Remove Finance Remove Insurance Remove Materials Remove Overhead
article thumbnail

Job Order Contracting Training Note – JOC Coefficient

Job Order Contracting

home office overhead; insurance, bonds, and indemnification; project meetings, training, management and supervision; mobilization and close-out for the contract and each Project/Job Order; project office staff and equipment; profit; subcontractor’s overhead and profit; all taxes for which a waiver is not available including material sales tax (..)

Contract 100
article thumbnail

Army Job Order Contracts FAIL to meet AFARS requirements MOST OF THE TIME

Job Order Contracting

This practice does not work for material, labor, equipment, nor does it account for local market productivity in any effective manner. Locally researched JOC Price Books are readily available to provide cost visibility, cost transparency, and therefore improve cost management. d) Distribution.

Contract 227
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Construction Bookkeeping Unique Features

Contractor Bookkeeping

Expenses - Overhead required to maintain business operations. Expenses - Overhead is extremely complex because some expenses in regular Accounting are actually Cost of Goods Sold in construction accounting. Chart of Accounts Financing Costs. Chart of Accounts Insurance Health And Dental. Chart of Accounts Financing Costs.

article thumbnail

Construction Business Owner Blogs

Construction Business Owner

INSURANCE |. Accounting & Finance. ” Every construction project is a gamble – you’re betting that your estimate is accurate, that labor and material prices don’t go through the roof, etc. It may mean shuffling resources, making quick material purchases, or incurring overtime labor expenses. STRATEGY |. MANAGEMENT |.

article thumbnail

Contractors Are Renting Rather Than Buying More Equipment.

ENR Construction

Material Trends. Equipment rentals allow contractors to shift downtime risk while trimming expenses, including licensing, insurance, taxes and debt, among others. The recession prompted many contractors to thin their fleets in order to lower overhead and generate cash. Economic Stimulus. -->. Safety & Health. Associations.

article thumbnail

A glossary of terms with reference to Construction Cost Estimating

Construction Cost Estimating

Bill of materials (BOM) - a list of materials required for the construction of a project or part of a project, which may include quantities. Bill of quantities (BOQ) - a document used in tendering in the construction industry in which materials, parts, and labor (and their costs) are itemized. See also Overhead, Indirect cost.

article thumbnail

Setting up a Job Order Contract Using Best Management Practices

Job Order Contracting

general and administrative and other overhead costs, insurance costs, bonding and alternative payment protection costs, protective clothing, equipment rental, sales tax and compliance with tax laws, and also contractor’s profit). . JOC Characteristics. (a)

Contract 100