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What else can I help you with?
Why is an Estimate at Completion so useful to Program Managers in assessing the contract completion costs?
Distributing funds to complete contract
What are the differences between BAC and EAC?
BAC is the budget at completion is the cumulative BCWS at the end of this contract. EAC stand for estimate at completion which is the contractor's best guess estimate of how much the effort will actully at the end of the contract.
What is the purpose of a life cycle cost estimate?
provide funding for contract actions
What is the purpose of a Life Cycle Cost Estimate (LCCE)?
provide funding for contract actions
How much can you charge above an estimate you've given?
Unless there is some special clause in the estimate, you may not charge any extra. An estimate is a contract, and binding on both parties if accepted.
What is a blanket purchase agreement contract?
It is an contract between one or more buyers and one ro more supplier to estimate the amount of items to be delived at the rigt the price and at the the right place agreed
Can you make a homeowners insurance claim and self contract?
This will be up to the adjuster. Sometimes they will allow you to do this if you are qualified to do so and you agree to the estimate that the adjuster comes up with.
Can a Colorado home buyer break a contract and if mortgage specialist didn't provide the FHA booklet or written good faith estimate and rushed the homebuyer into making offer?
The mortgage specialist not providing the loan information is not grounds for breaking the contract as the contract is with the seller and not the lender. Find a different lender if you are going to continue w/the loan, or if you want to break the contract you will probably lose any money you have put down as security.
Is price quote the same as contract?
No, a price quote is not the same as a contract. A price quote is an estimate provided by a seller outlining the expected costs for goods or services, often subject to change. In contrast, a contract is a legally binding agreement between parties that specifies the terms and conditions of a transaction, including price, delivery, and obligations. Once both parties agree to a contract, it typically supersedes any prior quotes.
What do the completed contract method of accounting for long term contract use for?
The completed contract method of accounting is used for long-term contracts to recognize revenue and expenses only when the contract is fully completed. This approach is beneficial for projects where it is difficult to estimate the percentage of completion or when the outcome is uncertain. It provides a clear view of profitability at the conclusion of the project, as all costs and revenues are recorded at once, avoiding potential distortions in financial statements during the contract's duration. However, this method can lead to significant fluctuations in reported income, as revenue is recognized only at the end of the contract.
Can a business who hires a company for contract work and then helps their employees it has hired go into business in direct competition on same job be held liable?
Depends on the Contract. Alot of subcontractor contracts prevent this. If the Prime contractor has received an estimate from a subcontractor and the subcontractor is working at the site or project under a estimate or purchase order then yes, the Prime contractor can be held liable for all monies under the contract if the subcontractor can prove that the employees were on their payroll and during this project the Prime contractor solicited Sub employees to become independent contractors.
Can you distinguished Contract of Sale from contract to sell?
Contract to sell is an executory contract while contract of sale is an executed contract.
