New Jersey Accountant Can Take Off Burdens of Bookkeeping

Opening a business in New Jersey during a recession can be a daunting proposition. On one hand, the benefits that will arise when the economy turns around are potentially lucrative. That said, opening a business at any time is difficult but during a bad economy it can be frightening. It has become more critical than ever for new small business owners to get everything right during their first couple of years. For New Jersey businesses, trying to compete in the very tricky tri-state area requires even more attention to detail and the need to get everything right. Government data has shown that new businesses face more tax problems than other businesses do because there are many parts of the tax code that they are unfamiliar with. In this case, having the best representation can make the difference between a business succeeding and failing in the early days.

Having a good New Jersey accounting firm that has successfully worked with many start-up businesses is important because many firms only work with existing firms or larger companies and may not be able to manage the demands of a small business owner. For that reason, finding a good firm of accountants in NJ can be extremely difficult because there are so many options in that industry that have good references and past history and it can be tough to separate a good accountant from the right accountant. That’s especially tough, when the wrong New Jersey accounting firm will lead to more problems than they’ll solve.

Some methods to find a good New Jersey accounting firm include only working with accounting firms that have a good deal of experience, but one that is still patient with new business owners and not pushy. Not working together well can lead to a lack of trust and then the client is paying for a relationship that may not work for them and won’t be pleasant. It is recommended that people find New Jersey accounting firms that have a good bedside manner and personal customer service. Also, having experience with start-ups is a must because working with new business owners can be different than working with other companies that are more experienced. A New Jersey accounting firm that would make a new business owner feel dumb cannot be one that is recommended, even if their record is stellar. A lot of people rely on New Jersey accounting firms that have worked with friends or business partners. This can be a good method if their situation is similar to yours. The best New Jersey accounting firms can provide a very valuable service to their clients, but it’s important to have a good working relationship with them.

Everyone says that new businesses often fail. What people don’t realize is that so many new businesses usually fail because of little correctable issues rather than a bad business model. One of those little things is that having a really good New Jersey accounting firm can often be the difference between success and failure. Taking the time to find an optimal New Jersey accounting firm can make up all of that difference. More New Jersey accounting firm start each year, so it is important to go through and find the one that has the right experience that can match up with where the specifics of the new business.

The Rise of Mobile Wallets in Myanmar: A Comprehensive Guide

The Mobile Wallet Landscape in Myanmar
Myanmar is on the cusp of a payment industry transformation. With only 26% of adults having a bank account, compared to the regional average of 49%, the potential for mobile wallets is immense. The country’s currency circulation, at 21% of M2, is notably higher than its peers, indicating a significant opportunity for digital payment solutions. The mobile subscription rate, at an impressive 135% of the population, further underscores the market’s readiness for mobile financial services.

Market Dynamics and Key Players
The Central Bank of Myanmar has granted licenses to a handful of non-banking institutions for mobile financial services, a modest number compared to Vietnam’s 33 licenses. Key players include Wave Money, OK$, M-Pitesan, My Money, and MPT Money. Additionally, commercial banks like CB Bank with CB Pay, MOB Bank in partnership with Ongo, and KBZ Bank with KBZ Pay are expanding their mobile financial offerings. Tellimer Research provides insights into Myanmar’s digital payments market.

Essential Features for a Mobile Wallet in Myanmar
To meet the demands of Myanmar’s growing digital economy, a mobile wallet must include the following features:

Instant Intra-wallet Payments
Users expect immediate transfers between wallets. Delays are unacceptable in a cashless society where the payment experience should rival that of cash transactions.

Payments from and to Bank Accounts
A mobile wallet should enable transfers directly from a user’s bank account and offer the option to receive funds in either their bank account or wallet.

Bill Payments
Mobile wallets must facilitate payments for utilities, mortgages, loans, rent, and tuition, providing a convenient alternative to traditional payment methods.

Physical and Virtual Card Management
Users should be able to store and manage multiple debit/credit card details securely within the wallet, leveraging encryption for enhanced security.

Integration with Contactless Payment Technologies
Adoption of QR codes and NFC technology is essential for enabling secure, contactless in-store payments.

Security
Robust security measures, including two-factor authentication, tokenization, biometric authentication, and end-to-end encryption, are critical for protecting financial transactions.

Easy and Fast Onboarding
A seamless self-registration process is vital to prevent user abandonment during onboarding.

Coupons, Rewards, and Discounts
Offering deals and loyalty rewards can differentiate a mobile wallet in a competitive market.

