• 04 June
    3 sessions, 4 hours each
    Online
    Session information
    Sessions
    Session 1
    Tue 04 Jun 11:30 EDT - Tue 04 Jun 15:30 EDT
    Online
    Session 2
    Wed 05 Jun 11:30 EDT - Wed 05 Jun 15:30 EDT
    Online
    Session 3
    Thu 06 Jun 11:30 EDT - Thu 06 Jun 15:30 EDT
    Online
    • Member Pricing $500.00 excl. Tax
    • $600.00 excl. Tax
    • Course
  • 19 November
    3 sessions, 4 hours each
    Online
    Session information
    Sessions
    Session 1
    Tue 19 Nov 11:30 EST - Tue 19 Nov 15:30 EST
    Online
    Session 2
    Wed 20 Nov 11:30 EST - Wed 20 Nov 15:30 EST
    Online
    Session 3
    Thu 21 Nov 11:30 EST - Thu 21 Nov 15:30 EST
    Online
    • Member Pricing $500.00 excl. Tax
    • $600.00 excl. Tax
    • Course
  • 04 March
    3 sessions, 4 hours each
    Online
    Session information
    Sessions
    Session 1
    Tue 04 Mar 11:30 EST - Tue 04 Mar 15:30 EST
    Online
    Session 2
    Wed 05 Mar 11:30 EST - Wed 05 Mar 15:30 EST
    Online
    Session 3
    Thu 06 Mar 11:30 EST - Thu 06 Mar 15:30 EST
    Online
    • Member Pricing $500.00 excl. Tax
    • $600.00 excl. Tax
    • Course
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Description

The success of a construction project is a team effort involving many roles including project managers and accountants. This course aims to provide project management professionals with a comprehensive understanding of construction financial management. It bridges the gap between construction processes and accounting knowledge, ensuring that project managers have the necessary financial insight to make informed decisions.

By equipping project managers with a deep understanding of construction financial management, the course can enhance their ability to effectively manage projects, control costs, forecast accurately, and collaborate more efficiently with other stakeholders, including accountants. This universal approach ultimately contributes to the successes of construction projects.

In this course you will learn:

  • 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

Intended Audience

Attendance is encouraged for those wishing to learn the fundamentals of finance and accounting, to interpret and react to financial signals, to review, calculate and discuss financial performance and to gain a new sense of confidence when participating with financial professionals.

  • Project managers
  • Coordinators
  • Estimators
  • Department heads
  • Field superintendents
  • Gold Seal candidates
  • Senior managers and
  • Owners
  • Anyone who can influence project and company profits

Related Info

This course is a spin-off of the Finance and Accounting for Non-Financial Managers and was requested by a large general contractor to include issues directly applicable to Project Managers. As such, there are some duplications of content and thus attendance at both this course and the Finance and Accounting course is not recommended. 

Webcams and a computer/laptop are mandatory. This course involves 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, cell-phones or tablets may not be adequate.

Access information and the course manual will be provided to you by your association via email in advance of the training.

Speaker

Wayne Newell

For over 35 years Wayne provided financial leadership to companies throughout Canada, the United States and the Caribbean. Now retired, he was formerly a designated CMA (Certified Management Accountant). As your course developer and instructor, he has a deep background of experience in accounting - specifically in the area of construction contracting – and is enthusiastic about passing on his industry knowledge and insight.

During his seminars he discusses specific techniques; methods and strategies that help contracting companies increase profits, control costs and improve cash flows. In the past twenty years Wayne has presented his exclusive Construction Management Courses to over 3,500 construction professionals from St. John’s to Victoria.