This four-hour course will provide an advanced view of the Work In Progress schedule. Your WIP is more than a reporting tool; it is a financial management tool for your construction company. From this course, you will gain strategies to turn unexpected profit fade and enhancements into predictable events. ake a deep dive into work-in-progress (WIP) so that you know what to look for and what questions to ask when reviewing a job schedule.

This program provides an in-depth view of the Work in Progress (WIP) schedule. The first part of the course will cover the basic accounting aspects of WIP including 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. Attendees will also 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 their businesses.

This program provides an in-depth view of the Work in Progress (WIP) schedule. The first part of the course will cover the basic accounting aspects of WIP including 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. Attendees will also 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 their businesses.

CFMA’s Advanced Cash Forecasting course is designed for construction financial professionals who have mastered the basic concepts presented in CFMA’s Cash Management module, and who are interested in learning more comprehensive forecasting approaches.

CFMA’s Advanced Cash Forecasting course is designed for construction financial professionals who have mastered the basic concepts presented in CFMA’s Cash Management module, and who are interested in learning more comprehensive forecasting approaches.

As we hear all the time in CFMA, Cash is King! Managing your cash flow is just as important if not more important than managing the job. No matter how great a job is running, if the money is not coming in to pay the bills a contractor can be one job away from disaster. In this course, we review cash management concepts, from debt management to managing excess cash, from internal controls to cash forecasting.

As we hear all the time in CFMA, Cash is King! Managing your cash flow is just as important if not more important than managing the job. No matter how great a job is running, if the money is not coming in to pay the bills a contractor can be one job away from disaster. In this course, we review cash management concepts, from debt management to managing excess cash, from internal controls to cash forecasting.

KPIs provide quick and focused information on critical aspects of company operations. They are primarily intended for internal users and while they provide the framework for evaluating operational results, KPIs do not usually answer the question of why the results are occurring. However, when properly chosen, they provide focused and meaningful insights into how the company is performing. This course will help further explain the use of KPIs and how you can utilize this information to present a bigger financial picture.

Learning Objectives:
After this session, attendees will be able to:

• How to select KPIs that are tailored to the needs of different users
• Identifying what KPIs are most meaningful and relevant
• Developing tools/techniques for KPI reporting
  
• Understand what presentation formats are most effective
• The importance of timeliness in KPI reporting
• Incorporating historical data, projections and benchmarking into KPI presentations

This course is designed for accounting professionals new to the construction industry, as well as construction industry professionals who want or need a better understanding of construction accounting processes, construction cost management systems, job costs and job cost reporting, the WIP, and the most important elements of a contractor's financial statements. This course provides an introduction to the key processes and practices that make construction accounting unique.

This course is designed for accounting professionals new to the construction industry, as well as construction industry professionals who want or need a better understanding of construction accounting processes, construction cost management systems, job costs and job cost reporting, the WIP, and the most important elements of a contractor's financial statements. This course provides an introduction to the key processes and practices that make construction accounting unique.