...February Opportunity Recognition as Pattern Recognition: How Entrepreneurs “Connect the Dots” to Identify New Business Opportunities by Robert A. Baron* Executive Overview How do entrepreneurs identify opportunities for new business ventures? One possibility, suggested by research on human cognition, is that they do so by using cognitive frameworks they have acquired through experience to perceive connections between seemingly unrelated events or trends in the external world. In other words, they use cognitive frameworks they possess to “connect the dots” between changes in technology, demographics, markets, government policies, and other factors. The patterns they then perceive in these events or trends suggest ideas for new products or services—ideas that can potentially serve as the basis for new ventures. This pattern recognition perspective on opportunity identification is useful in several respects. First, it helps integrate into one basic framework three factors that have been found to play an important role in opportunity recognition: engaging in an active search for opportunities; alertness to them; and prior knowledge of an industry or market. In addition, it also helps explain interrelations between these factors (e.g., the fact that active search may not be required when alertness is very high). Second, a pattern recognition perspective helps explain why some persons, but not others, identify specific opportunities. Third, a pattern recognition framework suggests...
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...Voice Activated Device/ MD Dictation Speech recognition devices are widely used by physicians because they provide many advantages in the health care environment that they practice. Due to managed care, doctors are restricted in the amount of time they can spend with their patients because they use most of their time doing paperwork that is required of them. Speech recognition systems such as dictation programs and devices have brought a new outlook for the application of technology in healthcare organizations especially among physicians. Dictation programs and devices allow doctors to use the time formerly spent on record keeping to see more patients. Many programs and devices exist today that physicians can choose from. Every device or program offered by a medical vendor contains advantages and disadvantages. It is therefore imperative that physicians choose a product that best compliments their treatment practices. In the early days, the benefits of voice-activated programs and devices were limited by the lack of memory capacity and speed of personal computers. Early versions ran on mainframe computers and had a limited vocabulary. Discrete speech was the first application of this technology that was created. This technology used a discrete speaking style that required the speaker to pause between words so that the engine could identify each word accurately (Scott). Most users believed these short pauses to be impractical even though it was highly accurate. ...
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...Development of Attendance Management System using Biometrics. O. Shoewu, Ph.D.1,2* and O.A. Idowu, B.Sc. 1 1 Department of Electronic and Computer Engineering, Lagos State University, Epe Campus, Nigeria. 2 Department of Electrical and Electronics, University of Benin, Edo State, Nigeria. E-mail: engrshoewu@lasunigeria.org* ABSTRACT In this paper, the development of an attendance management system using biometrics is proposed. Managing student attendance during lecture periods has become a difficult challenge. The ability to compute the attendance percentage becomes a major task as manual computation produces errors, and also wastes a lot of time. For the stated reason, an efficient attendance management system using biometrics is designed. This system takes attendance electronically with the help of a finger print device and the records of the attendance are stored in a database. Attendance is marked after student identification. For student identification, a biometric (fingerprint) identification based system is used. This process however, eliminates the need for stationary materials and personnel for the keeping of records. Eighty candidates were used to test the system and success rate of 94% was recorded. The manual attendance system average execution time for eighty students was 17.83 seconds while it was 3.79 seconds for the automatic attendance management system using biometrics. The results showed improved performance over manual attendance management system....
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...theme Revenue Recognition R evenue is usually the largest single item in financial statements, and the issues involving revenue recognition are among the most important and difficult ones that standardsetters and accountants face. In recent years, concerns related to the recognition of revenue in accordance with Accounting Standards have heightened significantly. Quite often, companies end up tweaking the Revenue numbers, besides some other reasons. Recording revenue improperly is also a commonly used ‘earnings management technique’. The ever evolving business models and the growing online economy have only compounded the issue. Earnings Management/Issues with revenue recognition have been the subject of headlines in the United States and in the other parts of the world in the last few years. -Shrikant Sortur The author is a member of the Institute as well as AICPA, working with Lason Systems Inc, MI, USA. He can be reached at shrikant_ sortur@yahoo.com Revenue Recognition Under US GAAP It is estimated that Revenue Recognition related aspects appear in close to two hundred different pieces of accounting literature; of course these pieces of literature include many nuances, some of which are unique to particular transactions. Since no comprehensive standard on revenue recognition exists, there is a significant gap between the broad conceptual guidance in the Financial International Accounting Standards (IAS) are drafted on a ‘Principles-based’ approach....
