Professional Profile

Personal Information
Nationality: Costa Rican
Date Birth: February, 11 1987
Birth Place: San José
Accountant: 29056

Professional Information
Contraloría General de la Republica ( Setember 2005- december 2005
Practice
Responsible of auditoring in FANAL
AF Group Asesor (December2005- February2006)
Functions
All accounts of different companies thought the accounting cycle
BCR (February 2006-July 2011
Functions
Customer services

Academic
2000- 2002 Colegio Superior de Señoritas Education degree in diversified
2003- 2005 Colegio Vocacional Monseñor Sanabria Bachelor of Secondary and technical Education in Accounting half
2006- Actually Ulacit Bachelor Public Accounting

Other courses
2006 Colegio de Contadores Privados de Costa Rica NICS
2011 ULACIT Seminary of NICSP
2008 Ulacit Office

Professional Profile

Personal Information
Nationality: Costa Rican
Date Birth: June, 23 1988
Birth Place: San José

Professional Information
Opticas Visión (2006-2008)
Local Administrator
Consultores Financieros JR & Asociados, S.A.
Counter, complete accounting cycle

Academic
2000- 2006 Colegio Liceo San Miguel degree in diversified
2007- 2009 Colegio Universitario Boston, technical accounting, credit and collections, accounting assistant
2009- Actually Ulacit Bachelor Public Accounting

Other courses
2008 Seminario NIF, Colegio Contadores Privados
2011 ULACIT Seminary of NICSP

PROFESSIONAL PROFILE

PERSONAL INFORMATION
Nationality: Costa Rican
Marital Status: Married
Date of Birth: September 23, 1987
Birthplace: San Jose
CPA: 28889

PROFESSIONAL PROFILE
Year 2005 *CORBANA*
PRACTICE.
Accounting Assistant
Accounting Dept.

March 2006 - APRIL 2010 *CONTROL DURAN, SA*
ACCOUNTANT.
1 - Responsible for the monthly accounting and fiscal closing.
2-Entry of information system
3-Flow of information for audits
4-day control of income
5-Reconciliation of general ledger accounts
6-bookkeeping
7-Control Order Supplies
8-Fixed Asset Inventory
9-goods inventory
10-Bank reconciliation
Revision 11-day billing.
12-Control of inventory movements. (Inputs, outputs and shopping)
13-Reconciliation of inventory items.


APRIL 2010 - CURRENT *CONTROL DURAN SA*
FINANCIAL DEPARTMENT
1-Elaboration of weekly cash flows.
2-keeping of the bank accounts
3-Preparation of checks and payments through bank transfers.
4-approve and review the daily closings of boxes
5-Control of bank balances
6-Making payments abroad.
7-Realization of financial analysis.
8-Authorization for disbursement according to the established budget
9-Making reports of tax obligations.
10 - Direct and coordinate the functions of the accountant.
11-Review and approval of the monthly closing
12-Review of conciliation issued by accounting: accounts receivable balances, bank reconciliations and closing inventory.
13-Review and calculation of merchandise imports.
14-Enter the purchases of inventory systems, outputs, inputs and settings.
15-Cordina takes physical inventory
16-custodian of the accounting file.
17-monthly payroll calculation and payment of wages
18-Calculation of commissions earned by sales
19-Calculation of labor settlements.
20-Presentation of the INS forms and CCSS
21 - Control of forms for business use

ACEDEMIC

1994-1999 Alejandro Rodriguez School - Completion of Primary Education.

2000-2005 Colegio Tecnico Profesional de Acosta - Bachelor in Secondary Education.

2003-2005 Colegio Tecnico Profesional de Acosta -Technicians in Accounting.

marzo 2006 Joined the College of Private Accountants of Costa Rica.

2006-present ULACIT - Bachelor in Public Accounting. (Studying)

April 2010
Employment law course
College of Private Accountants of Costa Rica

July 2011
NICS Update Seminar for public sector
ULACIT

July 2011
Seminar on Use of accounting information for decision-making.
ULACIT

Information

PERSONAL INFORMATION
Nationality: Costa Rican
Marital Status: Single
Date of Birth: July 23, 1987
Birthplace: San Jose

PROFESSIONAL PROFILE
Year 2006 Abonos Agro S.A.
Since 2006 work in Abonos Agro S.A. in different positions ( billing, credit and collections, inventory control), and now I'm working here.

