Construction Contract Certificates Samples †MyAssignmenthelp.com

Question: Discuss about the Construction Contract Certificates. Answer: Certification is a very important procedure before beginning any working schedule. Most people, however, are not aware of the details of issuing a certificate. This article will help us understand through various cases and incidents how to issue a certificate and the consequences if one does not. It also helps us understand the various situations where one might need to issue a certificate and the conditions under which the courts consider it valid. Certificates are extremely significant for any contract, this article will show us how. Construction contract certificates are used to mark important events by independent third parties, like the certification of completing all parts of a given work, providing additional time, requiring correction of imperfections etc. In a lot of cases it is used to bring about further affairs, like the interim or absolute salary of the employer. Certification is thus not only important in building contracts, but also in the relation of ones salary. Since the certificates arise from definitive contract details, the validity of the same maybe subjected to challenges if the rightful needs of certification is unfollowed in any case. In a particular case, Builder, Daisy (LackaDaisy) Black, towards the decided finalization date, decided to print an affidavit of non-actualization to the employer, Slowcoach- Dullard Limited (S-DL), obeyingamendment 2.31 of JCT SBC/Q 2016. A letter without any date was issued by the Daisy Black to the employers MD minus referring to any contract clauses insinuating the chances of amendsbeing reduced from the overall cost. Dispute followed questioning if and to which level (if at all) of discharged and detectedbreakages are compensated. S-DL argued Daisy Blacks document was missing a non-actualization certificate obeying JCT SBC/Q 2016 since it is deprived of the required arrangement, body and purpose. The employers reverted by citing the Halliday Construction Limited and others vs. Gowrie Housing Association Limited case which was similar to this and after some initial friction, the documents were held lawful by the judge. Unlike the previous one, in Token Construction vs. Charlton Estates Limited in 1973, 1B.L.R. 48, the relevance of a document as an affidavit was inconclusive and hence not held valid in the court[1]. It is hence, advised for the endorser always use the term certify or ascribe to the document as certificate, so all confusions can be done away with. Minor issues are usually ignored if the substance of the affidavit is concrete and neither parties have ever suffered negative consequences cause of that. Invalid certificates can be re-issued maintaining the same substance unless specifically permitted to make modifications[2]. Though the architects document didnt confirm the norms to be a lawful certificate and the contractor was justified partially, the contractor being authorized to any delay or excess cost will be reason the Contractor is responsible for the venture extensions. Here, the architect can re-issue a proper certificate, referring to JCT SBC/Q 2016 amendments affirming the neglect of the employer and penalty for the same. The aim and conclusion of certification must be made explicit with reference to applicatory conditions of the project. Bibliography Gerber, P. and Ong, B.J., 2014. Best Practice in Construction Disputes. Hughes, W., Champion, R. and Murdoch, J., 2015.Construction contracts: law and management. Routledge. Kiu May Construction Co. Ltd. v. Wai Cheong Co. Ltd. and Another (1983) 29 B.L.R. 137 Mason, J., 2016.Construction law: From beginner to practitioner. Routledge. Ter Haar, R., 2017.Remedies in construction law. Taylor Francis.

