360˚ WIP for Construction

This interactive 360° WIP for Construction self-study course provides an in-depth view of the work-in-progress (WIP) schedule. (Previously known as 360° View of WIP) Learn the basic accounting aspects of WIP, including how to calculate, account for, and reconcile costs, and explore the perspective of an internal analysis covering cash flow related to jobs, management and analysis tools, estimated cost to complete, and projecting future profits using budgeting and forecasting. Discover the significance of your WIP schedule from the third-party user’s perspective and why ensuring its successful performance is necessary to the credibility and success of your business.

Upon completion of this course, you will be able to:

• Define and calculate WIP using the cost-to-cost method (CCM) and the percentage-of-completion method (PCM)
• Demonstrate best practices for internal use and analysis of the WIP schedules
• Explain how WIP schedules impact cash flow, budgeting, and forecasting
• Describe how external analysis of the WIP by third-party users such as sureties, banks, CPAs, and others can have a profound impact on the business

Level & Prerequisites
This is an online self-study course at the Basic Level. No prerequisites or advanced preparation is required.

Course Length

The estimated time to complete all three modules and the final exam is a maximum of three hours, depending on the pace of the learner.

CPE Information
Earn 3 CPE credits in the field of Accounting upon successfully completing this course and achieving at least 70% on the final exam.

CCIFP Information
Earn 3.0 CCIFP Professional Development Credits toward the General or Construction Requirement.

CFMA Colleague Discount
If you are a CFMA member who would like to enroll someone at your company who is not a CFMA member, you can do so at a discounted rate. Please contact CFMA at education@cfma.org for more information.

CFMA Group Discount
If you are interested in registering a group of individuals at your company, please contact CFMA at education@cfma.org for group discount information.