ACEDEMIC PROFILE

1999-Miguel Obregon Lizano- Completion of Primary Education.
2005-Liceo Mauro Fernandez Acuña- Bachelor in Secondary Education.
2006-present ULACIT - Bachelor in Public Accounting. (Studying)
2007-Strategic Legal Collection
2007-Character management, Emotional Intelligence and Negotiation
2011-Use of accounting information for making decisions

Reflection

What do you know as a result of participating in the class discussion that you did not know before?

I released a little more time to express is, has reduced the penalty for speaking in public, I've also learned a number of grammatical structures that comprise the English language and vocabulary in general, and to maintain a line time, that is if you talk in the past to keep the conversation in the past.

What can you do as a result of participating in the class discussions that you couldn’t do before?

The understanding is that now I can understand more easily to different people, or my ear has been trained to not only understand the teacher or one a specific person, in addition to understanding a lexicon higher.

What could you teach someone to know or do as a result of participating in the class discussions that you couldn´t teaches them before?

I think beyond teaching, could have a conversation longer, and give me better explain and invite to talk to different people.

Leonardo Blanco Barquero

1-1321-0820

Reflection

Learning to speak English well may be the best thing you can do to improve your life, for example talk and write letters to interesting people that others can't communicate with Impress people around you whenever you opened your mouth, Make big jumps in your career, leaving others miles behind, You can get all this if you speak English well.
Learning English is important in the life all people, because is one tools for defend themselves in a better way in the work life, however not all have the same facilities for learn for example in my case is very difficult express in English because is shameful for me.
In this course I learned that if you participate not practice therefore try to participate, but I think the form as a evaluated this class is much subjective; this course help in my new work because is the Bilingual company where most of the time read and write English.
This course provides an important tool to me in my career to continue receive victories, creating personal and professional satisfaction

By Franciny Alvarado Cedeño

Reflection

What do you know as a result of participating in the class discussion that you did not know before?

Mainly what is to keep the same tense at a time, for example follow the line of the past but combining a little of this and so achieve a conversation much more real logic and thus achieving a better understanding of the language and a greater chance personal and professional growth using English as a second language.

What can you do as a result of participating in the class discussions that you couldn’t do before?

Deeper conversations with technical issues also develop a more advanced ability to understand. An ability to understand more lectures and exhibitions, and the ability of interact with other people how is in the same level o more advance level than me.

What could you teach someone to know or do as a result of participating in the class discussions that you couldn´t teaches them before?

Could perhaps be made ​​to develop better conversation and achieve a more technical way to convey your views or simply develop your opinion and that others will understand.

By: Daniel Figueroa Villalobos

1-1357-0563

REFLECTION

In general the course was good, although we as students have had a bad training and our seed has been very weak. The teacher has tried the class developed dynamically and we students more on the developer to talk and listen.
I actually always been a person a little bit shy to speak English and I have many weaknesses in the pronunciation and phonetics, the teacher noticed from the beginning that problem and treatment that my participation was greater. This caused me to lose that fear and improve my pronunciation. The Discussions have been interesting subjects and have achieved a good projection of students and so far if you achieve an improvement in my pronunciation.
Personally I think the English university has been a bit bad, I really had the idea that was going to be bilingual and uncertain results. I have taken the English from the basics and not getting what we expected. I think the wrong approach to university in the past has resulted in many students have problems with the English and the achievement of the objectives, taking into account that it is a requirement for graduation. in general see that the level is low and what I learned was not expected, but I think that lack focus on pronunciation, phonetics, in speaking and listening.
The program is based on the grammar, which is very essential, but it is also important for the student to speak and be adaptable to any foreigner who speaks the language. I am the teacher convection is able to give this class, I did not hurt a teacher so from the start in basic English, because she was able to identify my problems from the start.


ADRIANA ALVARADO

IFRS Little Course

In this animated video, shows a very general level some of the meaning of IFRS, its implications and what is the fundamental objective in your application, you can qualify with a small tutorial of IFRS.
It is a short introduction that can generate the interest necessary for full implementation of IFRS, however, is a very general video, which shows a simple side to carry around this.

