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get which of the following is true about the production requirement for the authorized to offer elite status? from EN Bilgi.
Part 45 - Government Property
45.000 Scope of part.
Subpart 45.1 - General
45.101 Definitions. 45.102 Policy. 45.103 General.
45.104 Responsibility and liability for Government property.
45.105 Contractors’ property management system compliance.
45.106 Transferring accountability.
45.107 Contract clauses.
Subpart 45.2 - Solicitation and Evaluation Procedures
45.202 Evaluation procedures.
Subpart 45.3 - Authorizing the Use and Rental of Government Property
45.301 Use and rental.
45.302 Contracts with foreign governments or international organizations.
45.303 Use of Government property on independent research and development programs.
Subpart 45.4 - Title to Government Property
45.401 Title to Government-furnished property.
45.402 Title to contractor-acquired property.
Subpart 45.5 - Support Government Property Administration
45.501 Prime contractor alternate locations.
45.502 Subcontractor and alternate prime contractor locations.
45.503 Support property administrator findings.
Subpart 45.6 - Reporting, Reutilization, and Disposal
45.600 Scope of subpart.
45.602 Reutilization of Government property.
45.602-1 Inventory disposal schedules.
45.602-2 Reutilization priorities.
45.602-4 Interagency property transfer costs.
45.603 Abandonment or destruction of personal property.
45.604 Sale of surplus personal property.
45.604-1 Sales procedures.
45.604-2 Use of GSA sponsored sales centers.
45.604-3 Proceeds from sales of surplus property.
45.604-4 Sale of property pursuant to the exchange/sale authority.
45.605 Inventory disposal reports.
45.606 Contractor scrap procedures.
45.000 Scope of part.
(a) This part prescribes policies and procedures for providing Government property to contractors; contractors’ management and use of Government property; and reporting, redistributing, and disposing of contractor inventory.
(b) It does not apply to-
(1) Government property provided under any statutory leasing authority, except as to non-Government use of property under 45.301(f);
(2) Property to which the Government has acquired a lien or title solely because of partial, advance, progress, or performance based payments;
(3) Disposal of real property;
(4) Software and intellectual property; or
(5) Government property that is incidental to the place of performance, when the contract requires contractor personnel to be located on a Government site or installation, and when the property used by the contractor within the location remains accountable to the Government. Items considered to be incidental to the place of performance include, for example, office space, desks, chairs, telephones, computers, and fax machines.
Subpart 45.1 - General
As used in this part-
Cannibalize means to remove parts from Government property for use or for installation on other Government property.
Contractor-acquired property means property acquired, fabricated, or otherwise provided by the contractor for performing a contract and to which the Government has title.
Contractor inventory means-
(1) Any property acquired by and in the possession of a contractor or subcontractor under a contract for which title is vested in the Government and which exceeds the amounts needed to complete full performance under the entire contract;
(2) Any property that the Government is obligated or has the option to take over under any type of contract, e.g., as a result either of any changes in the specifications or plans thereunder or of the termination of the contract (or subcontract thereunder), before completion of the work, for the convenience or at the option of the Government; and
(3) Government-furnished property that exceeds the amounts needed to complete full performance under the entire contract.
Contractor’s managerial personnel means the contractor’s directors, officers, managers, superintendents, or equivalent representatives who have supervision or direction of-
(1) All or substantially all of the contractor’s business;
(2) All or substantially all of the contractor’s operation at any one plant or separate location; or
(3) A separate and complete major industrial operation.
Demilitarization means rendering a product unusable for, and not restorable to, the purpose for which it was designed or is customarily used.
Discrepancies incident to shipment means any differences (e.g., count or condition) between the items documented to have been shipped and items actually received.
Equipment means a tangible item that is functionally complete for its intended purpose, durable, nonexpendable, and needed for the performance of a contract. Equipment is not intended for sale, and does not ordinarily lose its identity or become a component part of another article when put into use. Equipment does not include material, real property, special test equipment or special tooling.
Government-furnished property means property in the possession of, or directly acquired by, the Government and subsequently furnished to the contractor for performance of a contract. Government-furnished property includes, but is not limited to, spares and property furnished for repair, maintenance, overhaul, or modification. Government-furnished property also includes contractor-acquired property if the contractor-acquired property is a deliverable under a cost contract when accepted by the Government for continued use under the contract.
