KEYNOTE SPEAKERS

IAPE’20 will bring out dynamic talk presentations from the best and brightest academic and industrial individuals in the applied energy field; providing insights on current and future trends. Several talk proposals have been received from several countries and about 200 participants are expected.

All keynote speakers will be announced soon !

Dr. Tsuyoshi Hoshino

National Institutes for Quantum and Radiological Science and Technology (QST)
Japan

Advanced Lithium Recycling Technology of Used Li-ion Batteries using Li Separation Method by Ionic Conductor: LiSMIC

The world is increasingly turning to the use of Li-ion batteries in electric vehicles; therefore, there is a growing need for lithium (Li). I propose new method for recovering Li from used Li-ion batteries by using Li separation method by ionic conductor; LiSMIC. Li ionic conductor is functioned as a Li separation membrane. This innovative LiSMIC involves the use of an Li separation membrane whereby only Li ions in a solution of used Li-ion batteries permeate from the positive electrode side to the negative electrode side during electrodialysis; the other ions, including Co, Al, and F, do not permeate the membrane. Li0.29La0.57TiO3 was selected as the Li separation membrane. The positive side of the dialysis cell was filled with used Li-ion battery solution, and then the negative side was filled with distilled water. In this study, the platinum (Pt) electrodes are bonded to the right and left faces (the two main faces) of the LISM, respectively. The applied dialysis voltage was 5 V, and the electrode area was 16 cm2 and 4 cm2 as new Li separation membrane. The Li recovery ratio increased with electrodialysis time. Furthermore, Li permeation speed was not depended on the electrode area, and I succeeded in the development of new Li separation membrane with small area electrode. After electrodialysis, the Li recovery water was bubbled by CO2 gas to produce lithium carbonate (Li2CO3) as a raw material for Li-ion batteries. The high purity Li2CO3 powder was easily generated under CO2 gas bubbling method. Thus, LiSMIC is most suitable for the Li recycling of used Li-ion batteries.

Dr. Tsuyoshi Hoshino obtained his Ph.D degree in engineering from the University of Tokyo in 2003. He joined the National Institutes for Quantum and Radiological Science and Technology(QST) as a Senior Principal Researcher.

He has also been involved in the R&D of lithium isotope separation and lithium recovery from seawater for Li-ion batteries as the project leader in Japan’s domestic programme. He proposed his innovative lithium recovery technology for the funding programme of the Next Generation World-Leading Researchers (NEXT Program) sponsored by the Cabinet Office of the Government of Japan, with an award of 1.6 billion Japanese yen (about 2M$) over 4 years. R&D efforts conducted under this programme have been very successful, and this technology continues to attract major attention from electric vehicle developers and other industries using Li-ion batteries

Lithium Recycling; Li-ion Batteries; Lithium Ionic Superconductor; World-First Dialysis; Li Separation Method by Ionic Conductor: LiSMIC.

Students, Post doctoral, Industry, Doctors and professors

Dr. Antonio Sanfilippo

Chief Scientist, Qatar Environment & Energy Research Institute
Hamad Bin Khalifa University, Doha, Qatar

Multi-Criteria Decision Analysis in Residential PV Adoption

Modeling the diffusion of residential solar photovoltaic (PV) systems in their technical, social, political and economic context is crucial to help policymakers assess which policies may best support adoption. The characterization of the decision making process leading to a user’s decision to be a residential PV adopter or not is difficult because of potentially conflicting objectives (cost vs. environmental concerns), the diversity of the factors involved (cost of PV, electricity tariff, cost of fossil fuel used in conventional electricity generation, subsidies, carbon tax, innovation diffusion) and the uncertainty associated with the change of the relevant factors through time. Multi-Criteria Decision Analysis (MCDA), an approach which defines a class of Operations Research models addressing complex problems, provides a solution to complex decision making that has been gaining momentum in the energy field. MCDA has been successfully applied to renewable energy analysis in endeavors that include evaluating the feasibility of different renewable energy options, assessing different alternative energies or energy technologies (e.g. electrical vs. thermal), and considering alternative technologies from an environmental perspective. In this talk, we will explore the use of MCDA for the development of a decision-making framework in residential solar PV adoption. After a description of the problem focus and the identification of the relevant factors which determine PV adoption, we will show how diverse techniques including agent-based modeling, and constrained scenario generation and optimization can be used to generate an initial dataset which can then be used to train a mathematical decision-support model (e.g. Bayesian network, decision tree, or a Dempster- Shafer belief network). In pursuing this objective, our focus will be on assessing the relative contribution of engineering, economic, policy and environmental factors to residential PV adoption to help policymakers and other stakeholders formulate optimal conditions to promote the diffusion of distributed renewable energy generation under diverse assumptions/circumstances.

