guidance does not permit remeasurement to fair value on the date control is lost. Equity Method Mexican FRS requires analysing whether significant influence exists in Special Purpose Entities to apply the equity method to such investments, whereas this is not required for IFRS or USGAAP. For the preparation of separate finan cial statements (non- consolidated) the investment in subsidiaries, associates and joint ventures should be valued using the equity method.IFRS requires to measure investment in subsidiaries, associates and/or joint ventures in separate financial statements at either cost or fair value (equity method is not permitted) Business combinations US GAAP is undergoing significant changes in converging with IFRS in this area. Upon the adoption of the new US GAAP guidance, many historical differences will be eliminated, although certain important differences will remain. Mexican FRS was revised considering the convergence with US GAAP and IFRS and is effective from January 1, 2009.The detailed section on the publication provides an example of such differences. 4 A helpful reminder Mexican FRS As from June 1, 2004, the Mexican Board for Research and Development of Financial Reporting Standards (CINIF for its acronym in Spanish) assumed the duties and responsibilities for issuance of Mexican F RS, activity that was carried out previously by the Mexican Institute of Public Accountants (IMCP for its acronym in Spanish). As its main project, the CINIF made a decision to conduct a study of IFRS and US GAAP to identify the most significant differences with a view to promoting its convergence.The first step was revising the framework as well as revising some old Mexican standards to adapt them closer to IFRS. The plan is to finish the revision of Mexican FRS by 2011. The standards previously issued by the IMCP were called â€Å"General Accepted Accounting Principles in Mexico† and the standards issued by the CINIF are called â€Å"Financial Reporting Standards† For the purpose of this publication all the Mexican guidance is considered Mexican FRS, when necessary the distinction is made by reference to old FRS or new FRS, otherwise the Mexican FRS refer to both and effective at the time of publishing this document.Mexican FRS framework requires following IFRS (as i ssued by the IASB) as suppletory, when no specific guidance is provided by Mexican FRS for a particular transaction or event. PwC Mexico has prepared a list of those IFRSs, including interpretations (SICs or IFRICs), that are considered suppletory for compliance with Mexican FRS. The analysis of the suppletory application of IFRS for Mexican FRS purposes is relevant as it could reduce the differences when transitioning to IFRS.However, care should be taken because in certain circumstances the full application of the suppletory IFRSs was not considered because of specific facts and circumstances of the transaction or event and the interaction with other Mexican FRSs. Therefore, more differences could arise in practice. 5 Standard/ Interpretation IAS 18 Title Revenue Summary This standard establishes the accounting treatment of the revenue arising from the ordinary activities of an entity and when revenue should be recognized. This standard also establishes the rules relative to the d ividend’s revenue recognition.Mexican FRS C-11 â€Å"Stockholder’s equity† establishes the concerning rules, so it would not be appropriate to apply the IAS 18 dispositions on this matter in a suppletory way. IAS 18 is effective for annual periods beginning on or after January 1,1995. INTERPRETATIONS that are also consider as suppletory in connection with revenue recognition: – SIC 31 Revenue – Barter transactions involving advertising services, establishes the conditions for the recognition of revenue regarding barter transactions involving advertising services.This interpretation only applies to an exchange of dissimilar advertising services. An exchange of similar advertising services is not a transaction that generates revenue under IAS 18. This SIC is effective from December 31, 2001. – IFRIC 13 Customer loyalty programmes These programmes consist in the granting of benefits (points that might be redeemed for products or services of the own entity or third parties, discounts in subsequent purchases, prices, etc. to the clients as a part of a sales transaction. The IFRIC establishes that such benefits should be recognized separately from the sales transactions. This IFRIC is effective for periods beginning on or after July 1, 2008. IAS 20 Accounting for Government Grants and Disclosure of Government Assistance This addresses the accounting and information to be disclosed on the grants from the government, as well as the aspects to be disclosed in relation