Construction project success hinges on the combined strength of the entire team, including accountants. Beyond mere number crunching, project success demands communication, collaboration, management, costing, and forecasting. This course offers project management professionals an in-depth understanding of construction financial management by bridging the gap between construction processes and accounting knowledge.
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 labour 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 labour 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
Benefits:
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
Course Format:
- Virtual instructor-led training (live and online).
- This course is facilitated by the instructor via Zoom. Access information from the instructor will be provided to you in advance of the training.
Course Requirements (Technology & Participation):
This course requires full face-to-face interaction and participation from both the instructor and students. In order to attend, you’ll must make sure you have the following:
- Computer or laptop with webcam (webcams are mandatory): This course will involve 100% on-screen interaction with your instructor and classmates, reading/viewing on-screen content like slides or videos, and interacting via typing with questions or responses. For this reason, you must have a webcam and use a full computer/laptop, and we do not permit students to attend using a tablet or cell phone.
- A quiet space with minimal distractions: Please plan to be fully engaged in the class, and clear your work schedule just as you would for attendance in an in-class program.
Course Dates:
- June 4, 2024 - 8:30 AM - 12:30 PM
- June 5, 2024 - 8:30 AM - 12:30 PM
- June 6, 2024 - 8:30 AM - 12:30 PM
Attendance in all sessions is mandatory for course completion.
Next Scheduled Date: TBA
Course Credits:
- 4 - CCA Gold Seal Credits
- 12 - BC Housing CPD Points
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This course is delivered in partnership with local construction associations. You will be participating with industry peers from multiple regions.
