360 Degree View of Your WIP

Jun 25, 2016 7:00am ‐ Jun 25, 2016 11:00am

Identification: MC3

This program provides an in-depth view of the Work in Process (WIP) schedule. The first half of the course will cover the basic accounting aspects of WIP – how to calculate, account for, and reconcile costs. Part two will explore the perspective of an internal analysis covering cash flow related to jobs, management and analysis tools, estimated costs to complete and projecting future profits using budgeting and forecasting. Finally, you will learn the significance of your WIP schedule from the third-party user’s perspective and why ensuring its successful performance is necessary to the credibility of your business.

Learning Objectives:

  • Define the WIP and percentage of completion (PCM) accounting methods
  • Demonstrate best practices for internal use and analysis of WIP schedules
  • Identify external analysis of how third-party users such as sureties, banks, CPAs, and others analyze your WIP



Treasury Management (Sessions I & II)

Jun 25, 2016 7:00am ‐ Jun 25, 2016 11:00am

Identification: MC2

This 4-part program is designed for Controllers and CFOs of construction companies who want to learn the fundamental skills of Treasury Management. This course will cover the following:

Part I – The Big Picture: Explore the principles and concepts that govern Treasury Management; learn the "whys" and "hows" of accomplishing your objectives; Treasury Management will be discussed in terms of overall Working Capital Management
Part II – Processes & Tools: Cash moves through a construction company within specific activity cycles; learn how effective Treasury Management manages these cycles to either speed or slow the movement of cash through the business, depending on which is most beneficial; discover specific tools and processes that help move and forecast the movement of cash

IRMI CRIS Course: Workers' Comp

Jun 25, 2016 7:00am ‐ Jun 25, 2016 4:00pm

Identification: MC1

The interaction of workers' comp insurance with state and federal workers' comp laws is unique in the insurance industry, and changes in these acts or the regulations implementing them have profound effects on the insurance line. Since this is the most costly property and casualty insurance coverage for most contractors, the insurance products and methods of handling this risk have evolved and grown accordingly.

Learning Objectives:

  • Understand how the workers' comp system evolved and how its laws and regulations apply to the construction industry
  • Describe the scope of coverage provided under the workers' comp policy and utilize this information to make recommendations for coverages needed by contractors
  • Comprehend the mechanics of the workers' comp marketplace and be able to evaluate the options open to a contractor to fulfill the requirements of the workers' comp laws
  • Explain the technicalities of workers' comp premium calculation and educate contractors about how workers' comp risks are rated, and analyze factors that can influence the final and long-term price that contractors pay for guaranteed cost programs

Treasury Management (Sessions III & IV)

Jun 25, 2016 12:00pm ‐ Jun 25, 2016 4:00pm

Identification: MC4

This 4-part program is designed for Controllers and CFOs of construction companies who want to learn the fundamental skills of Treasury Management. This course will cover the following:

  • Part III – Insurance Programs & Employee Benefits: Take a serious look at risk management, and the insurance programs that used to manage and mitigate risk; this session will also cover employee benefits, including how self-insured risk programs may be used to help control costs
  • Part IV – Budgeting & Reporting: Cover the alignment of a company’s budgeting process with its annual strategic plans and objectives; discuss developing enterprise and departmental budgets, along with periodic reporting that management needs to effectively manage the business

Work In Process: A Deep Dive & Advanced Perspective of WIP

Jun 25, 2016 12:00pm ‐ Jun 25, 2016 4:00pm

Identification: MC5

Your Work in Process (WIP) is more than a reporting tool; it is a financial management tool for your construction company. In this advanced workshop, you will learn strategies to turn unexpected profit fade and enhancements into predictable events.