Leonardo Blanco Barquero

1-1321-0820

Wiley Accounting

Some experts talking about some of the implications of implementing the IFRS in different parts of the world has changed and how the results have been presented so far, from here we can see a little of the importance of these standards.
This video might be helpful because it lets us know the choice of professionals regarding the application of IFRS, there are several interesting facts that may be helpful.

Leoanrdo Blanco Barquero

1-1321-0820

Wave Accounting

For some small businesses, this video can help them, as it provides a tool (program) online that can be used free of charge and assist in all tasks related to accounting in general is a useful tool, as it remains current.

This program is quite simple to use, and does not need any tutorial, which makes it even more interesting, just as is recommended for small companies that do not have the ability to record a proper system of accounting.

Leonardo Blanco Barquero

1-1321-0820

Why Are Ethics Important in Accounting? -- powered by ehow

This video is important because is the form as a the accountant should walk for the life

Why Do We Need Accounting?

Asking that question of an accountant is like asking a farmer why we need rain. We need accounting because it’s the only way for business to grow and flourish. Accounting is the backbone of the business financial world. After all, accounting was created in response to the development of trade and commerce during the medieval times.

Italy is our first recorded source for accounting entries, and the first published accounting work in 1494 was by a Venetian monk. So you see accounting as an organized method for record-keeping has been around almost as long as the trade and business industries. Another interesting fact is the knowledge and principles upon which the first accounting practices were established, have changed very little in the many hundreds of years that accounting has been in use. The concepts of assets, liabilities, and income and the need to reconcile these areas is still the basis for all accounting functions today.

The process for recording those transactions, and the many reports generated by the compilation of that information has evolved over the last two hundred years. Thanks to the creation of computers, many of the bookkeeping functions that are vital to accounting, but somewhat repetitive are performed by data entry clerks, and the reports generated come from the IS Department. The end result is still the same: accounting gives us the financial snapshot we need in order to make solid business decisions about the current status or projected future health of our businesses.

There are two basic categories of accounting: financial accounting and managerial accounting. Financial accounting is comprised of information that companies make available to the general public: stockholders, creditors, customers, suppliers, and regulatory commissions. Managerial accounting deals with information that is not made public. Information such as salary costs, Cost of goods produced, profit targets, and material control information. The knowledge supplied by managerial accounting is for the use of department heads, division managers, and supervisors to help them make better decisions about the day-to-day operations of the business.

Now, what about the “accountability” part of the accounting process? Why do we need that and how do we enforce it? Businesses need to be held accountable for the methods they use to run a business because the potential for greed, theft, and dishonesty exist in every business. You have only to read the current events section of the newspaper to realize how rampant corporate abuse is in business today. We have Enron, HEALTHSOUTH, and Martha Stewart examples to show us just how extensive the problem has become. There are specialized areas of accounting, that when correctly enforced, eliminate the possibility for fraud. Auditing and income taxation, when used correctly, force business to account for all business income, transactions, and transfers, and then to pay their fair share of the tax burden. The catch here is that the principles must be correctly enforced.
Accounting is the conscious of the business world. When handled with care and with respect, it performs as expected. When abuse occurs, and the system is circumvented or overridden because of dishonesty and greed, it doesn’t work correctly. Accounting is much like all other systems in place, they are only as good as the people using them.

Costa Rica: Reform fiscal or tax package?

