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Management of the Construction Project
Šrotová, Zuzana ; Zouhar, Petr (referee) ; Waldhans, Miloš (advisor)
This thesis describes the basic procedures of the management of a construction project. For a better understanding of the processes here explains the concepts that are contained in this work. The goal is to become familiar with the specific procedures and methods of project management during the implementation of construction projects.
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Financing of Building Construction from Public Sources
Bujnošková, Iva ; Ščevík, Vojtěch (referee) ; Vítková, Eva (advisor)
The Bachelor’s thesis is focused on public construction orders and their financing options. The theoretical part describes public orders and funding sources from the perspective of the investor. This section also contains information on the financial management of the project and links to the European and the state budget. The example of financial plan preparation from investor's perspective is shown in the practical part.
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Financial Plan of Bulding Order
Kašová, Michaela ; Hroníková, Marta (referee) ; Hejduková, Amálie (advisor)
The theme of bachelor´s thesis is financial plan of building order. This thesis is dividend into two parts - theoretical and practical. In the theoretical section explains the concepts of construction contract, own sources of funding, foreign sources of funding, grants, preparation of construction contracts, financial planning and implementing the project. The practical part describes the construction contract, investor and main contractor. There is also time schedule, monthly costs, sources of funding and financing plan is to work .
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Offer price construction contracts
Vitásek, Stanislav ; Galatíková, Milada (referee) ; Marková, Leonora (advisor)
This work deals with the bid price of the panel house revitalization funded by a private investor. To establish bid prices, itemized budget shall be used and the decision matrix for finding the materials quality is used for revitalization. Specifically, it examines the quality of the insulation system and windows. The aim of this work is offering the best possible option and its possible alternative with the best ratio of price with a respect to technical features of panel house revitalization to investor.
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Management of Building Order
Zedníček, Michal ; Adam, Petr (referee) ; Waldhans, Miloš (advisor)
My bachelor's thesis deals with the process of management and organization linked with the building contract. In the particular construction company XYZ analyzes the process and organization of construction contract in their stages. It represents a construction company OHL ŽS, a.s. and specific realized building. Defines the problems with construction during realization and offers possible solutions to these problems.
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Cost Analysis of Private Construction Order
Švára, Karel ; Peštuková, Michaela (referee) ; Hromádka, Vít (advisor)
The work analyzes the costs of construction contract which arise during its realization. The theoretical part is devoted to the characteristics of term of construction contract, describes its types, distributions, phases of construction and financing options. Then there are described participants of construction, term cost and possibilities of division of costs. In the practical part there is made cost analysis of individual months of construction and classification of costs by purpose of its expenditure on specific construction contract, which is a family house built in 2005.
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Contract Management Process in Stavcent, JSC
Streitbergová, Pavla ; Vinš, Marek (advisor) ; Heřman, Jan (referee)
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.
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Accounting for Construction Contracts
Vondráček, Pavel ; Krupová, Lenka (advisor) ; Janhuba, Miloslav (referee) ; Feketeová, Renáta (referee)
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.
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Construction Contracts under IFRS and US GAAP
Jančíková, Hana ; Krupová, Lenka (advisor) ; Vašek, Libor (referee)
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.
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