Concentration of Credit Risk. Financial instruments that potentially subject the Company to concentrations of credit risk are cash, accounts receivable and other receivables arising from our normal business activities. We place our cash in what we believe to be credit-worthy financial institutions. We have a diversified customer base. We control credit risk related to accounts receivable through credit approvals, credit limits and monitoring procedures. The Company routinely assesses the financial strength of its customers and, based upon factors surrounding the credit risk, establishes an allowance, if required, for uncollectible accounts and, as a consequence, believes that its accounts receivable credit risk exposure beyond such allowance is limited. The Company’s revenue recognition policies are in compliance with Staff Accounting Bulletin SAB 104 (ASC 605). Sales revenue is recognized at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, no other significant obligations of the Company exist and collectability is reasonably assured. Advertising costs are charged to expense as incurred and were immaterial for the years ended December 31, 2009 and 2008. Research and development costs are expensed as incurred. The Company utilizes SFAS No. 109 (ASC 740), "Accounting for Income Taxes," which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred income taxes are recognized for the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each period end based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASI Holdings Ltd has significant income tax net operating losses carried forward from prior years. Due to the uncertainty of the realizability of the related deferred tax asset, a reserve equal to the amount of deferred income taxes has been established at December 31, 2009 and 2008. Statement of Financial Accounting Standard No. 107 (ASC 825), “Disclosures about Fair Value of Financial Instruments”, requires that the Company disclose estimated fair values of financial ...
Concentration of Credit Risk. Xxxxxx House, Inc. and Xxxxxx Lakeside at Reeds Landing grant credit without collateral to its residents, most of whom are insured under third-party payor agreements. Xxxxxx Communities, Inc.’s residents are privately funded. The mix of receivables from residents and third-party payors for 2014 is as follows: Private $ 719,026 Medicaid 407,715 Medicare 396,155 Other third-party payors 528,638 2,051,534 Allowance (214,695) The following is a summary at December 31, 2014: Land $ 2,531,584 Land improvements 1,595,813 Buildings 67,356,624 Building improvements 20,371,240 Furniture and equipment 7,318,489 Motor vehicles 407,498 Construction in process 239,211 99,820,459 Less: accumulated depreciation and amortization (42,694,118) $ 57,126,341 Construction in process is for various apartment renovations, building expansion and improvement at Xxxxxx House Nursing Center, and other miscellaneous renewals and improvements across the communities.
Concentration of Credit Risk. Major Customer
Concentration of Credit Risk. The Company at times has cash in bank in excess of FDIC insurance limits. At December 31, 2007 the Company had approximately $7,392 in excess of FDIC insurance limits.
Concentration of Credit Risk. The System grants credit without collateral from its patients, most of who are local residents and are insured under third-party payor agreements. The mix of receivables from patients and third- party payors as of and for the years ended December 31, 2013 and 2012 was as follows: 2013 2012 Medicare 13 % 11 % Medicaid 31 39 Managed care 32 31 Commercial 8 8 Self-pay and other 16 11 100 % 100 %
Concentration of Credit Risk. Financial instruments that potentially subject the Company to credit risk consist of accounts receivable. The Company provides credit to its customers in the normal course of operations. It carries out, on a continuing basis, credit checks of its customers, and maintains allowance for credit losses contingent upon management’s forecasts. Concentration of credit risk arises when a group of customers having similar characteristics such that their ability to meet their obligations is expected to be affected similarly by changes in economic conditions. As of September 30, 2009, one major customer accounted for about 33.6% of the total accounts receivable. For the period ended September 30, 2009, the Company had one major customer which accounted for about 28.3% of the total revenue.
Concentration of Credit Risk. The Company places its cash with high quality financial institutions and at times may exceed the FDIC $100,000 insurance limit. The Company will extend credit based on an evaluation of the customer’s financial condition, generally without collateral. Exposure to losses on receivables is principally dependent on each customer’s financial condition. The Company will monitor its exposure for credit losses and maintains allowances for anticipated losses, if required. Advertising costs are expensed as incurred. There were no advertising expenses for the periods. The Company accounts for income taxes under SFAS 109, "Accounting for Income Taxes." Under the asset and liability method of SFAS 109, deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Under SFAS 109, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period the enactment occurs. A valuation allowance is provided for certain deferred tax assets if it is more likely than not that the Company will not realize tax assets through future operations. Basic and Diluted Income/(Loss) Per Share: In accordance with SFAS No. 128, "Earnings Per Share," the basic income/(loss) per common share is computed by dividing net income/(loss) available to common stockholders by the weighted average number of common shares outstanding. Diluted income per common share is computed similar to basic income per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive.
Concentration of Credit Risk. Concentration of credit risk with respect to accounts receivable is limited due to the wide variety of customers and markets in which the Company’s products are sold, as well as their dispersion across different geographic areas. As a result, at December 31, 2001 and 2000, the Company does not consider itself to have a significant concentration of credit risk. While the Company believes that the equipment required from its suppliers is presently available in quantities sufficient to meet demand, the failure of a significant supplier not to deliver on a timely basis could adversely affect the Company’s future results of operations. At various times during the year, cash and cash equivalents on deposit with one banking institution exceeded the $100,000 insured by the Federal Deposit Insurance Corporation. Management monitors the financial condition of the institution on a regular basis, along with their balances in cash and cash equivalents, to minimize this potential risk.
Concentration of Credit Risk. The Company's accounts receivable are derived from sales of products and services primarily to customers operating multi-location retail stores, hotels, and hospitals. At December 31, 2000 and 1999, accounts receivable includes amounts due from four customers totaling $216,202 and $660,970, respectively. These customers accounted for 79% and 87% of accounts receivable at December 31, 2000 and 1999, respectively. Sales to significant customers are summarized in Note 14. The Company provides credit terms to its customers in the normal course of business. The Company performs ongoing credit evaluations of it customers and maintains an allowance for doubtful accounts based upon collection assessment. Collateral is not required from customers.
Concentration of Credit Risk. The Bank grants commercial, residential and consumer loans to customers primarily located in the counties of Juniata, Mifflin, Perry, Huntingdon, Franklin and Xxxxxx, Pennsylvania. The concentrations of credit by type of loan are set forth in the note, "Loans Receivable and Allowance for Loan Losses". Although the Bank has a diversified loan portfolio, its debtors' ability to honor their contracts is influenced by the region's economy.
