Finance & Accounting For Non-Financial Managers - October 12 - 14, 8:30am - 12:30pm PST

Cost: $549 plus GST

Course overview

Many contractors have labour productivity concerns, high overhead costs, below-budget profits and one continuous headache with cash-flow. This Finance and Accounting course discusses all these issues supported with real life examples.

Very simply, if you’re responsible for any aspect of profitability in your company and you’ve never been trained to read, produce and analyze financial reports, you need to take this course to discover where expenses and profits are hiding. This course teaches you your numbers and how to use them.

Often, many contractors are unaware that a good financial and accounting understanding will make a significant difference in the way personnel manage the company and their projects. So, how are you managing high overhead costs, employee productivity and a challenging cash flow?

This Gold Seal accredited course, presented online in 3-half-day sessions, specifically focuses on non-financial managers in the construction industry and guides project managers, coordinators, estimators, field superintendents, Gold Seal candidates, owners and senior managers through the financial and measurement techniques needed to manage their contracting businesses.

The major issue facing contractors’ productivity today is the forecasted labour shortage by 2030. This course identifies 8 of the major causes and offers methods to resolve them with a focus on attracting young people to your company.

This is not a sit and listen event. This is an interactive course with hands-on exercises that walk you through each step of the financial process. Plus, your comprehensive course manual filled with the methods and strategies you need for your business, will serve as your reference guide.

Attendance is encouraged for those wishing to learn the fundamentals of finance and accounting, to interpret and react to financial signals, to review, calculate and discuss financial performance tools and to gain a new sense of confidence when dealing with financial professionals. In the past ten years, over 1,700 construction personnel have benefited from this course.

Instructor – Wayne Newell

For over 35 years Wayne served in senior financial leadership roles and worked with companies throughout Canada, the United States and the Caribbean. His experiences and expertise, shared with many companies, has helped owners, managers, employees and businesses grow. In doing so, he has amassed a library of knowledge on what makes a successful contracting company.

During his seminars he discusses his experiences in implementing specific techniques, methods and strategies used to help contracting companies increase profits, control and/or reduce costs and improve cash flows. In the past eighteen years Wayne has presented his exclusive Construction Management Courses to over 3,500 construction professionals from St. John’s to Victoria.  He was awarded his CMA designation in 1972.

Learning outcomes:

·         Why accountants do what they do

·         Forecasting project cash flows

·         Generally Accepted Accounting Practices (GAAP)

·         Benefits of Net Present Value (NPV) calculations

·         Understanding financial terminology

·         Controlling results with KPIs (Key Performance Indicators)

·         Monthly financial reporting package

·         How revenue and cost accruals produce reliable financial statements

·         Using reports and analyses to monitor strengths and weaknesses

·         The real costs of lost productivity

·         Controlling overhead costs

·         Developing a profit plan and revenue goals with just 3 numbers

·         How to increase profits, reduce costs and improve cash flow