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Accountants Guide To Project Management (May 14, 2024)

May 14, 2024 9:30 AM - May 15, 2024 1:00 PM (MDT)

Description


What if we could identify ways for accountants to better understand Project Management? This course, exclusive to the Canadian Construction industry, teaches construction financial professionals the language of construction project management, how the information available relates to each phase of the project, and provides insight on what can go wrong.  

The success of a construction project results from the contributions and strength of the entire team - including accounting and other admin personnel. It requires open communication, understanding and collaboration. Managing, tracking and forecasting the financial results on a construction project require a clear understanding of the project by all parties involved. 

Accountants know their profession but few have ever had the kind of building guidance required in today’s construction climate. This course fills in the experience gaps most accountants lack.          

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 PMs.   

During this course you will learn: 

  • The roles and responsibilities of Project Managers and Accountants 
  • How and why Project and Accounting reporting systems are different 
  • Generally Accepted Accounting Principles – the rules accountants must follow 
  • How and why to forecast cash flows 
  • How to review accounts receivable collections policies and strategies 
  • How to justify fixed asset acquisitions  
  • The types of contracts and how they are recognized in the financial reports 
  • Why revenue and cost accruals are mandated  
  • Why labour is the most controllable cost in construction 
  • The two main causes of poor productivity 
  • The standard coding phases used by all contractors 
  • How to analyze a job cost report 
  • 4 issues in forecasting job costs at completion 
  • How to effectively manage employees to maintain retention and productivity  
  • How to create a corporate culture  
  • How to navigate the skilled labour shortage 
  • How to control and reduce overhead   
  • How to mitigate risk through bonding and insurance 
  • How project evaluations identify improvements on future jobs 
  • The procedures and documentation to close-out a successful project 

The good news is that, for all of the issues accountants face, there are many solutions. One particular solution is the Gold Seal accredited Accountant’s Guide to Project Management training course in which Wayne Newell discusses operational and financial issues he experienced during his 35-year career. 

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.  

A win-win situation for all involved! 

Instructor – 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 his experiences in implementing specific techniques, methods and strategies used to help contracting companies increase profits, control and/or reduce 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.  He was awarded his CMA designation in 1972. 

Course outline 

This course will be delivered in partnership with your local construction association and other associations throughout Canada. As such, you will be participating with industry professionals from many provinces.  

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. 

In order to issue course certificates, attendance will be monitored through Zoom “Usage” reports which will show all the attendees in the class and how long they were logged in.  

Please plan to be fully engaged in the class just as you would for attendance in a classroom.  

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

Future offerings of this course:

Please check back for Fall 2024 offerings!!

Time

May 14, 2024 - 9:30 am - 1:00 pm MST 

May 15, 2024 - 9:30 am - 1:00 pm MST

Location

Online with Zoom

Zoom Links will be sent within 1 week of course start date.

Pricing

Member: $399.00 + GST

Non-Member: $499.00 + GST

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Contact Information

Name: Brittaney Down
Email: brittaney.down@edmca.com
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