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Finance in Construction

October 11, 2024 from 10:30am to 11:30am Mountain Standard Time

Cira Ballroom BC [Stage D]

Cliff Spickler

Join us for an engaging seminar on Finance in Construction, designed to be interactive and easy to follow. We'll begin with accounting basics, then explore four methods of recognizing revenue and profit, focusing on the Percentage of Completion method as the best fit for construction. We'll delve into over and under billed positions, the movement of cash within a construction company, and ownership of funds. A deep dive into the work in process (WIP) schedule will highlight the roles of various team members and the importance of frequent, honest communication for a contractor's success. We'll conclude with practical daily considerations, a review of the material, and a final Q&A session.

LEARNING OBJECTIVES

  • Understand how profit and revenue are recognized in construction
  • Understand how cash moves through a construction company
  • Have a Clear understanding of the Work in Process Report
  • Understand Your Role in the Work in Process Report

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