Dr. Antonio Sanfilippo is Chief Scientist at the Qatar Environment & Energy Research Institute (QEERI), where he leads the Smart Grid Portfolio – a research initiative focused on advanced power systems, solar resource mapping and forecasting, and demand-side management – and a grant on “PV Adoption in the GCC” funded by the Qatar National Research Fund. From 2003 to 2014, Dr. Sanfilippo was Chief Scientist in the Computational and Statistical Analytics Division at the Pacific Northwest National Laboratory (PNNL), US Department of Energy (DOE). While at PNNL, he led research projects for the Department of Homeland Security (DHS), the National Institutes of Health (NIH), DOE, and the National Science Foundation (NSF). In 2004-2005, he headed a consortium of five national laboratories that established the Motivation and Intent thrust area at DHS, and led the PNNL team in this effort through 2009. From 2007 through 2011, he directed a four-year Laboratory Initiative at PNNL on predictive analytics focused on security, energy and environment applications. In 2012, he completed a five-year NIH grant on gene network prediction in stroke, and a four-year NSF grant on the science of science and innovation policy. From Sept 2011 through January 2014, he led an NIH grant on modeling the scientific workforce. In 2013, he was awarded a DHS grant on modeling cognitive response to mobile emergency alerts. Prior to joining PNNL, Dr. Sanfilippo held positions as director of research strategy and planning at Textology Inc., director of text mining at SRA International, and director of advanced development at LingoMotors Inc., providing strategic vision, competitive intelligence and leading the development of new products. From 1998 to 2000, he served as a senior consultant for the Information Society Directorate at the European Commission, overseeing international research consortia and organizing promotion, consultation and dissemination events. While at SHARP Laboratories of Europe, from 1992 to 1998, he supervised research and development activities in the Information Technology group, led the development of new products in the area of machine translation and information management, and was principal investigator on several projects funded by the European Union. Prior to joining SHARP, Dr. Sanfilippo was a research associate at the Centre for Cognitive Science (Edinburgh, UK) and the Computer Laboratory (Cambridge, UK), doing applied research in computational linguistics. Dr. Sanfilippo holds a Laurea degree in foreign modern languages awarded cum laude from the University of Palermo (Italy), M.A. and M. Phil. degrees in anthropological linguistics from Columbia University (USA), and a Ph.D. in cognitive science from the University of Edinburgh (UK). He is the recipient of the 2008 Laboratory Director’s Award for Exceptional Scientific Achievement at PNNL.

Solar energy adoption, renewable energy policy, renewable energy economics, agent-based modeling, Multi-Criteria Decision Analysis.

Students, Post doctoral, Industry, Doctors and professors

Dr. Diana Iruretagoyena Ferrer

Department of Chemical Engineering
Imperial College London, United Kingdom

Novel Hydrotalcite Materials for Energy-Efficient Hydrogen Production-Carbon Capture Intensification Technologies