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For other uses, see Frequent flyer (disambiguation).
United MileagePlus cards
A frequent-flyer program (FFP) (or frequent-flyer programme) is a loyalty program offered by an airline.
Many airlines have frequent-flyer programs designed to encourage airline customers enrolled in the program to accumulate points (also called miles, kilometers, or segments) which may then be redeemed for air travel or other rewards. Points earned under FFPs may be based on the class of fare, distance flown on that airline or its partners, or the amount paid. There are other ways to earn points. For example, in recent years, more points have been earned by using co-branded credit and debit cards than by air travel. Another way to earn points is spending money at associated retail outlets, car hire companies, hotels, or other associated businesses. Points can be redeemed for air travel, other goods or services, or for increased benefits, such as travel class upgrades, airport lounge access, fast track access, or priority bookings.
Frequent-flyer programs can be seen as a certain type of virtual currency, one with unidirectional flow of money to purchase points, but no exchange back into money.
1 History 2 Accrual 2.1 Flying 2.1.1 Bonus points
2.1.2 Minimum credit guarantee
2.2 Credit card purchases
2.3 Other purchases 3 Elite status 4 Redemption 4.1 Flights
4.2 Products and services
4.3 Value of points
5 Accounting and regulatory issues
5.1 Competition 6 Flight shame 7 Mileage runs 8 Status challenge 9 Status match 10 See also 11 References 12 External links
Although United Airlines had tracked customers far back as the 1950s, the first modern frequent-flyer program was created in 1972 by Western Direct Marketing for United. It gave plaques and promotional materials to members. In 1979, Texas International Airlines created the first frequent-flyer program that used mileage tracking to give 'rewards' to its passengers, while in 1980 Western Airlines created its Travel Bank, which ultimately became part of Delta Air Lines' program upon their merger in 1987. American Airlines' AAdvantage program launched in 1981 as a modification of a never-realized concept from 1979 that would have given special fares to frequent customers. It was quickly followed later that year by programs from United Airlines (Mileage Plus), Delta (Delta Air Lines Frequent Flyer Program, which later changed to SkyMiles), Continental Airlines (OnePass), Air Canada (Altitude), and in 1982 from British Airways (Executive Club).
Frequent-flyer programs have grown since. In 2005, 163 million people were enrolled in frequent flyer programs from over 130 airlines. By then, 14 trillion frequent-flyer points had been accumulated by people worldwide, for a value of 700 billion US dollars. When United Airlines filed for bankruptcy in 2002, its frequent flyer program was its only money-making business. Tom Stuker is the world's most frequent flier having logged over 21 million miles with United.
Frequent flyer program rules can be complex; this 1988 pamphlet from TWA's program ran to 27 pages
Main article: List of frequent flyer programs
Most larger airlines around the world have frequent flyer programs; each has a program name, and policies and restrictions regarding joining, accumulating, and redeeming points.
The primary method of obtaining points in a frequent-flyer program until recent years was to fly with the associated airline. Paying expenses using an airline-sponsored credit card, even those charged to an employer, can rack up frequent flyer points. Most systems reward travelers with a specific number of points based on the distance traveled (such as 1 point per mile flown), although systems vary. Many discount airlines, rather than awarding points per mile, award points for flight segments in lieu of distance or the amount paid. For example, a number of airlines in Europe offer a fixed number of points for domestic or intra-European flights regardless of the distance (but varied according to class of travel). With the introduction of airline alliances and code-share flights, frequent-flyer programs are often extended to allow benefits to be used across partner airlines.
Further information: Fare basis code
Most, if not all, programs award bonus earnings to premium-cabin passengers and to their elite-status members based on tier status; earning an extra 25%-100% of miles flown are common bonuses. While these bonus points may not count toward ascension to (or retention of) elite status, they count toward the member's total balance for normal redemption purposes.
Minimum credit guarantee
IAS 38 — Intangible Assets
IAS 38 outlines the accounting requirements for intangible assets, which are non-monetary assets which are without physical substance and identifiable (either being separable or arising from contractual or other legal rights). Intangible assets meeting the relevant recognition criteria are initially measured at cost, subsequently measured at cost or using the revaluation model, and amortised on a systematic basis over their useful lives (unless the asset has an indefinite useful life, in which case it is not amortised). IAS 38 was revised in March 2004 and applies to intangible assets acquired in business combinations occurring on or after 31 March 2004, or otherwise to other intangible assets for annual periods beginning on or after 31 March 2004.
