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Practice Management > Business Operations > Flashcards

Business Operations Flashcards

1
Q

Sole Proprietorship

A

Pros: Easy Set up, Complete Control, expenses can be deducted from business income on taxes
Cons: Personal Assets at Risk, Harder to raise Capital

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2
Q

(General) Partnership

A

Two or more people share profits, risk, and management of business. Should have partnership agreement.
Cons: liable for actions of your partners, personal assets at risk, taxes @ individual rate

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3
Q

Limited Partnership

A

Limited Partners are investors. they share in profits, but only risk as much as they’ve invested and have no management voice.

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4
Q

C Corporation

A

Association that exists as separate entity from it’s members. state regulated. must file articles of incorporation.

Shareholders - owners, elect directors
Directors - broad decision makers
Officers - day to day managers

Cons: high start up cost, more paperwork, double tax
Pros: personal assets protected

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5
Q

S Corporation

A

INDIVIDUAL TAX ONLY, shareholders pay directly
limited to small businesses with <100 shareholders
must be domestic company

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6
Q

Professional Corporation

A

liability is limited to responsible party

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7
Q

LLC

A 
members - invest, managers - manage
set up similar to partnership
personal assets protected
members report income via personal taxes
members are considered self employed for SS and Medicare tax contributions

Pros: easy set up like partnership, asset protection of corporation

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8
Q

Joint Venture

A

temporary association of 2+ parties for a specific project

not a legal entity separate from its members

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9
Q

Standard of Care

A

The level of skill and diligence that a reasonably prudent architect would exercise in the same time, place and circumstance.

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10
Q

Raising the Standard of Care

A

Adding language like “the best” or “to highest standards” raises the standard of care, increasing you liability or even making you uninsurable. AVOID.

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11
Q

Standard of Care in unknown conditions

A

Notify (O) immediately if (C) has not done so. investigate uncovered condition to determine if differs from documents. Issue additional materials as need to address conditions.

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12
Q

Jobsite Safety

A

CONTRACTOR RESPOSIBILITY

If contract docs give means/methods direction that impacts H/S/W on site, (C) should evaluate and propose alternative for (A) to review against design intent. If (A) does not object (C) should proceed with this proposal. This relieves (A) of responsibility for the change and meets Standard of Care.

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13
Q

Departmental Organization

A

Specialized Deparments, Work moves sequentially from one to the next through the phases of work.

Pros: Efficient, Very specialized,
Cons: inflexible

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14
Q

Studio Organization

A

Groups organized for project, or project type.
With project from start to finish

Pros: communication, group problem solving

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15
Q

Outsourcing

A

Contracting outside company for a portion of work (i.e. renderings)

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16
Q

Support staff

A

Anyone other than professional staff and senior management

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17
Q

Business Licenses

A

Required by most local jurisdictions to operate

Corporations register with state and get Corporate ID#. may need a Certificate of Authorization (COA).

LLCs get LLC certificate or other business liscense

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18
Q

Taxes

A

File SS-4, get EIN.
Collect W-4, Give W-2.
Sole Proprietors and Partnerships must file quarterly estimated taxes.
Employment tax, use tax, sales tax, property tax etc.

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19
Q

Liscensing

A

NAAB degree or NCARB BEA (broadly experienced architect) in some states, NCARB - AXP & ARE.

Reciprocity - can apply through NCARB, may require additional exams if the state has supplemental requirements for liscensure.

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20
Q

Continuing Education

A

formal - MCE (Mandatory CE)
informal - articles, L&Ls,

MCE is structured, administered by jurisdiction/AIA
H/S/W category and “other” category
AIA requires 12 HSW out of 18 total CEUs per year

21
Q

Professional Organizations

A
  • Constituency based - serve members (AIA)
  • Cause Based - serve a cause or topic (USGBC)
  • Knowledge Based - promote idea/topic (CSI)
22
Q

NCARB Rule 1

A

Competence

  • standard of care
  • take into account state/local laws/regulations
  • only perform jobs you have the knowledge and skill for
  • not practice if found substantially impaired by jurisdiction
23
Q

NCARB Rule 2

A

Conflict of Interest

  • not take payment from multiple sources for job
  • not solicit or take bribes for endorsing product or service
  • not perform service unless conflict of interest is fully disclosed and waived in writing
  • impartial decisions
  • not enter into relationship with AXP mentee
24
Q

NCARB Rule 3

A

Full Disclosure

  • don’t mislead/deceive/lie
  • disclose payment for statements to public
  • don’t misrepresent skills/experience
  • don’t misrepresent credit on a project
  • refuse to consent to and report any decision made by client or client employer that breaks building laws
  • do not lie to member board
  • do not sign untrue documents
  • cooperate with candidate/member board on seeking liscensure
  • report violations of colleagues
25
Q

