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This excerpt taken from the GFIG 10-Q filed May 15, 2006. Accrued commissions
receivable represents amounts due from brokers, dealers, banks and other
financial and nonfinancial institutions for the execution of securities,
commodities, foreign exchange and derivative brokerage transactions. Accrued
commissions receivable are presented net of allowance for doubtful accounts of
approximately $3,393 and $3,202 as of March 31, 2006 and December 31,
2005, respectively. The allowance is based on management’s estimate and is reviewed
on a periodic basis based on the aging of outstanding receivables and
counterparty exposure.
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