NEWS & BLOGS EXCLUCIVELY FOR INFORMATION TO ENGINEERS & VALUERS COMMUNITY
MEANING OF RESPONSIBILITY AND ACCOUNTABILITY Responsibility Responsibility relates to tasks and projects. Responsibility is defined as an obligation to perform or complete the assigned task. It is the duty of the subordinate to complete the delegated task adequately. Being responsible for something means that it’s your duty to carry out the related tasks. More than […]
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BANKRUPTCY AND LIQUIDATION This is a legal procedure which allows individuals freedom from their debts, whilst providing creditors with an opportunity for repayment. It is undertaken via the courts where the Official Receiver (see above) will initially administer the procedure but, depending on the circumstances of the case, may well appoint an Insolvency Practitioner. Although
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MEANING OF LUMP SUM CONTRACT- ALL YOU NEED TO KNOW A lump sum contract, also known as a “stipulated sum contract,” is a construction agreement in which the contractor agrees to complete the project for a predetermined, set price. Under a lump sum agreement, the contractor submits a total project price instead of bidding on each
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MEANING OF WAGES AND ITS TYPES-ALL YOU NEED TO KNOW Wages are the financial benefits given by the employer to the workers for their labour. ‘Labour’ in fact means all types of physical and mental efforts being done by the workers to complete the task of their master. Besides remuneration in cash, certain non-financial benefits
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COST VOLUME PROFIT ANALYSIS – ALL YOU NEED TO KNOW The total cost of a firm depends on its volume of output. The total cost has two parts— fixed and variable. Fixed cost remains fixed at all levels of production in the short-run, but variable cost proportionately changes with the volume of output. Again the
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SALIENT FEATURES OF MODEL BUILDING BYE-LAWS – 2016 Safety and security : Includes Structural Safety, Disaster management as per Prof. Arya Committee Report and BIS Codes including Structural Design Basis Report (SDBR) for various building Prevention measures against “Soft Storeys” in multi-storeyed buildings and Proof Checking of Structural Design for buildings. Barrier Free Environment: Provisions
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MEANING OF DECENTRALIZATION AND ITS IMPORTANCE Decentralization means diffusion of authority. The dispersal of the authority of decision-making to the lower level management is termed as decentralization. Decentralization of authority is a fundamental phase of delegation and the extent to which authority is not delegated is called centralization. “Decentralisation refers to tire systematic effort to
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DEFINITION OF ABSORPTION COSTING AND ITS ADVANTAGES & DISADVANTAGES Absorption costing is a costing method that includes all manufacturing costs — direct materials, direct labor and both variable and fixed manufacturing overhead in the cost of a unit of product. Absorption costing is also referred to as the full cost method. Because absorption costing includes
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CHALLENGES AND OPPORTUNITIES OF ORGANIZATIONAL BEHAVIOR Challenges and opportunities for organizational behavior are massive and rapidly changing for improving productivity and meeting business goals. The nature of work is changing so rapidly that rigid job structures impede the work to be done now, and that may drastically change the following year, month, or even week. Improving Quality
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MEANING OF ORGANIZATIONAL BEHAVIOR AND ITS IMPORTANCE Organizational Behavior (OB) is the study of human behavior in organizational settings, the interface between human behavior and the organization, and the organization itself. Organizational Behavior researchers study the behavior of individuals primarily in their organizational roles. One of the main goals of organizational behavior is to revitalize
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VALUATION ISSUES AND STANDARDS It is important to recognize and deal properly with certain subtleties and standards in the field of valuation. Issues and standards to keep in mind include: Treatment of Debt If the method used to determine company value uses a pre-debt-service income measure, then debt must usually be subtracted from the resulting
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BALANCE SHEET METHODS OF VALUATION These methods of valuation are most often employed when the business under examination generates most of its earnings from its assets rather than from the contributions of its employees. These methods are also used, “when the cost of starting a business and getting revenues past the break-even point doesn’t greatly
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