Financial Management for Cornerstones of Managerial Accounting

Question: Discuss about theFinancial Management for Cornerstones of Managerial Accounting. Answer: Financial management Maximization of shareholder wealth vs. Notion of Maximization of Profit for Business Companies Shareholders are referred to as individuals who own shares in the company and thus are entitled to receive profits. The business companies should emphasize on creating maximum wealth for shareholders. This is possible when business managers focuses on promoting long-term performance of the company. The shareholders ware the owners who appoint business managers to act on their behalf for carrying out business operations. The concept of wealth maximization for shareholders states that a business manager should not only emphasize on creating profits fro shareholders but promoting its sustainable growth and development. As such, the main focus should be placed on increasing sales, expanding the market share and carrying out the operational activities of the business in the sustainable manner. The maximization of wealth refers to creating large value for shareholders so that shareholders are able to realize continuous profits from the business (Shim and Siegel, 2008). The business mangers by placing focus on maximizing wealth for shareholders are intending to increase the stock process. As such, the increase in the stock prices subsequently leads to a rise in the wealth of the shareholders. This in turn enhances the value of the firm and net worth of the shareholders. The business managers are only the representatives of the shareholders and therefore it is possible to the occurrence of conflict between owners and managers in the process of wealth maximization. This is known as agency problem because owners are concerned with driving the long-term performance whereas manager can focus on taking such actions that can result in improving their own performance. Thus, in the event of occurrence of conflict it should be resolved quickly for reaching to the ultimate goal of wealth maximization. Thus, it is extremely important for manager to align their personal objective with the braid objective of the company for driving the maximization of wealth for current shareholders. On the other hand, the notion of profit maximization for shareholders is a short-term objective of the financial management. This is because it does not take into account the concept of risk and return as that in the wealth maximization. The emphasis given by the business managers only on increasing profits will not promote the sustainable growth and development of a business company (Chiu, 2012). However, the focus on wealth maximization for shareholders will ultimately lead to increase in profits for the shareholders. Therefore the notion of profit maximization is covered under the concept of wealth maximization and so the business managers should prioritize wealth maximization. For example, an increase in price-earning ratio is an indicator of wealth maximization for companies whereas profitability ratios such as gross profit indicates the short-term growth potential of a company. For example, if a Company A has higher stock price than B even if it has lower profitability ratios, the also investor should select the company A for investment purpose. This is because price-earning ratio indicates the potential for future growth earning of the company and thus indicates its long-term performance (Shim and Siegel, 2008). Evaluation of Mutually Exclusive Projects using the IRR and NPV Approaches The mutually exclusive projects refer to set of projects out of which only one project can be selected for the investment purpose and thus the acceptance of one indicates the rejection of other. The feasibility of a project can be assessed through the use of capital budgeting techniques such as NPV and IRR. Thus, if there are two potential projects present for investing purpose, them the project manager should assess the feasibility of each project through the use of capital budgeting techniques. The project managers often incorporates the use of Net Present Value (NPV) and Internal Rate of Return (IRR) are the most common methods that are used for ranking projects in relation to the present value and future cash flows. The Net Present Value (NPPV) method is regarded as the method of ranking the projects for investment purpose through calculating the present value of future net cash flows. The method takes into account the concept of time value of money discounted at the marginal cos t of capital. Therefore, if the NPV of the project is zero, then the cash flows are adequate for meeting the required rate of return and if it is positive them there is sufficient cash flows to pay back the investment incurred and return to the shareholders. However if the NPV is negative, then the project must be rejected because it is not regarded to be profitable in the future context (Heitger, Maryanne and Hansen, 2007). On the other hand, the method of Internal Rate of Return (IRR) is a method of ranking the projects on the basis of calculating the discount rate at which the present value of the future cash flows equates the project cost. For a project to be acceptable on the basis of IRR method, the discount rate must exceed the cost of capital of the project. However, it is regarded that the methods of NPV and IRR provides contradictory results in evaluation of the feasibility of mutually exclusive projects that varies in terms of size and differences in the time of cash flows. NPV provides absolute measure and therefore it will rank the mutually exclusive projects on the basis of adding more profits irrespective of the original investment. However, IRR is a relative measure that ranks the projects on the basis of realizing higher return on investment irrespective of the total value gained. NPV is attributed to be a better method for evaluating them mutually exclusive projects as provides more rea listic results on the basis of profitability and wealth maximization of shareholders. On the other hand, IRR method does not provide realistic results which limit its use during selection of mutually exclusive projects (Brigham and Houston, 2012). For example, a company having a budget of $50,000 and has options of selecting either project A, B and C. If the projects A and B cost $40,000 and project C costs $10,000then project A and B are regarded to be mutually exclusive. Thus, as such, the project managers is recommend to adopt the use of NPV method for ranking the project and accept the project having higher NPV. If roger earn $10000 per year up to 10 years Years Cash inflow PVF @ 8% PV 1 $ 10,000.00 0.926 $ 9,259.26 2 $ 10,000.00 0.857 $ 8,573.39 3 $ 10,000.00 0.794 $ 7,938.32 4 $ 10,000.00 0.735 $ 7,350.30 5 $ 10,000.00 0.681 $ 6,805.83 6 $ 10,000.00 0.630 $ 6,301.70 7 $ 10,000.00 0.583 $ 5,834.90 8 $ 10,000.00 0.540 $ 5,402.69 9 $ 10,000.00 0.500 $ 5,002.49 10 $ 10,000.00 0.463 $ 4,631.93 Present of cash flows $ 67,100.81 It is better that Roger receives $100000 today as if he earns $10000 per year up to 10 years it will provide him loss of $32899.19 Debra wins $200,000 in a lottery. She takes only $20,000 in cash and invests the balance at a rate of interest of 10% pa with the understanding that she will receive 160 equal monthly payments with the first one to be made in 2 years. Find the size of the payments. Solution B: Value of total investment at year 0 (current time) = $180000 Value of total investment at the end of year 2 = $216000 (calculated on simple interest basis) Size of payment = (0.0833*$216000) /[1-(1+0.0833)-160] (Shim Siegel, 2008) = $1442.18 Nominal Rate of Firm A 10% per annum It is compounded quarterly Number of times compounding 4 times Effectives interest rate of firm A Firm A Nominal interest rate = 12 % p.a. EAR = (1+12%/4)4 -1 EAR = (1.125) -1 EAR = 0.125 EAR = 12.5 % p.a. So Firm B needs 12.5 % Effective interest rate to match the Firm A Effective rate for firm B =12.5% Compounded monthly Number of times compounding = 12 times Nominal interest rate: 12 *[(1+0.125)1/12 - 1] =11.83% References Brigham, E. Houston, J. (2012). Fundamentals of Financial Management. Cengage Learning. Chiu, P. (2012). Looking Beyond Profit: Small Shareholders and the Values Imperative Corporate Social Responsibility. Gower Publishing, Ltd. Heitger, D., Maryanne, M. Hansen, D. (2007). Fundamental Cornerstones of Managerial Accounting. Cengage Learning. Shim, J. Siegel, J. (2008). Financial Management. Barron's Educational Series.