Hydrogen (H2) is a key feedstock in the chemical industry and refineries worldwide, mainly used to produce ammonia and methanol, and upgrade heavier crude oils. Additionally, H2 can be used in electrochemical cells or in combustion engines with the advantage of eliminating pollutant emissions by end users. Therefore, development of efficient, low carbon routes to produce H2 is essential to meet its current and growing demand. The so-called sorption-enhanced H2 processes (SE-H2) are one of the most promising and immediate intensification strategies to boost the amount of H2 produced with efficient in situ carbon capture and storage (CCS), especially in steam methane reforming (SMR) based routes. However, the selection of suitable materials and the relatively low maturity of the existing SE-H2 configurations are hindering their commercial deployment.
Hydrotalcite-derived nanoparticles (HTs) are the most important group of CO2 adsorbents for SE-H2 since they show their highest CO2 sorption performance in the temperature (473-773 K) and pressure range of interest (1-30 bar). However, their overall multicycle performance in terms of capacity, stability and energy efficiency needs to be further improved before they can be successfully used commercially. In this regard, it has been reported that significant enhancement in the CO2 adsorption performance of HTs can be obtained by dispersing them on high surface area materials (e,g, multi-walled carbon nanotubes, graphene oxide and mesoporous silica).
In this work, we report for the first time a comprehensive CO2 adsorption study of Mg-Al hydrotalcite (HT) nanoparticles supported on 3D-reduced graphene oxide (rGO) aerogels under realistic high pressure and temperature conditions for SE-H2. Sate-of-the-art experimental and modelling techniques are used to gain fundamental insights into performance. The results show that the rGO aerogel support provides remarkable enhancements in terms of capacity, kinetics, multicycle-stability and importantly in energy-efficiency compared to the pure HTs. The substantial benefits obtained by the presence of the rGO aerogel in HTs are attributed to electrostatic compatibility, excellent electrical conductivity, and enhanced mesoporosity and particle dispersion. The use of other HT metal combinations (e.g. Cu-Al, Ni-Al, Fe-based) that have shown to be highly active for the catalytic reactions involved in SE-H2 is also presented in this talk. The application of these energy-efficient materials for other relevant H2-CCS reactive intensified processes such as chemical looping combustion, adsorptive desulfurisation and methanol syntesis based processes is also discussed.

Dr. Diana Iruretagoyena obtained her BSc. and MSc. in Chemical Engineering at Universidad Nacional Autonoma de Mexico (UNAM). She received her PhD in the Department of Chemical Engineering (2014) at Imperial College London, where she currently works as Imperial College Research Fellow. Her research focuses on the interfaces of reaction engineering, applied catalysis, separation processes and materials science combining laboratory experiments and modelling work. Overall, the research deals with the study and development of more economic, environmentally friendly and energy efficient processes. Her work involves the synthesis, characterization and testing of a wide range of nanostructured materials including carbon nanotubes and graphene composites, inorganic (hydro) oxides and supported metal catalysts. The aim is to understand and tune the chemical properties and morphology of these materials so they can be successfully applied in areas such as adsorption of CO2 and organosulfur compounds, and catalytic production of hydrogen and chemical intermediates from bio-based feedstocks.
Diana’s research has resulted in relevant scientific publications, and presentations, and she is part of important Editorial Boards. In addition, she has received prestigious awards in recognition to the excellence of her studies (e.g. Gabino Barreda Medal, UNAM), and her research in the field of Materials Science including the Julia Higgins Centenary Prize from the Department of Chemical Engineering, Imperial College London and the Springer Theses Award from Springer.

Hydrotalcites, Hierarchical Networks, Hydrogen Production, Graphene, Sorption-Enhancement

Students, Post doctoral, Industry, Doctors and professors

Dr. Khian-Hooi Chew

Department of Physics, University of Malaya
Kuala Lumpur, Malaysia

Electronic Structures of CH3NH3PbI3 Perovskite/Fullerence Heterojunction Solar Cells

Halide perovskites have recently attracted a lot attention due to their potential for realizing high-efficient low-cost photovoltaics. Among the halide perovskites, methyl-ammonium lead triiodide CH3NH3PbI3 is one of the most widely studied compounds. The energy conversion efficiency of these perovskites has been improved to exceed 20% within few years. Fullerenes have been widely used as the electron acceptor layers for planar-heterojunction perovskite solar cells because of their superior abilities in electron capture and transport. Using density functional theory, we study the electronic structures in heterojunction of the CH3NH3PbI3 perovskite and C60 fullerene. Energy conversion efficiency of CH3NH3PbI3/C60 heterojunction is also investigated based on the detailed balance approach. Effect of various geometrical arrangements of surface CH3NH3 cations on energy conversion efficiency of heterojucntion CH3NH3PbI3/C60 is presented and discussed..

