basis+of+accounts

the value of an investment calculated as the sum of its initial cost and the present value of expected future cash flows.

Abbr. NPV

A positive NPV indicates that the project should be profitable, assuming that the estimated cash flows are reasonably accurate. A negative NPV indicates that the project will probably be unprofitable and therefore should be adjusted, if not abandoned altogether.

     NPV enables a management to consider the time-value of money it will invest. This concept holds that the value of money increases with time because it can always earn interest in a savings account. When the time-value-of-money concept is incorporated in calculation of NPV, the value of a project’s future net cash receipts in “today’s money” can be determined. This enables proper comparisons between different projects.

     For example, if Global Manufacturing Inc. is considering the acquisition of a new machine, its management will consider all the factors: initial purchase and installation costs; additional revenues generated by sales of the new machine’s products, plus the taxes on these new revenues. Having accounted for these factors in its calculations, the cash flows that Global Manufacturing projects will generate from the new machine are:

At first glance, it appears that cash-flows total 45% more than the $100,000 initial cost, a sound investment indeed. But time-value of NPV calculation money shrinks return on the project considerably, since future dollars are worth less than present dollars in hand. NPV accounts for these differences with the help of presentvalue tables, which list the ratios that express the present value of expected cash-flow dollars, based on the applicable interest rate and the number of years in question.

     In the example, Global Manufacturing’s cost of capital is 9%. Using this figure to find the corresponding ratios on the present value table, the $100,000 investment cost, expected annual revenues during the five years in question, the NPV calculation is shown below.

     NPV is still positive. So, on this basis at least, the investment should proceed.

SUBJECT AREA: Broadcasting, Electronics and information technology, Recording, Telecommunications

[br]

[br]

[br]

From an early age he was absorbed by phenomena of physics to the exclusion of all other subjects, including mathematics. When choosing his subjects for the final three years in Borgedydskolen in Christianshavn (Copenhagen) before university, he opted for languages and history. At the University of Copenhagen he embarked on the study of medicine in 1889, but broke it off and was apprenticed to the machine firm of A/S Frichs Eftf. in Aarhus. He was employed between 1893 and 1899 as a mechanic and assistant in the laboratory of the Copenhagen Telephone Company KTAS. Eventually he advanced to be Head of the line fault department. This suited his desire for experiment and measurement perfectly. After the invention of the telegraphone in 1898, he left the laboratory and with responsible business people he created Aktieselskabet Telegrafonen, Patent Poulsen in order to develop it further, together with Peder Oluf Pedersen (1874– 1941). Pedersen brought with him the mathematical background which eventually led to his professorship in electronic engineering in 1922.

The telegraphone was the basis for multinational industrial endeavours after it was demonstrated at the 1900 World's Exhibition in Paris. It must be said that its strength was also its weakness, because the telegraphone was unique in bringing sound recording and reproduction to the telephone field, but the lack of electronic amplifiers delayed its use outside this and the dictation fields (where headphones could be used) until the 1920s. However, commercial interest was great enough to provoke a number of court cases concerning patent infringement, in which Poulsen frequently figured as a witness.

In 1903–4 Poulsen and Pedersen developed the arc generator for continuous radio waves which was used worldwide for radio transmitters in competition with Marconi's spark-generating system. The inspiration for this work came from the research by William Duddell on the musical arc. Whereas Duddell had proposed the use of the oscillations generated in his electric arc for telegraphy in his 1901 UK patent, Poulsen contributed a chamber of hydrogen and a transverse magnetic field which increased the efficiency remarkably. He filed patent applications on these constructions from 1902 and the first publication in a scientific forum took place at the International Electrical Congress in St Louis, Missouri, in 1904.

In order to use continuous waves efficiently (the high frequency constituted a carrier), Poulsen developed both a modulator for telegraphy and a detector for the carrier wave. The modulator was such that even the more primitive spark-communication receivers could be used. Later Poulsen and Pedersen developed frequency-shift keying.

The Amalgamated Radio-Telegraph Company Ltd was launched in London in 1906, combining the developments of Poulsen and those of De Forest Wireless Telegraph Syndicate. Poulsen contributed his English and American patents. When this company was liquidated in 1908, its assets were taken over by Det Kontinentale Syndikat for Poulsen Radio Telegrafi, A/S in Copenhagen (liquidated 1930–1). Some of the patents had been sold to C.Lorenz AG in Berlin, which was very active.

The arc transmitting system was in use worldwide from about 1910 to 1925, and the power increased from 12 kW to 1,000 kW. In 1921 an exceptional transmitter rated at 1,800 kW was erected on Java for communications with the Netherlands. More than one thousand installations had been in use worldwide. The competing systems were initially spark transmitters (Marconi) and later rotary converters ( Westinghouse). Similar power was available from valve transmitters only much later.

From c. 1912 Poulsen did not contribute actively to further development. He led a life as a well-respected engineer and scientist and served on several committees. He had his private laboratory and made experiments in the composition of matter and certain resonance phenomena; however, nothing was published. It has recently been suggested that Poulsen could not have been unaware of Oberlin Smith's work and publication in 1888, but his extreme honesty in technical matters indicates that his development was indeed independent. In the case of the arc generator, Poulsen was always extremely frank about the inspiration he gained from earlier developers' work.