Costa Rica: Reform fiscal or tax package?
by Juan Carlos Hidalgo

campaign said he would not talk of more taxes while the economy was found weak, President Laura Chinchilla and his Chancellor of the Exchequer, Fernando Herrero, are on the eve of presenting an ambitious tax package, even when the main indicators of economic activity shows worrying signs of slowdown. The reasons why we find ourselves in a serious fiscal situation - and if the resolution of the Government is right - deserve a debate this year.
First it must be clear that acute fiscal deficit of the country - the largest in Latin America according to the ECLAC - has been caused by an increase in excessive public expenditure in the past three years, and not by a decline in income as wanted it to present the Minister Smith.
In fact revenues from the central Government as a proportion of GDP fell in less than 7% from 2008 to 2010, while spending grew during this period a 28.7% - an increase unprecedented in the last 30 years-.
Therefore, any solution to the fiscal problem must necessarily start to control the increase in public expenditure, since otherwise the new taxes will be allocated to pay for more spending and the country will continue on the same path of fiscal instability.
Increase in spending
Unfortunately, the Chinchilla Administration does not sample of austerity: the regular budget for the 2011 - the first produced by this Government - spending increases 10% in real terms over the previous year.
Minister Smith still has not submitted to the Legislative Assembly tax bill, but its main components are outlined in a presentation yours entitled "A tribute to Costa Rica: towards a proposal for tax reform". The content of this serves to prove that what he wants the Government is not a comprehensive fiscal reform to solve the financial problems of the country definitively, but it is a simple package of taxes that would serve as a patch to reduce the fiscal deficit in the short term, in the best cases without even aspire to eliminate it.
Just look at the numbers: as data of the Comptroller General of the Republic, revenue in 2010 have amounted lip service to 14.8 per cent of GDP, while expenditures amounted to 20.2 per cent. Even if tax Herrero project reached its objective of raising revenue at 2.5% of GDP - which is a big assumption given the background of other taxes--the gap between income and expenditure packages is so broad that it would leave a significant fiscal deficit. Worse still, this will exacerbate quickly if, as indicated by the evidence, the Government is unable to escape this maelstrom of spending.
Proof of this is that the 32 slides of the presentation in Herrero, only two refer to public expenditure (the rest talk about tax increases): the first indicates a structural reduction in spending equivalent to 2% of GDP would imply either the Elimination of 25% of the State payroll, the cessation in the payment of interest on the debt, or disbursement of only 15% of pensions, among other fatalistic scenarios.
In this way, Herrero ruled out any substantial reduction of discharges, whose growth in recent years has been the largest in the history of modern Costa Rica. In the second slide, Herrero limited its commitment to control spending to say that in the next few years the "current expenditure" grow at the same rate of GDP, i.e. simply restrict their increase at the rate of growth of the economy.
Interestingly, Smith only mentions "current expenditure", setting aside the "capital expenditure" than from the budget for the 2011 - due to an accounting triquiñuela of finance aimed to circumvent the legal provisions on control of the deficit - includes also expenditure in education, health and housing. In such a way, one growing public spending would be outside saying Government commitment to control discharges.
Little credible
It is little credible Herrero argument that public spending cuts would cause a serious social upheaval. In recent months and years we have been exposed to a lot of news to show the high level of waste and abuse in the public sector: in 2009, we learned of the bridges Directorate of the Ministry of public works and transport, a body that in the last Government had spent more than $27 million in "bridges consulting" without having fixed one only.
Obsolete institutions such as the IDA (Instituto de Fomento and Municipal Consulting), IFAM (Institute for agricultural development), NOC (national production Council), etc., generate you losses to the Treasury every yea

Recession or speculation?

