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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 ]
By their nature, construction activities and contracts are long-term projects, often beginning and ending in different accounting periods. Until its replacement with IFRS 15 in January 2018, IAS 11 helped accountants with measuring to what extent costs, revenue and possible profit or loss on the project are incurred in each period.
An engineering drawing is a type of technical drawing that is used to convey information about an object. A common use is to specify the geometry necessary for the construction of a component and is called a detail drawing.
A list, usually tabular and often on the drawing (if not accompanying the drawing on a separate sheet), listing the parts needed in an assembly, including subparts, standard parts, and hardware. There is no consistently enforced distinction between an L/M, a BoM, or a P/L. PLM: product lifecycle management; plant lifecycle management: See also ...
Model-based definition (MBD) is a method of product specification using elements within 3D models as defined by ASME Y14.41-2012. ASME Y14.41-2012 is based upon ASME Y14.5-2009 symbols and definition methods, such as Geometry Dimensioning and Tolerancing (GD&T).
The construction documents, specifically the technical specifications, require the contractor to submit product data, samples, and shop drawings to the architect and engineer for approval. This is one of the first steps that is taken by the contractor after execution of the construction contract and issuance of the "Notice to Proceed".
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An architectural drawing or architect's drawing is a technical drawing of a building (or building project) that falls within the definition of architecture.Architectural drawings are used by architects and others for a number of purposes: to develop a design idea into a coherent proposal, to communicate ideas and concepts, to convince clients of the merits of a design, to assist a building ...