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What You Will Learn at
Project Management: Accounting Administration Seminar
During this fast-paced day, you'll discover:
- The 8 stages of the bid-build cycle ... and the role accounting plays.
- The 7 core business functions of a successful construction business ... and where accounting administration fits in.
- How accounting needs change based on the type and size of project you're doing.
- The 6 elements of effective accounting management.
- How the accounting department should interact with the project management team.
- How accounting affects the 7 stages of the project management cycle.
- The accounting data and reports that are needed at each phase of the bid-build cycle ... clearly illustrated with process maps.
- What the accounting team must do for every job bid and every job awarded.
- The 12 most important accounting-related tasks that the project manager must do on small jobs.
- The 6 top responsibilities of the construction department ... and how often each task must be performed at a minimum.
- The 11 items that the equipment department must provide to maintain accurate records of equipment usage and expenses.
- 5 things a project engineer can do to increase the accuracy of construction accounting.
- The 28 key responsibilities of the accounting department ... and how they affect top executives' ability to lead the company.
- The 8 financial indicators that executives should be monitoring ... and what red flags to look for.
- The 4 components of a job price ... and how the price relates to the budget.
- How to track costs to increase accuracy of future job pricing.
- Who is really responsible for monitoring and controlling costs ... and the tools that should be used.
- How estimating and accounting relate ... and how improvements in either area will boost accuracy and profitability.
- How to build a cost-to-budget report ... and where to find the most accurate data to include.
- What controls your ability to break costs down to a granular level.
- The 2 types of accounts you can have on a cost-to-budget report ... and which type of items to associate with each.
- The 9 most common reasons that accounts should be added to your budget ... and the 3 reasons to delete them.
- 1 element that cannot be changed within your budget (except in 3 special circumstances).
- The 9 most powerful best practices to adopt immediately ... and the mistakes most companies make.
- The best time to establish a cost breakdown structure ... and 4 reasons why.
- 4 things to consider when determining how detailed you should be when breaking down costs.
- The most important thing you can do to assess the current status of your job and forecast the job's cost at completion.
- 8 rules of thumb to follow when determining how granular of a budget to build.
- 5 things to avoid if you want a budget that is easily tracked.
- How often to update your budget.
- The right way to carry out budget changes ... and why this step is a must.
- How often to report cost-to-budget results ... and the 3 things you need to do this correctly.
- What you need to easily and quickly ensure that everyone on your team understands what needs to happen from an accounting perspective.
- How the accuracy of your time sheets affects the accuracy of your company's financial statements - and ultimately its strategic direction and future projects.
- The 6 key elements a time sheet needs to be effective.
- The 4 most recommended best practices that will increase accuracy of your timesheets ... and why most companies refuse to take these steps.
- How to easily and accurately track time and material costs.
- What all subcontractors should be required to do so you can ensure the accuracy of work progress reporting.
- 3 things you cannot do without an accurate account receivables log.
- 2 things you can do to ensure you're paid on time.
- The 13-step process for properly handling accounts receivable.
- 2 powerful tools that make it easier to manage account payables.
A Special Invitation to First Time Attendees
Join us for a 60-minute introductory training session - Introduction to Project Management - before Accounting Administration begins.
This training session establishes the conceptual framework and terminology used in Grantlun's approach to Construction Project Management. As such, it should be attended at least once by everyone attending any of the seminars in Grantlun's Project Management Seminar Series.
Participation in this event, which will be held just prior to the seminar, is included with your registration for no extra charge.
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