Different criteria divide specialists about the possibility of a fall in the production of States United Edition 831Sergio Morales Chavarría Para some, the economy of United States only needs a tripping and that would be enough if you descend tropezón into a new recessionary period. On the optimistic side, that will not happen; Although limping, United States to avoid falling into the hole decrease and the negative numbers. "The fact is that there are arguments for either of the two scenarios may happen. "We should expect" is one of the most commonly used these days by those who analyzed the market. This means that they are waiting for more evidence enabling them to make a statement with more security. While both the economies of the North Atlantic be United States and the European, walk in a flimsy manner while the rest of the world observes and is waiting for what will happen in the coming months. In addition, last week joined unusual volatility in stock markets around the world. Falls estrepitosas in bags a day and recovery the following day. Tripping everything occurred later in the firm of risk rating Standard & Poor's degrade the rating of the American debt from AAA to AA +.Days earlier, on 2 August, United States Congress had approved the increase of the limit of debt in that country to the edge of time allowed. This was interpreted as a bad sign and a sign of the political inability and lack of leadership to deal with the current economic problems. Meanwhile, on the other side of the Atlantic, the old continent is also concerned about a setback caused by the problems of high indebtedness of its peripheral countries and the possible catch larger Nations. However, to calm, the European Central Bank went on the market to buy bonds of Spain and Italia Los fears of a new economic crisis also came to Costa Rica. On 9 August, the economic authorities of the Government acknowledged that the country lacks capacity to face a decrease and that the only solution is to make a fiscal reform and increase the tax burden. For the time being, indicators which leads the Central Bank of Costa Rica show a growth of production away from negative numbers However, within households, the current conditions and expectations aren't a cheerful walk .In a poll of last July, found that 76% of Costa Ricans considered that they are still in crisis and the consumer confidence index in July confirmed that consumers have increased this year distrust the 2010.Criterios divided between specialists consulted by EF divided criteria exist because some are easily sufficient reasons that countries go for face to face in the recession. Others are difficult to relapse and rather see signs of more economic strength in comparison with the period prior to the crisis of the 2008.Para Mark Weisbrot, Co-Director of the Center for research in politics and Economics in Washington, capital American, the actions of the Federal Reserve and the absence of symptoms similar to previous crises, such as the housing bubble away the idea of the economic recession .The criterion of Weisbrot is different for Europe, region that considered closer to fall into trouble because they did not follow policies to stimulate economic growth. Boris Segura, strategist for Latin America of the firm Nomura Securities, is another that they supported the idea that it will avoid a fall in production in United States recognizes that the rates of progress are anemic and unemployment levels are high, says that EE.UU. It maintains an important excess productive capacity that can support the growth, even though this is weak. Secure explained that, in addition, for this second half not will present conditions were in the first part of the year and that in one way or another affected the performance of the Americans. Among them, for example, a severe winter, a strong impact of thunderstorms with tornadoes in several cities and the coup of the earthquake in Japan industrial supply chains. Figures who have so far included the same gross domestic product (GDP), the results of corporate profits and the indicators of domestic demand are evidence to know that not will be recession, said Douglas Montero, Manager of international business of opposite Values. Al market, the Costa Rican Economist Ennio Rodríguez, who is an adviser for a multilateral agency one is of those who considered Yes we head to a fall. Aspects how cuts in the stimulus and highly indebted consumers are part of the trip that will take to the floor

What is Accounting?

In the following video we will explain what the accounts are. What are debits and credits?, how to do accounting?, what is a double registration? and what`s the purpose of the accounting equation?
It is important that everyone understand this video and that accounting is the same from the day you think to this day, which changed its purposes are and how to interpret a record but its essence is the same. And we will saw a few terms of bussiness really easys.ç

By: Daniel Figueroa Villalobos
1-1357-0563

Basic Accounting Principles Explained

The following video explains some accounting quite difficult to understand when you do not know anything about accounting. The purpose is to let them clear so that in the future are simple to understand and present challenges for the future manager or general manager.
But are basic principles to help understand any text book.

By: Daniel Figueroa Villalobos
1-1357-0563

Why is accounting important?

Accounting is a tool that facilitates decision-making process in any economic entity.
In the following video we will see, in a rather comical, which is accounting and how you can help in any organization so you know where I am and where I want to go.
Accounting helps us analyze our daily life and ask, actually serves us?

By: Daniel Figueroa Villalobos
1-1357-0563

Office Administration & Accounting Technologies program at Skagit Valley...

BY : ADRIANA ALVARADO

Importance of Business Accounting

BY: ADRIANA ALVARADO

The implementation of IFRS

In the U.S. in 2009

In a regulatory sea change that could cost billions of dollars, thousands of U.S. companies — plus foreign corporations that do business here — will adopt global financial reporting rules within five years if regulators have their way.

The impact is likely to surpass that of the Sarbanes-Oxley Act of 2002, the tough anti-corporate fraud law of the Enron era that cost individual businesses millions of dollars in accounting fees. Whether U.S. companies like it or not, the new era of global accounting appears unstoppable, and businesses that ignore the International Financial Reporting Standards (IFRS) will fall behind.
The long march to IFRS would be grueling and the preparations expensive to carry out. Companies would need two to three years to upgrade their communications and software systems and to train many thousands of financial professionals. Regulators, CPAs and investors would need to intensely study global accounting principles. Business schools would have to teach students the new accounting.

