RBQ glossary: letter B

Balance sheet (bilan)

The financial statement that shows, at a given date, what the business owns (assets), what it owes (liabilities) and the owners’ share (equity). It rests on the equation assets = liabilities + equity. Assets and liabilities are split into current items, realized or settled within the year, and long-term items. It is also called the statement of financial position.

See also: Equity (capitaux propres, avoir), Working capital (fonds de roulement), Financial statements (états financiers), Income statement (état des résultats)

Administration examSource: RBQ, Administration competency profile, element 1 (French)

Bid depository (BSDQ)

A private non-profit body created by the ACQ, the CMEQ and the CMMTQ that receives tenders from specialized contractors and forwards them to the recipient contractors, general or specialized. Tenders go through an electronic system, the TES, and follow the Tendering Code that every contractor using the BSDQ commits to respect. The aim is healthy competition and comparable tenders.

See also: Tendering Code (Code de soumission du BSDQ), Tender security (garantie de soumission), CMEQ and CMMTQ, Tender (soumission)

Project and site management examSource: BSDQ, our vocation

Budget variance (écart budgétaire)

The difference between a budgeted amount and the actual result for the same item, for example a job’s labour cost. An unfavourable variance flags an overrun to explain, such as an estimate that was too low, lower productivity or higher prices. Variance analysis is used to correct forecasts and management during the year.

See also: Forecast budget (budget prévisionnel), Income statement (état des résultats), Plan, organize, direct, control (PODC)

Administration examSource: RBQ, Administration competency profile, element 6 (French)

Building Act (Loi sur le bâtiment)

The Québec statute aimed at the quality of construction work and buildings, public safety, and the qualification, integrity and solvency of contractors and owner-builders (s. 1). It establishes the RBQ. Chapter IV governs vocational qualification and licences, and Chapter V financial guarantees, including the guarantee plan and the bond. It is one of the documents provided at the administration exam and the project and site management exam.

See also: Régie du bâtiment du Québec (RBQ), Contractor’s licence (licence RBQ), Guarantee plan (plan de garantie), Documents provided (open book)

Administration examHow to get an RBQ licenceSource: LégisQuébec, B-1.1, art. 1

Bureau d’évaluation médicale (BEM)

A body established by the LATMP (s. 216) that settles a medical disagreement between the health professional in charge of the worker and a professional designated by the employer or by the CNESST. It rules on the diagnosis, consolidation, care, permanent impairment and functional limitations (ss. 212 and 221). An employer who contests sends its professional’s report to the CNESST within 30 days of receiving the certificate or report in question (s. 212).

See also: Health professional in charge (professionnel de la santé qui a charge), Review of a CNESST decision (révision administrative), Administrative Labour Tribunal (Tribunal administratif du travail)

Safety management examSource: LégisQuébec, A-3.001, art. 216

Business corporation (société par actions)

A legal person distinct from its shareholders, constituted for example under Québec’s Business Corporations Act. Its acts bind only itself (art. 309 of the Civil Code), so shareholders normally risk only what they invested, hence the “inc.” or “ltée” in its name. For an RBQ licence, an officer acts as guarantor.

See also: Sole proprietorship (entreprise individuelle), General partnership (société en nom collectif), Equity (capitaux propres, avoir), Guarantor (répondant)

Administration examThe RBQ guarantorSource: LégisQuébec, S-31.1, art. 20

Business plan (plan d’affaires)

A document that sets out the business’s strategy and the action plan to reach its objectives: the business and its management, market and competition, operations, human resources and financial forecasts. It is used to obtain financing, but also as a management tool to track results and revise as needed.

See also: Plan, organize, direct, control (PODC), Forecast budget (budget prévisionnel), Financial statements (états financiers)

Administration examSource: RBQ, Administration competency profile, element 9 (French)

Definitions written by RBQexam from the statutes and the RBQ’s pages, without reproducing their text. If in doubt, the official source prevails.