Arthur Laffer policy". The drastic tax cuts had "threatened the viability of schools and infrastructure" in Kansas. Laffer is the founder and CEO of Laffer Associates in Nashville, Tennessee, an economic research and consulting firm that provides global investment-research services to institutional asset managers, pension funds, financial institutions, and corporations. He sits on the board of directors of several public and private companies. Laffer has been appointed to the advisory board of Sonenshine Partners, an independent investment bank focused on providing integrated strategic, financial and corporate advisory services. In 2004 Laffer joined the Board of Pillar Data Systems, a non-public Data Storage
Notional profit Notional profit Notional Profit A contract usually takes several years to get itself completed. If the profit on such contracts is recorded only after their completion, then wide fluctuations may be noted in the profit figures of contractors from year to year. To avoid these fluctuations in the reported profits and to reflect the revenue in the accounting period during which the activity is undertaken, the profit in respect of each contract in progress is transferred to the profit and loss account of the year by calculating the notional profit. The portion of notional profit to be transferred to the