Finance and Accounting for Non-Financial Managers

Accountants are not just about numbers. They provide non-financial staff with operating results through reports, analyses, mentoring and recommendations. They can explain the future scenarios that will result with and without corrective action, the suggested improvement strategies, risks and how to reduce them and how to measure effectiveness of the changes. Many contractors focus, rightly so, on operations and are often unaware that a good understanding of finance and accounting can make a significant difference in managing their company and projects. This course offers construction management professionals an extensive understanding of construction and financial management by bridging the gap between construction processes and accounting reports.

This is not a sit and listen event but is an interactive course with hands-on exercises that guide you through each step of the financial process, all designed to make good decisions and improve performance.

LEARNING OUTCOMES

• Learn to forecast cash flows, review accounts receivable strategies, and justify fixed asset acquisitions.
• Understand financial terminology
• Delve into revenue, cost accruals, and their significance in financial reporting
• Get acquainted with Generally Accepted Accounting Principles
• Learn the effectiveness of financial ratios and analyses
• Explore risk management and its mitigation rewards
• Using reports and analyses to monitor strengths and weaknesses
• Learn the real costs of lost productivity
• Forecast revenue to ensure overheads are covered and profit is achieved
• Developing profit and revenue goals
• Create a strong financial awareness in all personnel who attend

Wayne Newell

For over 35 years Wayne provided financial leadership to companies throughout Canada, the United States and the Caribbean. Now retired, he was formerly a designated CMA (Certified Management Accountant). As your course developer and instructor, he has a deep background of experience in accounting - specifically in the area of construction contracting – and is enthusiastic about passing on his industry knowledge and insight.

During his seminars he discusses specific techniques; methods and strategies that help contracting companies increase profits, control costs and improve cash flows. In the past twenty years Wayne has presented his exclusive Construction Management Courses to over 3,500 construction professionals from St. John’s to Victoria.  

• Project managers, Project coordinators, Estimators
• HR Staff, Warehouse Managers, Department Heads
• Gold Seal Candidates, Senior Managers, Owners
• Controllers, Accountants, Administrators
• All individuals who can drive project and company profitability

Webcams and a computer/laptop are mandatory. This course involves on-screen interaction with your instructor and classmates, reading/viewing on-screen content like slides or videos, and interacting via typing with questions or responses. For this reason, cell-phones or tablets may not be adequate.

Access information and the course manual will be provided to you by your association via email in advance of the training.