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...Student Attendance System Based On Fingerprint Recognition and One-to-Many Matching A thesis submitted in partial fulfillment of the requirements for the degree of Bachelor of Technology in Computer Science and Engineering by Rishabh Mishra (Roll no. 107cs016) and Prashant Trivedi (Roll no. 107cs015) Under the guidance of : Prof. B. Majhi Department of Computer Science and Engineering National Institute of Technology Rourkela Rourkela-769 008, Orissa, India 2 . Dedicated to Our Parents and Indian Scientific Community . 3 National Institute of Technology Rourkela Certificate This is to certify that the project entitled, ‘Student Attendance System Based On Fingerprint Recognition and One-to-Many Matching’ submitted by Rishabh Mishra and Prashant Trivedi is an authentic work carried out by them under my supervision and guidance for the partial fulfillment of the requirements for the award of Bachelor of Technology Degree in Computer Science and Engineering at National Institute of Technology, Rourkela. To the best of my knowledge, the matter embodied in the project has not been submitted to any other University / Institute for the award of any Degree or Diploma. Date - 9/5/2011 Rourkela (Prof. B. Majhi) Dept. of Computer Science and Engineering 4 Abstract Our project aims at designing an student attendance system which could effectively manage attendance of students at institutes like NIT Rourkela. Attendance is marked after student...
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...REVENUE RECOGNITION MULTIPLE CHOICE—Conceptual AnswerNo.Description c1.Revenue recognition principle. b2.Definition of "realized." a3.Definition of "earned." d4.Recognizing revenue at point of sale. d5.Recording sales when right of return exists. c6.Revenue recognition when right of return exists. d7.Revenue recognition when right of return exists. b8.Appropriate accounting method for long-term contracts. c9.Percentage-of-completion method. b10.Percentage-of-completion method. c11.Classification of progress billings and construction in process. b12.Calculation of gross profit using percentage-of-completion. a13.Disclosure of earned but unbilled revenues. c14.Revenue, cost, and gross profit under completed contract. b15.Disadvantage of using percentage-of-completion. a16.Loss recognition on a long-term contract. c17.Accounting for long-term contract losses. d18.Criteria for revenue recognition of completion of production. a19.Completion-of-production basis. c20.Presentation of deferred gross profit. c21.Appropriate use of the installment-sales method. b22.Valuing repossessed assets. b23.Gross profit deferred under the installment-sales method. b24.Income recognition under the cost-recovery method. b25.Income recognition under the cost-recovery method. d26.Cost recovery basis of revenue recognition. d*27.Allocation of initial franchise fee. a*28Recognition of continuing...
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...General Instructions There are ten cases included in this packet (Cases #1 through #9). You are responsible for reading all nine cases prior to class on Monday, October 7th. In addition, your group is responsible for informally presenting the solution to one case on that date. The case assigned to each group corresponds to your group number. Your presentation should take the form of “teaching” the rest of the class the material related to the case. Keep in mind that for exam purposes all groups are responsible for the content and solutions to all cases so your group’s effectiveness at teaching the material is invaluable to your classmates. How you can best accomplish your task is up to you but you should, at a minimum, include the following in your presentation: • An overall summary of the case facts; • An explanation of the key accounting issue(s); • An identification and discussion of the relevant sections of the FASB Accounting Standards Codification; • A demonstration as to how the relevant authoritative accounting literature was interpreted and used to address the facts in your case; • A discussion of the accounting conclusions reached; and • Any required journal entries In addition to the in-class informal presentations, your group is also responsible for preparing a memo which includes a summary of: • The case facts so that the reader knows the background and the substance of the accounting issues in your case; • The relevant...
