COURSE OVERVIEW 

Empower Your Accounting Team for Construction Success

The success of a construction project relies on the strength and collaboration of the entire team—including accountants. Effective communication, knowledge, management, costing, and forecasting are crucial to achieving project goals. For this to happen, all team members, especially accountants, must understand the role and responsibilities of project managers.

This course was designed to help accountants bridge the gap by teaching them the language of construction project management. You’ll learn how financial data connects to every phase of a project and gain valuable insights into final cost forecasting.

While accountants are experts in their field, many lack the specialized industry knowledge needed for construction projects. This course fills those experience gaps and shows how accounting practices, cost controls, and financial reporting can improve project outcomes.

Enhance your team’s skills and drive better project results.

This course equips them with the tools to:

• Improve project outcomes through better financial practices.
• Master cost control and enhance reporting.
• Integrate accounting and project management to maximize profitability.

LEARNING OUTCOMES 

By the end of this course, participants will be able to:

• Understand the roles and responsibilities of both Project Managers and Accountants in construction.
• Distinguish between Project Management and Accounting systems.
• Forecast cash flows, assess accounts receivable strategies, and justify fixed asset acquisitions.
• Recognize different contract types and how they impact financial reports.
• Explore the importance of revenue and cost accruals in reliable financial reporting.
• Understand how labour costs are critical in construction and the main reasons for productivity dips.
• Interpret standard coding phases and analyze job cost reports.
• Address challenges in forecasting job costs, managing employees, and building a strong corporate culture.
• Navigate the skilled labour shortage, control overhead costs, and implement effective risk mitigation strategies.
• Foster project management awareness with all involved personnel.
• Identify key improvements for future jobs through comprehensive project evaluations and close-outs.

BENEFITS

Benefits for Accountants Attending This Course

Enhanced Understanding of Construction Projects: Gain a clear understanding of  construction processes and the unique financial challenges involved.

Improved Collaboration with Project Managers: Learn how accountants and project managers can work together more effectively for improved project outcomes.

Stronger Financial Insights: Understand how to interpret and apply financial data at every stage of a construction project, improving forecasting, reporting, and decision-making.

Master Cost Controls and Profitability: Learn strategies to control costs, manage cash flow, and maximize project profitability.

Gain Industry-Specific Knowledge: Bridge the gap between traditional accounting practices and construction-specific financial strategies, including cost allocation, job costing, and contract management.

Build Skills in Risk Management: Learn how to mitigate financial risks in construction projects through effective financial reporting, internal controls, and budgeting.

Boost Career Development: Equip yourself with the skills needed to take on more strategic roles in construction finance, increasing your value within your organization.

WHY THE ACCOUNTANT'S GUIDE STANDS OUT

Construction-Specific Focus: Unlike general accounting courses, this guide is tailored to the unique challenges of the construction industry. It provides accountants with a deep understanding of construction-specific financial practices, from job costing to contract management.

Bridges the Gap Between Finance and Operations: The guide emphasizes collaboration between accountants and project managers, helping both parties work together more effectively to drive project success. This integration ensures better financial oversight and smoother project execution.

Practical, Hands-On Learning: The course provides actionable tools and insights that accountants can immediately apply in real-world construction settings, such as cost controls, cash flow forecasting, and financial reporting.

Expert-Led, Industry-Relevant Content: Designed by seasoned professionals with deep industry knowledge, this guide offers both foundational knowledge and advanced techniques specifically for construction finance.

Boosts Career and Business Performance: By mastering construction financial principles, accountants not only enhance their career prospects but also play a critical role in improving overall project performance and profitability for their organizations.

This course goes beyond traditional accounting knowledge, offering a practical, specialized approach to managing finances in the fast-paced, high-stakes world of construction.

WHO SHOULD ATTEND:

This course is ideal for accountants and admin personnel who want a better understanding of the complexities of construction processes. By fostering stronger collaboration between accountants and project managers, participants will directly contribute to improved project performance.

EARN RECOGNITION WHILE YOU LEARN:
Upon completing three engaging half-day sessions, participants will earn 2 Gold Seal Credits, boosting their credentials and signaling their commitment to professional growth.

ABOUT THE INSTRUCTOR:
Wayne Newell is a seasoned leader with over 35 years of senior financial and management expertise, having driven success stories across Canada, the U.S., and the Caribbean. His impressive career includes roles as an accountant, senior financial manager, and operations manager, where he has consistently delivered results and mentored businesses toward measurable, profitable growth.

Since 2003, Wayne has trained and inspired almost 4,000 professionals through dynamic and impactful training programs. A Certified Management Accountant (CMA) since 1972, he remains passionately committed to fostering excellence and development for his peers and students.