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Accounting for Non-Financial Managers in Construction

“I’m used to costing things out in my head. But it’s too competitive for that now. I wish I’d taken this course 10 years ago.”

You invest in equipment, supplies and people. But your best return on investment may be your own financial expertise. In this this two-day, hands-on training program – led by construction-finance expert Wayne Newell – learn to produce and interpret the four financial reports that are critical to business success. 

This course specifically focuses on non-financial managers in the construction industry and guides project managers, coordinators, estimators, field superintendents, owners and senior managers through the financial and measurement techniques needed to manage their contracting business.

This is an interactive course with hands-on exercises that walk you through each step of the financial process. You’ll take home a comprehensive course manual filled with the methodologies and strategies you need to improve your business.

 

Topics:

  • Terms and definitions
  • Accounting Principles and Guidelines
  • 4 critical financials – Balance Sheet, Profit and Loss, Cash Flow, Equity
  • General Ledger, Accounting Cycle and Accounting Standards
  • Why billings do not equal revenues until final completion
  • Controlling overheads with 1 simple factor
  • Establishing annual profit plans with 3 simple numbers
  • Financial ratios and analyses
  • Risk management
  • Labour productivity improvement strategies
  • Exercises – cash flow forecast, project cash requirements, justifying asset additions, revenue versus billings, Balance Sheet, Income Statement, financial analyses and more

 

Learning Outcomes:

  • Understand the fundamentals of finance and accounting
  • Comprehend accounting processes and terminology
  • Interpret and react to financial signals through financial statement analysis
  • Calculate and apply financial performance tools that assist decision making
  • Examine and critique business and project finances
  • Gain a new sense of confidence when dealing with financial professionals
  • Deliver better bottom-line results through sound decision making
  • The real costs of lost productivity and what can be done
  • Control overhead costs with easily developed factors
  • Develop a profit plan and revenue
  • Increased profits and cash flow

 

Transform your business into a lean, mean contracting machine that reins in overhead costs, detects pitfalls, and submits high-value, high-profit bids!

 

This course is ideal for… Project managers, estimators, field superintendents, team leaders, owners, senior managers and those who wish to increase their financial and accounting knowledge.

 

2 Gold Seal Credits

Member Fee

$400.00

Non Member Fee

$500.00

 

Facilitator: Wayne Newell, Wayne Newell Management & Seminar Services

For the past 35 years, Wayne has served in senior financial roles with companies in Canada, the United States and the Caribbean. By sharing his experiences and expertise with many companies,

Wayne has helped owners, managers and employees build successful construction businesses. His Gold Seal approved, Profitable Contracting six-hour course discusses specific techniques, methods and strategies used by contracting companies to increase profits and improve cash flows. His Gold Seal approved Finance and Accounting for Non-Financial Managers two day course, developed specifically for non-financial managers in the construction industry, guides project managers, project coordinators, estimators, field superintendents, owners and senior managers through the financial and measurement techniques needed to manage contracting businesses. Both courses have been presented in most major Canadian cities since 2003.

His construction management experiences focused on guiding small, medium and large contractors; no matter the size of the company, he mentored owners, managers and employees on how best to perform and lead their companies. They learned ways to save money and time…leading to improved cash flow, reduced costs and higher profits.

Time

March 6, 2019 8:30 am - March 7, 2019 4:00 pm

Location

Venue: Winnipeg Construction Association - Construction Education Centre
Burnell Room