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...many years. It does not make sense to expense the full cost of the building or the airplane at the time of purchase because each will be used for many subsequent periods. Instead, we determine the impact of each transaction on specific accounting periods. When determining the amount of revenues and expenses to report in a given accounting period can be challenging. Proper reporting requires an understanding of the nature of the company’s business. Two principles are used as guidelines; they are the revenue recognition principle and the matching principle. The revenue recognition principle requires that companies recognize revenue in the accounting period in which it is earned. For example, in a service company, revenue is considered to be earned at the time the service is performed. When recognizing expenses, a simple rule is followed; “Let the expenses follow the revenues.” Which means expense recognition is tied to revenue recognition. The practice of expense recognition is referred to as the matching principle because it dictates that efforts (expenses) be matched with accomplishments (revenues). Recognizing expenses too early overstates current period expense; recognizing them too late understates current period expense. Cash-basis and accrual-basis accounting use different criteria for determining when to recognize and record...
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...1. Is Eye Vision’s arrangement with Holland Hospital within the scope of ASC 985-605, Software: Revenue Recognition? In this case, the main content of the Eye Vision’s arrangement with Holland Hospital include embedded software medical equipment and an initial option to purchase a two-year separately priced maintenance agreement. In this case, because “Eye Vision has never sold, nor does it offer to sell, the Clear View Laser without the embedded software because the software is necessary to perform the medical procedures for which the laser is intended”, and “Eye Vision has never sold, nor does it offer to sell, the Clear View Laser without the embedded software because the software is necessary to perform the medical procedures for which the laser is intended”. So the software components and non software components of tangible product could be consider function together to deliver the tangible product’s essential functionality, so according the FASB codification 985-605-15-4 and 985-605-15-4A, the equipment and the software are excluded from the Software: Revenue Recognition., Accordingly, the initial option to purchase a two-year separately priced maintenance agreement on the Clear View would be non-software deliverables excluded from the scope of Software: Revenue Recognition. References from FASB codification ASC 985-605-15-4 The guidance in this Subtopic does not apply to the following transactions and activities: e. Software components of tangible products...
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...Have you ever counted the number of cards in your bag? Easy Card, ATM card, insurance card, icash card, credit cards, Starbucks cards, fuel cards…etc. Do you think you are playing poker? Many cards make you feel occupy the space and trouble? If your wallet has many credit cards and it was lost. Unfortunately, you need to go to different banks apply for lost cards. It is really in trouble. If your card lost in accident, and maybe the people who picked it will malicious fraud it , then you will find out that you have lose a lot of money, even somehow owed a lot of money. Using credit card to consume easily without too many constraints that you will spend a lot of money, and then accidentally become the card slaves. Integrate the credit card, iCash、ATM card … etc as a cloud card. The cloud card use RFID to solve the card lost problem. Upload the information to cloud computing that can solve the integrate store system problems. In order to increase the security of the cloud card, we use a fingerprint identification function. When we have to pay a bill after we buy some goods at the store, first, we insert the cloud card into the fingerprint card reader, and then put the finger to the fingerprint sensor. If the fingerprint information is correct , then the transaction can proceed. Cloud card also has a virtual account division function, such as divide the account into account A, account B, and account C. account A is responsible for incidentals or...
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...Research and Critical Analysis into Audio Transcription processes By: Kiehne, Alexander Table of Contents Abstract……………………………………………………………………………….3 Topic Statement………………………………………………………………………3 Work Setting………………………………………………………………………….4 Situation Analysis…………………………………………………………………….5 Problem Analysis……………………………………………………………………..7 Plan of Action………………………………………………………………………...8 Background Research 1 – Similar software…………………………………………..8 Background Research 2 – Market for software……………………………………….9 Analysis……………………………………………………………………………….11 Critical Logs…………………………………………………………………………..12 Critical log 1………………………………..12 Critical log 2………………………………..12 Critical log 3……………………………….12 Critical log 4……………………………….13 References…………………………………………………………………………….14 Appendices……………………………………………………………………………15-16 Abstract In this document the possibility of a potential loop in the market is examined. In the field of linguistic services, the process of transcription is one of the major services requested, by the legal branch of State and Federal Government Agencies. The demand for such services is high as the court system heavily relies on written documents for official use. In time most documents transcribed could be performed by the use of sophisticated software that allows the user to accelerate the transcription process by feeding audio into a computer, allowing the software to transcribe the information. This...