Bill Splitting
This feature simplifies splitting bills among friends, enhancing user convenience and potentially attracting new customers.

Cash Withdrawals
Despite the trend towards cashlessness, providing options for ATM withdrawals remains important for situations where cash is still king.

Loan Offering and Management
Mobile-friendly loan services can create additional revenue streams, as seen with Paytm’s “Paytm Postpaid” service in India.

Analytical Diagrams and Dashboard
Financial health tracking tools can build user trust and encourage loyalty by offering insights into spending habits.

User Data Backup Facility
Options for secure data backup, such as syncing to iCloud or Dropbox, ensure users never lose track of their finances.

The Untapped Potential of Mobile Wallets in Myanmar
While the mobile wallet market in Myanmar is growing, there are still untapped opportunities. For instance, the use of mobile wallets for remittances remains relatively low despite the high number of Myanmar citizens working abroad. According to the World Bank, remittances to Myanmar amounted to approximately $2.8 billion in 2020, indicating a potential area for mobile wallet expansion (World Bank Data).

Moreover, the integration of mobile wallets with e-commerce platforms is still in its infancy. As online shopping gains popularity in Myanmar, mobile wallets that offer seamless payment solutions for e-commerce transactions could see significant growth.

In conclusion, the mobile wallet market in Myanmar is poised for significant growth, driven by the population’s embrace of mobile technology and the need for convenient financial services. By focusing on user experience, security, and innovative features, mobile wallet providers can tap into this promising market and contribute to Myanmar’s digital financial revolution.

AI Approach for Iris Biometric Recognition Using a Median Filter

The Artificial Intelligence approach is used for Iris recognition by understanding the distinctive and measurable characteristics of the human body such as a person’s face, iris, DNA, fingerprints, etc. AI methods analyzed the attributes like iris images. Each biometric authentication technique varies in the characteristic of a human being which it employs for identification. Based on various characteristics, different techniques for authentication are: Iris Recognition, Finger Print recognition, Face recognition, Palm recognition, etc.

Types of Biometric Authentication Systems

Biometric being considered the most acceptable, secure, and dependable system has captured a wide range of applications. Various biometric authentication techniques are:

1. Face recognition

2. Iris Recognition

3. Fingerprints recognition

4. Palm recognition

5. Face Recognition

Iris Recognition

Iris is the ring-shaped region in the human eye that inscribes the pupil of an eye. Iris recognition technique employs the detection and comparison of the unique patterns of iris for every individual. It is designated as the fastest and most efficient technique that is capable of producing intended results in the least duration of time.

Face recognition

Face recognition technique is rising to be the most acceptable and secure field in biometric authentication. It is employed in surveillance systems since it has the caliber to successfully execute its algorithm without object comparison. The most advantageous aspect of this technique as compared to other similar systems is individuality and attainability.

Palm Recognition

Palm recognition or Palm print recognition could be considered as an optimistic and assuring technique that employs palm characteristics for the identification and recognition of a person. The characteristics employed in fulfillment of recognition criteria are lines of a palm, wrinkles, and ridges on a hand, etc., where wrinkles of palm are identified as being thinner than the primary lines.

Fingerprint Recognition

When government organizations and agencies are taken into account, they demand high security; this requirement could be easily fulfilled using biometric systems, specifically by the fingerprint recognition technique. Every individual has a unique and distinguishable print of fingers.

Preprocessing the images using the median filter

A biometric system is designed to follow certain biometric recognition algorithms, defined specifically for each different mechanism. While processing authentication, various parameters are to be considered, such as sufficient lighting when the image is being captured, proper posture of the person, image superiority, and various others. Each biometric system employs several modes or processes to authorize, these are feature extraction, sensing, and matching modules. The filtration mechanism is applied to pre-process the input image of the iris. The pre-processing of the input image is done to remove the noisy content from it. This is achieved by applying the collaboration of median filters. After filtration, the feature from the processed image is extracted by using the LBP-LDA technique. After extracting the features, the Artificial Neural Network is used to perform pattern matching. For purpose of performance evaluation, the proposed iris recognition is implemented in MATLAB.

Application

1. Surveillance

2. Logical Access Control

3. Physical Access Control

4. Time and Attendance

5. Law Enforcement

6. Border and airport control

7. Secured transaction banking and financial institutions

Final words

Security has become the main issue in today’s world. Various security and authentication methods or techniques are applied to secure the iris template. The proposed feature extraction and pattern recognition techniques on the preprocessed image so that the security and reliability of the system could be raised.