Khian-Hooi Chew is currently an associate professor at the Department of Physics, University of Malaya. Prior to joining University of Malaya. He was an university postdoctoral fellow at the department of Applied Physics, the Hong Kong Polytechnic. In year 2006 to 2009, he joined the School of Physics, the University of Western Australia as postdoctoral fellow. He was the TWAS-UNESCO Associate for the Institute of Atomic & Molecular Science of Academia Sinica, Taiwan. He was a member of the International Advisory Committee (IAC) of the Molecular Science and Technology (MIST) Program under the Taiwan International Graduate Program (TIGP) of Academia Sinica, Taiwan. He is currently serving as the Executive Board Member of the Asian Ferroelectric Association (AFA) and the Asian Electroceramics Association (AECA). He received the ACCMS Mid-Career Award (2017) from the Asian Consortium Computational Materials Science (ACCMS). His current research interests include first-principles and phenomenological studies of ferroelectrics, 2D materials, perovskite solar cells and surface/interface phenomena..

halide perovskites, fullerene, perovskite solar cells, density functional theory..

Students, Post doctoral, Industry, Doctors and professors

Prof.P.KAMARAJ

Dean [Science and Humanities]
Bharath Institute of Higher Education and Research

Cu2ZnSnS4 nanoparticle decorated CeO2 as a photocatalyst for efficient hydrogen evolution

The rational design of sustainable noble-metal-free heterojunctions remains a key challenge for highly efficient and durable photocatalytic H2 production. In this study, it was revealed that the CZTS (Cu2ZnSnS4) nanoparticles may serve as a cocatalyst and a p-type semiconductor at the low (1.5 wt%) and high (10 wt%) loading contents, respectively. Both CZTS cocatalyst and semiconductor could evidently boost the visible-light-driven photocatalytic H2 production over the CeO2. Comparably speaking, the heterojunction effects between p-type CZTS and n-type CeO2 are speculated to play a more prominent role in dramatically boosting the photocatalytic H2 production than the electron-sink roles of surface CZTS cocatalysts. Impressively, among all the as-fabricated photocatalysts, the high quality 10 wt% CZTS could achieve the highest photocatalytic H2-production rate of 2930 μmol g-1h-1, which is approximately 59 times higher than that of pristine CeO2. In cycling experiments, CeO2-10 wt% CZTS exhibited an acceptable photostablity. More importantly, it was further demonstrated that the earth-abundant dual-functional CZTS nanoparticles could markedly facilitate the separation of electron-hole pairs and H2-evolution kinetics, thus achieving the distinctly boosted photocatalytic H2 generation. This work will provide new insights into the rationally designing environment-friendly CeO2-based hybrid nanoheterojunctions for visible-light-responsive photocatalytic H2 generation through loading the noble-metal-free bifunctional cocatalysts or semiconductors.economy. Time proved that this theory is invalid. Since the 2nd half of XX century economists used models by Walras, Arrow, and Hahn.
All these models are connected by a competitive balanced pricing mechanism. In 1947 a book by Samuelson titled “Foundations of Economic Analysis” was published. This was the first case of applying optimization theory methods for economic analysis. Samuelson
simulated consumer behavior as the interchange of maximizing and minimizing the corresponding parameters of this behavior. These models required knowledge of the mathematical tool. Over time new methods of economic analysis were created, developers designed software to solve economic problems and scientists learned to forecast economic events with some inaccuracies. But no one could be able to forecast the recent global economic crises, beginning from the mortgage crisis in the USA. In his article “Fractal Analysis of Major Attributes of Financial Rows” economics professor of Baku State University M.R. Taghiyev analyses reasons, frequency, and consequences of global economic crises of the last decades, explaining them by obsolete scientific approaches to forecasting social and economic development. Considering a state economy as a closed system under the conditions of economic globalization is a methodological mistake of researchers. The impact of external factors on the economy should be studied as an economic system element.
This is the main reason why theory models and calculations do not match real economic life. It causes invalid linear mathematical models, which don’t take into account the impact of external factors and consequently cannot describe sudden fluctuations of market behavior, the origin of cumulative processes in economics, etc.

