In this intensive program, find out what you should know and learn before you sit for the exam to become a Certified Construction Industry Financial Professional (CCIFP). This course provides an overview of the industry domains listed in Financial Management and Accounting for the Construction Industry, (The Book) -- the Body of Knowledge for CCIFPs and your primary certification resource.
Learning Objectives
After completing this course, you will be able to:
· Identify topic areas that comprise the “Body of Knowledge” for CCIFPs
· Identify the most important topics, concepts, calculations and practices that a CCIFP should know
· Benchmark your own level of knowledge against that of a CCIFP
· Target your study efforts in critical areas in order to broaden & deepen your mastery of these topics
Level & Prerequisites: This is a group-internet based course at the Overview level. At least three years of industry experience and a basic understanding of construction accounting and financial management are recommended.
CPE Credits: This program provides 4 CPE credits in the field of Accounting and 4 CPE credits in the field of Specialized Knowledge for a total of 8 CPE credits.
Who Should Attend: CPAs and other accounting professionals who are preparing to sit for the industry exam.
Preview Available
Accounting & Reporting
· Accounting standards & guidelines
· Basic methods of accounting
· Receivables
· Costs in excess & billings in excess
· Construction equipment
· Subcontractor payables
· Capitalized interest
· Financial statements
· Project management
Preview Available
Income Recognition Methods
· Financial reporting
· Percentage-of-completion accounting method
· Contract revenues
· Contract costs
· Accounting for the effects of change in estimates
· Completed-contract accounting method
Legal
· Preparation & review of contracts
· Subcontracts
· Warranties
· Alternatives to litigation
Speaker(s):
Preview Available
Budgeting & Planning
· Capital budgeting
· Cash management
· Strategic planning
· Strategic cost management
Human Resources
· Compensation
· Employee benefit plans
· Accounting/finance department administration
Speaker(s):
Preview Available
Information Technology
· Applications for construction management
Risk Management
· Construction-related insurance
· Surety
Taxes
· Accounting methods unique to the construction industry
· Tax filing
Speaker(s):