Finance and Accounting for Non-Financial Managers

Description

While operations are fundamental to the success of contracting businesses, a strong foundation in finance and accounting is equally vital. Construction leaders wishing to prioritize financial literacy and integrate it into their business strategy will acquire the practical skills needed to navigate challenges, seize opportunities, and achieve long-term success.

This course teaches construction managers how to interpret financial reports, analyze data, forecast cash flows, and make informed decisions to improve performance. The emphasis on interactive learning with hands-on exercises ensures that participants will acquire the practical skills essential for their construction and financial roles.

Emphasis is placed on the importance of finance and accounting personnel in processing and reviewing numbers and providing essential operational insights and recommendations to non-financial staff. Hence, non-financial and managers leave the course with a comprehensive understanding of both construction and financial management.

LEARNING OUTCOMES

• Learn to forecast cash flows, review accounts receivable strategies, and justify fixed asset acquisitions.
• Understand financial terminology
• Delve into revenue, cost accruals, and their significance in financial reporting
• Get acquainted with Generally Accepted Accounting Principles
• Learn the effectiveness of financial ratios and analyses
• Explore risk management and its mitigation rewards
• Using reports and analyses to monitor strengths and weaknesses
• Learn the real costs of lost productivity
• Forecast revenue to ensure overheads are covered and profit is achieved
• Developing profit and revenue goals
• Create a strong financial awareness in all personnel who attend

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.  

Intended Audience

• 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

Related Info

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.