...The matching principle is one of the cornerstones of the accrual basis of accounting. Under the matching principle, when you record revenue, you should also record at the same time any expenses directly related to the revenue. Thus, if there is a cause-and-effect relationship between revenue and the expenses, record them in the same accounting period. Matching principle is relevant to the time period assumption. Revenue Recognition is an accounting principle under generally accepted accounting principles (GAAP) that determines the specific conditions under which income becomes realized as revenue. Generally, revenue is recognized only when a specific critical event has occurred and the amount of revenue is measurable. If you remove either from the process, it would be easy for companies to manipulate their revenue and/or net income results. Revenues will not necessarily be recorded in the same period as expenses related to those revenues are. Therefore, net income could be overstated, or understated. Another effect is that it would be hard to compare the results between competing companies. A good example of this is the Enron scandal. The traders helped in building up the selling by publishing releases about trade deals that did not actually take place. However, there was one problem in all scenarios that were set-up: There was no actual money coming in from real revenues but only those that came from investors. The dividends that the stockholders were given came investors...
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...Vijay V. Vazirani College of Computing Georgia Institute of Technology Copyright c 2001 Approximation Algorithms Springer Berlin Heidelberg NewYork Barcelona Hong Kong London Milan Paris Singapore Tokyo To my parents Preface Although this may seem a paradox, all exact science is dominated by the idea of approximation. Bertrand Russell (1872–1970) Most natural optimization problems, including those arising in important application areas, are NP-hard. Therefore, under the widely believed conjecture that P = NP, their exact solution is prohibitively time consuming. Charting the landscape of approximability of these problems, via polynomial time algorithms, therefore becomes a compelling subject of scientific inquiry in computer science and mathematics. This book presents the theory of approximation algorithms as it stands today. It is reasonable to expect the picture to change with time. The book is divided into three parts. In Part I we cover a combinatorial algorithms for a number of important problems, using a wide variety of algorithm design techniques. The latter may give Part I a non-cohesive appearance. However, this is to be expected – nature is very rich, and we cannot expect a few tricks to help solve the diverse collection of NP-hard problems. Indeed, in this part, we have purposely refrained from tightly categorizing algorithmic techniques so as not to trivialize matters. Instead, we have attempted to capture, as accurately as possible, the individual character...
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...last-mile connectivity issues, through DropSewa we are solving this problem in the most seamless and user friendly manner. We save users time, so that time we save, is used by our customers for something that they love to do. Time to bid goodbye to autos, taxis which usually take a lot from your pocket. Time to order a DROP. Challenge Client want to be the leader in market for bikes as a mode of public transport. Our challenge is to create a real time solution for all last-mile connectivity issues with the best user experience possible. Solution * Rider download Drop app from Playstore and sign in as user. Similarly, bike owners can login as drivers * Rider needs to setup a pickup location and request for a ride. Our matching algorithm matched the ride to a biker who arrives for pickup in minutes * Upon completing the ride, rider can pay cash or use Drop wallet to pay for ride Figure 1. Application work flow We acknowledge that in today’s times, to give a great service, we need to address issues of temporary network outage, customer safety and ease of use of the product. We have tackled each and every issue through our cloud based infrastructure with a scalable architecture. Features * Scalable Architecture: We have deployed state of the art...
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...P. 72840, M´ xico e 1 ⋆ Author to whom correspondence should be addressed; E-Mail: migue@bioplantas.cu; Tel.: +53-33-224-016. Received: 25 January 2012; in revised form: 28 February 2012 / Accepted: 28 February 2012 / Published: 8 March 2012 Abstract: Improving fingerprint matching algorithms is an active and important research area in fingerprint recognition. Algorithms based on minutia triplets, an important matcher family, present some drawbacks that impact their accuracy, such as dependency to the order of minutiae in the feature, insensitivity to the reflection of minutiae triplets, and insensitivity to the directions of the minutiae relative to the sides of the triangle. To alleviate these drawbacks, we introduce in this paper a novel fingerprint matching algorithm, named M3gl. This algorithm contains three components: a new feature representation containing clockwise-arranged minutiae without a central minutia, a new similarity measure that shifts the triplets to find the best minutiae correspondence, and a global matching procedure that selects the alignment by maximizing the amount of global matching minutiae. To make M3gl faster, it includes some optimizations to discard non-matching minutia triplets without comparing the whole representation. In comparison with six verification algorithms,...
