Product Overview
Learn how to design and read various construction financial reports and improve financial systems within your organization. You'll walk away from this course with a solid understanding of accounting processes as they relate to construction projects.
By the end of the course, you will be able to:
- Understand the types of contracts and their implications to the design of construction project financial management
- Understand the estimating process from bidding to award, to site mobilization
- Read and understand a General Summary Sheet
- Produce a project budget
- Understand change order methods and reports
- Link site resources to a Daily Extra Report and an accounting system
- Read and use financial statements to make decisions on a timely basis
- Forecast percentage of completion reports
- Understand and calculate financial ratios
- Understand the requirements of the Builder’s Lien Act and typical invoicing processes
- Calculate aged accounts payable and receivables separate from holdback amounts
- Create payroll reports and link this to the project schedule and labour productivity
- Understand the procurement of internal controls and recognition of revenue and expenses
- Understand normal closeout processes and expected reports
Industry Credits
- This course is worth 2 gold seal credits.
- This course is worth 8 Informal Continuing Professional Development (CPD) credits as approved by BC Housing.
Course Format
- Live, Online, Instructor-led training. This is a highly interactive course facilitated by the instructor on a video 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.
- Course access information will be provided to you in advance of the training by your instructor
- Full attendance and participation in all 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.
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.
