The Project Accounting and Cost Control 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.
This course is eligible for 1 Gold Seal Credit upon successful completion of optional online exam.
Project Accounting & Cost Control will help you:
- 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.
- Be able 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.
- Be able to link the site resources used for a change order to a Daily Extra Report and then to the accounting system.
- Be able to read financial statements: income statement, balance sheet, cashflow, job cost reports, and make decisions on a timely basis.
- Be able 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.
- Be able 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.
CCA Member $399 (+GST) Non-Member $499 (+GST)
Additional Details
Construction Owners, Project Managers, Project Coordinators, Estimators, Accountants and Staff.
This course is delivered in partnership between your local construction association and other associations throughout Western Canada. You’ll be participating in a cohort with industry peers from across these regions.
Tim Williams, MBA, B.Econ., CPA, GSC, BGC Partners Inc. | President
President of BGC Partners Inc., Tim has worked with numerous construction companies for over twenty years. He is an experienced and sought after trainer who has trained construction owners and managers on behalf of construction industry associations across Western Canada.
Cancellation Policy:
Payment is non-refundable for cancellations made within 5 business days of the course, or non-attendance on the day. Complimentary substitution of another member of your company is accepted. If CCA has to postpone or cancel courses due to insufficient enrolment, CCA will refund the registration fee or, if possible, the attendee may choose to move to an identical session in the future. Unless otherwise stated, every person able to see, hear, and observe the virtual course sessions must be a paid participant. Non-compliance of this requirement will result in removal from course. Refunds will not be issued to students who are removed from the course for non-compliance of this requirement.
CANADA – ALBERTA JOB GRANT
Did you know!! Eligible employers can get government funding to help employees access training opportunities. The Canada-Alberta Job Grant will give you up to 2/3 of the registration fee (up to $10,000/employee/fiscal year) for training. Whether taking one course or a combination of courses, the total training must be a minimum of 21 hours and be completed within 52 weeks.