This article questions the reliability of the amount of revenue recognized in the percentage of completion （POC） method of revenue recognition in construction industry and recommends a new method based on the progre...This article questions the reliability of the amount of revenue recognized in the percentage of completion （POC） method of revenue recognition in construction industry and recommends a new method based on the progress billing which is more reliable. The most commonly used method of revenue recognition in the construction industry is the percentage of completion method （POC）, where the revenue is recognized on the basis of the percentage of work completed. The calculation of percentage of work completed is made on the basis of the cost incurred for the contract work during the financial period and the cost required for completion of the work as estimated by the contractor. Here, the acceptance of the product by the buyer （contractee） is not involved in recognizing the revenue. The reliability of the amount of revenue and its collectability can be assured only when the buyer accepts the product. The approval of the progress bill by the contractee is needed to assure the reliability and collectability and it must be the event that triggers the recognition of revenue.展开更多
The push for renewable energy emphasizes the need for energy storage systems(ESSs)to mitigate the unpre-dictability and variability of these sources,yet challenges such as high investment costs,sporadic utilization,an...The push for renewable energy emphasizes the need for energy storage systems(ESSs)to mitigate the unpre-dictability and variability of these sources,yet challenges such as high investment costs,sporadic utilization,and demand mismatch hinder their broader adoption.In response,shared energy storage systems(SESSs)offer a more cohesive and efficient use of ESS,providing more accessible and cost-effective energy storage solutions to overcome these obstacles.To enhance the profitability of SESSs,this paper designs a multi-time-scale resource allocation strategy based on long-term contracts and real-time rental business models.We initially construct a life cycle cost model for SESS and introduce a method to estimate the degradation costs of multiple battery groups by cycling numbers and depth of discharge within the SESS.Subsequently,we design various long-term contracts from both capacity and energy perspectives,establishing associated models and real-time rental models.Lastly,multi-time-scale resource allocation based on the decomposition of user demand is proposed.Numerical analysis validates that the business model based on long-term contracts excels over models operating solely in the real-time market in economic viability and user satisfaction,effectively reducing battery degradation,and leveraging the aggregation effect for SESS can generate an additional increase of 10.7%in net revenue.展开更多
The procedure of reliability-based fatigue analysis of liquefied natural gas(LNG) carrier of membrane type under wave loads is presented. The stress responses of the hotspots in regular waves with different wave headi...The procedure of reliability-based fatigue analysis of liquefied natural gas(LNG) carrier of membrane type under wave loads is presented. The stress responses of the hotspots in regular waves with different wave heading angles and wave lengths are evaluated by global ship finite element method(FEM) . Based on the probabilistic distribution function of hotspots' short-term stress-range using spectral-based analysis,Weibull distribution is adopted and discussed for fitting the long-term probabilistic distribution of stress-range. Based on linear cumulative damage theory,fatigue damage is characterized by an S-N relationship,and limit state function is established. Structural fatigue damage behavior of several typical hotspots of LNG middle ship section is clarified and reliability analysis is performed. It is believed that the presented results and conclusions can be of use in calibration for practical design and initial fatigue safety evaluation for membrane type LNG carrier.展开更多
China National Offshore Oil Corp.(CNOOC)declared on August 8, 2002 that Australia Liquefied Natural Gas Company (ALNG) affiliated to Woodside Petroleum Corporation has been accepted as the supplier of LNG (liquefied n...China National Offshore Oil Corp.(CNOOC)declared on August 8, 2002 that Australia Liquefied Natural Gas Company (ALNG) affiliated to Woodside Petroleum Corporation has been accepted as the supplier of LNG (liquefied natural gas) for its LNG distribution station in Guangdong Province.展开更多
文摘This article questions the reliability of the amount of revenue recognized in the percentage of completion （POC） method of revenue recognition in construction industry and recommends a new method based on the progress billing which is more reliable. The most commonly used method of revenue recognition in the construction industry is the percentage of completion method （POC）, where the revenue is recognized on the basis of the percentage of work completed. The calculation of percentage of work completed is made on the basis of the cost incurred for the contract work during the financial period and the cost required for completion of the work as estimated by the contractor. Here, the acceptance of the product by the buyer （contractee） is not involved in recognizing the revenue. The reliability of the amount of revenue and its collectability can be assured only when the buyer accepts the product. The approval of the progress bill by the contractee is needed to assure the reliability and collectability and it must be the event that triggers the recognition of revenue.
基金supported by National Natural Science Foundation of China(No.U2066601).
文摘The push for renewable energy emphasizes the need for energy storage systems(ESSs)to mitigate the unpre-dictability and variability of these sources,yet challenges such as high investment costs,sporadic utilization,and demand mismatch hinder their broader adoption.In response,shared energy storage systems(SESSs)offer a more cohesive and efficient use of ESS,providing more accessible and cost-effective energy storage solutions to overcome these obstacles.To enhance the profitability of SESSs,this paper designs a multi-time-scale resource allocation strategy based on long-term contracts and real-time rental business models.We initially construct a life cycle cost model for SESS and introduce a method to estimate the degradation costs of multiple battery groups by cycling numbers and depth of discharge within the SESS.Subsequently,we design various long-term contracts from both capacity and energy perspectives,establishing associated models and real-time rental models.Lastly,multi-time-scale resource allocation based on the decomposition of user demand is proposed.Numerical analysis validates that the business model based on long-term contracts excels over models operating solely in the real-time market in economic viability and user satisfaction,effectively reducing battery degradation,and leveraging the aggregation effect for SESS can generate an additional increase of 10.7%in net revenue.
文摘The procedure of reliability-based fatigue analysis of liquefied natural gas(LNG) carrier of membrane type under wave loads is presented. The stress responses of the hotspots in regular waves with different wave heading angles and wave lengths are evaluated by global ship finite element method(FEM) . Based on the probabilistic distribution function of hotspots' short-term stress-range using spectral-based analysis,Weibull distribution is adopted and discussed for fitting the long-term probabilistic distribution of stress-range. Based on linear cumulative damage theory,fatigue damage is characterized by an S-N relationship,and limit state function is established. Structural fatigue damage behavior of several typical hotspots of LNG middle ship section is clarified and reliability analysis is performed. It is believed that the presented results and conclusions can be of use in calibration for practical design and initial fatigue safety evaluation for membrane type LNG carrier.
文摘China National Offshore Oil Corp.(CNOOC)declared on August 8, 2002 that Australia Liquefied Natural Gas Company (ALNG) affiliated to Woodside Petroleum Corporation has been accepted as the supplier of LNG (liquefied natural gas) for its LNG distribution station in Guangdong Province.
