Black spectacles Flashcards
1
Q
OAC Liabilities
A
Architect - design intent (idea, design decisions, compliance);
Contractor - materials and methods(fulfilling contract, producing, all construction related elements, safety on jobsite);
Owner - program, site info, $, signing contracts and environmental issues.
Don’t take on other party’s liabilities.
2
Q
Financial well being of a practice
A
Profit and loss:
in a current period of time of actual money in and out, ideally matching pro-forma.
Balance sheet:
Right now debt vs money in.
Cash flow report:
Daily money in and out
Pro-forma: projections into future
