Understanding Construction Projects and Standards
Definition of a Project
A project is a set of documents, both graphic and written, developed by a competent engineer (architect, senior engineer, technical architect, or engineer). It addresses the needs and ideas put forth by the developer or owner of the future construction. This allows for the execution of the work by someone other than the Project’s Technical Director, while adhering to all applicable rules, regulations, and laws.
Types of Projects
- According to the Developer:
- Public Development
- Private
Understanding Rules of Operation, System Design, and Resources
Rules of Operation: An In-Depth Look
Rules of operation are checks that govern how, when, and where activities occur. They determine what action to take when certain events occur or under specific conditions.
At the highest level, they take the form of plans and policies. At a lower level, they take the form of procedures or program logic (computer).
Examples of Rules of Operation
- Process-Planning Instruction Sheets
- Plans Production-Performance Limits
- Work Plans, Programs Drivers
- Automatic Maintenance
Understanding International Financial Reporting Standards (IFRS)
International Financial Reporting Standards (IFRS)
International Financial Reporting Standards (IFRS) are Standards, Interpretations, and the Framework for the Preparation and Presentation of Financial Statements (in the absence of a Standard or an Interpretation) adopted by the International Accounting Standards Board (IASB).
Many of the Standards that form part of IFRS are known by the older name of International Accounting Standards (IAS). IAS were issued between 1973 and 2001 by the Board of the
Read MoreEmployment Termination: Regulations and Procedures
Regulation of Employment Records
This document outlines the administrative procedure to obtain authorization to suspend or terminate the employment relationship for selected causes, guaranteeing the rights of workers.
When is this procedure followed?
- Collective dismissal based on economic, technical, organizational, or production reasons.
- Suspension or termination of employment due to force majeure.
- Suspension of the employment relationship based on economic, technical, organizational, or production
Understanding the Audit Risk Model: AR, IR, CR, and DR
The Audit Risk Model
The audit risk model is represented by the following formula:
AR = IR x CR x DR
Where:
- AR: Audit Risk: The risk of the auditor issuing an unqualified opinion on financial statements that are materially misstated. It’s the level of risk the auditor is willing to accept. (AR is typically set low, e.g., 0.1 – 10%)
- IR: Inherent Risk: The susceptibility of the financial statements to material misstatement, *before* considering the effects of internal controls. It’s the probability of
Banking, Accounting, and Tax Terms Explained
Banking, Accounting, and Tax Terms
Banking Terms
BRANCH (sucursal): One of a bank’s local offices.
EXPAND (expandir): To make something increase.
CLIENTELE (clientela): People who visit a particular business.
MOTIVATE (motivar): To inspire someone to do something.
SUPERVISE (supervisar): To monitor and direct something.
WORK ETHIC (etica de trabajo): A belief in working hard.
RELATIONSHIP (relación): The way people interact with each other.
BANK MANAGER (director de banco): Someone who supervises the
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