to other forms of government assistances.This standard is effective for annual periods beginning on or after January 1, 1984. INTERPRETATION that is also consider as suppletory in connection with government grants: – SIC 10 â€Å"Government assistance- No specific relation to operating activities†, which establishes that the government assistances that are not related to the operating activities of the entity receiving them, should be recognized in t he income statement. This SIC is effective from August 1, 1998.IAS 26 Accounting and Reporting by Retirement Benefit Plans This Standard deals with accounting and reporting by the plan to all participants as a group. It does not deal with reports to individual participants about their retirement benefit rights. Retirement benefit plans may be defined contribution plans or defined benefits plans. This standard is effective for annual periods beginning on or after January 1, 1988. IAS 31 Interests in Joint VenturesThis establishes the guidance for the accounting of interests in joint ventures and the reporting of joint venture assets, liabilities, income and expenses in the financial statements of venturers and investors, regardless of the structures or forms under which the joint venture activities take place. However there are certain exceptions contained in the standards. Also, establishes that for jointly controlled entities, the proportional consolidation method should be applied , or alternatively the equity method to recognize the participation in such ventures.This standard is effective for annual periods beginning on or after January 1, 2005. This version supersedes the one revised in 2000. INTERPRETATION that is also consider as suppletory in connection with joint ventures: – SIC 13 â€Å" Jointly Controlled Entities- Non-Monetary Contributions by Venturers†, The interpretation deals with the venturer? s accounting for non-monetary contributions to a JCE in exchange for an equity interest in the JCE that is accounted for using either the equity method or proportionate consolidation.SIC 13 is effective for annual periods beginning on or after January 1,1999. 6 Standard/ Interpretation IAS 40 Title Investment property Summary This establishes the accounting treatment and disclosure requirements for investment properties defined as properties (lands, buildings, part of a building or both) held (by the owner or by the lessee under a finance le ase) to earn rentals of for capital appreciation or both, rather than for: (a) use in the production or supply of goods or services or for administrative purposes; or (b) sale in the ordinary course of business.The IAS 40 allows the use of one out of the two models proposed for valuation of the investment properties, these are: cost model and fair value model. The Mexican FRS Circular 55, â€Å"IAS 40 suppletory application – April 2001† issued by the IMCP, considers the IAS 40 as suppletory; but it is only accepted that the cost model is used for the recognition and measurement of the investment properties. IFRS 4 Insurance contractsThis standard specifies the financial information the insurers should present on the insurance and reinsurance contracts, as well as the recognition of the financial instruments with similar features issued by an entity, including matters such as: temporary exemption from the fulfillment with other IFRS (test of liabilities adequacy and im pairment of assets for reinsurance contracts), insurance contracts acquired in a business combination, etc.In Mexico, the entities belonging to the financial sector, including the insurers, prepare their financial information according to the rules issued by the CNBV which differ from the Mexican FRS so they should disclose this fact as well as the differences between such rules and the Mexican FRS, including the application of IFRS 4 as suppletory. This standard is effective for annual periods beginning on or after January 1, 2005. IFRS 6 Exploration For and Evaluation of Mineral ResourcesThis establishes the accounting treatment for the expenditures related to exploration and evaluation of mineral resources as well as the requirement of performing impairment test to those assets. This standard is effective for annual periods beginning on or after January 1, 2006. IFRIC 2 Member’s Shares in Cooperative Entities and Similar Instruments Determining Whether an Arrangement Conta ins a Lease This interpretation provides guidance on how to account financial instruments, including members? shares that have characteristics of equity, including voting rights to participate in dividend distributions.This IFRIC is effective for annual periods beginning on or after January 1, 2005. Provides a guide to determine if some arrangement are or contain a lease, in