July 12, 2006
Holloway Consulting Group, Inc.
Man...I really like Holloway Consulting Groups monthly outline of information for contractors. This months issues is aptly titled "Mitigation of Contractor Claims Through Schedule Administration". The points are excellent. Please consider checking out their website and get on their reporter mailing list.
If this type of advise was followed, would there be no further need for attorneys? Naw.....at least I hope not....
Posted by Dave Seitter on July 12, 2006 | Permalink | Comments (0)
July 05, 2006
FIN 46(R) and the shareholder with the most voting rights
In an update to my article of earlier this year, the Moss Adams firm discussed in a recent article the significance that FIN 46(R) would have in the construction industry. They hit the nail on the head...the "off balance sheet" entities will now be included in your reporting on your financial statements (for those of us in the private sector does anyone remember the lessons of Enron from the public sector? Guess what? They think we are capable of undertaking the same sham.....).
What is really significant according to this article is the needed for additional disclosures for the lenders, underwriters and bonding agents. Yet, these folks have been asking for this information for some time, right? The folks I work with have been doing this for some time.....If your has not, call me so I can get you hooked up with the right people? Why? Hey, you want people as professionals around you who know the rules and what is required to make a good decision for all concerned. If not, some professional may argue you did not make a complete disclosure of circumstances, mitigating against cover of your company on a bond claim, or worse, claiming you have defrauded a financial institution....one of those federal crime things..................................
Posted by Dave Seitter on July 5, 2006 | Permalink | Comments (0)
February 01, 2006
More accounting issues
New Interpretation No. 47 issued last year by the Financial Accounting Standards Board suggests incentives to sell environmentally contaminated real estate now exists.
Wish I was an accountant so I could explain this change to you, so please...call your accountant and check it out!
Posted by Dave Seitter on February 1, 2006 | Permalink | Comments (0)
