Jan 13, 2025
Quick Blast Cass Calloway for @/sirtimothy97
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Quick Blast Cass Calloway for @/sirtimothy97
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QBCC License - Rocksmith Construction
Best Construction Team at Your Bay Now!
A building project on the scale of your rock wall is a major investment in your home. Unfortunately, hiring the wrong person can result in it all going wrong.
So how do you know you are hiring the right person for the job? The first step is to ensure that the people you hire are suitably qualified and licensed. Connect with us now to know more!
$18.2M awarded to contractors via Building Industry Fairness Act
$18.2M awarded to contractors via Building Industry Fairness Act
17 July 2019
More than $18.2 million in disputed payments has been awarded to unpaid building and construction workers in less than six months since changes took effect to make adjudication easier to access for subbies.
Since February, 124 adjudication decisions have been handed down under the Building Industry Fairness (Security of Payment) Act 2017 (BIF Act), which implemented a number of…
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Accounting for revenue from construction contracts
Accounting for revenue from construction contracts
For those entities preparing general purpose financial reports, appropriate consideration needs to be made for the interpretation and application of AASB 15 (IFRS 15) – Accounting Revenue from Contracts with Customers.
AASB 15 (IFRS 15) establishes a comprehensive framework for recognition of revenue from contracts with customers based on a core principle that an entity should recognise…
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Accounting for line of credit facilities If you have a line of credit facility, your accountant should review the terms and conditions on the facility to determine the correct classification as current or long term.
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Assets
Net Tangible Assets
Applicants/licensees must have sufficient Net Tangible Assets to meet the minimum requirements. Combined with the defined amount of a Deed of Covenant and Assurance, the Net Tangible Assets must be sufficient to cover the actual revenue being carried out. Applicants/licensees cannot have a negative Net Tangible Asset position. Entities with a negative NTA position cannot…
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Frequently asked Questions
The topics included are a selection of frequently asked questions designed to provide you with answers to common questions and oversights.
Who is a Qualified Accountant to complete MFR Reports?
The term Qualified Accountant is not defined in the Queensland Building and Construction Commission (Minimum Financial Requirements) Regulation 2018. The QBCC has adopted the same definition for…
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Related entity loans The Qualified Accountant is to view the balance sheet (at a minimum) of the related entity, to determine collectability of the related entity asset loan owing to a licensee.