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Content analysis
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- 10-K Annual report
- 10.10 Cash Incentive Plan
- 10.11 Summary of Non-employee Director Compensation of Registrant
- 10.15 Form of Performance-based Restricted Stock Unit Award Agreement
- 10.16 Form of Restricted Stock Unit Award Agreement
- 10.34 Amendment, Acknowledgement and Consent to the Guaranty
- 10.35 Swap Confirmation
- 18 Letter of Independent Registred Public Accounting Firm
- 21 Subsidiaries
- 23.1 Consent of Independent Registered Public Accounting Firm
- 31.1 Certification of CEO Pursuant to Section 302
- 31.2 Certification of CFO Pursuant to Section 302
- 32 Certification of CEO and CFO Pursuant to Section 906
Exhibit 18
Board of Directors
Kadant Inc.
One Technology Park Drive
Westford, MA 01886
The note titled Nature of Operations and Summary of Significant Accounting Policies in the notes to the consolidated financial statements of Kadant Inc. included in its Form 10-K for the year ended December 29, 2007 describes a change in the method of accounting for the valuation of certain inventories from the lower of cost, as determined by the last-in, first-out (LIFO) method, or market, to the lower of cost, as determined by the first-in, first-out (FIFO) method, or market. There are no authoritative criteria for determining a preferable inventory accounting method based on the particular circumstances; however, we conclude that such change in the method of accounting is to an acceptable alternative method, which, based on your business judgment to make this change and for the stated reasons, is preferable in your circumstances.
Very truly yours, | ||
/s/ Ernst & Young LLP | ||
Boston, Massachusetts | ||
March 7, 2008 |