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Wiki Wiki Summary
Uncertainty Uncertainty refers to epistemic situations involving imperfect or unknown information. It applies to predictions of future events, to physical measurements that are already made, or to the unknown.
Knightian uncertainty In economics, Knightian uncertainty is a lack of any quantifiable knowledge about some possible occurrence, as opposed to the presence of quantifiable risk (e.g., that in statistical noise or a parameter's confidence interval). The concept acknowledges some fundamental degree of ignorance, a limit to knowledge, and an essential unpredictability of future events.
Risk management Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.\nRisks can come from various sources including uncertainty in international markets, threats from project failures (at any phase in design, development, production, or sustaining of life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters, deliberate attack from an adversary, or events of uncertain or unpredictable root-cause.
Measurement uncertainty In metrology, measurement uncertainty is the expression of the statistical dispersion of the values attributed to a measured quantity. All measurements are subject to uncertainty and a measurement result is complete only when it is accompanied by a statement of the associated uncertainty, such as the standard deviation.
The Second Annual Report The Second Annual Report is the debut album by English industrial music group Throbbing Gristle, released in November 1977 through Industrial Records. It is a combination of live and studio recordings made from October 1976 to September 1977.
Green annual report An annual report is a comprehensive report on a company's activities throughout the preceding year. Annual reports are intended to give shareholders and other interested people information about the company's activities and financial performance.
Financial statement Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity.\nRelevant financial information is presented in a structured manner and in a form which is easy to understand.
Balance sheet In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.
Financial audit A 'financial audit' is conducted to provide an opinion whether "financial statements" (the information is verified to the extent of reasonable assurance granted) are stated in accordance with specified criteria. Normally, the criteria are international accounting standards, although auditors may conduct audits of financial statements prepared using the cash basis or some other basis of accounting appropriate for the organisation.
Common stock Common stock is a form of corporate equity ownership, a type of security. The terms voting share and ordinary share are also used frequently outside of the United States.
Common stock dividend A common stock dividend is the dividend paid to common stock owners from the profits of the company. Like other dividends, the payout is in the form of either cash or stock.
New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed companies at US$30.1 trillion as of February 2018.
Convertible bond In finance, a convertible bond or convertible note or convertible debt (or a convertible debenture if it has a maturity of greater than 10 years) is a type of bond that the holder can convert into a specified number of shares of common stock in the issuing company or cash of equal value. It is a hybrid security with debt- and equity-like features.
Uncertainty budget The uncertainty budget is an aid for specifying the expanded measurement uncertainty. The individual measurement uncertainty factors are summarised, usually in tabular form, in the measurement uncertainty budget.
Arithmetic Arithmetic (from Ancient Greek ἀριθμός (arithmós) 'number', and τική [τέχνη] (tikḗ [tékhnē]) 'art, craft') is an elementary part of mathematics that consists of the study of the properties of the traditional operations on numbers—addition, subtraction, multiplication, division, exponentiation, and extraction of roots. In the 19th century, Italian mathematician Giuseppe Peano formalized arithmetic with his Peano axioms, which are highly important to the field of mathematical logic today.
Operations research Operations research (British English: operational research), often shortened to the initialism OR, is a discipline that deals with the development and application of advanced analytical methods to improve decision-making. It is sometimes considered to be a subfield of mathematical sciences.
Surgery Surgery is a medical or dental specialty that uses operative manual and instrumental techniques on a person to investigate or treat a pathological condition such as a disease or injury, to help improve bodily function, appearance, or to repair unwanted ruptured areas.\nThe act of performing surgery may be called a surgical procedure, operation, or simply "surgery".
Bitwise operation In computer programming, a bitwise operation operates on a bit string, a bit array or a binary numeral (considered as a bit string) at the level of its individual bits. It is a fast and simple action, basic to the higher-level arithmetic operations and directly supported by the processor.
Consolidated financial statement Consolidated financial statements are the "financial statements of a group in which the assets, liabilities, equity, income, expenses and cash flows of the parent company and its subsidiaries are presented as those of a single economic entity", according to International Accounting Standard 27 "Consolidated and separate financial statements", and International Financial Reporting Standard 10 "Consolidated financial statements".\n\n\n== Consolidated statement of financial position ==\nWhile preparing a consolidated financial statement, there are two basic procedures that need to be followed: first, cancel out all the items that are accounted as an asset in one company and a liability in another, and then add together all uncancelled items.
Statistical disclosure control Statistical disclosure control (SDC), also known as statistical disclosure limitation (SDL) or disclosure avoidance, is a technique used in data-driven research to ensure no person or organization is identifiable from the results of an analysis of survey or administrative data, or in the release of microdata. The purpose of SDC is to protect the confidentiality of the respondents and subjects of the research.SDC usually refers to 'output SDC'; ensuring that, for example, a published table or graph does not disclosure confidential information about respondents.
