Section 24.39.50.010 - DEFINITIONS01.Compiled. A type of financial statement in which the information presented is based solely upon representations by an organization's management.02.Estimated Cost. The total aggregate amount of the value of all the separate or individual jobs, parts, components, or undertakings involved in the construction of a single project when combined and considered as a whole.03.Financial Statement. A balance sheet and income statement prepared in accordance with generally accepted accounting principles.04.Incidental Work. Work, the nature of which does not require any additional trade licenses and which may be carried out in conjunction with an activity for which the licensee is licensed, but is not intended to produce an amount of income over ten percent (10%) of the total bid amount.05.Independent Audit Report. A report prepared by an independent certified public accountant presenting opinion on the fairness of the organization's financial statements and prepared in accordance with generally accepted auditing standards.06.Qualified Individual. The person qualifying by examination as to the experience and knowledge required by Section 54-1910(a), Idaho Code.07.Reviewed. A financial statement that is accompanied by the opinion of a certified public accountant stating that, based upon representations by the organization's management, the reviewer has a reasonable basis for expressing limited assurance that there are no material modifications that should be made to the financial statements in order for the statements to be in accordance with generally accepted accounting principles.Idaho Admin. Code r. 24.39.50.010