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CLASSROOM: Project Accounting & Cost Control

Continuing Professional Development, Courses, Gold Seal Certified Course, Instructor-led Classes, Leadership & Management, List View, Training, Vancouver
Wednesday, March 10, 2021 8:30 AM - 4:30 PM
VRCA Vancouver
3636 E. 4th Avenue, Vancouver
Member pricing.
For members pricing please Login to complete your registration

Participants will learn how to design and read various construction financial reports and improve the financial systems of their construction company.

Fee Includes: All books and materials, digital certificate upon completion, complimentary Wi-Fi access, lunch and free parking.

Format: One day (8 hours) of in-class instruction.

LEARNING OUTCOMES:

  • 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, 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 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.

AUDIENCE:

Construction Owners, Project Managers, Project Coordinators, Estimators, Accountants, and Staff.

INSTRUCTORS:

Tim Williams, MBA, B.Econ., 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.

Construction Consulting Services

Beatrice Tincu CPA, CGA, B.Econ is the owner of a boutique consulting and accounting firm specializing in assisting construction companies. She is a Chartered Professional Accountant, with over 15 years of experience in working within a variety of construction companies.

Note re COVID-19: VRCA is continuing to monitor the evolving impact of the Novel Coronavirus (COVID-19) and is following the advice of public health officers regarding mass gatherings. On March 13, VRCA announced its plan for events and education courses, including the Construction Leadership Forum, through April. In the event the risk associated with bringing members together continues beyond April, we may cancel or postpone additional classroom courses or events. In those instances, we will notify registrants immediately and apply flexibility to any registration changes.

CREDITS:

This course has been accredited by the Canadian Construction Association (CCA) for one (1) credit towards Gold Seal certification for in-class attendance.
 
 
 
 

This course has been approved by BC Housing Licensing and Consumer Services (formerly Homeowners Protection Office) for seven (7) points towards Continued  Professional Development (CPD) for in-class attendance.

 
AIBC Education Provider

This course has been approved by Architectural Institute of British Columbia (AIBC) for seven and half (7.5) core units towards AIBC’s Continuing Education System

Fee Includes: All books and materials, digital certificate upon completion, complimentary Wi-Fi access, lunch and free parking.

Cancellation & Substitution Policy: Payment is non-refundable for cancellations made within 7 business days of the course, or non-attendance on the day. Transfer to another date is not accepted. Complimentary substitution of another member of your company is accepted. 

If VRCA has to postpone or cancel courses due to insufficient enrolment, VRCA will refund the registration fee or, if possible, the attendee may choose to move to an identical session in the future.

 
Non-Members $499.00
VRCA Member $399.00
Member pricing.
For members pricing please Login to complete your registration

On-line registration is now closed.