Vulnerability (computing) Vulnerabilities are flaws in a computer system that weaken the overall security of the device/system. Vulnerabilities can be weaknesses in either the hardware itself, or the software that runs on the hardware.
Global surveillance disclosures (2013–present) Ongoing news reports in the international media have revealed operational details about the Anglophone cryptographic agencies' global surveillance of both foreign and domestic nationals. The reports mostly emanate from a cache of top secret documents leaked by ex-NSA contractor Edward Snowden, which he obtained whilst working for Booz Allen Hamilton, one of the largest contractors for defense and intelligence in the United States.
Committee of Sponsoring Organizations of the Treadway Commission The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is a joint initiative to combat corporate fraud. It was established in the United States by five private sector organizations, dedicated to guiding executive management and government entities in relevant aspects of organizational governance, business ethics, internal control, business risk management, fraud and financial reports.
Audit An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon.” Auditing also attempts to ensure that the books of accounts are properly maintained by the concern as required by law. Auditors consider the propositions before them, obtain evidence, and evaluate the propositions in their auditing report.Audits provide third-party assurance to various stakeholders that the subject matter is free from material misstatement.
Management accounting In management accounting or managerial accounting, managers use accounting information in decision-making and to assist in the management and performance of their control functions.\n\n\n== Definition ==\n\nOne simple definition of management accounting is the provision of financial and non-financial decision-making information to managers.
Accounting standard Publicly traded companies typically are subject to rigorous standards. Small and midsized businesses often follow more simplified standards, plus any specific disclosures required by their specific lenders and shareholders.
Accounting software Accounting software is a computer program that maintains account books on computers, including recording transactions and account balances. Depending on the purpose, the software can manage budgets, perform accounting tasks for multiple currencies, perform payroll and customer relationship management, and prepare financial reporting.
Special Counsel investigation (2017–2019) The Special Counsel investigation was an investigation into Russian interference in the 2016 United States elections, links between associates of Donald Trump and Russian officials, and possible obstruction of justice by Trump and his associates. The investigation was conducted by special prosecutor Robert Mueller from May 2017 to March 2019.
Federal Bureau of Investigation The Federal Bureau of Investigation (FBI) is the domestic intelligence and security service of the United States and its principal federal law enforcement agency. Operating under the jurisdiction of the United States Department of Justice, the FBI is also a member of the U.S. Intelligence Community and reports to both the Attorney General and the Director of National Intelligence.
Crime & Investigation Crime & Investigation (stylized as Crime + Investigation) is an American pay television channel owned by A&E Networks, a joint venture between the Hearst Communications and the Disney Media Networks division of The Walt Disney Company. The channel also broadcasts internationally.
Medical Investigation Medical Investigation was an American medical drama television series that began September 9, 2004, on NBC. It ran for 20 one-hour episodes before its cancellation on March 25, 2005. The series was co-produced by Paramount Network Television and NBC Universal Television Studio.
Principal investigator In many countries, the term principal investigator (PI) refers to the holder of an independent grant and the lead researcher for the grant project, usually in the sciences, such as a laboratory study or a clinical trial. The phrase is also often used as a synonym for "head of the laboratory" or "research group leader".
Management Management (or managing) is the administration of an organization, whether it is a business, a non-profit organization, or a government body. It is the art and science of managing resources of the business.
Agile management Agile management is the application of the principles of Agile software development to various management processes, particularly project management. Following the appearance of the Manifesto for Agile Software Development in 2001, Agile techniques started to spread into other areas of activity.
Problem management Problem management is the process responsible for managing the lifecycle of all problems that happen or could happen in an IT service. The primary objectives of problem management are to prevent problems and resulting incidents from happening, to eliminate recurring incidents, and to minimize the impact of incidents that cannot be prevented.
Sport management Sport management is the field of business dealing with sports and recreation. Sports management involves any combination of skills that correspond with planning, organizing, directing, controlling, budgeting, leading, or evaluating of any organization or business within the sports field.
Test management Test management most commonly refers to the activity of managing a testing process. A test management tool is software used to manage tests (automated or manual) that have been previously specified by a test procedure.
