Construction project success hinges on the combined strength of the entire team. Beyond mere number crunching, project success demands communication, collaboration, management, costing, and forecasting.

This Gold Seal-Accredited course offers project management professionals an in-depth understanding of construction financial management by bridging the gap between construction processes and accounting knowledge.

This course is worth 4 credits.

LEARNING OUTCOMES

• Understand the roles and responsibilities of Project Managers and Accountants
• Differentiate between Project Management and Accounting systems
• Get acquainted with Generally Accepted Accounting Principles
• Learn to forecast cash flows, review accounts receivable strategies, and justify fixed asset acquisitions
• Recognize different contract types and their representation in financial reports
• Delve into revenue, cost accruals, and their significance in financial reporting
• Uncover why labor is a pivotal cost in construction and the primary causes of productivity dips
• Decipher standard coding phases and job cost report analysis
• Address challenges in forecasting job costs, managing employees, and establishing a corporate culture
• Navigate the skilled labor shortage, control overheads, and understand risk mitigation
• Create a strong financial awareness in all personnel who attend
• Master the project evaluation process and project close-out documentation

WHY REGISTER?

Participants will unlock techniques to enhance project outcomes using accounting practices, cost controls, and financial reports. This synergy between accounting and Project Management promises a more efficient construction process and a deeper understanding of the construction realm.

WHO SHOULD ATTEND?

• Project managers, Project coordinators, Estimators
• HR Staff, Warehouse Managers, Department Heads
• Gold Seal Candidates, Senior Managers, Owners
• Controllers, Accountants, Administrators
• All individuals who can drive project and company profitability

About the Instructor: Wayne Newell

Wayne Newell has a rich history with companies across Canada, the US, and the Caribbean for over 35 years in financial roles. He’s not just an accountant but a mentor who has guided businesses towards growth. Wayne shares his vast knowledge, techniques, and strategies that have transformed contracting companies. His seminars have reached over 3,500 professionals, making him a seasoned voice in the industry. He earned his CMA designation in 1972.