In an interview, Sir David Tweedie, chairman of the International Accounting Standards Board in London, says the growth of the global economy means "we must eventually end up with a common system of regulation, auditing and accounting."

The two major accounting standards organizations — the International Accounting Standards Board and the Financial Accounting Standards Board in Norwalk, Conn. — have been toiling for several years to move the USA toward global rules.

Publish 01-05-2011

In 2009 in the United States begins to implement IFRS, but people were skeptical about the change and emphasized the economic effort that meant, but today is a day most of the companies that has recurred in The United States, comply the standardization and continues to be updated according to the rule, this means a greater effort.

Today the situation is different ...

Leonardo Blanco Barquero

1-1321-0820

Basic Accounting

Remember some basic terms of accounting.


Inventory


There are three basis approaches to valuing inventory that are allowed by GAAP -

(a) First-in, First-out (FIFO): Under FIFO, the cost of goods sold is based upon the cost of material bought earliest in the period, while the cost of inventory is based upon the cost of material bought later in the year. This results in inventory being valued close to current replacement cost. During periods of inflation, the use of FIFO will result in the lowest estimate of cost of goods sold among the three approaches, and the highest net income.


(b) Last-in, First-out (LIFO): Under LIFO, the cost of goods sold is based upon the cost of material bought towards the end of the period, resulting in costs that closely approximate current costs. The inventory, however, is valued on the basis of the cost of materials bought earlier in the year. During periods of inflation, the use of LIFO will result in the highest estimate of cost of goods sold among the three approaches, and the lowest net income.


(c) Weighted Average: Under the weighted average approach, both inventory and the cost of goods sold are based upon the average cost of all units bought during the period. When inventory turns over rapidly this approach will more closely resemble FIFO than LIFO.

Leonardo Blanco Barquero

1-1321-0820

Comparability

Comparability for IFRS Companies Will Grow up.

The IFRS Foundation has heard from constituents who are concerned that the current IFRS taxonomy may be challenging to use because it contains so few tags when compared with the U.S. GAAP Taxonomy. The IFRS taxonomy contains some 2,550 elements while the GAAP taxonomy contains about 13,000.

The key difference is that GAAP is more prescriptive, so there are more specific requirements that can be described by more detailed, more precisely defined tags. IFRS is based more on principles than prescriptive requirements, so it’s simply not as straightforward to establish precise tags for every conceivable way companies might elect to report something.

The Foundation’s XBRL team studied the financial statements of about 200 companies that report under IFRS in countries and industries throughout the world, identifying disclosures that are most common among those companies.

The IFRS taxonomy is continuously updated to reflect changes in accounting standards as they are released by the IASB. This assures companies referring to the taxonomy can be confident they reflect the latest IFRSs as they are issued and become requirements for IFRS filers. This is important given how dispersed IFRS filers and XBRL filers are around the globe. To date, some 120 countries have adopted IFRS, and about 25 of those countries are now using or implementing the IFRS taxonomy for XBRL filings.

It will be important for the IFRS Foundation to receive broad feedback to the taxonomy’s interim release to assure it accurately reflects the reporting practices most common among IFRS filers. This is the only way to assure the greatest comparability possible, which is essentially if XBRL is to truly become a useful reporting platform.

Publish July 19,2011

Leonardo Blanco Barquero

1-1321-0820

The Significance of a Financial Statement Analysis

Financial statement analysis is a significant business activity because a corporation's financial statements provide useful information on its economic standing and profit levels. These statements also help an investor, a regulator or a company's top management understand operating data, evaluate cash receipts and payments during a period and appraise owners' investments in the company.

Function
Financial statement analysis allows a corporation to review operating data and evaluate periodic business performance. For instance, Company A may analyze levels of cash, inventories and accounts receivable to appraise short-term assets. A corporation also may analyze financial statements to gauge levels of cash flows and owner investments. Alternatively, a regulator, such as the Securities and Exchange Commission (SEC), may review a company's retained earnings statement to appraise corporate shareholders' accounts


Benefits
Financial statement analysis may be pivotal for management to understand levels of cash receipts and disbursements in corporate operations. A statement of cash flows lists cash flows related to operating activities, investments and financing transactions. A statement of owners' equity may help an investor identify a company's shareholders. For example, Mr. A., the CFO of the sample company, may review cash payments for operating activities to gauge trends in interest payments.





