The research further showed that there is no statistically significant difference in the opinions of different categories of contractors regarding the extent of risk occurrence and impacts on cash flow forecast. The research showed that the order of extent of risk occurrence is different from the order of impact in case of occurrence. This suggests that further work needs to be done to measure the impact more objectively on a ratio scale so as to provide an avenue for a more quantitative measure of risk impacts on cash flow forecast.
This objective is the next focus of this study. Based on the finding, it is evident that the knowledge of the identified significant risk factors provides invaluable information to the construction contractor as regards what risk variables to focus attention on in cash flow forecasting. The paper makes an original contribution of exploring the extent of risk occurrence and its impact on construction cash flow forecast from an objective point of view rather that the usual subjective point of view.
The epistemic nature of the investigation makes the finding of practical value to the construction contractor in cash flow forecasting. Odeyinka, H. Emerald Group Publishing Limited. Further scientific investigation is recommended with focus on qualitative factors such as relation among construction team, construction disputes, communication, plant acquisition decision etc. In addition, the study focused on the most reputable and established D1 contractors and subsequent studies are required to include a broader sample of construction contractors that would include small to medium enterprises and sole traders as well as the inclusion of more developing nations.
K, Proverbs D. ISBN: Journal of Engineering Research and Application, Vol. I and Maged M. ISSN: ISSN Business Dynamics in the 21st Century, pp And Skitmore R. ISBN 1 8. All rights reserved.
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Bausman D. Bolek M. Buertey J. Callahan J.
Financing Construction Cash Flows And Cash Farming
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Navulla D. Nguyen L. Ntiyakunze S. Odeyinka H. Ofori G. Ofori-Kuragu J. Olatunji A. Osei V. Park H. Ramachandra T. Sambasivan M. Singh N. Shubita M.
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Wasi, D. Yong Y. Many expense items are also cash outflow items. The purchase of livestock feed cash method of accounting is both an expense and a cash outflow item. The timing is also the same if a check is written at the time of purchase. However, there are many cash items that are not income and expense items, and vice versa. For example, the purchase of a tractor is a cash outflow if you pay cash at the time of purchase as shown in the example in Table 1.
If money is borrowed for the purchase using a term loan, the down payment is a cash outflow at the time of purchase and the annual principal and interest payments are cash outflows each year as shown in Table 2. The tractor is a capital asset and has a life of more than one year.
Financing Construction : Cash Flows and Cash Farming
It is included as an expense item in an income statement by the amount it declines in value due to wear and obsolescence. The cost of depreciation is listed every year. Depreciation calculated for income tax purposes can be used. However, to more accurately calculate net income, a realistic depreciation amount should be used to approximate the actual decline in the value of the machine during the year.
In Table 2, where the purchase is financed, the amount of interest paid on the loan is included as an expense, along with depreciation, because interest is the cost of borrowing money. However, principal payments are not an expense but merely a cash transfer between you and your lender. A cash flow statement is only one of several financial statements that can be used to measure the financial strength of a business. Other common statements include the balance sheet or Net Worth Statement and the Income Statement , although there are several other statements that may be included.
These statements fit together to form a comprehensive financial picture of the business. The balance sheet or net worth statement shows the solvency of the business at a specific point in time. Statements are often prepared at the beginning and ending of the accounting period i. January 1. The statement records the assets of the business and their value and the liabilities or financial claims against the business, i.
The net worth reflects the current value of investment in the business by the owners. The income statement is a dynamic statement that records income and expenses over the accounting period.