Dr.P.Kamaraj is currently the Dean [Science and Humanities] at Bharath Institute of Higher Education and Research (Deemed to be University), Chennai, India. He served earlier as Professor and Head of the Department of Chemistry in SRM University. He has been in teaching profession for about 26years. He received his Doctoral degree from Anna University and Post Graduate degree from the University of Madras in 1992 and 1986 respectively. He has guided Ph.D., M.S, M.Sc. and M.Phil., students under different universities. His research areas include Energy materials, Photo catalysis, Corrosion, Sensors and nano materials.
Professor Kamaraj has got 4 Patents and has published over 120 research papers in high impact journals. He has authored over 7 text and reference books. His books have been prescribed as text and reference books in many Indian Universities including Anna University. He had been serving as Chairman, Board of Studies-Chemistry, Member-Academic Council and Research Advisory Board in different universities.
Professor Kamaraj received academic and research awards including Research award from the Institution of Engineers (I) and Hot article of the year 2019 recently from Royal Society of Chemistry Journal, CST. He has been serving as Chief Editor, Editorial Board Member, Guest Editor and Reviewer in Elsevier, Springer, Taylor and Francis Journals, etc. He has organized several national and international conferences, seminars and workshops. He has chaired technical sessions in many national and international conferences. He has delivered invited talks in different international and national conferences. He has edited many conference proceedings. He has published online teaching materials including scientific lecture on youtube.

CZTS, H2 production, heterojunction, photocatalyst

Students, Post doctoral, Industry, Doctors and professors

Prof. Olivier BONNAUD

Professor Emeritus of the University of Rennes 1, France
Permanent Visiting Professor of the South-East University (Nanjing - China)

Major challenges of microelectronic sector on the global electrical consumption

The emergence of a highly digital society preparing for the 4th industrial revolution, “Industry 4.0”, is introducing more and more connected objects and IoT (Internet of Things) in all economic sectors. The applications are very varied, covering all fields of activity. Connected objects increase in complexity and are multiplied by 2 every 4 years. Microelectronics is at the heart of all these associated physical objects and must meet the following challenges: increasing integration of circuits and systems, increasing performance in the storage, processing and transmission of information, extending multidisciplinary application areas and, above all, reducing the associated energy consumption. This last point becomes crucial because, despite the permanent improvment of technological performances, the growth in consumption linked to digital world is exponential and multiplied by 2 every 4 years, as well. By 2030, all of today’s global electricity production would be absorbed by the IoT without any change in electronic technology. Future players in the electronics sector will therefore have to develop, new less consuming elementary components, new hardware and software architectures, and review the concepts of data processing and transmission. These various challenges can only be met through close cooperation within the electronics sector between the academic world and industrial companies, by developing new knowledge and know-how in the training of future actors. This presentation ends by giving an example of the strategic approach and actions carried out by the French network for training in microelectronics and nanotechnologies, GIP-CNFM, to meet these challenges.

