Coming in 2018

The new standards of the Generally Accepted Accounting Principles for recognizing revenue were finalized in 2014. Public companies must comply with the new guidelines in 2018, while private companies and not-for-profit organizations have an extra year to start using the new standards.

When to count income

January 1, 2017  |  Business

Get ready for new guidelines on ‘revenue recognition.’ Sometimes accounting rules and the tax law are logical and equitable; sometimes they aren’t. One question always seems to surface: When is a business’s revenue considered “income”? The time to claim income and deductions is dictated …
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Keeping up with the Joneses

January 1, 2017  |  Business, Management

Stephan Kåmark is president of Oxnard, Calif.-based Advanced Canvas & Upholstery Services. The Channel Islands Harbor shop specializes in flooring, enclosures, covers, solar power and repairs in the marine, industrial, aviation and military sectors, offering quality fabric and hardware from the…
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Good people, bad choices

December 1, 2016  |  Business, Management

Even the most well-intentioned employees are vulnerable to slipping into unethical choices when their lives lack balance. Ask an average person, “Would you voluntarily do something that is unethical or illegal?” Generally, he or she will reply something like, “Heavens, no!” People naturally …
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Soft sensors

December 1, 2016  |  Business

Flexible data collectors that can be worn on (and eventually, in) the body have great promise for patient-focused health care, but there are privacy concerns. The market for smart sensors is expected to grow from $18.58 billion in 2015 to more than $57 billion by 2022, according to a report publishe…
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Northern niche

November 1, 2016  |  Business, Management

Kate Mitchell is the owner of NOMAR, a Homer, Alaska-based company that develops unique items to serve the local industries. NOMAR first opened its doors in 1978 as Mitchell’s Marine Canvas & Upholstery. Today, it employs 15 skilled employees and offers American made clothing, ‘Laska Luggage…
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The Halo effect

November 1, 2016  |  Business, Management

Threading carefully to minimize damages from patent infringement. The smart textile industry continues to respond to customer interest in interactive fabrics that meet a variety of needs, including the monitoring of athletic performance and the improvement of tissue reconstruction. This growth drive…
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Price and value in the agricultural markets

October 11, 2016  |  Business

Profit margins are tight for a lot of industries, but this is especially true in the agricultural arena, where profits can be wiped out—in some cases virtually overnight—by events beyond the control of growers and producers. Consequently, pricing has become a huge concern for all involved, say m…
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New technology and management strategies can prevent targeted cyberattacks

October 1, 2016  |  Business

Modern, targeted cyberattacks can take any organization by surprise. And these targeted cyberattacks are increasingly widespread. CBS “Money Watch” reported in June 2015 that more than 80 percent of U.S. companies have been successfully hacked, according to a Duke University/CFO Magazine Global …
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Shading for land or sea

October 1, 2016  |  Business, Management

Sandy Sturner is the managing director of Marine Tech LLC, a St. Thomas, Virgin Islands-based sail and canvas shop that thrives on challenging and unusual projects. Established in 1999, Marine Tech focuses during the winter “high” season on marine canvas with an emphasis on mega-yachts, and duri…
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Coating tests that evaluate five types of durability

September 1, 2016  |  Business

The right coating chemistry can make the difference between a fabric that has long-lasting durability and one that fades, degrades and fails before its expected lifecycle. This is especially true of fabrics used in awnings, tents, flexible decking, outdoor furniture, marine upholstery and automotive…
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