Construction Industry Training Network (CITN)

Do you know your numbers and how to use them?  How are you managing labour productivity issues, unwanted costs, high overhead expenses, below-budget profits and one continuous headache with cash-flow?  Developed exclusively for the Canadian Construction industry, this course will help you resolve these issues and a host of others. 

This course delivers immediate results to your profitability as participants develop practical knowledge of key accounting principles, procedures and financial reports. 

So, ask yourself, how much accounting and financial training do you and your management team have?  

In this course, participants will learn how to:

• Calculate your financial strength with just two numbers
• Measure, control and reduce overhead expenses with a simple factor
• Learn why revenue and cost accruals are mandatory processes
• Easily and quickly establish profit goals
• Walk through each of the 4 basic financial statements
• Participate in analyses and discover improvement opportunities
• Justify fixed asset acquisitions with future savings
• Learn the rules – Generally Accepted Accounting Principles
• Learn why fixed assets are recorded at historic cost and not market values
• Recognize why labour is the most controllable cost in construction
• Familiarize yourself with the two main causes of lost productivity
• Learn how to manage cash shortfalls
• Realize why KPIs are essential management tools
• Learn how to navigate the skilled labour shortage
• Learn how to mitigate risk through internal controls, bonding and insurance
• The accounting cycle and mandatory processes
• Learn the terms used in the finance and accounting world
• Appreciate what accountants do and how they think
• Complete some exercises to reinforce some course discussions
• Bridge the knowledge gap for non-financial managers

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. 

Very simply, if any of your project leaders responsible for any aspect of profitability in your company have not been trained to read, produce and analyze financial reports, they should take this course because it provides them with a solid understanding of the major financial aspects of managing any project or company in order to ensure its success. 

The good news is that, for all of the problems we face, there are plenty of solutions to help. One particular solution is this Gold Seal accredited course in which Wayne Newell discusses financial and operational issues he experienced during his 35-year career. The results were more efficient operations that helped contractors identify unwanted expenses, increase productivity, manage overhead expenses, analyze financial reports, address labour shortages, improve cash flow and increase profits.

Delivery Method: Virtual Session – Zoom Platform

Course Fee Includes: Access to the course, course materials, and a digital certificate upon completion.

This course is delivered in partnership with local and provincial construction associations across Canada. You will be participating with a group of industry peers from multiple regions. 

Sharing a single registration between two or more individuals is not permitted. Please register each person that will be in attendance.

Prerequisites

There are no prerequisites to this course.

Who Should Attend

This session would be ideal for: 

• Project managers
• Coordinators
• Estimators
• Department heads
• Field superintendents
• Gold Seal candidates
• Senior managers
• Owners and
• Anyone who can influence project and company profits.

Presenter: 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 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. 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.  He was awarded his CMA designation in 1972.

For support or inquiries, please email [email protected] or call 604-293-2339.