Olivier Bonnaud, born in 1950, was successively a student at the Ecole Normale Supérieure de Cachan (France), doctor in microelectronics, doctor in “es-science” (Lyon). Appointed in 1984 full professor of microelectronics at the University of Rennes 1 and Supelec (“Grande Ecole”), he created the Microelectronics Research Laboratory (currently IETR) that he has managed until 2013, as well as several microelectronics international graduate courses. He was director of doctoral studies in Rennes for 10 years. He has published or presented approximately 500 papers both on research and teaching. He has chaired or co-chaired 23 international conferences. Founder in 1985 of the “West Microelectronics Common Center (CCMO)” in Rennes, he was its director until 2010, when he was appointed by the French Minister of Higher Education, Executive Director of the GIP-CNFM structure – Public Interest Group – “National Coordination for Education in Microelectronics and Nanotechnologies”. Since then, he has coordinated this French network of 12 inter-university training centers, which annually hosts 17,000 students for practical training on more than fifty technical platforms. As part of his many international collaborations, he was appointed foreign international expert on the “1000 talents” program by the Chinese government in 2013. He was awarded by the Brazilian Microelectronics Society (SBMicro) in 2019, for his 25 year cooperation with Brazil. Since 2013, he has been Professor Emeritus of the University of Rennes 1 and Permanent Visiting Professor of the South-East University (Nanjing – China).

Electrical energy challenges, microelectronics technology challenges, connected objects, microelectronics, practical training in engineering.

Students, Post doctoral, Industry, Doctors and professors

Dr. Yegana Alikhanli

Azercell Telecom LLC
Azerbaijan University of Cooperation

On the sustainability of the dynamics of complex economic systems

The entire history of mankind is related to gathering knowledge and experience in creating tangible wealth from limited resources. The experience obtained through the centuries served as a foundation for a lot of economic theories. But starting from Adam Smith and until the present day, a unified economic theory still has not been created. All economic theories remaining up to present-day had one common concept. This was a concept of balance between separate economic parameters. As opposed to Adam Smith, Schumpeter and Marshall had similar opinions regarding economic balance. They thought that a balanced state is impossible in a capitalist economy because of constant innovations that lead the economy to a non-balanced, unsteady trajectory. Supporters of the socialism economy, i.e. absence of private property for capital goods considered this one of disadvantages of capitalist economy and promised that it will lead to elimination of this
economy. Time proved that this theory is invalid. Since the 2nd half of XX century economists used models by Walras, Arrow, and Hahn.
All these models are connected by a competitive balanced pricing mechanism. In 1947 a book by Samuelson titled “Foundations of Economic Analysis” was published. This was the first case of applying optimization theory methods for economic analysis. Samuelson
simulated consumer behavior as the interchange of maximizing and minimizing the corresponding parameters of this behavior. These models required knowledge of the mathematical tool. Over time new methods of economic analysis were created, developers designed software to solve economic problems and scientists learned to forecast economic events with some inaccuracies. But no one could be able to forecast the recent global economic crises, beginning from the mortgage crisis in the USA. In his article “Fractal Analysis of Major Attributes of Financial Rows” economics professor of Baku State University M.R. Taghiyev analyses reasons, frequency, and consequences of global economic crises of the last decades, explaining them by obsolete scientific approaches to forecasting social and economic development. Considering a state economy as a closed system under the conditions of economic globalization is a methodological mistake of researchers. The impact of external factors on the economy should be studied as an economic system element.
This is the main reason why theory models and calculations do not match real economic life. It causes invalid linear mathematical models, which don’t take into account the impact of external factors and consequently cannot describe sudden fluctuations of market behavior, the origin of cumulative processes in economics, etc.

Yegana Alikhanli earned a master’s degree in Mathematics. Since 2017, she is a dissertator at Azerbaijan University of Cooperation.

Currently working on “Econometric assessment of the impact of external economic relations on macroeconomic indicators of Azerbaijan” dissertation. Expected results of the study: The investigation examines the possible consequences of foreign economic relations on macroeconomic ones, including the impacts of external trade, direct foreign investments, international migration on the macroeconomic development of Azerbaijan, as well as their forecasting using appropriate mathematical and economic methods. To maximize the country’s income, the study will find the optimal balance between importing and exporting in foreign trade, immigration and emigration in the migration sphere, direct and foreign investments in the country’s economy, and its outflow (to other countries as well).

In February 2020, she participated in the “4th International Conference on Mathematical Models & Computational Techniques in Science & Engineering” with the scientific work “Granger Causality Analysis of Foreign Trade Impact on Economic Growth: Case of Azerbaijan“.