ADRIANA ALVARADO

IFRS for SMEs

The IFRS for SMEs is a self-contained standard of 230 pages, designed to meet the needs and capabilities of small and medium-sized entities (SMEs), which are estimated to account for over 95 per cent of all companies around the world.

Topics not relevant for SMEs are omitted. Examples: earnings per share, interim financial reporting, and segment reporting. Where full IFRSs allow accounting policy choices, the IFRS for SMEs allows only the easier option. Examples: no option to revalue property, equipment, or intangibles; a cost-depreciation model for investment property unless fair value is readily available without undue cost or effort; no ‘corridor approach’ for actuarial gains and losses. Many principles for recognising and measuring assets, liabilities, income and expenses in full IFRSs are simplified. For example, amortise goodwill; expense all borrowing and R&D costs; cost model for associates and jointly-controlled entities; no available-for-sale or held-to-maturity classes of financial assets. Significantly fewer disclosures are required (roughly 300 versus 3,000).




ADRIANA ALVARADO

U.S. ECONOMY STILL PAYING FOR PAST DEBT BINGE

The debt fight that played out in the nation’s capital this long, hot summer and the ensuing U.S. credit downgrade by Standard & Poor’s was the latest chapter of a painful story that began years ago.

In the 2000s, banks, homeowners and consumers became bloated on too much leverage, or borrowed money. The end result: a dramatic shrinkage of credit throughout the economy, a phenomenon known in economic circles as “deleveraging.”

It’s a situation the government and the Federal Reserve have been grappling with ever since, throwing trillions of dollars at the problem. Tuesday, the Fed’s policy committee is meeting to assess the current state of the economy. While last week’s July jobs report was slightly better than expected, the economy still isn’t adding enough jobs to keep pace with population growth.

Still, despite abundant signs that the economy is losing steam — starkly highlighted by gut-wrenching market plunges Monday and last week — few expect policymakers to unveil new stimulus plans.

Skeptics say that while the Fed may roll out new stimulus plans down the road, the problems weighing on the economy, such as a moribund housing market and a zombie consumer, are beyond the central bank’s powers to fix. “The Fed in terms of monetary enticement has done about all it can do,” says Bill Gross, co-chief investment officer of Pimco, one of the world’s largest bond funds.

Is the arsenal empty?

While the Fed appears to be running out of bullets, the government is also low on ammunition. As the fractious debt fight in Washington demonstrated, deleveraging has spread to the government itself. State and local governments are instituting draconian cutbacks. Congress voted last week to trim $2.1 trillion from the federal deficit in the next 10 years, a remarkable move toward austerity at a time that the economy is barely growing.

The result for America could mean the slowdown that has led to an unemployment rate north of 9% will last for years. With increased government spending largely sidelined as a result of the debt-ceiling debate, there’s little cushion for the economy if it slips again into a recession.

“The government balance sheet took the place of corporations and private households,” says Gross of Pimco. “But now there’s no balance sheet that’s not suspect in the current year or future years.”

Pimco has taken a negative stance on U.S. Treasuries, in part because they yield a very low rate of interest. Instead, Gross prefers the debt of countries with higher rates, such as Canada, Mexico, Brazil and Germany.

No quick cure for credit busts

The fact that the economic quagmire is the result of deleveraging helps explain why the recovery has been so weak and long-lasting, economists say. A 2010 study by the McKinsey Global Institute called “Debt and Deleveraging,” a study of 45 historic episodes of credit busts, found that it takes an average of six to seven years for an economy to emerge from a deleveraging process.

One reason is that deleveraging has powerful self-reinforcing effects. If consumers aren’t spending because of a high debt load, businesses stop hiring, further hurting consumer spending. Banks grow cautious because of the uncertain environment, making it hard for both consumers and businesses to get loans.

When faced with such a dire situation, the government will typically provide the economy with a shot in the arm through tax cuts or spending projects. Trouble is, the government appears to be out of stimulus bullets. The recent budget plan hammered out by Congress contains plans to cut spending by about $22 billion in fiscal 2012, which will have a moderate negative impact on the economy.

