On the assumption that the ideal gas law is applicable, the humidity of a gas may be expressed in terms of its total pressure (p) and absolute temperature (T), the molecular weights of the components and the partial pressure (pv) of the vapor.
When compared to cash accounting, the accrual method provides a more accurate picture of the economic condition of a construction project. In the cash method, you book revenue when you receive it and expenses when you pay them. While simple, the cash method doesnât tie revenue to the expenses that helped generate the revenue, so it is difficult to figure the profitability of different operations. The accrual method solves this problem.
While the GMP contract is popular in the construction industry, it isn't the only type of legal arrangement used in building projects. A cost plus contract is similar to a GMP agreement in that compensation is based on costs incurred and a set fee. The only difference is that a cost plus contract may not include a ceiling or maximum price. A fixed-price contract (also called a stipulated price or lump-sum contract), on the other hand, sets the contractor's compensation at the outset of the project.