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Project Managers Guide to Accounting Practices, Cost Controls & Financial Reports (February 20, 2024)**Waitlist Only**

Project Managers Guide to Accounting Practices, Cost Controls & Financial Reports (February 20, 2024)**Waitlist Only**

February 20, 2024 9:30 AM - February 22, 2024 1:00 PM (MST)


Are you ready to learn the accounting and finance essentials that can help deliver your construction projects on time and on a budget? Developed exclusively for the Canadian Construction industry, this course guides Project Managers to understand how overheads, project costs and planned profits are integral pieces in the success of their companies. 

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

This is not a sit and listen event. It is an interactive course with open forums to discuss labour shortages, productivity strategies, revenue/cost accruals, overhead controls and much more.  

Financial understanding is necessary to sustain and improve profits. PMs learn what, why, when and how accountants do what they do. Importance is placed on the processes to ensure 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, close-out evaluations and many more proven methods and strategies.  

In this course you will learn: 

  • The role and ultimate goal of the project manager 
  • Risks and challenges in the construction industry 
  • Why revenue and cost accruals are mandatory processes 
  • The rules - Generally Accepted Accounting Principles  
  • The accounting cycle and mandatory processes 
  • The best policies and tactics to manage accounts receivable  
  • To justify fixed asset acquisitions with future savings 
  • To ensure payment for ALL change orders 
  • Why fixed assets are recorded at historic cost and not market values  
  • Why labour is the most controllable cost in construction  
  • The causes and mitigation techniques of lost productivity 
  • Why the PM report and KPIs are critical management tools 
  • How to navigate the skilled labour shortage 
  • How to mitigate risk through bonding and insurance 
  • Insight into the finance and accounting world through accounting terms 
  • How project post-mortems enhance future projects  

Who should attend: 

Attendance is encouraged for those wishing to learn the fundamentals of finance and accounting, to interpret and react to financial signals, to review, calculate and discuss financial performance and to gain a new sense of confidence when participating with financial professionals.  

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

Very simply, your leaders responsible for any aspect of profitability in your company should take this course because it provides them with a solid understanding of the essential financial aspects of managing any project.   

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 PMs and operating personnel identify unnecessary expenses, increase productivity, manage overhead expenses, analyze financial reports, address labour shortages, improve cash flow and increase profits. 

Instructor – 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 specific techniques; methods and strategies that help contracting companies increase profits, control 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. 

Full disclosure note: 

This course is a spin-off of the Finance and Accounting for Non-Financial Managers and was requested by a large general contractor to include issues directly applicable to Project Managers. As such, there are some duplications of content and thus attendance at both this course and the Finance and Accounting course is not recommended.  

Course Format 

This course will be delivered in partnership with your local construction association and other associations throughout Canada. As such, you will be participating with industry professionals from many provinces.  

Webcams and a computer/laptop are mandatory. This course involves on-screen interaction with your instructor and classmates, reading/viewing on-screen content like slides or videos, and interacting via typing with questions or responses. For this reason, cell-phones or tablets may not be adequate. 

In order to issue course certificates, attendance will be monitored through Zoom “Usage” reports which will show all the attendees in the class and how long they were logged in.  

Please plan to be fully engaged in the class just as you would for attendance in a classroom.  

 Access information and the course manual will be provided to you by your association via email in advance of the training. 

Future offerings of this Course:

June 4 - 6, 2024 - REGISTER HERE


Member: $549.00 + GST

Non-Member: $649.00 + GST

Online using Zoom

Edmonton, AB T5S1M1 Canada
Event Contact
Brittaney Down
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February 20, 2024 9:30 AM - February 22, 2024 1:00 PM (MST)

February 20, 2024 - 9:30 am - 1:00 pm MST 

February 21, 2024 - 9:30 am - 1:00 pm MST 

February 22, 2024 - 9:30 am - 1:00 pm MST

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