NCARB Rule 4

A

Compliance with Laws

  • don’t break laws regarding prof practice.
  • don’t violate others rights or engage in fraud
  • comply with licensing laws
  • don’t bribe
  • subject to discipline if violate employees rights
26
Q

NCARB Rule 5

A

Signing and Sealing Documents

  • only sign work under your control
  • UNLESS: technical submission from manufacturer/supplier/consultant which will be included with (A)’s technical submission and has been reviewed by (A)
  • OR UNLESS: protypical documents prepared by another liscensed architect, verified to comply with project jurisdiction and will be included in (A)’s technical submission.
27
Q

AIA Canon 1

A

GENERAL

  • maintain/improve skills
  • seek to raise the standards
  • respect environment
  • respect natural and cultural heritage
  • dont disregard others rights
  • no harrassment
  • design for human dignity and promote H/S/W public
  • promote allied arts, contribute to building industry knowledge
28
Q

AIA Canon 2

A

PUBLIC

  • uphold law
  • never take/offer bribes
  • never help client with fraud/illegal acts
  • refuse to consent/report illegal decisions of client
  • serve public interest
  • pro bono service
  • civic activities
  • make reasonable efforts to inform clients of environmental impacts and obligations
29
Q

AIA Canon 3

A

CLIENT

  • serve clients professionally, competently and timely
  • unbiased judgement
  • avoid conflicts on interest
  • be truthful and candid
  • keep clients informed
  • maintain confidentiality
30
Q

AIA Canon 4

A

PROFESSION

  • uphold integrity and dignity of profession
  • practice with honesty and fairness
  • file complaint if another has broken code of ethics
  • don’t sign/seals docs not under your control
  • don’t lie
  • ensure employees and representatives follow CoE.
  • be honest about qualifications and work credits
31
Q

AIA Canon 5

A

COLLEAGUES

  • respect rights and acknowledge contributions
  • provide suitable work environment and compensation
  • reasonably assist those in internship program with timely documentation of experience
  • give others credit
  • don’t take documents from firm you leave with permission
  • don’t refuse documents for an exiting employee if they have credit for that work (non confidential though)
32
Q

AIA Canon 6

A

ENVIRONMENT

  • acknowledge responsibility to promote sustainable design
  • set ambitious goals for greenhouse gases on each job
  • optimize water conservation
  • in materials - reduce waste and toxin exposure
  • consider with clients project environmental impacts
  • incorporate adaptive strategy to anticipate natural disasters
33
Q

1909 AIA Code of Ethics Changes

A

Architects can now:

  • Compete on basis of fee
  • advertise
  • replace another architect on project
  • be engaged in construction (design-build)
  • offer free design services for the purpose of acquiring a commission (as long as not misleading/deceiving)
34
Q

Equal Employment opportunity laws

A

can’t ask interviewee about age, date of birth, marital status, national origin, race, maiden name

35
Q

Civil Rights Act 1964, Equal Employment Opportunity Act of 1972, Civil Rights Act 1991

A

no discrimination based on sex, race, color, religion, national origin

36
Q

ADA

A

no discrimination by Handicap

37
Q

15 employee rule

A

in most cases, discrimination laws only apply in businesses with 15 or more people

38
Q

Employee contract

A

details responsibilities, duties, compensation, benefits, work conditions, termination procedure, policies on moonlighting

39
Q

noncompete clause

A

sets rules on who you can work for are establishing own practice in same area for a specified amount of time after leaving job

40
Q

freelancer

A
  1. behavioral control
  2. financial control
  3. relationship between worker and employer

no benefits, provide own supplies, free to work how/where they choose, can moonlight.

41
Q

Compensation

A

any kind of payment for work (Base salary + benefits)

42
Q

Benefits

A

Vary, but typically include Insurance, Sick Time, Vacation Time, Retirement Plan

43
Q

Performance Evaluations

A
  • should never focus on one time highs or lows
  • measurable objectives
  • standardized forms
44
Q

AXP

A

creates a standard for the experience of the internship program.

45
Q

Legal Requirements - ALL

A

National Labor Relations Act (unions)
Equal Pay Act
Employee Eligibility Verification (I-9 form)
Wages and Fair Labor Standards (min wage, OT, child labor…)
OSHA
HIPPA
ERISA (standards for pension plans if applicable)

46
Q

Legal Requirements - 15

A

Civil Rights Act
Age Discrimination Act
COBRA (for 20+ employees - maintain health coverage if terminated etc.)

47
Q

Legal Requirements - 50

A

Family Medical Leave Act

48
Q

Marketing Strategies

A 
Networking
Corporate Identity (logo etc)
Brochures
Websites
Social Media
Newsletters
Presentations
Advertising
Past Clients (Word of Mouth)
49
Q

Public Relations

A

NOT tied to specific job/client
general positive image presented to target audience
press releases, articles, workshops, seminars

Practice Management (4 decks)

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