Annual report pursuant to Section 13 and 15(d)

NOTE 17: - WARRANTY

v2.4.1.9
NOTE 17: - WARRANTY
12 Months Ended
Dec. 31, 2014
Product Warranties Disclosures [Abstract]  
Product Warranty Disclosure [Text Block]
NOTE 17:–                      WARRANTY

The following is a summary of the deferred warranty revenue in the Simulation Division included in total deferred revenue as of December 31, 2014 and 2013:

   
Year ended December 31,
 
   
2014
   
2013
 
Balance at beginning of period
 
$
3,206,369
   
$
2,682,462
 
Deferred revenue
   
5,006,658
     
3,434,186
 
Revenue recognized
   
(3,912,425
)
   
(2,910,279
)
Balance at end of period
 
$
4,300,602
   
$
3,206,369
 

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, 2014:

   
Year ended December 31,
 
   
2014
   
2013
 
Balance acquired in UEC acquisition
 
$
638,943
   
$
 
New reserves
   
44,670
     
 
Costs incurred
   
(297,411
)
   
 
Balance at end of period
 
$
386,202
   
$