IAS 38 — Intangible Assets
IAS 38 — Intangible Assets Overview
IAS 38 outlines the accounting requirements for intangible assets, which are non-monetary assets which are without physical substance and identifiable (either being separable or arising from contractual or other legal rights). Intangible assets meeting the relevant recognition criteria are initially measured at cost, subsequently measured at cost or using the revaluation model, and amortised on a systematic basis over their useful lives (unless the asset has an indefinite useful life, in which case it is not amortised).
IAS 38 was revised in March 2004 and applies to intangible assets acquired in business combinations occurring on or after 31 March 2004, or otherwise to other intangible assets for annual periods beginning on or after 31 March 2004.
History of IAS 38
Date Development Comments
February 1977 Exposure Draft E9
July 1978 IAS 9 (1978) issued Effective 1 January 1980
August 1991 Exposure Draft E37 published
December 1993 IAS 9 (1993) issued Operative for annual financial statements covering periods beginning on or after 1 January 1995
June 1995 Exposure Draft E50 published
August 1997 E50 was modified and re-exposed as Exposure Draft E59
September 1998 IAS 38 issued Operative for annual financial statements covering periods beginning on or after 1 July 1998
31 March 2004 IAS 38 issued Applies to intangible assets acquired in business combinations occurring on or after 31 March 2004, or otherwise to other intangible assets for annual periods beginning on or after 31 March 2004
22 May 2008 Amended by (advertising and promotional activities, units of production method of amortisation) Effective for annual periods beginning on or after 1 January 2009
16 April 2009 Amended by (measurement of intangible assets in business combinations) Effective for annual periods beginning on or after 1 July 2009
12 December 2013 Amended by (proportionate restatement of accumulated depreciation under the revaluation method) Effective for annual periods beginning on or after 1 July 2014
12 May 2014 Amended by Clarification of Acceptable Methods of Depreciation and Amortisation (Amendments to IAS 16 and IAS 38) Effective for annual periods beginning on or after 1 January 2016
IFRIC 12 IFRIC 20
IAS 16 supersedes SIC-6
Amendments under consideration by the IASB
Research project — Rate-regulated activities
Research project — Intangible assets
Summary of IAS 38
The objective of IAS 38 is to prescribe the accounting treatment for intangible assets that are not dealt with specifically in another IFRS. The Standard requires an entity to recognise an intangible asset if, and only if, certain criteria are met. The Standard also specifies how to measure the carrying amount of intangible assets and requires certain disclosures regarding intangible assets. [IAS 38.1]
IAS 38 applies to all intangible assets other than: [IAS 38.2-3]
financial assets (see IAS 32 )
exploration and evaluation assets (see IFRS 6 )
expenditure on the development and extraction of minerals, oil, natural gas, and similar resources
intangible assets arising from insurance contracts issued by insurance companies
intangible assets covered by another IFRS, such as intangibles held for sale (IFRS 5 ), deferred tax assets (IAS 12 ), lease assets (IAS 17 ), assets arising from employee benefits (IAS 19 (2011)), and goodwill (IFRS 3 ).
Key definitionsIntangible asset: an identifiable non-monetary asset without physical substance. An asset is a resource that is controlled by the entity as a result of past events (for example, purchase or self-creation) and from which future economic benefits (inflows of cash or other assets) are expected. [IAS 38.8] Thus, the three critical attributes of an intangible asset are:
control (power to obtain benefits from the asset)
future economic benefits (such as revenues or reduced future costs)Identifiability: an intangible asset is identifiable when it: [IAS 38.12]
is separable (capable of being separated and sold, transferred, licensed, rented, or exchanged, either individually or together with a related contract) or
arises from contractual or other legal rights, regardless of whether those rights are transferable or separable from the entity or from other rights and obligations.Examples of intangible assets
patented technology, computer software, databases and trade secrets
trademarks, trade dress, newspaper mastheads, internet domains
video and audiovisual material (e.g. motion pictures, television programmes)
mortgage servicing rights
licensing, royalty and standstill agreements
customer and supplier relationships (including customer lists)
Intangibles can be acquired:
by separate purchase
as part of a business combination
by a government grant
by exchange of assets