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CFMA's 2017 Annual Conference and Exhibition

MC4 - 360 View of Your WIP


Jun 3, 2017 1:00pm ‐ Jun 3, 2017 5:00pm


Standard: $130.00
Members: $91.00

Description

This course provides an in-depth view of the Work in Progress (WIP) schedule. First, this session will cover the basic accounting aspects of WIP – how to calculate, account for, and reconcile costs. Next, it will explore the perspective of an internal analysis covering cash flow related to jobs, management, and analysis tools, as well as estimated costs to complete and projecting future profits using budgeting and forecasting. Finally, learn the significance of your WIP schedule from the third-party user’s perspective and why ensuring its successful performance is necessary to your company's credibility.

Learning Objectives:

  • Define the work in progress (WIP) and percentage of completion (PCM) accounting methods.
  • Demonstrate best practices for internal use and analysis of work in progress (WIP) schedules.
  • Identify external analysis of how 3-party uses such as sureties, banks CPA’s and others to analyze your work in progress.

Speaker(s):

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