Finance & Accounting For Non-Financial Managers
Gold Seal: 4 Credits * BC Housing: 12 CPD Points
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, participants will learn how to:
- 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.
Delivery Method: Virtual Session – Zoom Meetings
Course Fee Includes: Access to the course, course materials, and a digital certificate upon completion.
This course is delivered in partnership with local and provincial construction associations across Canada. You will be participating with a group of industry peers from multiple regions.
Sharing a single registration between two or more individuals is not permitted. Please register each person that will be in attendance.
Prerequisites
There are no prerequisites for this course.
Technical Requirements
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Computer or laptop
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This course will involve on-screen interaction with your instructor and classmates, reading/viewing on-screen content (slides or videos), and interacting via typing with questions or responses. For this reason, cellphones may not be adequate.
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Windows 10 or Mac iOS.
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Webcam (Mandatory)– in order to engage and collaborate, participants will be expected to have their webcams on for the duration of the class
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Microphone (Mandatory)
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Internet connection- For best results, you will want to ensure you have an internet connection with an upload/download speed of 3-5 Mbps. You can test your internet speed here. The minimum recommended speed is 1.5 Mbps, but anything below 3 Mbps may result in loss of quality or buffering. Ideally hardwired connection versus wireless for stability - connect your computer directly to your router using an ethernet cable, rather than using your home wi-fi.
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A quiet space with minimal distractions –The microphone will be engaged for interactive sessions. Please plan to be fully engaged in the class and clear your work schedule just as you would for the in-class program.
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Comfortable chair
Who Should Attend
Attendanceis 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
Course Credit Information
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The course is eligible for 4 CCA Gold Seal education credits and 12 BC Housing CPD credits upon completion.
Registrants seeking BC Housing CPD credits for this course must complete all course components before a certificate showing BC Housing CPD credits earned will be issued.
Registrants seeking gold seal credits for this course will be required to complete an assessment during the course to qualify to have the gold seal credit endorsement appear on their certificate of completion.