Alisa HuntAlisa Hunt has been a financial consultant for more than 20 years, and she has worked extensively with the construction industry.ManagementAssessing Your Income StatementDESCRIPTION 1ST YEAR % 2ND YEAR % 3RD YEAR %There are times when the percentages on an income statement appear to be skewed. This often is due to the recording of expenses before the corresponding revenue has been earned, such as when you have purchased all your materials for a huge job that you haven't started yet. It is suggested that, rather than record things in that manner, contractors should record the expenses as "work in progress" inventory on the balance sheet. This process, which was described in the article on balance sheets featured in the December 2004/January 2005 issue of Hardwood Floors on page 49, would show up as a current asset.March 31, 2005ManagementUnderstanding Your Balance SheetNovember 30, 2004Page 1 of 1Top StoriesDesignCraftsmanship Across the Globe: Introducing the Winners of the 2024 WFB Design AwardsHailing everywhere from Italy to Portugal to Cincinnati to Washington, D.C., to Brazil to Chicago (by way of Poland), the recipients of this year’s WFB Design Awards prove, through sweat and creativity, that true craftsmanship has no borders.Machines/ToolsMeet the Repairman Turning Edgers Into ArtworkContractingWhat’s Your Top Advice for When Things Get Slow?DesignWhite Oak vs. Red Oak: As Pressure Increases on White Oak, Red Oak Is a Versatile AlternativeSponsor ContentRecognizing Retail Excellence: Enter the 2024 WFB Outstanding Retailer Awards
