Acct’s Guide to PM

Accountant’s Guide to Project Management

The success of a construction project results from the contributions and strength of the entire team – including accounting and other admin personnel. It requires open communication, understanding and collaboration. Managing, tracking and forecasting the financial results on a construction project require a clear understanding of the project.

This course teaches construction financial professionals the language of construction project management, how the information available relates to each phase of the project, and provides insight on what can go wrong.

 Accountants know their profession but few have ever had the kind of building guidance required in today’s construction climate. This Guide to Project Management fills in the experience gaps most accountants lack to understand project management.

In one classroom day or two half-days online, accountants learn many ways project results can be improved through accounting practices, cost controls and financial reports. To do that, accountants and admin personnel must understand the roles and responsibilities of PMs.

We readily accept accountants and admin staff in their roles. But what if we could identify ways for them to better understand Project Management?

This course, a mirror-image of the Finance and Accounting for Non-Financial Managers’ course, educates accountants and admin personnel on the roles and responsibilities of PMs.

In one full-day, accountants and PMs learn many ways project results can be improved through accounting practices, cost controls and financial reports. To do that, accountants must understand the PM role.

Accountants and admin personnel are led through project management just like PMs were led through Finance & Accounting systems and reports.

Learning outcomes:

  • Roles and responsibilities of PMs
  • Project team members.
  • Cost & revenue accruals.
  • Net present values.
  • Project cash flows.
  • Two main causes, costs and solutions to poor productivity.
  • Skilled labour shortage with emphasis on recruiting and retention.
  • Using gross profit to control overhead.
  • Project evaluations and close-outs.
  • Contracts and revenue types.
  • Job costing.
  • Forecasting costs at completion.
  • Why and how bonding and insurance reduce risks.

Attendance is encouraged for those accountants and admin personnel who wish to learn the challenges of the construction processes. Not only will the construction projects’ performance improve when accountants and PMs work more closely together, each participant will most assuredly gain a much better understanding of construction.

A win-win situation for all involved!

This course was created at the suggestion of a senior PM of a very large General Contractor based in Toronto. In its first offering to LCAs across Canada, 19 attended. Comments were very, very positive and it will be offered again in the fall of 2023 and in subsequent years.

Instructor: Wayne Newell

For over 35 years Wayne served in senior financial leadership roles and worked with companies throughout Canada, the United States and the Caribbean. His experiences and expertise, shared with many companies, has helped owners, managers, employees and businesses grow. In doing so, he has amassed a library of knowledge on what makes a successful contracting company.

During his seminars he discusses his experiences in implementing specific techniques, methods and strategies used to help contracting companies increase profits, control and/or reduce costs and improve cash flows. He has been presenting his exclusive seminars in major Canadian cities since 2003. He was awarded his CMA in 1972.

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  • Upcoming Courses

    ALL courses have been accredited by the Canadian Construction Association.

    Course hours can be used towards the Gold Seal Certification application for credits, subject to credit approval upon review. Note: every 6 hours of learning equals 1 Gold Seal credit.

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    Moncton Northeast Construction Association
    All courses Start at 8:30 am, end at 4:00 pm AST

    Finance & Accounting for Non-Financial Managers
    Tue. & Wed December 12 & 13, 2023
    Tue. & Wed April 9 & 10, 2024

    Profitable Contracting
    Thur. December 14, 2023
    Thur. April 11, 2023

    Strategic Planning for Growth
    Fri. December 15, 2023
    Fri. April 12, 2013

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    ORBA Road Building Academy
    BMO Centre Markham, Ontario
    Week of February 26 to March 1, 2024

    Project Managers Guide to Accounting Practices, Cost Controls and Financial Reporting
    Strategic Planning for Growth

    Presentation dates for the above 2 courses  will be announced soon.

    +++++++++++++++++++++++++++++++++++Local Construction Associations – Collaboration for all of Canada

    All LCA courses are 1/2 day on-line training – Zoom platform

    Start times for all Zoom courses:
    PST – 8:30 am
    MST – 9:30 am
    CST – 10:30 am
    EST – 11:30 an
    AST – 12:30 pm

    Finance & Accounting for Non-Financial Managers
    Fall 2023
    Tuesday – Thursday, October 24, 25 & 26

    Winter 2024
    Tuesday – Thursday, January 23, 24 & 25

    Spring 2024
    Tuesday – Thursday, April 30, May 1 & 2
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    Project Managers Guide to Accounting Practices, Cost Controls & Financial Reports

    Fall 2023
    Tuesday – Thursday, December 5, 6 & 7

    Winter 2024
    Tuesday – Thursday, February 20, 21 & 22

    Spring 2024
    Tuesday – Thursday, June 4, 5 & 6
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    Profitable Contracting
    Fall 2023
    Wednesday & Thursday, Nov. 15 & 16

    Winter 2024
    Tuesday & Wednesday, February 6 & 7

    Spring 2024
    Wednesday & Thursday, May 22 & 23
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    Accountant’s Guide to Project Management
    Fall 2023
    Tuesday & Wednesday, Oct. 31 & Nov. 1

    Winter 2024
    Tuesday & Wednesday, January 30 & 31

    Spring 2024
    Tuesday & Wednesday, May 14 & 15
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    Strategic Planning for Growth
    Fall 2023
    Wednesday & Thursday, Nov. 22 & 23

    Spring 2024
    Tuesday & Wednesday, May 28 & 29

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    Winnipeg Construction Association
    In-Class

    Finance and Accounting for Non-Financial Managers 
    Tuesday & Wednesday May 7 & 8, 2024
    8:30 am to 4:00 pm WPG time

    Accountant’s Guide to Project Management
    Thursday, May 9, 2024
    8:00 am to 4:00 pm WPG time

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