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Study Group: Homebuilder Financial Statement Analysts(?)

Council Members in this Study Group: 22

This study group may include chief financial officers, chartered public accountants, controllers, and consultants knowledgeable on topics such as finance, taxation, auditing, forensic accounting and fraud, financial accounting and reporting, bankruptcy, pension benefits, cash flow, company valuation, working capital, hedge accounting, and mergers and acquisition, among others.

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Leading Experts in this Study Group

Eli Bartov, CPA, Professor, New York University (inc)Eli Bartov, CPA
Professor
New York University (inc)

Dr. Bartov, PhD, CPA, is a Research Professor of Accounting at the Stern School of Business, New York University. He has authored numerous scholarly articles on issues of accounting earnings manipulations, earnings quality, equity valuation, executive stock options, insider trading, market efficiency,...

David Keller
FormerChief Financial Officer
Technical Olympic USA Inc.

David J. Keller most recently served as the Chief Financial Officer and Treasurer at Technical Olympic, a NYSE national homebuilding company. Prior to this, Mr. Keller served as the Chief Financial Officer at Citifinancial, a subsidiary of Citigroup. Previously, he served as the Chief Financial Officer...

Stephen Turner, CPA
Director of Internal Audit
Security National Financial Corporation

Stephen Turner is the Director-Internal Audit of Security National Financial Corporation, UT-based insurance provider and mortgage wholesaler. He has over 25 years of experience in domestic and international manufacturing, construction, and financial services. Previously, Mr. Turner served as a Project...

Gregory Schulte
Senior Vice President, Chief Accounting Officer
The Corky McMillin Companies

Greg Schulte is the Senior Vice President, Chief Accounting Officer at The Corky McMillin Companies, a large, privately-held full service residential and commercial real estate development and homebuilding company. Mr. Schulte was also a self-employed consultant, and an audit partner with the Big 4...

Greg Steers
Chief Operating Officer
GENESIS RESIDENTIAL GROUP

Greg A Steers is the Chief Operating Officer at Genesis Residential Group, FL-based real estate development company. He also serves as the President of Trinity Builders, a FL-based project development, marketing and construction company. Mr. Steers has served in Florida markets since 1999. Previously,...

GLG NewsSMAnalyses by this Study Group's Leading Experts(?)

Opinions and analyses expressed in GLG News are solely those of the author. See the Terms of Use for details.
Centex going green for popularity and sales. Not because its the reponsible thing to do. | 07-14-2008
Author: GLG Expert Contributor

- Centex scrapped cutting edge solar panel program in Naples Florida community last year due to expense. - This was after a hand shake agreement with local environmentalist Clyde Butcher to provide solar to Naples community in exchange for his endorsement. - A hand full of houses were completed...

Continued Housing Difficulties | 05-14-2008
Analysis of: The Housing Crisis is Over | online.wsj.com
Author: David Keller, Former Chief Financial Officer, Technical Olympic USA Inc.

The housing bust is not over and trends continue to be negative.  The only positive activity is that homebuilding stocks have gone up, without a good reason.  We still have a ways to go to work through all this.

Direct Expensing of Interest by Homebuilders | 05-06-2008
Analysis of: Hidden Mortgage Risks Abound in U.S. Home Market | www.bloomberg.com
Author: David Keller, Former Chief Financial Officer, Technical Olympic USA Inc.

Not capitalizing interest in inventory causes acceleration of losses and deterioration of book value.

ARE HOMEBUILDING STOCK PRICE INCREASES PREMATURE? | 04-24-2008
Author: David Keller, Former Chief Financial Officer, Technical Olympic USA Inc.

Recently, stock prices of most public homebuilders have increased 20-30 percent.  This despite no visible signs of improvement in the overall housing industry.  It seems early in the cycle for these stock price upward movements, as it appears the housing market has not yet found bottom. ...

IMPAIRMENT REVERSALS – IMPACT ON COST OF GOODS SOLD | 04-24-2008
Author: David Keller, Former Chief Financial Officer, Technical Olympic USA Inc.

Homebuilders have recorded large inventory impairments over the last couple of years.  Most of these impairments have been for land and lots.  As these previously impaired lots are built on and a completed home is delivered, the land component as a percentage of Cost of Goods Sold may decline...

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Generated at 2008-10-07T13:45:18.680