Cost-value Reconciliation: Module Five

In house training only - please call for cost – 1 day course

This module focuses on the contractor’s cost-value reconciliation. Topics include development of the allowance bill from the tender, preparation of the internal valuation, the valuation of work in progress, the evaluation of subcontract liabilities and the reconciliation of attributable costs at the reporting date. The relationship of the cost-value reconciliation to the contractor’s tender and to the annual accounts is explored as are SSAP9 and relevant accounting standards and practice. Complimentary workshop sessions will be held in which delegates will work on defined tasks in small teams under tutor supervision.

Objectives

  • The concept of cost, value and reporting at a common date
  • Short and long-term contracts
  • Work in progress, accounting standards and SSAP9
  • Reporting turnover and profit
  • The concept of cost and net realisable value
  • The tender allowance bill
  • Tender loading, movement of money and commercial opportunity
  • Programme and progress
  • Valuations and interim payments, under-value, over-value and on-costs in advance
  • Cut-off dates and CVR procedures
  • Valuation and payment procedures, external valuation, internal valuation and subcontract valuations
  • The impact of variations, contractual claims and subcontract liabilities
  • Site information capture
  • Cost reporting procedures
  • Reconciliation of cost and value
  • CVR reporting practice and procedure.
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