Annual report pursuant to Section 13 and 15(d)

NOTE 16: - WARRANTY

v3.6.0.2
NOTE 16: - WARRANTY
12 Months Ended
Dec. 31, 2016
Product Warranties Disclosures [Abstract]  
Product Warranty Disclosure [Text Block]
NOTE 16:–                      WARRANTY

The following is a summary of the deferred warranty revenue in the Simulation Division included in total deferred revenue as of December 31, 2016 and 2015:

 
 
Year ended December 31,
 
 
 
2016
   
2015
 
Balance at beginning of period
 
$
3,358,866
   
$
4,300,602
 
Deferred revenue
   
3,344,498
     
4,323,821
 
Revenue recognized
   
(4,000,749
)
   
(5,265,557
)
Balance at end of period
 
$
2,702,615
   
$
3,358,866
 

The following is a summary of the warranty liability in the Power Systems Division that is also included in deferred revenue as of December 31, 2016 and 2015:

 
 
Year ended December 31,
 
 
 
2016
   
2015
 
Balance at beginning of period
 
$
380,904
   
$
386,202
 
New reserves
   
136,668
     
187,969
 
Costs incurred
   
(315,143
)
   
(193,267
)
Balance at end of period
 
$
202,429
   
$
380,904