Page 26 September 17, 2015 Edmond Life & Leisure

The Veraden
359-1230
2709 E. Danforth Rd.
www.veradenlife.com

The Veraden is an up and coming independent and assisting living

community that will be opening its
doors in the summer of 2016. Get
ready Edmond, because this community has some unique offerings
as well as just bringing you comfort
and wellness in retirement.
Anita Kelley is the Sales and
Marketing Director for The
Veraden. We are a retirement
community that is going to offer
independent and assisted living, as
well as memory care, says Kelley.
We are also going to have a new
service called Care Complete. Its
nine levels of assisted living. So we
will be able to go further in caring for
residents. You dont see that much
in Oklahoma. Theyve done this in
Texas and they have been very
successful there.
The Veraden offers all sorts of
activities and things to do like swim
in their heated, outdoor swimming
pool, participate in fitness classes,
personal training and more. There
will be a calendar of special activi-

Lost in a maze
of many acronyms
By LaDonna Sinning
Im hearing lots of acronyms from our auditors. Would you please decode those?
Those of us working in technical fields tend to
take lots of shortcuts in our conversations. Unfortunately, we dont always remember to interpret those for our friends. The most common
acronyms in the accounting world are GAAP
and FASB. GAAP stands for Generally Accepted
Sinning
Accounting Principles and are those principles
set by FASB. FASB, or the Financial Accounting
Standards Board, promulgates accounting standards for United
States companies. Following these standards results in financial
statements completed in accordance with GAAP. The individual
accounting standards are referred to with references such as
FASB ASC 320-10-35-17. This example is specifically referring to
the Financial Accounting Standards Boards Accounting Standard
Codification topic code 320 (Investments Debt and Equity Securities), subtopic 10 (Overall), section 35 (Subsequent Measurement), paragraph 17 (Scope of Impairment Guidance). Thus the
acronym FASB ASC with some numbers after it is referring to
specific guidance issued.
I now have some idea of what they are talking about. Im also
hearing PCC and VIE. What do those mean?
PCC is the Private Company Council. Established fairly recently, the PCC is working to recommend standards to FASB that
are options designed specifically for private companies. You may
have heard the term big GAAP and little GAAP which refers to
GAAP for large, publicly-traded companies versus GAAP for
smaller privately-owned companies. The PCC has recommended
a handful of standards which are now available to private companies. One of those has to do with the consolidation of VIEs. A
VIE is a variable interest entity. A VIE is essentially an entity that
one company controls while not also owning a majority interest.
One of the most common forms is when one company owns
real estate and rents that to another company for operations. A
specific example would be a manufacturing company owned by
a family. The family owns another company which holds all the
land and buildings used by the manufacturing company and
charges the company rent. In this situation, the manufacturing
company may have control over the real estate company even
though it doesnt directly own the company. One way this could
happen is if the manufacturing company guarantees debt on the
real estate or otherwise ensures payments are made. The PCC
now gives the option for a private company to not review such a
VIE for consolidation into the financial statements. An exception,
if you will, for companies that are not publicly traded.
There are many other acronyms that we could discuss. Hopefully this gets you started in being able to follow along with your
auditor.
LaDonna Sinning is a Certified Public Accountant, Certified
Fraud Examiner and partner at Arledge and Associates, PC, an
Edmond-based accounting firm. Arledge & Associates, PC is a
recognized leader in the accounting industry offering practical
solutions in the areas of tax planning, auditing, consulting, accounting advisory services and client accounting.

ties for each month. We will have

barbecues and outdoor parties
around the pool, says Kelley.
It will also be minutes away from
Downtown Edmond and other
places for shopping and dining. The
Veraden will also have its own chefprepared meals throughout the day
and each apartment comes with its
own kitchenette for late night
snacking.
You will never have to worry
about the safety of your loved ones
while they are at The Veraden
either. We will have an underground tornado shelter, says
Kelley. But it is not just a concrete
bunker, it will have a theater as well
as a little caf and an activity area
so if we are there, there will be comfortable seating and things to do.
Kelley says another thing that will
set The Veraden apart is that good
ol country feel. There will be lots of
trees and its out a bita really
beautiful part of Edmond. So I think
it will be very pleasant. Not as
crowded and not very much traffic.

The Veraden is owned by

Segora Senior Living company out
of Texas. They have 18 different
communities around the country in
Texas, Alabama and Florida and
now Oklahoma is getting its first
location.
The word veraden actually has
a meaning behind it and a reason
for why it was chosen. The state
flower is the red rose and so they
picked the word vermillion (meaning red), and then Edmond is
known as the jewel of Oklahoma.
And the celadon is a jewel. So
they combined the two words, and
viola!
The Veraden will have plenty of
events as it gets closer to opening
next summer so you can go and
take a tour. There are only a limited number of apartments available
for assisted and independent living
so give Kelley a call for more information at 359-1230 or visit their
website at www.veradenlife.com.
Alexx Harms

Ex-UCO professor joins cause

Artist seeking donations to help

restore metro area Old West art
By Steve Gust
The fate of the Chisholm
Trail Mural, artwork depicting Yukon's heritage, hangs
in the balance as efforts continue to restore it.
The mural, a creation of
Joy Willingham of Verden, is
at Fourth and Main in Yukon
and highlights an colorful
chapter of American and
Yukon history, the 19th century Old West cattle drive.
A former University of
Central Oklahoma professor,
Bob Palmer, is joining her in
helping to restore the mural.
"This was such an imporPHOTO PROVIDED
tant part of history for our In 1989, famed Oklahoma actor Dale Robertson posed
economy," Willingham said. with artist Joy Willingham at an Old West mural he dediIn 1989 she drew inspira- cated.
tion from the longhorn catOct. 3.
tle owned by the late actor Dale Robertson.
"They probably get 15,000 people for
The famous Oklahoma born actor, known
that,
so it would be good to have it done by
for his cowboy roles, died in 2013. Robertthen,"
Willingham said.
son had a ranch just north of Yukon. He also
Palmer is no stranger to putting art on a
helped dedicate the mural the morning of
wall.
the first festival. Willingham was a big fan.
"I've probably done over 1,800," he said.
"I loved him," Willingham said. "I really
"I
told
Joy I would be glad to help."
wish he was still here."
Originally Palmer thought about painting
At the time, Willingham lived in Yukon
a
new
mural, but Willingham told him public
and was involved in the chamber. The mural,
input
favored
restoration of the existing
done in time for the first Chisholm Trail Festimural.
At
age
68, Willingham knows this
val, has adorned the Yukon landscape since.
may be one of her last opportunities to
The problem now is that many seasons of
make sure the mural continues in Yukon.
rain, snow and blistering sun have taken a
"We will be using paints this time which
toll. The colors have faded and it's in dire
should
keep the mural vibrant for many
need of a restoration.
years," she said.
To effectively do that, it's going to cost
Anyone interested may visit a Go Fund
$7,500, Willingham said.
Me
page Willingham has set up.
"Back when it was done I had a budget of
http://www.gofundme.com/ut2gwm9k
$3,700 and we know what costs have done
since then," she said. Some of the expense
would include use of a scissors lift and other
scaffolding. So far, fund raising is at the
$1,000 mark and Willingham hopes for
more.
She has enlisted the help ofPalmer, a former art professor at the University of Central
Oklahoma. Besides funding challenges, the
duo are also facing a deadline.
They want the restoration done prior to
the start of the popular Yukon Czech Festival