Accountants Guide to Project Management

This course is offered in  1/2 day sessions via Zoom, on the following dates:

October 29 & 30, 2024 | Feb 4 & 5, 2025

COURSE OVERVIEW

This course aims to bridge the gap between financial professionals and project managers by teaching accountants the language of construction project management. This includes insight into understanding how project information relates to different stages of projects.

Many accountants may lack direct experience or exposure to the intricacies of construction projects. This course fills those experience gaps by providing specific guidance to the construction industry. This leads to improved project results through enhanced cost controls, and insightful financial reporting.

The course was designed to empower accountants with the knowledge and skills necessary to collaborate effectively with project managers, contribute meaningfully to construction projects, and ultimately drive better project outcomes.

What will you learn?

  • The roles and responsibilities of Project Managers and Accountants
  • The differences between Project and Accounting systems
  • 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 analyses.
  • 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 strong project management awareness in all personnel who attend
  • Identify improvements on future jobs through project evaluations and close-outs

Who should attend?

  • Controllers
  • Accountants
  • Administrators
  • HR staff
  • Warehouse managers
  • Department heads
  • Gold Seal candidates
  • Senior managers
  • Owners and
  • Anyone who can influence project and company profits

Attendance is encouraged for those accountants and admin personnel who wish to learn the challenges of the construction processes. Not only will the construction projects’ performance improve when accountants and PMs work more closely together, each participant will most assuredly gain a much better understanding of construction. In this course, accountants and admin personnel learn many ways project results can be improved through accounting practices, cost controls and financial reports. To do that, accountants and admin personnel must understand the roles and responsibilities of PM’s.

Attendance at this course earns 2 Gold Seal Credits

Course Requirements:

This course is highly interactive, you must have the following:

  1. Computer or laptop with webcam: This course will involve 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, students can not attend using a tablet or cell phone.
  2. 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 an in-class program.
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About the Trainer

With over 35 years in senior financial roles, Wayne Newell has a rich history with companies across Canada, the US, and the Caribbean. 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 3600 professionals, making him a seasoned voice in the industry. He was awarded his CMA designation in 1972.