The Dynamic Systems Development Method (DSDM) is a five-step process for computer system development, including feasibility, business, functional model iteration, design, and implementation. The method uses incremental prototyping and user feedback to adjust the system output until it meets the required needs. The dynamic systems development method, or DSDM, is a process that computer system […]
The annuity factor method can be used to calculate how much can be withdrawn from a retirement account without incurring penalties. The balance is divided by the present value of an annuity, and any amount less than the calculated figure can be withdrawn annually. However, it is important to consider the reasons for the withdrawal […]
The IFRS equity method is used for companies that own 20-50% of another company through equity investment. The reporting company must claim a percentage of the other company’s net income equal to the portion of the equity it owns. Differences exist between IFRS and GAAP standards. The IFRS equity method is an accounting style used […]
The completed contract method records income and expenses of a project only when it’s complete, mainly used for long-term contracts. It affects tax payments and is an exception to accounting standards. The percent complete method is more common, and tax requirements may affect which method can be used. The completed contract method is an accounting […]
Unschooling is a form of homeschooling where children learn through their natural interests and goals. Parents act as mentors and advisors, but the child has freedom to choose what to learn. Real-world experience is prioritized over curriculum. Unschooling was coined by John Holt, who believed in school reform. Homeschoolers are viewed positively by colleges. Drop-out […]
The Socratic Method is a teaching approach that aims to deepen understanding by questioning everything. It was named after philosopher Socrates, who engaged in conversations to define broad ideas. The method eliminates notions of complete understanding to stimulate growth in knowledge. The questioner assumes a subordinate role, leading the respondent to think critically. The purpose […]
Retiring on a budget requires reducing living expenses, considering relocation to a cheaper area, and embracing a less expensive lifestyle. Living within a fixed budget and seeking advice from a financial planner can help retirees avoid re-entering the job market. Retirement can be a costly transition, especially if it occurs sooner than expected or without […]
The Palmer Method, a writing system popular in early 20th century America, emphasized arm movements over finger movements for increased speed and efficiency. It was introduced in a 1894 book by Austin Palmer and became widely used in education systems. The method relied on repetitive practice exercises and specific letter designs. While it has been […]
Thomas Edison, inventor of the light bulb and phonograph, was married twice. He used Morse code to propose to his second wife, Mina Miller, whom he married in 1886. Edison had six children and overcame poor hearing to invent sound and image recording devices. Famed American inventor Thomas Edison, known for such inventions as the […]
Budgeting is crucial in personal finance. Start by listing expenses and separating fixed from flexible expenses. Subtract expenses from net income to determine if you need to cut back on flexible expenses or earn additional income. Build an emergency savings fund before investing. Establish a spending allowance to make saving easier. In personal finance, budgeting […]
The interest method calculates interest income or expense by multiplying the book value of debt or accounts receivable by the effective interest rate. It allows for a fixed interest rate to be charged but different dollar amounts to be charged each period. The method is used by investors to analyze bond discounts or premiums and […]
The precedence diagram method is a visual approach to project planning and scheduling that uses nodes to represent activities and their relationships. It can be done manually or with software and helps create a clear schedule. Nodes can be isolated or run concurrently, and those with high priority require other tasks to complete. The method […]
The expenditure approach calculates GDP by summing expenditures on goods and services, including consumption, investment, government spending, and exports. However, it has flaws, such as not counting goods and services produced for personal use. Analysts use different methods to study changes in GDP over time and learn more about economic conditions. The spending approach can […]
Teaching methodology is how a teacher explains or teaches material to students. It can include lectures, group discussions, and involving students as teachers. It’s not the same as educational philosophy, but they may be related. Traditional lecture methods are less popular, while student-centered methods are increasingly popular. A teaching methodology is essentially how a teacher […]
The direct method of presenting statements of cash flows shows how cash was received and used in a business, and is important to investors and bankers. It is classified into three sections: operating, investing, and financing activities, with differences between the direct and indirect methods affecting only the operating activities section. The direct method shows […]
The effective interest method is used to account for bonds sold at a discount, with the difference between the sales price and face value representing an additional cost of borrowing that must be spread out over the life of the bond. This method calculates the interest payment that would be due on the bond if […]
The retail inventory method groups similar products to estimate an average percentage of the retail cost price, making it a useful tool for businesses with a variety of products. It eliminates the need for physical counts and provides a quick way to create an inventory value report. The retail inventory method is a technique that […]
The adjusted balance method calculates interest on financial accounts based on the previous closing balance, without taking into account new expenses during the billing cycle. It can result in lower charges and is the basis for interest-free periods on credit cards. Variations include the previous balance and two-cycle balance methods, while the average daily balance […]
The index method adjusts the rate of return on projects using the terminal value formula, allowing for quick evaluation of multiple projects. However, it does not account for inflation or longer project durations. The rentability index is an alternative formula that combines the index method and net present value method. The index method is an […]
The index method adjusts the rate of return on projects using the terminal value, allowing for quick evaluation of multiple projects. However, it has flaws such as not accounting for inflation and longer project durations. The rentability index is an alternative formula that combines the index method and net present value method. The index method […]