Morrisons Swot free essay sample

Richard Hammond, use of familiar face to advertise the company in a celebrity obsessive society. †¢Emphasis on procuring and distribution of quality British product at competitive price compared to competitors †¢Acquisition of new stores and expansion of the company, steady rise in company profits in recent years Weakness: †¢Company focus mostly on food products while the market share for daily goods, accessories and pharmaceutical are being over taken by competitors . i. e. Tesco, Asda †¢The economic crisis- means possible customers cannot afford to spend their income quickly and will prefer for a better value before making sale †¢The company as many other major supermarkets are essentially working in a negative working capital meaning its always in debt †¢Company lagging behind in implementing its digital services to its customers compared to the major competitors such as Tesco who’ve had their online service operation for several years now †¢Globalization means cheaper and equally quality product can and are being sold by the stores competitors at competitive price Opportunity: †¢Branching out into other business ventures like pharmaceuticals, opticians, electronics, entertainment goods, clothes and many more †¢Focusing more on customer satisfaction and ease of convenience in order to portray the company in a positive manner †¢Special deals and offers on common consumer goods as in food stuff hygiene, during such economic instability to present solidarity and understanding towards the customers Threats: Adverse weather conditions such as snow storms and heavy rain, etc over major sales season may result in poor profit margins †¢ Due to external geo-political pressure i. We will write a custom essay sample on Morrisons Swot or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page e. new rules and regulations brought in by the E. U may result in heavy loss of possible income †¢Recent economic crisis means the loss of hundreds of thousands of job and business loss, directly affecting the spending power of would be customers who may look for cheaper alternatives to a supermarket †¢Competitors from major European supermarket Losing valuable suppliers and fianancial aid from banks due to the economic crisis

