Social Sciences Business Business management
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The beginning of every design project starts with the Request For Proposal or RFP.
customer specification included in the
Reading and interpreting the ____________ is a major factor in Specification
a good bid proposal and system design.
If you take the safer approach, and add safety factors into not be the low or successful bidder.
your bid to account for things you may have missed in the
specification, you probably will ______________
Accounts Payables debts that the company owes and expects to pay within one year that are not
evidenced by a written promise to pay.
Accounts Receivable invoices owed to the company that will likely be paid within one year and have
not been formalized by a written promise to pay, such as a note receivable.
Assets resources held by the company that will probably lead to some future cash
inflows. For example, a piece of property is an asset because it could be sold to
produce a cash inflow.
Balance Sheet The balance sheet is a snapshot of a company's financial assets, liabilities, and the
value of the company to its owner at a specific point in time (often referred to as
net worth, or equity).
Balance Sheets are prepared how often? At the end of each month and at the end of the year
Cash demand deposits (such as savings and checking accounts), time deposits (such as
certificates of deposits) with a maturity of one year or less, and petty cash.
, Committed Costs those costs that the company has committed to pay and can be identified before
a bill is received for the costs.
Cost Control occurs when the accounting system provides management with the accounting
data in time for management to analyze the data and make corrections in a timely
manner..
Cost Reporting occurs when the accounting system provides management with the accounting
data after the opportunity has passed for management to respond and correct
the problems indicated by the data.
Direct Costs the labor and material to complete a project.
Fixed Assets land, buildings, construction equipment, trucks and autos, and office equipment.
Fixed Costs costs that tend to be fixed over a specific range of revenues. For example, if a
company currently has two salaried employees working as estimators, the cost of
these employees is fixed over the volume of work that can be won by these
employees. Rent is normally a fixed cost if the size of the office does not vary
based on workload.
General Overhead costs that cannot be specifically identified to the completion of a construction
project. includes all main office and supervisory costs that cannot be billed to a
specific construction project.
Another term for General Overhead indirect costs
Gross Profit Margin the gross profit divided by the total revenue times 100%.
Inventory materials that are available for sale, or are available and expected to be
incorporated into a construction project within the next year.
Liabilities obligations for a company to transfer assets or render services at some future
time for which the company is already committed. Loans and warranty reserves
are common examples
Mixed Costs costs that contain both a variable cost component and a fixed cost component.
For example, if a company paid its estimators a base salary plus a bonus based on
the volume of work won
Net Profit calculated as Gross Profit minus Taxes.
If you think of it in terms of your paycheck, you have your profit, and the amount
you are left with after taxes
Net Profit Margin deducts taxes from the gross profit to obtain the margin.
Nicet 3 fire alarm
Save
Students also studied
Nicet 3 fire alarm Nicet 3 fire alarm Nicet 3 fire alarm Nicet 3
162 terms 162 terms 162 terms 162 term
Mohamd6056657 Preview Joanna_Iturriaga Preview Preview Trai
The beginning of every design project starts with the Request For Proposal or RFP.
customer specification included in the
Reading and interpreting the ____________ is a major factor in Specification
a good bid proposal and system design.
If you take the safer approach, and add safety factors into not be the low or successful bidder.
your bid to account for things you may have missed in the
specification, you probably will ______________
Accounts Payables debts that the company owes and expects to pay within one year that are not
evidenced by a written promise to pay.
Accounts Receivable invoices owed to the company that will likely be paid within one year and have
not been formalized by a written promise to pay, such as a note receivable.
Assets resources held by the company that will probably lead to some future cash
inflows. For example, a piece of property is an asset because it could be sold to
produce a cash inflow.
Balance Sheet The balance sheet is a snapshot of a company's financial assets, liabilities, and the
value of the company to its owner at a specific point in time (often referred to as
net worth, or equity).
Balance Sheets are prepared how often? At the end of each month and at the end of the year
Cash demand deposits (such as savings and checking accounts), time deposits (such as
certificates of deposits) with a maturity of one year or less, and petty cash.
, Committed Costs those costs that the company has committed to pay and can be identified before
a bill is received for the costs.
Cost Control occurs when the accounting system provides management with the accounting
data in time for management to analyze the data and make corrections in a timely
manner..
Cost Reporting occurs when the accounting system provides management with the accounting
data after the opportunity has passed for management to respond and correct
the problems indicated by the data.
Direct Costs the labor and material to complete a project.
Fixed Assets land, buildings, construction equipment, trucks and autos, and office equipment.
Fixed Costs costs that tend to be fixed over a specific range of revenues. For example, if a
company currently has two salaried employees working as estimators, the cost of
these employees is fixed over the volume of work that can be won by these
employees. Rent is normally a fixed cost if the size of the office does not vary
based on workload.
General Overhead costs that cannot be specifically identified to the completion of a construction
project. includes all main office and supervisory costs that cannot be billed to a
specific construction project.
Another term for General Overhead indirect costs
Gross Profit Margin the gross profit divided by the total revenue times 100%.
Inventory materials that are available for sale, or are available and expected to be
incorporated into a construction project within the next year.
Liabilities obligations for a company to transfer assets or render services at some future
time for which the company is already committed. Loans and warranty reserves
are common examples
Mixed Costs costs that contain both a variable cost component and a fixed cost component.
For example, if a company paid its estimators a base salary plus a bonus based on
the volume of work won
Net Profit calculated as Gross Profit minus Taxes.
If you think of it in terms of your paycheck, you have your profit, and the amount
you are left with after taxes
Net Profit Margin deducts taxes from the gross profit to obtain the margin.
