Product Overview
While operations are fundamental to the success of contracting businesses, a strong foundation in finance and accounting is equally vital. Construction leaders wishing to prioritize financial literacy and integrate it into their business strategy will acquire the practical skills needed to navigate challenges, seize opportunities, and achieve long-term success.
This course teaches construction managers how to interpret financial reports, analyze data, forecast cash flows, and make informed decisions to improve performance. The emphasis on interactive learning with hands-on exercises ensures that participants will acquire the practical skills essential for their construction and financial roles.
Emphasis is placed on the importance of finance and accounting personnel in processing and reviewing numbers and providing essential operational insights and recommendations to non-financial staff. Hence, non-financial and managers leave the course with a comprehensive understanding of both construction and financial management.
Learning Outcomes
- Forecast revenue to ensure overheads are covered and profit is achieved
- Get acquainted with Generally Accepted Accounting Principles
- Learn the real costs of lost productivity
- Developing profit and revenue goals
- Delve into revenue, cost accruals, and their significance in financial reporting
- Understand financial terminology
- Learn the effectiveness of financial ratios and analyses
- Learn to forecast cash flows and review accounts receivable strategies
- Explore risk management and its mitigation rewards
- Create a strong financial awareness in all who attend
- Justify fixed asset acquisitions.
- Use reports and analyses to monitor strengths and weaknesses
Who Should Attend
- Project managers, Project coordinators, Estimators
- HR Staff, Warehouse Managers, Department Heads
- Gold Seal Candidates, Senior Managers, Owners
- Controllers, Accountants, Administrators
- All individuals who can drive project and company profitability
Course Format
- Live, Online, Instructor-led training. This is a highly interactive course facilitated by the instructor on the Zoom platform.
- You will be expected to have your webcam on during the whole class and participate in break-out rooms, small-group discussions, and other activities with your instructor and classmates during the course.
- Zoom access information will be provided to you in advance of the training by your instructor
- Full attendance and participation in all four sessions is mandatory for course completion. If a student misses a class session, we are unable to transfer registration or provide a partial refund of the registration fees.
Course Requirements (Technology & Participation)
This course requires full face-to-face interaction and participation from both the instructor and students. In order to attend, you’ll must make sure you have the following:
- Computer or laptop with webcam (webcams are mandatory): This course will involve 100% 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 use a full computer/laptop, and we do not permit students to attend using a tablet or cell phone.
- 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.
Industry Credits
- This course is worth 2 gold seal credits.
- This course is worth 12 Informal Continuing Professional Development (CPD) credits as approved by BC Housing.
About The Instructor – Wayne Newell
For over 35 years Wayne provided financial leadership to companies throughout Canada, the United States and the Caribbean. Now retired, he was formerly a designated CMA (Certified Management Accountant). As your course developer and instructor, he has a deep background of experience in accounting - specifically in the area of construction contracting – and is enthusiastic about passing on his industry knowledge and insight.
During his seminars he discusses specific techniques; methods and strategies that help contracting companies increase profits, control costs and improve cash flows. In the past twenty years Wayne has presented his exclusive Construction Management Courses to over 3,500 construction professionals from St. John’s to Victoria.
Refunds or Transfers:
- Five (5) or more business days before the course start date: Full refund of registration fees or can be transfers to a different course date.
- Less than five (5) business days before the course start date and course no-shows: No refunds or transfers to future course dates.
- For a complete document on the NRCA Education Policies, click here.
Other Policies:
- Substitution of another member of your company/team is permitted up to the course start date for no additional fee.
- 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 the course. Refunds will not be issued to students who are removed from the course for non-compliance of this requirement.
- If the NRCA has to postpone or cancel courses due to insufficient enrolment, NRCA will refund the registration fee or, if possible, the attendee may choose to move to an identical session in the future.