Graph Analysis - A Useful Essay Writing Tool

Graph Analysis - A Useful Essay Writing ToolA graph analysis sample essay is a tool to be used when students are required to write their own essay for school or any academic writing. Graph analysis basically examines information in a graphical form, allowing students to visualize what they are writing about.With graph analysis, the students can see and understand data in graphs rather than just words. They can understand how certain variables or events affect other variables or events, and therefore why the data is being presented in a certain way.The most interesting thing about using graphs to analyze data is that you are able to compare two different variables at the same time. You can look at two different situations that may exist simultaneously and then see what the influence the other one has on the other. For example, if one variable is high and the other is low, you can see what would happen if the two variables were combined.This graph analysis is what makes graph writing e asier and more meaningful for the student. It is not necessary to use all of the equations to make a graph, but many times you will find graphs that contain specific mathematical calculations and other complicated formulas, which makes the graph writing more complex and difficult.Students also do not have to rely on what they know about formulas when they are using graph analysis. Students can create their own equations to use, which makes it even more exciting. It also means that the graph writing is more personal and allows the student to come up with his or her own information to support their argument.There are many ways to use graph analysis, but it can also be used in a number of ways in essay writing. For example, a graph analysis can be used to compare and contrast two different people, events, ideas, etc. Graphs can also be used to help the reader understand what another person's point of view or opinion is. Many students are able to easily use the math to create their own graph analysis, but this can be challenging for those that are not a math or science enthusiast. Graphs can be used with any type of essay, not just a mathematical analysis.In conclusion, graph analysis is used when students need to study or write an essay for school or any school related paper. Graph writing can be quite complex, but the students can come up with their own solutions to help them express themselves better.

Essay Sample on Art and Architecture A Rhetoric Analysis

Essay Sample on Art and Architecture A Rhetoric Analysis Essay on Rhetoric Analysis on Art and Architecture: Art can be looked at as the quality, expression, and production as per aesthetic principles of what is appealing or even of more than everyday significance. Therefore, art does not only involve drawing or painting or other related activities. In essence, art amounts to our expression of innate creativity- language of the soul. It is a creative act and a spiritual journey (Naiman, 2010). Thus it, is practically an expression of the soul making it more than just a mere presentation. This could be the reason why it has continued to take new dimensions over the centuries- each person has his own reflection – and it is true that people will interpret a piece of work of art differently. Each and every artist has a something inside him or her that is calling out to be expressed. Thus, in art, artists should feel free to express their inner feeling. It is worth noting that there exist no rules for expressing the needs of one’s soul. In practice, an artist goes beyond convention and the product is always beautiful. It is been noted it is not that artist are special persons; but that each individual is a unique kind of artist. In particular, art is a way to express each person’s inborn creativity. As a result, the ultimate creativity in art comes out of the energy of wisdom and love; some would refer to this as the source or divine. Artists play with their work so as to enhance the form or idea through combining, assimilating or synthesizing a range of elements. One surrenders control of the outcome and at such an instance, the work of art paints itself and the design comes out by itself. As such, the work of art involves ecstatic experiences which ensure that the process is complete. As a consequence, artists should feel gratitude and relief for creative expression that flows within them letting it lie bare for the next cycle. According to Jung (2005), creativity is not all about drawing and painting since in art it can manifest itself in various ways. For instance, it is natural that we create as a result of our tutor’s humiliation but this does not translate into that we are uncreative. Cr eativity is within each us and it could be that when we were young, we received inadequate reinforcement for our creative powers; thus when we grow up we become reluctant to allow our creative urges bubble up from within. In art, there should be no fear as this is a major block to creativity –art itself. Fear to make a mistake, to look foolish or of the unknown inhibits work of art within us. The worry about how good we are inhibits the creativity or expression within us. Creativity in and outside art takes varying forms; one could make creativity within express itself via decorating, gardening, business entrepreneurship or any other way (Storck, 2011). Thus, creativity in art should involve and be expressed through fresh thinking, acting on new ideas and seeing things in new ways. Work of art –and artists- should be free; driven by innate creativity. In a conclusion, expression of creativity is living my passion- being an artist in the entire areas of life while making my whole life creative (a work of art). Art includes exploration of whispers in the artist’s heart and hearing the call- creativity. At CustomWritings.com you can buy essay paper on any Art related topic. Professional writers will write a custom essay or research paper for you!

Forgotten Wars; Operation Blue Star Essay Example | Topics and Well Written Essays - 3500 words

Forgotten Wars; Operation Blue Star - Essay Example Large scale protests by the Sikh community all over the world followed. On 31st October 1984, Mrs. Indira Gandhi, the then Prime Minister of India was assassinated by her own Sikh bodyguards. Frenzied mobs attacked the Sikh Community in Delhi and some other northern states and more than 8000 Sikhs lost their lives. The operation blue star and the Sikh massacre following Mrs. Indira Gandhi’s assassination have left indelible scars on the psych of the Sikh community. Though the incidents are fresh in the Sikh minds they are totally forgotten by the authorities who are responsible for punishing the culprits and upholding justice. The Sikhs are left to wonder whether are part of India at all. Altogether, the event ‘Operation Blue Star’ has been overlooked or under-studied within war studies. It is relevant to trace the historical background of the Sikh race, their struggles and the events leading up to their current plight. History has not been kind to the Sikh community. They always had to fight for their survival. In 17th and 18th centuries they had to fight many wars, mostly with the Moghul army. According a website data, more than 20,000 Sikhs were massacred by Afghan invader, Ahmed Shah’s soldiers on 5th of February 1762. Sikhs call this incident ‘Wadda Ghalughara’, which means ‘the great holocaust’ (All About Sikhs). Their ten Gurus guided them and led them in theses wars. The Sikhs have always been enthralled by the sacrifice, courage valour and dignity of their Gurus. During the years 1845 to 1846, the British troops defeated the Sikh army and took control of the state. The British rightly judged that the Sikh were like wounded lions and would not take it lying low. So they adopted a strategy of pacification. They allowed the Sikhs to practice their religion freely. They recruited Sikhs into the British army allowing them to retain all the

Personal Statement for LSE MSc Finance Example | Topics and Well Written Essays - 1000 words

For LSE MSc Finance - Personal Statement Example My decision to study mathematics in my undergraduate level was motivated by the fact that I always had a flair for the subject. I always regarded mathematics highly as its knowledge is also applied in other subjects such as physics and chemistry. I like solving mathematical problems that the subject provides. For me, mathematics is quite fascinating as it seems boundless and as such allows considerable choice for additional research. My main objective of studying the subject was, therefore, to learn to think and look at things differently, from a different angle than people doing degrees in humanities. While pursuing my undergraduate degree at the University of Edinburg, my mathematical skills have been modelled in a way that I am now in a position to see many things from a mathematical perspective. Some of the courses that have had a significant impact in my mathematical career growth include financial mathematics, Stochastic Modelling and Introduction to Number Theory. I am also doing a project at the moment that stochastically analyses are queuing at call centres. Having almost completed all the branches of the syllabus, I believe I am well-rounded and ready to further my education by pursuing Master of Science degree in finance. Throughout my two final years at the university, my interest in finance and financial analysis was growing each day. I want to get an opportunity to study at one of the greatest universities in UK and worldwide. We are living in a world that, unlike before, continues to experience unprecedented financial and economic meltdown. The recent crises in the global markets and the effects of globalization especially in emerging markets have necessitated a deeper understanding of the subject of finance. This is largely because through the finance knowledge; we can be able to build more robust systems and