How to link to a specific point of time in Youtube video so that it starts at a specific time

Suppose we have the following Youtube video URL
http://www.youtube.com/watch?v=Bc9axrSMqr8

We want this Youtube video to start at a specific time. In this example, our Youtube video will start at 2 minutes 53 seconds.

Add the following to the URL:
We will get the following URL:
http://www.youtube.com/watch?v=Bc9axrSMqr8#t=2m53s

If you click onto the above mentioned link it will start playing not from the beginning, but at 2 minutes 53 seconds.