Description

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 will help you resolve these issues and a host of others. 

This course delivers immediate results to your profitability as participants develop practical knowledge of key accounting principles, procedures and financial reports. 

So, ask yourself, how much accounting and financial training do you and your management team have? 

In this course you will:

•  Calculate your financial strength with just two numbers
•  Measure, control and reduce overhead expenses with a simple factor
•  Learn why revenue and cost accruals are mandatory processes
•  Easily and quickly establish profit goals
•  Walk through each of the 4 basic financial statements
•  Participate in analyses and discover improvement opportunities
•  Justify fixed asset acquisitions with future savings
•  Learn the rules – Generally Accepted Accounting Principles
•  Learn why fixed assets are recorded at historic cost and not market values
•  Recognize why labour is the most controllable cost in construction
•  Familiarize yourself with the two main causes of lost productivity
•  Learn how to manage cash shortfalls
•  Realize why KPIs are essential management tools
•  Learn how to navigate the skilled labour shortage
•  Learn how to mitigate risk through internal controls, bonding and insurance
•  The accounting cycle and mandatory processes
•  Learn the terms used in the finance and accounting world
•  Appreciate what accountants do and how they think
•  Complete some exercises to reinforce some course discussions
•  Bridge the knowledge gap for non-financial managers 

This is not a sit and listen event. It is an interactive course with hands-on exercises that walk you through each step of the financial process. 

Very simply, if any of your project leaders responsible for any aspect of profitability in your company have not been trained to read, produce and analyze financial reports, they should take this course because it provides them with a solid understanding of the major financial aspects of managing any project or company in order to ensure its success. 

The good news is that, for all of the problems we face, there are plenty of solutions to help. One particular solution is this Gold Seal accredited course in which Wayne Newell discusses financial and operational issues he experienced during his 35-year career. The results were more efficient operations that helped contractors identify unwanted expenses, increase productivity, manage overhead expenses, analyze financial reports, address labour shortages, improve cash flow and increase profits. 

Who should attend: 

Attendance is encouraged for those wishing to learn the fundamentals of finance and accounting, to interpret and react to financial signals, to review, calculate and discuss financial performance and to gain a new sense of confidence when participating with financial professionals.

•  Project managers
•  Coordinators
•  Estimators
•  Department heads
•  Field superintendents
•  Gold Seal candidates
•  Senior managers
•  Owners and
•  Anyone who can influence profits 

Since its development and introduction in 2019, almost 1700 construction professionals have benefited by attending. 

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 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. 

Course Format  

 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 class attendees 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 Dates!