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BQS659 Final Account Work Example

This document provides information needed to prepare a final account statement and determine the final certificate amount for a 10-story office building project: 1) It includes details of the construction contract, payments made to date, variations in work, and accepted tender amounts for prime cost sums. 2) A draft final account statement is to be prepared based on a contract sum of RM 8,112,000, a practical completion date of 17 September 2019, and payments made of RM 6,300,000 to date. 3) The recommended amount to be certified in the final certificate under the PAM 2018 contract is also to be determined.

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Irsyad Emir
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709 views10 pages

BQS659 Final Account Work Example

This document provides information needed to prepare a final account statement and determine the final certificate amount for a 10-story office building project: 1) It includes details of the construction contract, payments made to date, variations in work, and accepted tender amounts for prime cost sums. 2) A draft final account statement is to be prepared based on a contract sum of RM 8,112,000, a practical completion date of 17 September 2019, and payments made of RM 6,300,000 to date. 3) The recommended amount to be certified in the final certificate under the PAM 2018 contract is also to be determined.

Uploaded by

Irsyad Emir
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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CONFIDENTIAL AP/BQS659

UNIVERSITI TEKNOLOGI MARA

CENTRE OF STUDIES FOR QUANTITY SURVEYING


FACULTY OF ARCHITECTURE PLANNING AND SURVEYING

PROFESSIONAL PRACTICE III (BQS659)

TUTORIAL 5 – FINAL ACCOUNT & FINAL CERTIFICATE

QUESTION

The following are particulars of a newly completed project for the construction and
completion of a 10-storey office building.

A PARTICULARS OF CONTRACT

Contract Sum RM 8,112,000.00


st
Date of Possession 1 September 2017
Date for Completion 31st August 2019
th
Date of Practical Completion 17 September 2019
Extension Of Time Nil
Liquidated and Ascertained Damages RM 1,700.00/day
Amount paid to date RM 6,300,000.00
Performance Guarantee Sum RM 405,600.00
Type of Contract PWD Form 203A (Rev. 1/2010)
(fluctuation of price clause deleted)

B SUMMARY OF CONTRACT SUM

ITEM DESCRIPTION AMOUNT (RM)


1 Preliminaries 386,300.00
2 Administration Block 6,550,500.00
3 Guard House 35,600.00
4 External Works 220,000.00
5 P.C. & Provisional Sums 919,600.00
TOTAL 8,112,000.00

C PRIME COST SUM

ITEM DESCRIPTION AMOUNT ALLOWED


IN BQ (RM)
1 Curtain walling 220,000.00
Profit 2% 4,400.00
Attendance 6,000.00
2 Air conditioning installation 180,000.00
Profit 2% 3,600.00
Attendance 5,000.00
3 Electrical installation 80,000.00
Profit 2% 1,600.00
Attendance 2,000.00
4 Lift installation 350,000.00
Profit 2% 7,000.00
Attendance 7,000.00
CONFIDENTIAL AP/BQS659

UNIVERSITI TEKNOLOGI MARA

C PRIME COST SUM (CONT’D)

ITEM DESCRIPTION AMOUNT ALLOWED


IN BQ (RM)
5 Fire fighting system 50,000.00
Profit 2% 1,000.00
Attendance 2,000.00

D PROVISIONAL SUM

ITEM DESCRIPTION AMOUNT ALLOWED


IN BQ (RM)
1 Built in Furniture 100,000.00
2 TNB Sub-station 75,000.00
3 Landscaping 150,000.00
4 Contingencies 100,000.00

E SUMMARY OF VARIATIONS

i) Building Works

ITEM DESCRIPTION OMISSION (RM) ADDITION (RM)


1 Ceiling Finishes 33,500.00 20,500.00
2 Floor Finishes 15,300.00 25,300.00
3 Doors and Windows 30,600.00 45,600.00

ii) External Works

ITEM DESCRIPTION OMISSION (RM) ADDITION (RM)


1 Water Reticulation 13,500.00 25,500.00
2 Surface Water Drainage 12,500.00 25,500.00
3 Hardstanding 15,500.00 18,500.00

iii) Prime Cost Sums

ITEM DESCRIPTION OMISSION (RM) ADDITION (RM)


1 Curtain Walling
Accepted tender figure:
RM 195,300.00
V.O. No. 1 25,500.00 38,500.00
2 Air-Conditioning Installation
Accepted tender figure:
RM 155,200.00
V.O. No. 1 15,000.00 25,500.00
3 Electrical Installation
Accepted tender figure:
RM 72,500.00
V.O. No. 1 12,000.00 15,500.00
V.O. No. 2 10,500.00 13,500.00
CONFIDENTIAL AP/BQS659

UNIVERSITI TEKNOLOGI MARA

E SUMMARY OF VARIATIONS (CONT’D)

iii) Prime Cost Sums (Cont’d)

ITEM DESCRIPTION OMISSION (RM) ADDITION (RM)


4 Lift Installation
Accepted tender figure:
RM 330,300.00
No variation 0.00 0.00
5 Fire Fighting System
Accepted tender figure:
RM 35,000.00
No variation 0.00 0.00

iv) Provisional Sums

ITEM DESCRIPTION AMOUNT ALLOWED


IN BQ (RM)
1 Built in Furniture 88,800.00
2 TNB Sub-station 58,500.00
3 Landscaping 125,000.00

a) Based on the information provided, prepare a draft Statement of the Final Account for
the project.
(20 marks)

b) What would be the recommended amount certified in the Final Certificate if the
contract was let under the PAM 2018 Standard Form of Contract?
(5 marks)

END OF QUESTION PAPER

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