Budgeting
Percentage Completion
An assessment of how far along a task has progressed as a percentage of its total duration. As the assessment is very often subjective, it should not be relied upon as a firm basis for quantitative analysis of a project’s progress. A better approach is the use of...Dual Overhead Recovery System (DORS)
Material costs are increased by a predetermined percent to recover indirect G&A (general and administrative) overhead costs on materials. Direct labor costs are increased by another predetermined percent to recover indirect G&A costs on labor. Equipment costs,...Multiple Overhead Recovery System (MORS)
To recover indirect G&A (general and administrative) overhead, material costs (with tax) are usually marked up 10%, equipment costs are marked up 25%, subcontractors costs are marked up 5% and direct labor (including labor burden) is marked up by a calculated...Managerial Accounting
The process of identifying, measuring, analyzing, interpreting, and communicating information for the pursuit of an organization’s goals. The key difference between managerial and financial accounting is that managerial accounting information is aimed at helping...Activity Dictionary
A listing and description of activities that provides a common/standard definition of activities across the organization. An activity dictionary can include information about an activity and/or its relationships, such as activity description, business process,...The Building & Remodeling Wiki Sponsors:
