Can I use music for my videos without copyright? If I create a commercial to sell my courses, will there be no problems with the law or will I be forced to remove the commercial or will monetization not be removed?...Read More
I would like to ask a question how the calculation will be performed for rate revision as a result of quantity increment of one pay item above the limit set in the contract (the rate revision satisfy the requirements). To make it clear, the increased quantity was rock excavation quantity of roadwork, so the contractor requests an increment of unit price for this pay item stating that cost of explosives are increased.can you help me, please??...Read More
Hello! We are windows supplier and we are working with windows installer which is hired by GC on the commercial job in Washington DC. As we are suppliers to subcontractor, according to Washington DC Lien law we do not have Lien rights. https://www.levelset.com/mechanics-lien/washington-dc-lien-law-faqs/ We would like to clarify, could the installer transfer Lien right to us? We could document this transfer in the agreement, if that would be legit. If you know any articles about this topic we would appreciate if you could share links. Thank you...Read More
We are researching information about Materialman’s Lien for project in Washinton DC. I found this article about it, but Washington DC state is not specified.
We are materials supplier, and we fabricate windows specifically for each project. The client can’t accept windows at the moment, and we are storing them in a warehouse for 76 days.
We would like to clarify regarding Lien option on specifically fabricated materials, what are the due dates and documents we would need to submit in case client will not take windows from warehouse.
Thank you!...Read More
Good morning Mr David,
Trust this mail meets you well.
I am currently having issues with our external auditors on recognition of revenue in the books of our company that is into real estate development.
Here is the summary, the modus operandi of the business is to buy a virgin land, develop units of flats on the same and sell the same to subscribers.
In the books of the company, deposits made by the subscribers for any ongoing project is recognized as a liability while the development cost on the same is treated as an inventory pending completion of the project.
So, in any financial year that a project is completed, the Subscribers deposit in the SOFP is debited while revenue in the SOPL is credited with the total amount received. Also, the Development cost (as an inventory in the SOFP) is credited while development cost in the SOPL is debited.
At the moment ,we are having difficulty in applying IFRS 15 in recognizing revenue to be reported for the period ended 31st Dec 2021 because the projects are still ongoing.
The following are my questions:
Is IFRS 15 applicable in this scenario.
If yes, how best can we resolve this?
If No, what other options are available for us to be able to recognize revenue without violating the standard.
I will appreciate your prompt response and professional advice on this .
Sunday Babajide...Read More
We are currently working on a job in Washihington that has not funded for December and my boss wants to know if we are able to file a Construction Lein . The Contractor is located in Arlington Va....Read More
we are a material supplier on a Wash. DC project. GC has not paid and we need to file lien. We last supplied the project 8/17/21. One requirement in DC seems to be a contractor's license. as a materialman we would not obtain one. Does the req> reference the GC's license? If so, how do we obtain the number or copy of it.
On a Lump Sum contract, the Specification lists for UPS battery type A or B is acceptable.
Who decides which?
I.e. Is it the Contractor who can benefit when choosing the lower price product.
or is it the Engineer, who expects that the Contractor will have prices for the most erroneuos option in all cases, to cover himself and benefit if low price option is required
Danni ...Read More