A quantity surveyor is an individual who calculates the amount of materials required for building work and estimates their cost. They also oversee the contractual and financial elements of construction projects to ensure they are completed within budget. Quantity surveyors can work for either the client or the contractor and may have different titles depending on the country they work in. To become a quantity surveyor, it is usually necessary to earn a degree in a related field like construction management.
Quantity surveyors are a highly respected group of professionals who are often called upon to estimate valuation of construction assets. In fact, they are so skilled at this task that they have been officially accredited by legislation as one of the experts who can provide capital works valuations. While they are not typically thought of as being directly involved in depreciation calculations, their work is essential to determining the ultimate value of an asset and the associated depreciation calculations.
In the course of their work, quantity surveyors are often responsible for developing estimates related to the costs of construction projects. This includes everything from the cost of labour and construction materials to miscellaneous expenses that can impact the overall budget. Once a construction project is complete, this information is then used to determine the overall cost of the construction cost.
Through their deep knowledge of the industry and their expertise in construction estimation, quantity surveyors can be an invaluable resource when it comes to calculating depreciation. They have the ability to help determine the expected useful life of an asset and to determine the appropriate depreciation methods to be used. Additionally, they can provide valuable guidance on the cost of building improvements, renovations, and other related expenses. All in all, their work is essential to ensuring that depreciation calculations are handled correctly and accurately.