Learning Objectives:

  • Explain how your WIP schedule is more than just a reporting tool
  • Discuss how different contract types are managed on your WIP
  • Show how to account for self-performed work on your WIP without double counting
  • Discuss change orders/additional purchase orders and how they impact gross profit and revenue expectations
  • Describe the role of the formal cost review process in the outcome of the WIP
  • Discuss WIP analysis techniques, tips, and tricks
  • Identify the impact of profit fade and fee enhancements
  • Apply WIP best practices

Leadership Development Skills for the Emerging CFM

Jun 26, 2016 6:30am ‐ Jun 26, 2016 11:00am

Identification: MC8

Today’s business environment creates challenges for the CFM – gaining buy-in, trust and accountability; motivating the team; effectively communicating; staffing dynamics – are some of the topics covered. The complexity of managing and motivating all team members to achieve projects and deadlines requires proven leadership principles, best practices and techniques. This four-hour workshop will provide you with the tools to achieve success incorporating specific construction based situations and examples. Participants will have the opportunity to apply learnings to reality-based situations during the program.


Accounting & Reporting

Jun 26, 2016 6:30am ‐ Jun 26, 2016 11:00am

Identification: MC6

In this program, you will learn how to use acceptable accounting and reporting practices to your company’s advantage and familiarize yourself with sample contractor financial statements. This course covers associated accounting issues, control and allocation methods for overhead, benchmarking and effective performance measures, classification of direct and indirect contract costs, and recent FASB pronouncements and exposure drafts.

Learning Objectives:

  • Distinguish what constitutes acceptable accounting and reporting practices for contractors
  • Recognize contractor financial statements, their uses, and their users
  • Compute and interpret key financial ratios needed for benchmarking
  • Classify various direct and indirect contract costs

Contracts 101

Jun 26, 2016 6:30am ‐ Jun 26, 2016 11:00am

Identification: MC7

You don’t need to be a lawyer to read a contract (though you absolutely want one to!), but you do need to understand what you are reading. You also need to understand the major differences between the AIA documents and the ConsensusDocs. This course will help you learn which clauses to look out for so you can protect your company’s bottom line.

Learning Objectives:

  • Analyze construction contracts and discuss how they shift risk
  • Identify clauses that may be unforseeable and why
  • Recognize contract clauses that can hurt you
  • Propose specific language to manage your risk
  • Modify contract language to your advantage
  • Select the standard clauses you should use
  • Use your lawyer more efficiently

Sub-Specialty - Automate Me

Jun 27, 2016 6:00am ‐ Jun 27, 2016 7:15am

Identification: DPG2

Learn and share your experiences in this interactive discussion about creative ways subcontractors use technology in the field. Bring a list of apps and solutions that work well in your company and how you use them.

Learning Objectives:

• Field tablet and smartphone use
• Hardware recommendations
• Mobile time reporting apps
• Bring Your Own Device (BYOD) policies


CFMA Benchmarker 2016 Preliminary Results and Best Practices

Jun 27, 2016 6:00am ‐ Jun 27, 2016 7:15am

Identification: DPG1

Learn about the key data from CFMA’s Benchmarker and how it can impact your company. Learn and share Benchmarker best practices with your conference peers, and walk away with benchmarking techniques that can help you improve your company’s financial and operational performance. KPIs most relevant to contractors, including those related to liquidity, profitability, leverage, efficiency, and productivity Methods by which contractors may manage operations in order to improve financial ratios relied on by sureties and lenders. Understand how others are using the CFMA Benchmarker to improve their bottom line. CFMA's new online Financial Benchmarker tool for 24/7 benchmarking, reporting, and comparisons of your company's financial performance with others in the industry

Learning Objectives:

  • Learn the preliminary results from the 2016 Financial Survey highlighting the 2015 FYE.
  • KPIs most relevant to contractors, including those related to liquidity, profitability, leverage, efficiency, and productivity
  • Methods by which contractors may manage operations in order to improve financial ratios relied on by sureties and lenders
  • Understand how others are using the CFMA Benchmarker to improve their bottom line
  • CFMA's new online Financial Benchmarker tool for 24/7 benchmarking, reporting, and comparisons of your company's financial performance with others in the industry