20393 Fraser Highway
Participants will learn how to design and read various construction financial reports and improve the business systems of their construction company.
At the end of the course participants will be able to:
- Understand the various types of contracts within the construction industry and the implications to the design of project financial management and stakeholder satisfaction.
- Understand the estimating process from bid to award to mobilization. Be able to read and understand a General Summary Sheet of the bid and the steps to producing a Project Budget.
- Understand the various types of Change Order methods within the contract and the implications for Change Order reporting.
- Be able to link the site resources to a Daily Extra Report and the coding to the General Ledger.
- Be able to read financial statements: income statement, balance sheet, cashflow, job cost reports, etc. 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 e.g., banks, bonding company.
- 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 normal process used for both accrual-based accounting and committed cost accounting.
- Understand the normal close out processes and the reports expected for project budget vs actual, deficiencies and warranties.
Instructor: Tim Williams, B.Econ., MBA, CPA, GSC is the President of BGC Partners Inc. BGC Partners provides training services tailor made for the construction industry. Tim has worked with numerous construction companies for over twenty years. He is a Gold Seal Certified project manager. He is an experienced and sought-after trainer who has trained construction owners and managers on behalf of construction industry associations across Western Canada.
What previous participants have said:
“Great instructor with great knowledge in the construction industry. This is such a fabulous course for accounting in this industry.”
“Clear speaker. Thoroughly answers questions with good explanations.”
Please contact Ally Bodnar at 604-298-7795 or email@example.com for more information.
COURSE REGISTRATION CANCELLATIONS, TRANSFERS & REFUNDS:
Cancellations received at least 10 business days prior to the course date will result in a full refund.
Cancellations received less than 10 business days but more than 5 full business days prior to the course date are subject to an administration fee of $100 per day for full and half-day seminars, or $25 for breakfast sessions.
Registrants who do not show up for a course, and/or who do not notify ICBA at least 5 full business days prior to the course date will be assessed the full cost of the course. There will be no refunds or credits in this case.
Substitution of attendees is permitted up to and including the day of the course.
COURSE CANCELLATION BY ICBA:
ICBA may have to postpone or cancel courses due to insufficient enrolment, in which case ICBA’s liability will be limited to a refund of the registration fee.