Masonry Magazine January 1984 Page. 43
Many companies include claims that have not been awarded or agreed upon in estimated contract value for revenue recognition purposes. Many of these companies also include a profit margin on these claims when estimating the contract value. The SOP limits revenue and profit recognition on claims to certain specified situations. The survey also indicates that many companies would have to change their accounting for joint ventures if the FASB elected to adopt the joint venture accounting provisions in the accounting and audit guide that accompanied the SOP.
Arthur Andersen & Co. was the first major accounting firm to organize industry specialties. With over 800 professionals trained in the economics, trends and operations of the construction industry, the firm is committed to helping its more than 1,000 construction clients prosper. The firm offers a comprehensive and practical combination of audit, tax, information systems and professional education services backed by in-depth construction industry experience and an independent business perspective. Arthur Andersen & Co. works to keep its clients current on industry developments by publishing a construction industry newsletter, hosting seminars and conferences, and by documenting the results of its research. The survey results are summarized in a booklet entitled Construction Industry Accounting Policies. For a copy or for more information, contact John D. Smith, Industry Director, Construction Industry Team, Arthur Andersen & Co., 33 W. Monroe St., Chicago, IL 60603, (312) 580-0033.
Study Shows Brick Superior to Glass as Exterior for Buildings
Office buildings with brick exteriors can cost 8 percent less to build and 5 percent less to operate than comparable buildings with all-glass exteriors. These calculations are from a study published by the University of Texas at Arlington's Construction Research Center.
The study also found that a brick building would produce a 22 percent greater return on initial investment over 10 years because of lower maintenance and energy costs. Researchers Dr. Jack Friedman and Dr. Jack Harris of Texas A & M University based their study on two hypothetical office buildings. One had an exterior of glass curtain wall construction; the other's exterior was 80 percent brick and 20 percent glass. The two buildings were alike in nearly every other respect. Both were rectangular, 15-story buildings in suburban north Dallas, with 290,000 sq. ft. of rentable office space.
Total construction cost of the glass building was projected to be $16.2 million, while the brick building cost $14.9 million to build.
The largest single area of estimated savings was the exterior itself. The brick-and-glass exterior cost 49 percent less than the all-glass exterior, saving $1.3 million. A sturdier foundation, required to support the extra weight of the brick, offset some of these savings. But the brick needed less heating and air-conditioning equipment because it was more energy-efficient.
New Ceramic Tile Plant Goes Up
A new ceramic tile plant employing the latest fast-fire technology is nearing completion in Washington, Pa., near Pittsburgh. The plant will include facilities for clay preparation, extrusion and die cutting equipment, glazing lines, and a modern roller hearth kiln that promises production capability of 1.5 million sq. ft. annually. S. Singh Ajmani, a ceramics engineer and president of American Ceramics, Inc., the plant's owner, said, "We intend to produce rustic, slightly irregular looking tiles of the type currently popular in the U.S."
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MASONRY-JANUARY, 1984 43