EVENTS CALENDAR

Please note that this is a 8-hour course that takes place over 2 days. All sessions run from 8:30-12:30pm each day. There is no opportunity to re-schedule or request for a partial refund if a student cannot attend all sessions. All sessions must be attended to receive a course certificate. 

Registered students will receive login information from the instructor in advance of the class. 

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

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.

Format: 

• Live, Online, Instructor-led training, with a maximum class size of 20 students. 
• This course is facilitated by the instructor on the Zoom platform. Access information from the instructor will be provided to you in advance of the training.
• Two (2) morning sessions (4 hours each) over two (2) days:
  • Day 1: 8:30am-12:30pm
  • Day 2: 8:30am-12:30pm
  • Attendance in both sessions is mandatory for course completion. *Please note that If a student misses a class session, we are unable to transfer a registration or provide a partial refund of the registration fees.
• Fee Includes: digital certificate upon completion.

AUDIENCE:

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

INSTRUCTORS:

Tim Williams, MBA, B.Econ., CPA, GSC, is the President of Construction U, a company that 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.

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.

CREDITS:

This course has been accredited by the Canadian Construction Association (CCA) for 2 credits towards Gold Seal certification for attendance.
 

This course has been approved by BC Housing Licensing and Consumer Services (formerly Homeowners Protection Office) for seven and a half (7.5) points towards Continued  Professional Development (CPD) for in-class attendance.

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

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.