The purpose of this presentation is to provide a basic understanding of accounting principles used by the architecture and engineering industries. This is accomplished in webinar format utilizing definition or terms and examples of accounting documents and reports. In addition to Project...
- Capability Maturity Model – Firm & Project Management Practices ACCOUNTING TERMINOLOGY Section 1 Fee Types • Lump-Sum Fixed Fees are specified, firm amounts based on a stated Scope of Services. • Hourly With No Upset is based on hourly billing rates and often used when the Scope of Services is not defined. • Hourly-Not-To-Exceed Fees are based on hourly billing rates and contain a “ceiling” on hourly services. • Cost Plus Fixed Fees are based on the actual costs for base salaries, fringes and overhead plus a fixed fee for the firm’s profits. • Unit Cost Pricing is based on a cost per square foot, room, building or other unit. • Percentage of Actual Construction Cost is tied to the actual construction cost of the project on a percentage basis. • Reimbursable and Non-Reimbursable Direct Costs are considerations in all options