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In order to achieve the stated goal of reducing the final closing procedure time cycle for construction projects at the Texas Department of Transportation (TxDOT) Odessa District, several standard operating procedures (SOPs) for project construction control and management had to be revised. Seemingly unrelated tasks created posterior chains of events that resulted in bottlenecks in the process and delayed final project closing. Four specific SOPs were identified and analyzed to determine which tasks required modification and what was expected from these modifications. A mission for each specified SOP was conceived and written to give a clear view of the intent of the procedure. Afterwards, district policies were drafted to provide the means to fulfill the intent. The procedural changes, compatible with TxDOT statewide procedures, allowed the time spent in the processes to remain the same but redistributed it to reduce the end-loading of the control process. The new SOPs require an even time distribution cyclically throughout the project. Control procedures are done only once, shortening the final closing procedure for projects by doing one-time, short, cyclical, consecutive control tasks of the same procedure throughout the life of the project, rather than doing some of them once cyclically and then again at the closing procedure and others just at the closing procedure. These changes resulted in a shorter end-cycle time, which substantially reduced the final closing procedure time for each project, without affecting the integrity and safeguards of the project. The changes resulted in more efficient and timely financial, managerial, and engineering control of projects. The procedures revised were (1) Review and Approval of Change Orders; (2) Review and Approval of Monthly Progress Estimates; (3) Review and Approval of Interim and Final Audits and Final Estimate; and (4) Storm Water Pollution Prevention Plans (SW3P) Records Management and Auditing Procedures.

By utilizing the Case Study Reserch, the J company was selected as the target of research which adopt with IFRS(International Financial Reporting Standards).The all been probed into suitable main points about some variation topics regarding to the financial reports of J company as the examples, to summarize the trial balances with some accounts had been adjusted and showed financial with its impacted amount. The proposal is to suggest to those construction companies and to their investors in accordance to those problems. Due to the J Company adopt IFRS in financial statements, we found some material impacts listed as followed, the stockholder equity increased,widened operational revenue while the fluctuation , current income/loss and the earning per share fluctuated. The result of research shows that early involvement and promotion will be very helpful to identify the issues and find out the solutions by discussing with Certified Public Accountant (CPA) and government authorities. When the adoption of IFRS by the construction companies, it not only has material impact over financial information but it also has hugely influence over their operation performance and their operational models respectively. Therefore the construction companies should cautiously evaluate all confronted problems after the adopted IFRS. The transformation to IFRS is a big process and time-consuming for all of Taiwan¡¦s public listed companies.

The aim of this thesis is to put the liability obligations arising from the FIDIC contract templates into the context of the current Czech legislation, while uncovering potential conflict areas and evaluating the pros and potential risks arising from the use of these contract templates in the Czech construction industry. The first part of the thesis contains characteristics of all components of civil liability, defines its role in the legal and theoretical field and lays the basis for the practical conclusion in the second part, which focuses in more detail on the treatment of liability obligations under the FIDIC contracts. To illustrate these conclusions, the comparison is made on a particular narrow issue of the quantification of the claims of the parties arising from the above-mentioned liability obligations.

This work focuses on construction contracts under IFRS and US GAAP. The objective of this work is to outline the basic principles of accounting treatment of revenue and costs associated with construction contracts and presentation of such contracts in financial statements. Practical part of this work evaluates information on construction contracts in annual reports of companies reporting in compliance with IFRS.

A construction contract is a contract specifically negotiated for the construction of an asset or a combination of assets that are closely interrelated or interdependent in terms of their design, technology and function or their ultimate purpose or use. The primary issue in accounting for construction contracts is the allocation of contract revenues and contract costs to the periods in which the construction work is performed. Four approaches to accounting for construction contracts have developed over time: the completed-contract method, recognition based on cost incurred, the percentage-of-completion method and recognition based on invoicing. The basic principle of the completed-contract method is to recognize revenue only when it is certain, i.e. in the period when the contract is completed. During the period of performance no revenue is recognised and costs are accumulated in the balance sheet. The main disadvantage of this method is the lack of comparability of the presented amounts between single periods. On the other hand the method is based on the finally determined results, which means that the reported values are certain and cannot be manipulated by the company. Recognition based on costs incurred has the basic concept of recognizing profit only when it is certain. Thus the profit is recognised when the contract is finished. During the realization of the project revenue is recognised only to the extent of contract costs incurred. Contract costs are recognised as an expenses in the period in which they are incurred. The amounts of expense presented in the income statement are fully comparable between accounting periods. The reported revenue has much lower volatility than when using the completed-contract method. This approach provides the users of financial statement with an indication of the volume of a company's business. Under the percentage-of-completion method contract revenue is matched with the contract costs incurred in reaching a stage of completion, resulting in a reported revenue, expenses and profit which can be attributed to the proportion of work completed. Financial statements based on this method present more accurately the relationships between the gross profit from contracts and related period costs. The main disadvantage is the dependence on estimates of contract revenue, contract costs and percentage of completion. The estimates can be made intentionally or unintentionally inaccurate. In contrast to the other approaches recognition based on invoicing has no theoretical concept. Contract revenue is recognized according to the invoiced amounts in the appropriate period. An expense is recognised in the amount of costs allocated to parts of the project, which are the object of invoicing. The fundamental disadvantage of this approach is the possibility of manipulation of the amounts of recognized revenue and expenses. The presented amounts can be very different in similar economic situations. For the users of financial statements, the percentage-of-completion method is preferable, because this method provides useful information on the extent of contract activity and performance during a period. The presented amounts are fully comparable between accounting periods. On 24 June 2010 the IASB and FASB published an exposure draft Revenue from Contracts with Customers. This new standard should supercede IAS11. It has another approach to revenue recognition, but it doesn't mean that the presented values of construction contracts will differ significantly.

