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A schedule is defined as an execution sequence of transactions. A schedule maintains the order of the operation in each individual transaction. A schedule is the arrangement of transaction operations. A schedule may contain a set of transactions. We already know that a transaction is a set of operations. To run transactions concurrently, we arrange or schedule their operations in an interleaved fashion.Schedules are divided into 2 categories, which are as follows −Serial ScheduleNon-serial ScheduleThe categories of schedules are given below in a form of chart −Serial scheduleTransactions present in this schedule are executed serially, after the instruction of Ti ... Read More
Redundant Array of Independent Disk (RAID) combines multiple small, inexpensive disk drives into an array of disk drives which yields performance more than that of a Single Large Expensive Drive (SLED). RAID is also called Redundant Array of Inexpensive Disks.Storing the same data in different disk increases the fault-tolerance.The array of Mean Time Between Failure (MTBF) = MTBF of an individual drive, which is divided by the number of drives in the array. Because of this reason, the MTBF of an array of drives are too low for many application requirements.Types of RAIDThe various types of RAID are explained below ... Read More
Magnetic disk is the secondary storage device used to support direct access to a desired location.Parts in Magnetic diskThe different parts that are present in magnetic disk or hard disk are explained below. All these parts are helpful to read, write and store the data in the hard disk.Disk blocks − The unit data transfer between disk and main memory is a block. A disk block is a contiguous sequence of bytes.Track − Blocks are arranged in concentric rings called tracks.Sectors − A sector is the smallest unit of information that can be read from or written to disk: for ... Read More
Shadow paging is one of the techniques that is used to recover from failure. We all know that recovery means to get back the information, which is lost. It helps to maintain database consistency in case of failure.Concept of shadow pagingNow let see the concept of shadow paging step by step −Step 1 − Page is a segment of memory. Page table is an index of pages. Each table entry points to a page on the disk.Step 2 − Two page tables are used during the life of a transaction: the current page table and the shadow page table. Shadow ... Read More
First, let us understand about the capital payments.Capital PaymentsCapital payments are payments of capital expenditures of a company, which are made into cash.In other words, capital payments are non-recurring payments which are paid in cash and are part of the capital expenditures. These payments are made in installments or at once.Capital payments include the following −Payment which is made to purchase an asset/assets.Share capital and debentures redemption.Repayment of proprietors in long drawing.Goodwill payments etc.ExampleSuppose a company purchases a product from a vendor. Moreover, the vendor sent a team of professionals at the time of installation and invoiced the company with ... Read More
Let us understand what a sole trader and a partnership are, before learning about their differences.Sole traderAn individual who owns and runs the total business is known as sole trader. In simple words, a sole trader has to look after his/her own resources to run their business.He/she has to apply for a license before starting their business. Chance of liability is unlimited, so he/she should have a cautious approach.Motivation, secrecy, freedom of trade selection etc. are the characteristics of sole proprietorship. Main objectives are creating own opportunities, helping large business, productive use of funds etc.PartnershipIt is a legal relationship between ... Read More
Let us understand what a lease agreement and a rent agreement are, before learning about their differences.Lease agreementAccording to section 105 of transfer of property Act, 1882 “lease is defined as transfer of a right to enjoy a property, made for a certain time, express or implied or in perpetuity, in consideration of a price paid or promised, or of money, a share of crops/service or any other thing of value, to be rendered periodically or on specific occasions, to the transferor by the transferee, who accepts the transfer on such terms”.The conditions for rent agreement as a lease are ... Read More
Let us consider two examples for the percentage of completion method.Example 1Calculate by using percentage of completion method, if estimated cost of project is $700000 and costs to date are $85000, total revenue estimated = $2000000).SolutionThe solution is as follows −Step 1Percentage of completion = costs to date / estimated cost of project = 85000/700000 ⇒ 12.14 % (rounded to two digits)Step 2Revenue recognition = percentage of completion * total revenue estimated = 12.14% * 2000000 ⇒ $ 242800Step 3Income recognition = recognized revenue – costs to date = 242800 – 85000 ⇒ $157800Example 2A construction is building a maintenance facility and the ... Read More
Let us estimate the total income of the project by using percentage of completion method, if revenue estimated is $300000, estimated costs is $60000 and costs to date is $7000.SolutionThe solution is as follows −Step 1 -Percentage of completion = costs to date / estimated cost of project = 7000/60000 = 11.67 % (rounded to two digits)Step 2 -Total income (estimated) = revenue estimated – estimated costs = $300000 – 60000 = $240000Step 3 -Income recognition = percentage of completion * total income (estimated) = 11.67% * $240000 = $28008Percentage of completion method accountingLet’s say, the business has a project, ... Read More
In this method, all the revenues are recognized based on the percentage of work completed over a period of time through a cost to cost method.Journal entriesThe journal entries for the percentage of completion method are as follows −ParticularsDebitCreditIncurring costsConstruction in progressCash or accounts payableBillingAccounts receivableConstruction in progress (Bill)Receiving paymentsCashAccounts receivablePeriod end adjustments for revenueConstruction expenseConstruction in progressConstruction revenueCompleting the projectConstruction in progress (Bill)Construction in progressExampleConsider the following table for understanding how to write journal entries. Here, all numbers are used for understanding purposes only.Particulars2001 ($ IN MILLION)2002 ($ IN MILLION)2003 ($ IN MILLION)Cumulative cost incurred ($)4915Total cost (estimated) $151515Billings3105Collected2115SolutionThe ... Read More