firm

Not surprisingly, firms engaged in reclaimed lumber value-adding reported average annual revenues of $2,089,286 per firm.

A related theory is that the member firm (or umbrella entity) may be essentially the alter ego of another member firm.

This makes it possible for a firm to determine how much it is being paid to take different types of risk, and to decide whether and how it should alter the composition and magnitude of its total risk so as to maximize its value.

In response, the AICPA has provided some tips on how to groom future firm leaders (see Page 28).

To cash out of an investment, private equity firms often sell the company to a "strategic buyer." Usually that's an acquiring corporation but, increasingly, another private equity firm or a company backed by another private equity shop.

It helps avoid making the client feel rejected, and rewards the divesting firm for having attracted and served the client.

* Lower Insurance and Risk Costs: A by product of Sarbanes-Oxley compliance is accountability at all levels of the firm. This transparency can reduce costs such as Directors and Officers Insurance and litigation expenses.

In addition, succession planning, another hot topic for smaller firms, is addressed in the free PCPS white paper Preparing for Transition: The State of Succession Planning and How to Handle the Process in Your Firm (pcps.aicpa.org/NR/rdonlyres/D1C10A9F-6592-43 15-B686FD27CB55B6BA/0/PCPSWhitePaper_SuccPlan.pdf).

It is also straightforward to connect the behavior of a product price-maker (ppm), a firm that is assumed able to influence/determine the product price buyers are willing to pay (by varying the quantity it offers to sell), and a resource price-maker (rpm), a firm that is assumed able to influence/determine the resource price (wage) that workers are willing to accept (by varying the amount of labor it offers to hire); whereas the ppm faces a down-sloping product demand schedule, the rpm faces an up-sloping resource (labor) supply schedule, both implying the ability of the firm to alter price.

The CI research firms were usually given projects entailing significant field research, many interviews, and a competitive issue of major significance and importance to the firm.

The firm's other service areas include corporate reorganization and bankruptcy.

Although the fair value of the acquired firm's tangible assets was only $300 million, you convinced your board that an $800 million purchase price was reasonable, given the target firm's proprietary technology, sales growth and leading market position.

Firm: GWATHMEY SIEGEL & ASSOCIATES ARCHITECTS (www.gwathmey-siegel.com)

Responsibilities: Since founding the company in 1993, he has developed the firm from a niche broker-dealer to a full-service investment bank.

* * * This category also includes claims representing capital of a qualifying securities firm.