Содержание
- 2. G 3. Construction Contracts Types of contracts Recognition methods : Presentation :
- 3. IAS 11 (International Accounting Standards) Construction Contracts provides requirements on the allocation of contract revenue and
- 4. History of IAS 11 — Construction Contracts
- 5. TYPES OF CONSTRUCTION CONTRACTS Two broad categories: Price Given in Advance Contracts (Priced-based Contracts) Cost Reimbursement
- 6. TYPES OF CONSTRUCTION CONTRACTS 1. Lump Sum Contact 2. Contract based on a Bill of Quantities
- 7. 1. Lump Sum Contact Main Aspects 1. Payment may be staged at intervals of time. 2.
- 8. 1. Lump Sum Contact Advantages The final price is known The contractor has more incentive to
- 9. 2. Contract based on a Bill of Quantities Sometimes called Unit Price Contract Main Aspects Items
- 10. 2. Contract based on a Bill of Quantities Sometimes called Unit Price Contract Advantages 1. Saving
- 11. 3. Schedule of Rates Contract Main Aspects 1. A Schedule of the work items without quantities.
- 12. 3. Schedule of Rates Contract Advantages 1. Work can be commenced earlier than if a full
- 13. 4. Cost plus Percentage of Cost Main Aspects 1. The contractor is reimbursed for all his
- 14. 4. Cost plus Percentage of Cost Advantages 1. Construction can start before design is completed. 2.
- 15. 5. Cost plus Fixed Fee Main Aspects 1. The owner pays all costs of construction with
- 16. 6. Target Cost with Variable Fees Contract Main Aspects 1. The contractor and owner agree to
- 17. 6. Target Cost with Variable Fees Contract Advantages 1. There is an incentive to carry out
- 18. 7. Guaranteed Maximum Price Contract (GMP) 1. The contractor guarantees that he will construct the project
- 19. Recognition methods Stage of Completion (Percentage of Completion) Value Based Methods Cost Based Method - See
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