The thesis is inquiring into the theory of construction contract management process. The current contract procedure is demonstrated on real life example of the Joint-stock construction company Stavcent. The aim of the thesis is to explore the procedure implemented during contract management process followed by proposal of possible innovations in this area. The research is as usual divided into theoretical and practical part. The theoretical part introduces the selected topic. The practical part presents the Stavcent, JSC at first, followed by description of single phases of the construction contract; beginning with record keeping, preparation of the offer, budget, timetable, selection and evaluation of suppliers and subcontractors, inventory administration and finally invoicing. The conclusion of the practical part is devoted to possible future innovations in contract management.

Darbe nagrinėjami šalių bendradarbiavimo pareigos vykdant statybos rangos sutartį teoriniai ir praktiniai aspektai. Pirmoje darbo dalyje siūlomas šios pareigos apibrėžimas, klasifikuojami pareigą sudarantys elementai, aptariama pareigos apimtis, ribos, reikšmė. Bendradarbiavimo pareiga statybos rangos atžvilgiu suprantama labai plačiai, kaip apimanti įvairaus pobūdžio šalių veiksmus, būtinus, kad būtų pasiektas statybos rangos sutarties tikslas. Antroji darbo dalis skirta praktiniams aptariamos pareigos aspektams ir su jais susijusioms problemoms aptarti. Šioje dalyje nagrinėjami šalių bendradarbiavimo pareigos klausimai susiję su statybos leidimo pateikimu, statybvietės sąlygomis, darbų atlikimu su užsakovo medžiagomis, projektinės dokumentacijos pateikimu ir pranešimu apie jos klaidas, neatitikimus, darbų perdavimu – priėmimu, darbų pakeitimais ir t.t. Darbe kritiškai vertinamas kai kurių statybos rangos sutarties sričių teisinis reguliavimas Lietuvoje, t.y. atsakomybės neproporcingas paskirstymas tuo atveju, kai darbai atliekami su užsakovo pateiktomis netinkamomis medžiagomis, atliktų darbų perdavimo – priėmimo kriterijai ir t.t. Analizuojami klausimai dėl užsakovo ir genrangovo teisės kontroliuoti darbus, o būtent tai, kad darbų kontrolė yra tapusi ne teise, o pareiga. Aptariami kiti veiksniai įtakojantys statybos rangos sutarties šalių bendradarbiavimą vykdant statybos rangos sutartį. Trečioje darbo dalyje pristatoma alternatyvi šalių bendradarbiavimą statybos rangos... [toliau žr. visą tekstą] / This master thesis analyses practical and theoretical aspects concerning the parties’ obligation to cooperate in the performance of a construction contract. The first part of the work proposes the definition of such obligation, discuses the extent and limits of this obligation, also classifies its elements. The parties’ obligation to cooperate in the performance of a construction contract is understood very broadly and includes all reasonable actions of a party necessary to be taken in order to achieve the goals of the construction contract. The second part of the work analyses the practical aspects of the obligation and the problems that surround it. This part particularly deals with the questions of the cooperation concerning the delivery of the permission to build, the site conditions, delivery of the design projects and the contractor’s obligation to warn about any discrepancies therein, taking over of the works and so on. The work presents a critical approach to some spheres of legal regulation in Lithuania, i.e. disproportion of the liability concerning the work done with inappropriate materials presented by the employer, the criteria of the works that have to be taken over and so on. Another point analysed is the right of the employer or the main contractor to control the works which has actually transformed into an obligation. Also other factors are analysed that have the influence on the cooperation between the parties in the performance of a construction contract... [to full text]

This master thesis deals with the determination of the variant prices for the public construction contract. The thesis is divided into the theoretical and practical part. The theoretical part analyses prices, construction contracts and budgets in general. Public construction contract for the residential building in Štěpánov was selected for this thesis. In the practical part the construction contract and the supplier company are briefly described. The price of the construction contract is analysed in the price analysis, where the budgets of the contracting authority and the selected supplier are compared. Based on this analysis, alternatives of material usage are suggested. At the end of the thesis the overall economic evaluation is carried out and the variant price of the contract is determined.

My diploma thesis I have divided on two parts – theoretical and practical. The goal of my work is to show the method how to project in construction and demonstrate it in a particular construction company and illustrate a solution to a specific order. I would like to describe and handle two different contracts, focus on the selection process, form of processing some data, contractual arrangements or necessary resources.