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Financial Management for Non-Financial Managers and Construction Project Leaders

This course provides the financial management essentials of the construction business to non-financial managers to enable them to track and interpret the financials throughout the lifecycle of a construction project. The program explores the detailed elements for financial tracking, monitoring, communicating and adjusting as the construction project evolves – all while carefully balancing budget and forecasting financials. The objective of this course is to provide nonfinancial construction managers with a solid understanding of the essential financial aspects of managing any project in order to ensure its successful conclusion.

Chapter coordinators, contact education@cfma.org for more information or to schedule this course for their chapter. If you wish to attend a course at a CFMA chapter, see a list of upcoming courses, or visit CFMA’s Education Online website to learn more about CFMA’s web-based education.

Prerequisites:
This is a group-live program at the Basic level. A basic understanding of the construction project process and construction financial management is recommended.

Program Outline:

  • Project Risk Assessment
  • Contracts, Billings and Cash Flow
  • Project Costing and Forecasting
  • Financial Statement Overview

When you have completed this course, you will be able to:

  • Identify the risks that need managing for the steps of the project life cycle
  • Apply the recommendations for managing contract billing for positive outcomes
  • Integrate job cost systems to capture and project costs to align with the budget
  • Employ recommendations for successful change order management to maintain construction project profitability
  • Implement the steps of project forecasting and managing a project forecast meeting
  • Calculate percent complete and earned revenue
  • Describe the purposes and components of financial statements and implement rules that apply to each statement
  • State the interested parties of financial statement information

CPE Credit:
This program provides 4 CPE credits in the field of Specialized Knowledge & Applications.

Who Should Take This Course?
This course is designed for new Construction Finance Managers, Construction Project Managers, Project Accountants and leaders of construction firms who are non-financial managers.

 

NASBAThe Construction Financial Management Association (CFMA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: Web site: www.learningmarket.org.