One of the newest article, called “Some scenarios on the impacts of the COVID-19 pandemic to automobile import demand function in Azerbaijan” examines possible scenarios of price changes in the automobile market of Azerbaijan as a result of the pandemic. The author concludes that the car market in Azerbaijan depends not only on domestic and world prices but also on household income. Since the effects of the COVID-19 virus reduce family incomes, as well as global incomes, it is likely that import demand will be decreased, therefore domestic prices will be reduced. Wider explanations are considered by the research.

Yegana Alikhanli is currently working  in the finance department of Azercell Telecom LLC, the largest telecom company in the country and also as a teacher in the Baku College of Cooperation.

Stability, bifurcation, development path, economic growth, nonlinearity, catastrophe

Students, Post doctoral, Industry, Doctors and professors

Dr. Elvin Abdullayev

Azercell Telecom LLC
Azerbaijan State University of Economics

Assessment of revenues and expenses of an enterprise in energy field

In market conditions, each energy business entity acts as a separate producer, which is economically and legally independent. An economic entity independently chooses a business field, forms a product range, determines costs, sets prices, considers sales revenue, and therefore, identifies profit or loss based on performance results. In market conditions, making a profit is the direct goal of the production of a business entity. Realization of this goal is possible only if the business entity produces products (work, services) that, by their consumer properties, meet the needs of society.

     Society does not need ruble equivalents, but specific inventory items. The act of selling a product (work, service) also means public recognition. Receiving revenue for manufactured and sold products does not mean profit. To identify the financial result, it is necessary to compare the proceeds with the costs of production and sales:

      The essence of the activity of each enterprise determines the features of its functioning, the content and structure of assets, especially fixed assets; forms an essential part of the final financial result. Profit – an objective economic category of commodity-money relations. The formation of a regulated market for goods is accompanied by an increase in the role of profit in the system of indicators of the economic characteristics of enterprises. In addition, profit is a real tax base and, as a rule, a source of tax payment.

      From a legal point of view, income is the receipt of tangible assets or intangible property (intellectual property), as well as the occurrence of obligations of debtors not related to the occurrence of obligations to creditors. The income of a manufacturing enterprise is generated from the proceeds from the sale of products, works and services, net of material costs, which include contributions to social funds and other expenses. Income analysis relates to the general case of a downward demand curve, and then to the more special case that a manufacturing enterprise faces in a competitive market.

Enterprise income is an economic indicator of the enterprise’s performance, reflecting financial income from all types of activities. Enterprise income is the total amount of money received from sales.

The effectiveness of production, investment and financial activities is expressed in financial results.

To identify the financial result, it is necessary to compare the proceeds with the costs of production and sales: when the proceeds exceed the costs, then the financial result indicates a profit. With the equality of revenue and costs, it is only possible to reimburse costs – there is no profit, and therefore there is no basis for the development of an economic entity. When costs exceed revenues, the business entity receives losses – this is an area of ​​critical risk, which puts the business entity in a critical financial situation that does not exclude bankruptcy. Losses highlight errors, miscalculations in the areas of using financial means of organizing production, management and marketing of products. Profit reflects a positive financial result

Elvin Abdullayev is a PhD  at the Azerbaijan State University of Economics. He also currently works in the finance department of Azercell Telecom LLC, the largest telecom company in the country. He has been working in the field of financial accounting for about 20 years. He graduated from the Azerbaijan State University of Economics in 2013 with an MBA in finance. He has an ACCA DipİFR degree. He conducts trainings and publishes articles in the field of IFRS. He has published about 15 scientific articles in this field  . He also conducts research in the field of finance and energy at the International Training and Project Center. It was established using the experience of the Continuing Education Centers of Oxford, Harvard and Cambridge universities, which are considered to be the world’s leading universities. He has conducted research and obtained certificates in the field of finance and accounting at Istanbul Business University. The main research area is ACCA Dipfr, tax, energy and finance

income, ordinary activities, sale, accrual method, cash basis, revenue.

Students, Post doctoral, Industry, Doctors and professors