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...Neural Networks for Matching in Computer Vision Giansalvo Cirrincione1 and Maurizio Cirrincione2 Department of Electrical Engineering, Lab. CREA University of Picardie-Jules Verne 33, rue Saint Leu, 80039 Amiens - France exin@u-picardie.fr Universite de Technologie de Belfort-Montbeliard (UTBM) Rue Thierry MIEG, Belfort Cedex 90010, France maurizio.cirricione@utbm.fr 1 2 Abstract. A very important problem in computer vision is the matching of features extracted from pairs of images. At this proposal, a new neural network, the Double Asynchronous Competitor (DAC) is presented. It exploits the self-organization for solving the matching as a pattern recognition problem. As a consequence, a set of attributes is required for each image feature. The network is able to find the variety of the input space. DAC exploits two intercoupled neural networks and outputs the matches together with the occlusion maps of the pair of frames taken in consideration. DAC can also solve other matching problems. 1 Introduction In computer vision, structure from motion (SFM) algorithms recover the motion and scene parameters by using a sequence of images (very often only a pair of images is needed). Several SFM techniques require the extraction of features (corners, lines and so on) from each frame. Then, it is necessary to find certain types of correspondences between images, i.e. to identify the image elements in different frames that correspond to the same element in the scene. This paper...
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...|School of Electronic Engineering and Computer Science | |ELE569 Microwave Electronics | |CAD Techniques for RF Electromagnetic – The Network Analyser | | | | | | | | | | | | | | | | ...
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...Explaining Basic Accounting Concepts and Business Structures ACC/537 Dec, 5, 2011 Explaining Basic Accounting Concepts and Business Structures The purpose of the paper is to explain basic accounting concepts and business structures. This paper covers four topics, which include the following: 1. Identify and describe the sources of generally accepted accounting principles (GAAP). 2. Describe effective accounting information using the qualities of accounting information. 3. Describe how an accrual-based accounting system is different from a cash-based of accounting 4. Describe the types of business structures and the defining features of each structure. The Sources of Generally Accepted Accounting Principles There are four categories in the house of GAAP, Category A through D. They are also in the order of the hierarchy. There are three major sources of GAAP in Category A. They are Financial Accounting Standards Board (FASB) Standards, Interpretations, and Staff Positions; Accounting Principles (APB) Opinions; and American Institute of Certified Public Accountants (AICPA) Accounting Research Bulletins. They are most authoritative pronouncements. Category B includes FASB Technical Bulletins which is no longer issued, AICPA Industry Audit and Accounting Guides and AICPA Statements of Position. Category C has FASB Emerging Issues Task Force and AICPA AcSEC Practice Bulletins. Category D has the least authoritative pronouncements: AICPA Accounting interpretations...
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...The revenue recognition principle is a cornerstone of accrual accounting together with matching principle. They both determine the accounting period, in which revenues and expenses are recognized. According to the principle, revenues are recognized when they are realised or realisable, and are earned (usually when goods are transferred or services rendered), no matter when cash is received. In cash accounting – in contrast – revenues are recognized when cash is received no matter when goods or services are sold. Cash can be received in an earlier or later period than obligations are met (when goods or services are delivered) and related revenues are recognized that results in the following two types of accounts: * Accrued revenue: Revenue is recognized before cash is received. * Deferred revenue: Revenue is recognized after cash is received The revenue recognition principle is a cornerstone of accrual accounting together with matching principle. They both determine the accounting period, in which revenues and expenses are recognized. According to the principle, revenues are recognized when they are realised or realisable, and are earned (usually when goods are transferred or services rendered), no matter when cash is received. In cash accounting – in contrast – revenues are recognized when cash is received no matter when goods or services are sold. Cash can be received in an earlier or later period than obligations are met (when goods or services are delivered) and...
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...Working With Financial Statements ACC 300 April 06, 2015 Working With Financial Statements Introduction – Revenue Recognition Principle - Explain revenue recognition principle Expense Recognition Principle - It is to be expected that in accounting there are principles to follow, just as they are in other various fields regarding finances. An example of this is banking where allocations and limitations are set. According to the principle of expense recognition revenue reflects in earning periods. Our expression as consumers is to enter into an agreement that has something to offer both parties. As the seller I am choosing the price, and the buyer agrees to listed price. The transaction has informed an agreement that is recognized through assurance. (Boundless Accounting) To recognize expenses, revenue is regarded and allies to the balance sheet. For example as the owner of a good I have fixed costs, and production cost that are in place whether I sell the goods or not. In lieu of the expenses recognition, we must meet the matching principle to move up own our balance sheet. An income statement shows these transactions due to the fact we are forced to record revenue and expenses, specifically those relating in cash. Costs are to broad to list all of them in an essay forum. However the two main categories are product costs and period costs. What are these? Period costs are things such as payroll, admin related expenses, and benefits solutions. In most cases...
