Project Managers Guide to Accounting Practices, Cost Controls and Financial Reports

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

June 4, 5 & 6, 2024 | November 19, 20 & 21, 2024

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.

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.

What will you 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

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

The course is worth 4 Gold Seal Credits

Accountants Guide to Project Management

Accountants Guide to Project Management

May 14 & 15, 2024 | October 29 & 30, 2024

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...

Profitable Contracting

Profitable Contracting

May 22 & 23, 2024 | November 5 & 6, 2024

The successes of construction companies are attributed to the relationships between operations and financial personnel. Managers and owners who excel in both areas can optimize performance, manage risks effectively, allocate resources efficiently, and capitalize on...

Finance and Accounting for Non-Financial Managers

Finance and Accounting for Non-Financial Managers

October 8, 9 & 10, 2024 | January 21, 22 & 23 2025

Do you know your numbers and how to use them?  How are you managing labour productivity issues, unwanted costs, high overhead expenses, below-budget profits and one continuous headache with cash-flow?  Developed exclusively for the Canadian Construction industry, this...

Course Starting Times: PST: 8:30 am; MST: 9:30 am; CST: 10:30 am; EST: 11:30 am; AST: 12:30 pm;  NST: 1:00 pm

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.