Construction Accounting

- Revenue ကို တြက္ခ်က္ရာမွာ Contracts in Progress လုပ္ငန္းျပီးစီးမႈ အေျခေနေပၚမွာ တြက္ယူရပါတယ္

- Percentage of Completion Method (or) Completed Contract Method ဆိုတဲ့ တြက္နည္း (၂မ်ဳးိ) ထဲက

တခုခုန႔ဲ တြက္ထုတ္ရမွာပါ။ Percentage of Completion Method က အသံုးအမ်ားဆံုးျဖစ္ျပီး Costs ေတြကို

Estimate ဘယ္လိုမွ မတြက္ႏိုင္တဲ့အခါမွသာ Completed Contract Method ကို အသံုးျပဳရပါတယ္။

- % complete = Total construction costs to date / Total estimated costs of contract

- Gross profit to date = % complete X Total estimated gross profit

- Current year's gross profit = Gross profit to date - Gross profit in prior years

Contract Revenues xxx

(Less) Direct Costs:

Land xxx

Materials xxx

Subs Contract xxx

Other Cost xxx

Sub-Total Direct Costs (xxx)

Direct Margin xxx

Indirect Costs:

Management Charges xxx

Payroll Taxes and Benefits xxx

Transportation xxx

Communications xxx

Equipment xxx

Insurance xxx

Tooling & Supplies xxx

Sub-Total Indirect Costs (xxx)

Gross Margin xxx

Overhead Cost:

Rent (office rent, storage etc.) xxx

Office Staff Payroll & Taxes xxx

Office Operations (Supplies/Postage/Printing) xxx

Marketing xxx

Professional xxx

Utilities xxx

Other Cost xxx

Total Overhead (xxx)

Net Profit xxx

Contract Revenues xxx
(Less) Direct Costs

Equipment rentals 27,100

Insurance - bonds 25,900

Labor 1,346,900

License and permits 39,100

Materials 2,799,100

Subcontractors 1,096,900

Travel 17,900

5,352,900

(Less) Indirect Costs

Depreciation 105,300

Equipment and tool maintenance 53,400

Indirect labor 76,200

Insurance 59,100

Rent 48,000

Repairs and maintenance - building 6,900

Safety equipment 8,200

Taxes - payroll 112,500

Telephone 13,000

Utilities 12,100

Uniforms 4,200

Vehicle expense 62,400

Vehicle lease 12,400

Vehicle repairs 27,800

Worker’s compensation 58,800

670,700

Discounts taken (14,900)

(XXXXXXX)

Gross Profit /Loss XXX

(Less) GENERAL AND ADMINISTRATIVE EXPENSES

Advertising 23,500

Bad debts 8,900

Depreciation 9,400

Education and training 12,300

Insurance 38,400

Legal and professional 8,900

Meals and entertainment 2,200

Office expense 24,100

Salaries 131,100 (XXX)

Net Profit /Loss XXX

 XYZ Construction

Balance Sheet as at March 31, 2015

Current Assets:

Cash $34,618

A/R 49,714

CIP 269,808

Prepaids 14,992

Sub-Total Current Assets $369,132

Fixed Assets: 237,609

Other Assets: 50,000

Total Assets: $656,741

Current Liabilities:

Supplier Payables 27,480

Account Payables 3,062

Accrued Payroll 13,740

Accrued Taxes 5,717

Project Billings 326,745 *Includes Deposits

Current Portion LTD 13,716

Sub-Total Current Liabilities 390,460

Long-Term Debt: 196,662

Equity: 42,305

Current Earnings: 27,314

Total Liabilities & Equity: $656,741

Construction in Process or Progress and is shortened to CIP. This is a current asset and is generally
the total value of all direct costs of construction for all projects combined.

Project Billings or some contractors use the term Progress Billings. This account group is located in
the current liabilities section of the balance sheet. Project Billings also includes deposits from
customers on the contract.
 Hotel Accounting

Xxx Hotel

Department Profit & Loss Account for the year ended, 31st Dec, 2010

(Room Department)

Revenue

Room (Net Revenue) xxx

Others xxx xxx

XXX

Less-Expenses

Salaries & Wages xxx

Employee Benefits xxx

Allowances xxx

Commission xxx

Laundry & Dry Cleaning xxx

Operation Supplies xxx

Employee’s Meats xxx

Others xxx (xxx)

Departmental Profit /(Loss) XXX

 Hotel Accounting

Xxx Hotel

Department Profit & Loss Account for the year ended, 31st Dec, 2010

(Food & Beverage Department)

Revenue
Food xxx

Beverage xxx

Others xxx xxx

xxx

Less-Consumption Cost
Food Cost of Sale xxx

Beverage Cost of Slae xxx (xxx)

Gross Profit xxx

Less-Expenses

Salaries & Wages xxx

Employee Benefits xxx

Allowances xxx

Kitchen Fuel xxx

Laundry & Dry Cleaning xxx

Operation Supplies xxx

Music & Entertainment xxx

Uniforms xxx

Employee’s Meats xxx

Depreciation xxx

Others xxx (xxx)

Departmental Profit / (Loss) XXX

Department အလိုက္ P&L ေတြ ေရးဆြျဲ ပီးမွ Consolidated Profit & Loss A/C ကိုေရးဆြရ
ဲ ပါမယ္။
၀င္ေငြရႏိုင္တဲ့ ဌာနတခုခ်င္းစီရဲ႔ Net Profit ေတြကို စုေပါင္းျပီး အဲ့ထဲမွာ မပါေသးတဲ့ Office Expenses ေတြ General
Expenses ေတြကို ျပန္နႈတ္ရပါမယ္။ေနာက္ထပ္ အခြန္အခ Income Tax ႏႈတ္ေေပးျပီးမွ ဟိုတယ္တခုလံုးရဲ ႔ Net
Income ကိုရရွိပါလိမ့္မယ္။
Hotel Accounting

Consolidated Profit & Loss Account for the year ended Dec, 2010

Particular Room Food & Souvenir’s Other Total

Beverages Shop Dept;

Revenue xxx xxx xxx xxx xxx

Less: Consumption Cost (xxx) (xxx) (xxx) (xxx) (xxx)

Gross Profit xxx xxx xxx xxx xxx

Less: Operation Expenses (xxx) (xxx) (xxx) (xxx) (xxx)

Net Profit before General Expenses xxx xxx xxx xxx xxx

Add: Other Income xxx

Less: General Expenses

(1)Franchise Fees (xxx)

(2) General Insurance (xxx)

(3)Marketing Expenses (xxx)

(4)Professional Fees (xxx)

(5)Depreciation (xxx)

(6) Miscellancous (xxx)

(7) Salaries (xxx)

Net Profit before Taxes XXX

Less: Income Tax (xxx)

Net Income XXXX

 Service Accounting

Xxx Company

Profit & Loss Account for the year ended, 31st Dec, 2010

Revenue
xxx Income xxx

xxx Income xxx XXX

XXX

Less-Cost of Income
XXX xxx

XXX xxx (xxx)

Gross Profit XXX

Less- Other Expenses

Salaries & Wages xxx

Travelling Expense xxx

Allowances xxx

Fuel xxx

Uniforms xxx

Employee’s Meats xxx

General Expense xxx

Depreciation xxx

Others xxx (xxx)

Net Profit / (Loss) XXX