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This two 1/2-day virtual instructor-led course is designed for construction company owners, project managers, project coordinators, estimators, accountants, and staff to develop an understanding of accounting processes as it relates to construction projects.

Participants will learn how to design and read various construction financial reports and improve the financial systems of their construction company.

Course Content:

• Understand the various types of contracts within the construction industry and the implications to the design of construction project financial management and stakeholder satisfaction.
• Understand the estimating process from bid to award to site mobilization.
• Learn to read and understand a General Summary Sheet of the bid and the steps to produce a Project Budget.
• Understand the various types of Change Order methods within construction contracts and the implications for Change Order reporting.
• Learn to link the site resources used for a change order to a Daily Extra Report and then to the accounting system.
• Learn to read financial statements: income statement, balance sheet, cashflow, job cost reports, and make decisions on a timely basis.
• Learn to forecast percentage of completion reports:  projected income statements, job costing and cashflow to satisfy internal and external stakeholders such as banks and bonding companies.
• Understand and calculate various financial ratios used to understand financial reports and create company dashboards.
• Understand the holdback requirements of the Builder’s Lien Act and typical invoicing processes used at month end.
• Learn to calculate aged accounts payable and receivables separate from holdback amounts.
• Understand the importance of payroll reporting and being able to link this to the project schedule and labour productivity assumptions used by the estimating team.
• Understand the importance of procurement internal controls and the different methods used for recognition of revenue and expenses.
• Understand the normal close out processes and the reports expected for project budget vs. actual, deficiencies and warranties.

Course Dates:

• April 24, 2025 - 8:30am - 12:30pm 
• April 25, 2025 - 8:30am - 12:30pm

Next Scheduled Date:  May 22-23, 2024

Please Note:  Full attendance during the entire period each day is required in order to receive a course completion certificate.

Please note the following:  

1. You will receive an email with easy to follow instructions on how to join the virtual classroom 48 hours prior to the course date.
2.  Your course materials and handouts will be attached in a PDF format.   It is recommended that you print the attachments prior to class as they will be helpful for notes and the various exercises to be completed in class. Print the slides attachment double sided.
3. All students are encouraged to use the chat function to ask questions, as well as speaker and microphone during open session discussions. 

You’ll need to make sure you have the following:

• Computer, laptop or iPad with webcam (webcams are mandatory): 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 have a keyboard.
• 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 attendance in an in-class program.

Credits:

• 2 - CCA Gold Seal Credits
• 8 - BC Housing CPD Points