PM Guide to Acct.

Project Manager’s Guide to Accounting Practices, Cost Control and Financial Reports



Project Managers have a major role in delivering projects on-time and on-budget. In fact, the success of their companies depends on it. They may stumble if they do not have a clear understanding of how overheads, project costs and planned profits are integral pieces of a project’s “success”. 

In two classroom days, Wayne Newell draws upon 35 years of financial and construction-contracting experience to help them recognize problem projects, identify unwanted expenses, increase productivity, manage overhead expenses and address labour shortages. With a clear understanding and appreciation of the financial side of the business, projects will be delivered on-time and on-budget.

The major issue facing contractors’ productivity today is the forecasted labour shortage by 2030. This course identifies a number of the major causes and offers methods to resolve them with a focus on attracting skilled workers, young people and women to your company.

This is not a sit and listen event. It is an interactive course with hands-on exercises that walk you through each step of the financial process Open forums to discuss labour shortages, labour productivity strategies, revenue/cost accruals and overhead expense controls will reinforce these topics.

Financial understanding is necessary to sustain and improve profits. PMs learn how and why accountants do what they do and how PMs contribute to accounting processes, financial reviews and reports. Importance is placed on the processes to ensure the monthly financial reports are consistent and reliable.

Cost control is critical to project performance. PMs learn the causes, costs and remedies of low productivity, overhead expense controls, impact of revenue and cost accruals, methods to support equipment acquisitions, project close-out evaluations and many more proven methods and strategies.

Your comprehensive course manual filled with the methods and strategies you need for your business, will serve as your reference guide.

Since its development and introduction in 2019, almost 200 construction professionals have benefited from this exclusive course.


  1. Financial processes
  2. Accounting standards and principles
  3. How revenues and cost accruals ensure reliable financial reports
  4. Controlling overheads
  5. Project cash flows and Net Present Value calculations
  6. 10 Profit requirements
  7. Income statement
  8. Productivity improvement methods
  9. Job costing and cost controls
  10. Financial reports
  11. Risk management

Learning Outcomes

  • Forecasting project cash flows
  • Developing revenue accruals
  • Learning correct financial terminology
  • Using financial reports to make project decisions
  • Understanding the need for cost accruals
  • Using reports and analyses to monitor strengths and weaknesses
  • The real costs of lost productivity
  • Controlling overhead costs with gross profit factors
  • Developing profit plans and revenue goals
  • Increased profits and improved cash flow
  • And, much, much more.

Who Should Attend

  • Every manager can benefit from this course
  • Project managers and coordinators
  • Administrators
  • Employees involved in any aspect of project management
  • Gold Seal candidates

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.

In the past eighteen years he has presented his exclusive Construction Management Courses to over 3,500 construction professionals from St. John’s to Victoria.  He was awarded his Certified Management Accountant (CMA now CPA) designation in 1972.

With over 35 years financial and construction experience, Wayne has amassed a library of knowledge on what makes a successful contracting business. Since 2003, he has been presenting his exclusive contracting seminars in most major Canadian cities. 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.


    Moncton Northeast Construction Association – Online
    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


    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
    Feb. 28 & 29, 2024

    Strategic Planning for Growth
    March 1, 2024


    +++++++++++++++++++++++++++++++++++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
    NST – 1:00 pm

    Finance & Accounting for Non-Financial Managers
    Winter 2024
    Tuesday – Thursday, January 23, 24 & 25

    Spring 2024
    Tuesday – Thursday, April 30, May 1 & 2

    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

    Profitable Contracting
    Winter 2024
    Tuesday & Wednesday, February 6 & 7

    Spring 2024
    Wednesday & Thursday, May 22 & 23

    Accountant’s Guide to Project Management
    Winter 2024
    Tuesday & Wednesday, January 30 & 31

    Spring 2024
    Tuesday & Wednesday, May 14 & 15

    Strategic Planning for Growth
    Spring 2024
    Tuesday & Wednesday, May 28 & 29


    Winnipeg Construction Association

    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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