Risk Factors
MERGE TECHNOLOGIES INC Item 1A RISK FACTORS You should carefully consider the risks, uncertainties and other factors described below, in addition to the other information set forth in this Annual Report on Form 10-K, because they could materially and adversely affect our business, operating results, financial condition, cash flows and prospects, as well as adversely affect the value of an investment in our Common Stock
Also, you should be aware that the risks and uncertainties described below are not the only ones facing us
Additional risks and uncertainties that we do not yet know of, or that we currently think are immaterial, may also impair our business operations
You should also refer to the other information contained in and incorporated by reference into this Annual Report on Form 10-K, including our consolidated financial statements and the related notes
We have identified material weaknesses in our disclosure controls and procedures and our internal control over financial reporting, which, if not remedied effectively, could have an adverse effect on the trading price of our Common Stock and otherwise seriously harm our business—As discussed in Item 9A, “Controls and Procedures” in Part II of this Annual Report on Form 10-K, from January 10, 2006 to May 26, 2006, we received 11 anonymous letters primarily alleging improprieties relating to our financial reporting, fulfillment of customer contracts and disclosure practices
More specifically, the letters contained allegations of improper revenue recognition practices
The Audit Committee retained the independent national law firm of Sidley Austin LLP and Alvarez & Marsal Dispute Analysis and Forensic Services, LLC (“Alvarez & Marsal”), a nationally-recognized forensic accounting firm, to conduct an independent investigation of the allegations contained in the anonymous letters
Based upon the normal year end closing process and the preliminary findings of the investigation, we identified certain errors in our financial statements for the second and third quarters of 2005
On June 29, 2006, Sidley Austin LLP reported its findings to the Audit Committee, and the Audit Committee determined that, because of improper accounting and financial reporting practices with respect to reporting periods in the fiscal years 2002 through 2005, the previously issued financial statements for each of the reporting periods in 2002 through 2005 should no longer be relied upon
See Item 9A, “Controls and Procedures” in Part II of this Annual Report on Form 10-K and Footnotes 12 and 13 to the notes to our consolidated financial statements in Part II, Item 8, “Financial Statements and Supplementary Data” to this Annual Report on Form 10-K for more information concerning the independent investigation
The investigation and the remedial actions resulting from the investigation have caused and will likely continue to cause uncertainty and disruption of our business and operations
16 ______________________________________________________________________ As discussed in Item 9A, as a consequence of the Audit Committee’s determination that because of improper accounting and financial reporting practices with respect to reporting periods in the fiscal years 2002 through 2005, the previously issued financial statements for each of the reporting periods in 2002 through 2005 should no longer be relied upon
Our management has concluded that our disclosure controls and procedures were not effective and our internal control over financial reporting had material weaknesses as of December 31, 2005
Among other things, our control environment was not adequate because certain former members of senior management did not set a proper ethical tone within our organization and instill an attitude of compliance
Certain former members of our management were directly involved in circumventing our accounting controls, and other former members of our management were aware of, or should have been aware, that such controls were being circumvented
Further, we do not currently have an enterprise resource planning (“ERP”) system, and, accordingly, are unable to manage our operations or generate reports from a single integrated data set
Although we have taken actions to begin to address the material weaknesses, our inability to remedy such material weaknesses promptly and effectively could have a material adverse effect on the accuracy and completeness of our financial statements, as well as impair our ability to meet our quarterly and annual reporting requirements in a timely manner and could also have a material adverse effect on our business relationships and our reputation
Moreover, our remediation efforts will likely require the commitment of significant financial and managerial resources
Prior to the remediation of these material weaknesses, there remains the risk that the controls on which we currently rely will fail to be sufficiently effective, which could result in a material misstatement of our financial position or results of operations and require further restatement of our financial statements
If we are unable, or are perceived as unable, to produce reliable financial reports due to disclosure control or internal control deficiencies, investors could lose confidence in our reported financial information and our operating results and the market price of our Common Stock could be adversely affected
In addition, even if we are successful in strengthening our controls and procedures, such controls and procedures may not be adequate to prevent or identify misstatements or to provide reasonable assurance that our financial statements are prepared in conformity with United States of America generally accepted accounting principles (“GAAP”)
Litigation or regulatory actions could adversely affect our financial condition—We, Richard A Linden, our former President and Chief Executive Officer, and Scott T Veech, our former Chief Financial Officer, are defendants in several lawsuits relating to our accounting and financial disclosure
In addition, Brian E Pedlar, our former Senior Vice President and former President of Cedara Software Corp, who served as our interim co-President and interim co-Chief Executive Officer from July 2, 2006 to August 18, 2006, has been named in one of the lawsuits
Veech, William C Mortimore (our founder, former Chairman and former Chief Strategist, who served as our interim Chief Executive Officer from May 15, 2006 to July 2, 2006) and all of the members of our Board of Directors are also defendants in a derivative action, alleging breaches of fiduciary duties and failure to hold a 2006 annual meeting of shareholders
These lawsuits and other legal matters in which we have become involved, are