Que) What would be generally accepted trade order for compilling a builder's take off would be? Ans) This process is known as takeoff — or material takeoff (MTO) — and is an essential part of the estimating process.
Essentially, the takeoff should quantify all the materials needed to complete the building, structure or project. This does not include assets such as tools and equipment, which are also required to do the job but should include all the physical materials that go into the project. This could be raw materials such as concrete, timber or sand, as well as prefabricated materials; bricks, lengths of electrical cable, plumbing pipes, and light fixtures.
Different contractors might have a diverse range of requirements when it comes to compiling their takeoff. A roofing specialist will use different materials than a concrete contractor, for example, but the principles of takeoff are broadly the same.
There are four key types of measurement required for the takeoff in most construction projects.
The estimator will need to count the numbers required for specific individual items. These could be anything from the number of light fixtures required for a given building to the number of studs necessary to finish the project.
Some items, such as cables and pipes, are measured primarily by length. You will also need to know other dimensions, such as diameter, but this information will be included with the type of material required.
Some materials will require a measurement of the surface area. This could include elements such as flooring, cladding, or an estimate of the amount of paint needed for a given structure.
Measurements of volume may be needed for some materials, such as the amount of asphalt used per yard or the concrete required to lay a foundation.
There are two main types of takeoffs
Many construction design professionals still use traditional paper blueprints and plans, and it’s possible to conduct an accurate takeoff from these materials.
2. Digital takeoffs
While it’s possible that manual takeoffs can be used to produce an accurate estimate, they can be complex and laborious. They can also throw up errors if you get a measurement, count, or calculation wrong.
What would a generally accepted Trade Order for compiling a Builder's Take Off would be?
According to generally accepted accounting principle, what is the balance sheet valuation of each of the following assets? a) Trade accounts receivable b) Land c) Inventories d) Trading securities (common stock of other companies) e) Prepaid expenses
1.The Phillips curve shows an important trade-off faced by economic policymakers. This trade-off was used to point out the legitimacy of government intervention in the economy for many years. a) he trade-off demonstrated by the Phillips curve seemed to fail during the 1970s. Why? What happened? b)( What is the currently accepted belief about the Phillips curve? (This question has to do with the long run vs short run) 2.Some people will argue against using either monetary or fiscal policy,...
Accountants follow generally accepted auditing accounting standards and generally accepted accounting principles (GAAP). Distinguish between the GAAS and GAAP. What professional organization establishes the GAAS and what is its purpose? What professional organization establishes the GAAP? Can GAAS exist without GAAP and/or vice versa and why is this so? Do GAAS and GAAP have different agendas and why is each needed?
Reducing WC, Intangibles, or PPE would seem to increase the TAT. What is the trade-off that must be analyzed for one of these strategies to accomplish the goal of increasing the TAT?
Discuss the static trade-off theory and the pecking order theory of capital structure. What are the main differences between these two theories?
In the context of X-ray imaging, the generally accepted estimation of risk per dose of developing a lethal cancer is 5 × 10−4 rem−1. Estimate the number of chest X-rays which would have to be undergone in order to acquire an estimated risk of 1% of developing a lethal cancer from the chest
In what key ways does the FASB influence generally accepted accounting principles for government?
In order to comply with Generally Accepted Accounting Principles (GAAP), companies must use absorption costing to report income statement. However, the most successful companies use variable and absorption costing methods for their managerial purposes. Coca Cola is a publicly owned company so visit its website to find bout the company’s products and operations. Discuss the pros and cons of absorption and variable costing as the basis for the selected company’s product costing.
What is the purpose of generally accepted accounting principles (GAAP) and the accounting cycle? Is it possible to deviate from GAAP and the accounting cycle and still prepare financial statements? Why? What are some possible consequences of this course of action? Cite your sources APA
Which of the following best describes what is meant by generally accepted auditing standards? A Audit objectives generally determined on audit engagements. B Measures of the quality of the auditors' performance. C Acts to be performed by the auditors. D Procedures to be used to gather evidence to support financial statements.