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A Allocation of costs is the transfer of costs from one cost item to one or more other cost items. Allowance - a value in an estimate to cover the cost of known but not yet fully defined work. As-sold estimate - the estimate which matches the agreed items and price for the project scope. B Basis of estimate (BOE) - a document which describes the scope basis, pricing basis, methods ...
Construction accounting is a vitally necessary form of accounting, especially when multiple contracts come into play. The construction field uses many terms not used in other forms of accounting, such as "draw" and progress billing . [ 1 ]
The latest officially released version of MasterFormat is the 2018 Edition, which uses the following Divisions: PROCUREMENT AND CONTRACTING REQUIREMENTS GROUP:
The IAS 11 standard of International Accounting Standards set out requirements for the accounting treatment of the revenue and costs associated with long-term construction contracts. By their nature, construction activities and contracts are long-term projects, often beginning and ending in different accounting periods .
Project accounting is a type of managerial accounting oriented toward the goals of project management and delivery.It involves tracking, reporting, and analyzing financial results and implications, [1] and sometimes the creation of financial reports designed to track the financial progress of projects; the information generated by this analysis is used to aid project management.
Constructability review is a process of reviewing design documents, construction drawings, specifications, and other construction documentation intended for use by a builder to construct the project. The purpose of a constructability review is to eliminate design errors, omissions, and coordination issues prior to bidding the documents so that ...
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ISO 7437:1990 Technical drawings — Construction drawings — General rules for execution of production drawings for prefabricated structural components ISO 7518:1983 Technical drawings — Construction drawings — Simplified representation of demolition and rebuilding