Now, the Fed appears to be the final backstop for the economy. The central bank has gone to extraordinary lengths in the past three years to spur growth, cutting short-term interest rates to nearly zero, putting shaky mortgages on its balance sheet, and buying hundreds of billions’ worth of Treasury bonds.



ADRIANA ALVARADO

Costa Ricas Laws

Here is a link where we can see all the laws of Costa Rica, this portal can interact with the laws, read them, interpret them and discard them. This website was created by the Legislature of the country.
This portal is freely available, as well as subscriptions can be made to receive regular information on laws, regulations and codes.
(Just click on the picture or te tittle)

COSTA RICA LAWS

By: Daniel Figueroa Villalobos
1-1357-0563

Zureo Contable v1.0

Now, we present a simple accounting tool to use and free online to simplify the work of all accountants.
This simple application has several modules, cash registers, accounting records, financial reports, in short all types of modules needed to process information and create simple and understandable financial statements.





Cooing Accounting v1.0 - Shareware - Win 2000/XP/2003/Vista/2008
An intuitive accounting software, automated and with a nice atmosphere. With cooing Accounting Accounting is seen as a much more friendly. Everything you need to get a full accounting from the first seat to balance. Eagle allows us to manage the journal, several tax records and list of ...
Tool that, using your own databases Contaplus, performs all billing, collections and remittances, business or professional services.
Introduction automated banking transactions (CBS 43) to Contaplus. 43plus is a program that copies your bank transactions, collected from 43 of the Higher Council Notebook Banking ...
Free accounting software, general purpose for SMEs. Access Accounting is a multi-enterprise multiexercise program that offers a lot of advantages
Management Accountant-vRev.12 Adawin 06-2002 - Shareware - Win 3.x/95/98/Me/NT/2000/XP
Adawin management is an accounting program, easy, intuitive and economical, ideal for small and medium enterprises. It is developed to work in environment ...
Aniconta 2008 - Shareware - Win 95/98/Me/NT/2000/XP
Aniconta accounting software is a powerful and intuitive that you will find it very easy to use. The accounting will find endless menus, including seeking ...
AniFiscal 2008 - Demo - Win XP
Fiscal Anisoft is an application addressed to entrepreneurs and professionals subject to Simplified Direct estimation scheme. Manage easily and effectively
2.918AVAS v1.1.0 - Shareware - Win 98/Me/NT/2000/XP/2003
Agile financial accounting system and tax multi-tenant, multi-user multiexercise. AVAS is for accounting professionals
NET v0.7 860CatWin alpha - GPL - Independent System
Free online accounting package in its early development. Net CatWin is in the process of development

By: Daniel Figueroa Villalobos
1-1357-0563

International Financial Reporting Standards IFRS 2011

International Financial Reporting Standards IFRS 2011
International Financial Reporting Standard, are accounting standards adopted by the IASB, a private institution based in London. They are international standards or international standards in the development of accounting activity and pose a manual accounting, as defined therein guidelines for accounting of how the world is acceptable.

The rules are known by the acronym IAS and IFRS depending on when they were approved and qualify through the "interpretations" that are known by the acronym SIC and IFRIC.

The accounting standards issued between 1973 and 2001, are called "International Accounting Standards" (IAS) were issued by the Committee (IASC) International Accounting Standards Committee, the forerunner of the current IASB. Since April 2001, the year of establishment of the IASB, the agency adopted all IAS and continued their development, calling the new rules "International Financial Reporting Standards' (IFRS).



This RED book edition is presented in two parts:

Part A (the Conceptual Framework and requirements) contains the latest version of International Financial Reporting Standards (IFRSs), International Accounting Standards (IASs), and IFRIC and SIC Interpretations.

Part B contains the accompanying documents, such as illustrative examples, implementation guidance, bases for conclusions and dissenting opinions.

This edition does not contain documents that are being replaced or superseded but remain applicable if the reporting entity chooses not to adopt the newer versions early.

Published: 8th March 2011.
Part A is 1344 pages (one book) containing the standards/interpretations and Part B is 1984 pages (one book) containing the accompanying documents, bases for conclusions etc. Total number of pages for Part A and B is 3328 pages.

By: Daniel Figueroa Villalobos
1-1357-0563