[br]

[buk]

agenda book памятная книга book принимать заказы на билеты; all the seats are booked (up) все места проданы annual accounts book ежегодная бухгалтерская книга arrivals book транс. книга записи поступающих товаров to be in (smb.'s) good (bad, black) books быть (у кого-л.) на хорошем (плохом) счету; one for the book достойный серьезного внимания, значительный; to bring to book призвать к ответу to speak by the book говорить (о чем-л.) на основании точной информации; to be on the books значиться в списке beige book сборник отчетов коммерческого предприятия bill book книга векселей bills payable book книга векселей к уплате bills receivable book книга векселей к получению book ангажировать (актера) book (the B.) библия book транс. бронировать book букмекерская книга записи ставок пари (на скачках); запись заключаемых пари book бухгалтерская книга book досье судебных документов book заказывать, брать билет (железнодорожный и т. п.) book заказывать book заносить в книгу, (за)регистрировать book заносить в книгу book зарегистрировать book заручиться согласием; приглашать; ангажировать (актера, оратора); I shall book you for Friday evening жду вас в пятницу вечером; I'm booked я попался book книга, литературное произведение book книга book книжечка (билетов на автобус и т. п.); a book of matches книжечка картонных спичек book конторская книга book либретто; текст (оперы и т. п.); сценарий book принимать заказы на билеты; all the seats are booked (up) все места проданы book размещать заказы book регистрировать book сборник отчетов (коммерческого предприятия, научного общества и т. п.; тж. books) book счетная книга book том, книга, часть book фрахтовать (судно) book карт. (первые) шесть взяток одной из сторон (в висте) Book: Book: White book Белая книга (сборник официальных документов) book: book: yellow book Желтая книга (сборник официальных документов французского правительства) visitor: book посетитель, гость; the visitors, book книга посетителей book a seat резервировать место book an item делать проводку в бухгалтерской книге book attr. книжный; book learning книжные (или теоретические) знания book in conformity вести единообразный бухгалтерский учет book attr. книжный; book learning книжные (или теоретические) знания book of account журнал бухгалтерского учета book книжечка (билетов на автобус и т. п.); a book of matches книжечка картонных спичек book of original entry главная бухгалтерская книга book of record книга учета book of stamps альбом марок book of stamps книжечка почтовых марок book on an accrual basis отчитываться по мере накопления счетов book value of mortgaged assets остаточная стоимость заложенного имущества book value per share нетто-капитал на одну акцию bought day book бухгалтерская книга регистрации покупок bought invoice book книга учета счетов на покупку to be in (smb.'s) good (bad, black) books быть (у кого-л.) на хорошем (плохом) счету; one for the book достойный серьезного внимания, значительный; to bring to book призвать к ответу cargo book суд. грузовая книга cash book журнал кассовых операций cash book кассовая книга cause book журнал судебных дел cause book регистр дел cheque book чековая книжка close a book закрывать бухгалтерскую книгу в конце отчетного периода closed book закрытая бухгалтерская книга corporate record book протокол компании counterfoil book книжка талонов deposit book депозитная книжка deposit book сберегательная книжка desk book настольная книга; справочник discharge book расчетная книжка forwarding book список отправленных товаров book заручиться согласием; приглашать; ангажировать (актера, оратора); I shall book you for Friday evening жду вас в пятницу вечером; I'm booked я попался book заручиться согласием; приглашать; ангажировать (актера, оратора); I shall book you for Friday evening жду вас в пятницу вечером; I'm booked я попался judgment book книга записи судебных решений to know a thing like a book = знать (что-л.) как свои пять пальцев; without book по памяти law book кодекс law book свод законов loan book книга займов long book большая бухгалтерская книга matched book уравновешенный портфель операций банка message book воен. полевая книжка minute book книга протоколов to be in (smb.'s) good (bad, black) books быть (у кого-л.) на хорошем (плохом) счету; one for the book достойный серьезного внимания, значительный; to bring to book призвать к ответу open book несовпадение активов и пассивов банка по срокам order book книга заказов order book книга приказов и распоряжений paying-in book книга учета платежей postage account book книга учета почтовых сборов postal receipt book книга почтовых квитанций purchase day book книга суточного учета покупок quick-reference book краткий справочник ration book продовольственная или промтоварная книжка, заборная книжка (на нормированные товары) to read (smb.) like a book прекрасно понимать (кого-л.), видеть насквозь receipt book квитанционная книжка reference book книга, выдаваемая для чтения только в помещении библиотеки reference book справочная книга reference book справочник reference: book attr. справочный; reference book справочник; reference library справочная библиотека (без выдачи книг на дом); reference point ориентир register book книга записей register book регистрационный журнал registration book регистрационный журнал run book вчт. документация по задаче sales book журнал учета продаж savings book сберегательная книжка savings stamp book книжечка сберегательных марок sell the book продавать максимально возможное количество акций большой партии по текущей цене settlement book расчетная книга short book книга упрощенного учета signature book список подписей (должностных лиц) to speak by the book говорить (о чем-л.) на основании точной информации; to be on the books значиться в списке statute book действующее законодательство stock book книга регистрации владельцев акций stock book книга фондовых ценностей to suit (smb.'s) book совпадать с (чьими-л.) планами, отвечать (чьим-л.) интересам tax book книга учета налогов tender book книга учета предложений transfer book трансфертная книга unmatched book несовпадение активов и пассивов банка по срокам warehouse book складская книга to know a thing like a book = знать (что-л.) как свои пять пальцев; without book по памяти book: yellow book Желтая книга (сборник официальных документов французского правительства)