Accountants Guide to Project Management
Gold Seal: 2 Credits * BC Housing: 7 CPD Points
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 into 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 of a construction project requires 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
- Whylabour 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 labor shortage
- How to control and reduce overhead
- How to mitigate risk through bonding and insurance
- How project evaluations identify improvements in 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.
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.
Who Should Attend
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.
- Controllers
- Accountants
- Administrators
- HR staff
- Warehouse managers
- Department heads
- Gold Seal candidates
- Senior managers
- Owners and
- Anyone who can influence project and company profits
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
Course Credit Information
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The course is eligible for 2 CCA Gold Seal education credits and 7 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.