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...In the field of accounting, there has few general rules and guideline and defined as accounting principles. A number of basic accounting principles have been developed through common usage. And revenue recognition principle is one of the accounting principle and it is an important cornerstone of accrual accounting along with the matching principle. For the revenue recognition principle, the accounting guidelines demand that revenues is to be recorded on the company financial statement when the product delivery or service completion, without regard to the timing of cash flow. So, the company no need to wait until cash is received before they recognize revenue. For instance, a company made a sale for RM 10,000 within an accounting period but has not received payment. The sale is verified as revenue though the company was not paid. Revenue recognition principle also stated the revenue is to be recognized when the rewards and benefits associated with the goods sold or service provided is transferred, where the amount can be estimated dependability. For instance, no revenue is recognized when the talk time scratch card is sold by a telecommunication company but it is recognized when the buyer makes a call and consumes the talk time. Besides, the revenue recognition principle gives a guidelines to manager and auditors for the way to recognize the revenue. When the transaction is in its early stage, the outcome of transaction cannot be measured reliably because the transaction...
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...Accounting Theory Case Study 10.2 Accounting for frequent flyer points: fact or fiction ? Maylinda Irmayanti (023111146) Windy Ayu Wulandari (023111239) Case Study 10.2 Accounting for frequent flyer points: fact or fiction? Accounting requirements under IFRS have changed the way airlines account for frequent flyer points. In the past, the cost/provision approach accounting practices were used. Under this method, the upfront sale of points to bank, credit card companies, mortgage brokers, and general retailers was recorded as revenue in the income statement at the time of sale. The expense related to the sale, that is the cost of travel, was recorded at a later period, when the airline provided the travel service, or gave up the ‘free’ seat. The Australian Financial Review (AFR) reported in December 2004 that the sale of points to third parties, rather than giving them away to loyal customers, made the schemes profitable for Qantas and major network carriers in the United States and Europe. The newspaper claimed that when Qantas sought additional debt or equity capital, it would have to treat its frequent flyer point liability on the same basis as other global firm, in the name of equality and transparency. Qantas responded immediately to the AFR article. The company stated that it establishes a liability and takes a charge to the profit and loss account for the cost of providing a ‘free’ seat at the time the frequent flyer revenue...
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...upon it to be materially accurate and if it faithfully represents the information that it purports to present. Significant misstatements or omissions in financial statements reduce the reliability of information contained in them. Matching Concept: Matching Principle requires that expenses incurred by an organization must be charged to the income statement in the accounting period in which the revenue, to which those expenses relate, is earned. Prior to the application of the matching principle, expenses were charged to the income statement in the accounting period in which they were paid irrespective of whether they relate to the revenue earned during that period. This resulted in non recognition of expenses incurred but not paid for during an accounting period (i.e. accrued expenses) and the charge to income statement of expenses paid in respect of future periods (i.e. prepaid expenses). Application of matching principle results in the deferral of prepaid expenses in order to match them with the revenue earned in future periods. Similarly, accrued expenses are charged in the income statement in which they are incurred to match them with the current period's revenue. Timeliness of Accounting Information Concept: Timeliness principle in accounting refers to the need for accounting information to be presented to the users in time to fulfill...
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...already done. If you forget to add it to your financial statements or remember what the incoming cash is for you may get turned around. The main difference between the two to me is the fact that one is recorded with out the cash being paid and the other is not recorded until the cash is actually in hand. I would also like to know in my reports that I am awaiting that cash so that I can account for it in future months. Another reason is that when looking at the numbers laid out the numbers for the cash basis accounting can look misleading for the company. The reason that cash basis is prohibited under generally accepted accounting principles, is that it doesn’t record revenue when it is earned, that violates the revenue recognition principle. Similarly it doesn’t record the expenses when they are incurred which in turn would violate the matching principle. In the end when comparing the differences of the two accounting types it’s easy to see why accrual basis accounting is the chosen method amongst the two and the reasons are stacked in its favor. Cash basis accounting might be ok amongst smaller companies but having money come in that was actually earned a year before and not recorded can really mess up your books. If I ever own a company I will choose to do the accrual basis method as it provides much more structure and that is key when running a company today. Getting accurate...
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...used for 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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...Explaining Basic Accounting Concepts and Business Structures Matthew Philip Moshi ACC/537 September 17, 2012 Joseph P McDonald Basic Accounting Concepts and Business Structures The catastrophic collapse of the stock market in 1929, subsequently resulting in the great depression will forever coincide with the private sector’s formulation and subsequent issue of formal accounting standards (Keiso, Warfield, & Weygandt, p. 6, 2007). Appeals for heightened governmental regulation over financial institutions as well as the stock market, culminated in the formation of the Securities and Exchanges Commission (SEC). With its primary objective to standardize formally the presentation and preparation of accounting information in financial statements to meet the needs of stockholders, the SEC sought the establishment of an official private sector body to set as well as issue accounting standards (Keiso, Warfield, & Weygandt, p. 6, 2007). The ensuing creation and issue of private sector accounting standards corresponds with the establishment of two major accountancy bodies. The first body relates to Financial Accounting Standards Board (FASB). The second body relates to the American Institute of Certified Public Accountants (AICPA). In this respect, the SEC plays an oversight role pertaining to the development and improvement of accounting standards in the private sector. The following statement demonstrates this point: “……………..“it continues to believe that the initiative...
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