which case the provisions in the IAS 17 â€Å"Leases† should be applied. IAS 17 is not suppletory in Mexico, therefore, if based on IFRIC 4 it is concluded that there is an arrangement, the provisions of the Statement D-5 â€Å"Leases† should be applied. This interpretation applies to accounting in the financial statements of a contributor for interests from decommissioning funds as well as the related obligations assumed in their financial statements.This interpretation is effective for annual periods beginning on or after January 1, 2006. This Interpretation provides guidance on the recognition, in the financial statements of producers, of liabilities for waste management under the EU Directive. The IFRIC 6 is effective for annual periods beginning on or after December 1, 2005. IFRIC 4 IFRIC 5 Rights to Interests arising from Decommissioning, Restoration and Environmental Rehabilitation funds â€Å"Liabilities Arising From Participating in a Specific Market: Waste Electrical and Electronic Equipment IFRIC 6 7 Standard/ Interpretation IFRIC 12Title Service concession arrangements Summary This Interpretation gives guidance on the accounting by operators for public-toprivate service concession arrangements. The concessions covered within the scope of this IFRIC are those where: (a) the grantor controls or regulates what services the operator must provide with the infrastructure, to whom it must provide them, and at what price, and (b) the grantor controls-through ownership, beneficial entitlement of otherwise-any significant residual interest in the infrastructure at the end of the term of the arrangement.This Interpretation is effective for annual periods beginning on or after January 1, 2008. Currently, there is an exposure draft (INIF 17) regarding an interpretation on service concession arrangement similar to IFRIC 12 and is expected to be effective from January 1, 2010. New Mexican FRS The following standards and interpretations were considered suppletory until new guidance under Mexican FRS was issued as explained below: Standard/ Interpretation Title Summary IFRS 2 Share-based payments This standard establishes the measurement, presentation and disclosure requirements to be followed in the event of share based payments.This standard is effective from annual periods beginning on or after January 1, 2005 INTERPRETATIONS that were also consider as suppletory in connection with share based payments: IFRIC 8 â€Å"Scope of the IFRS 2†, clarifies that IFRS 2 applies to transactions in which the entity cannot identify specifically some or all the goods or services received as consideration for equity instruments of the entity. It is effective from May 1, 2006 IFRIC 11 â€Å"IFRS 2 – Group and treasury share transactions†, which establishes the accounting treatment of shared based payments of different entities in a group. It is effective from May 1, 2006.The Mexican FRS D-8 â€Å"Shared based payments† effective from January 1, 2009, eliminates the suppletory application of IFRS 2, IFRIC 8 and IFRIC 11 from that date. SIC 12 Consolidation – Special purpose entities (SPE) Establishes that an SPE should be consolidated when the substance of the relationship between an entity and the SPE indicates that the SPE is controlled by that entity. The Old Mexican FRS B-8 â€Å" Combined and consolidated financial statements and valuation of permanent share investments† does not consider the treatment for SPE? s therefore the interpretation is considered suppletory.The Mexican revised FRS B-8 â€Å"C ombined and consolidated financial statements† and the new Mexican FRS C-7 â€Å"Investment in associates and other permanent investments† (both effective from January 1, 2009) consider the consolidation of SPE? s in relation with subsidiaries and/or associates. Therefore, this new guidance eliminates the suppletory application of SIC 12 from January 1, 2009. 8 To have a deeper conversation about how this subject may affect your business, please contact: Alberto Del Castillo alberto. del. [email  protected] pwc. com Michelle Orozco michelle. [email  protected] pwc. com Armando Martinez martinez. [email  protected] pwc. com Ricardo Noriega ricardo. [email  protected] pwc. com Cecilia Versolatto cecilia. sandra. [email  protected] pwc. com Arturo Martinez arturo. [email  protected] pwc. com Rodrigo Ruvalcaba angel. [email  protected] pwc. com Equipo de consultores altamente especializados en aspectos tecnicos de metodologia de conversion a IFRS, comprobada e n mas de 1,300 conversiones en Mexico y en el mundo. Centro de excelencia de PwC Mexico en IFRS con experiencia desde hace 6 anos. Profesionales especializados en IFRS y con calificacion internacional. Mas informacion y publicaciones en nuestra pagina web: pwc. com/mx/ifrs