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...Revenue Recognition: Converge between U.S. GAAP and IFRS While the basic revenue recognition model under US GAAP and IFRS share some similarities, if we make a comparison under two systems, we may find quite a few differences. In general, IFRS has much less industry-specific guidance than does US GAAP. First, one of the main differences lies in timing of revenue recognition with respect to contracts criteria such as long-term construction or contingency. According to US GAAP, revenue must be realized or realizable with certainty. The revenue recognition criteria may lead to deferrals in recognition. On the contrary, IFRS just defines the revenue recognition as “when it is possible that future economic benefits will flow into the enterprise and can be measured reliably”. Second, as for the long-term contracts revenue recognition, if reliable estimate cannot be made, GAAP allows completed contract method. It differs from that of the IFRS, which allows the cost recovery method. Third, US GAAP provides a much more detailed guidance about separation and allocation of multiple-deliverable arrangements in comparison to the guidance of IFRS. The US GAAP does not allow revenue recognition if a company fails to deliver remaining elements. Under IFRS, an entity can recognize its revenue if delivery is probable. The new ASU entitled “Revenue from Contracts with Customers” definitely leads to some important changes from current GAAP. There are core revenue recognition principle and five...
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...Experience (E). - My perspective on machine learning so far is that it’s the science of making computers able to conclude, suggest, and give answers to indirect questions and maybe even program themselves using initial structures, experience, and statistics. - Machine learning scientists need to have some source of inspiration or some kind of a source to make machines learn like, so they study and analyze human and animal learning processes through psychology and neuroscience. - I read some online articles besides the paper I’m summarizing, and I found that they all mentioned examples on the success of some machine learning based applications so I think I have to list a few. 1) Speech recognition: now these systems use machine learning. Because the speech recognition accuracy is greater if one trains the system, than if one attempts to program it by hand. 2) Robot control: in my opinion this is where machine learning really shines many machine learning strategies have been successfully applied to control robots. As an example they could control a stable helicopter flight. - It is true that machine learning is one great method for developing applications, but one cannot just use it to develop any...
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...Technical Report Topic Ideas any major: technology management issues in technical writing or communications multi-cultural/multinational issues competition for consumers professional problem professional code of ethics implementing an ombudsman program product liability on site security--data, people or materials workplace violence outsourcing new overtime regulations accounting: inventory systems pension/ stock option problems corporate contributions to political parties executive compensation prevention of accounting fraud risk analysis agriculture: land use management genetically altered plants control of crown gall in ornamental plants methods of crop estimation/pricing/futures bioterrorism in crops architecture: options in environmental or natural disaster proof structures (floods, fires, earthquakes, etc.) landscape designs for different environments (drought, boggy, etc.) solar heating or cooling designs lighting systems for large structures restoration methods for old and/or historic buildings aviation: wind shear problems and solutions pilot retirement or retention issues training and safety procedures global positioning systems runway incursion solutions aircraft fatigue competing materials for aircraft structures screening/security issues options in aircraft for corporate use small airport management biology/pre-med liability insurance/malpractice reform options in diagnosis or treatment ...
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...METROPOLITAN CASE STUDY Part I: Codifications and quotations used in following scenarios 1) Service revenue should be recognized on a straight-line basis, unless evidence suggests that the revenue is earned or obligations are fulfilled in a different pattern, over the contractual term of the arrangement or the expected period during which those specified services will be performed, whichever is longer. (SAB Topic 13A3, Interpretive Response to ques.6) 2) Revenue should be deferred until the specifications have been achieved or the customer accepts the service. (SAB Topic 13A3b, Interpretive Response to ques.1) 3) Being realized or realizable. Revenue and gains generally are not recognized until realized or realizable...states that revenue and gains are realized when products (goods or services), merchandise, or other assets are exchanged for cash or claims to cash... (ASC 605-10-25-1-a) 4) Being earned… states that revenue is not recognized until earned…an entity’s revenue-earning activities involve delivering or producing goods, rendering services, or other activities that constitute its ongoing major or central operations, and revenues are considered to have been earned when the entity has substantially accomplished what it must do to be entitled to the benefits represented by the revenues. (ASC 605-10-25-1-b) 5) All waste becomes the property of, and owned by, Metropolitan when they service the customer and take physical ownership of the waste. Metropolitan...
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