360° View of Your WIP Joint Program with NECA

When:  May 21, 2018 from 7:30 AM to 12:00 PM (CT)
Associated with  Chicago, IL

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Join CFMA Chicago Chapter and members of the Northeastern Illinois Chapter of NECA, for an in-depth view of the Work in Progress (WIP) schedule.

The first half of the course will cover the basic accounting aspects of WIP – how to calculate, account for, and reconcile costs. In part two we will explore the perspective of an internal analysis covering cash flow related to jobs, management and analysis tools, estimated costs to complete and projecting future profits using budgeting and forecasting. Finally, you will learn the significance of your WIP schedule from the third party user’s perspective and why ensuring its successful performance is necessary to the credibility of your business.

Instructors:
Shawn Erickson, CPA CCIFP, C.J. Erickson Plumbing
Mary Davolt, CPA, CCIFP, Pernix Group

Prerequisites:
This is a group-live program at the Intermediate level. A solid understanding of construction accounting and CFMA’s Basics of Construction Accounting course are recommended prerequisites.

Program Outline:

  • WIP Accounting
  • Internal Analysis
  • External Analysis

After completing this course, you will be able to:

  • Define the work in progress (WIP) and percentage of completion (PCM) accounting methods;
  • Demonstrate best practices for internal use and analysis of work in progress (WIP) schedules;
  • Identify external analysis of how 3-party uses such as sureties, banks CPA’s and others to analyze your work in progress.

CPE Credit:
This course earns 4.0 CPE credits in the field of Accounting.

Who Should Take This Course?
Controllers, CFOs, Project Managers, Project Estimators, and anyone who needs a better understanding of a WIP schedule.

 

NASBAThe Construction Financial Management Association (CFMA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: Web site: www.learningmarket.org.

Location

Maggiano's Oak Brook
240 Oakbrook Center
Oak Brook, IL 60523
Event Image

Contact

Deb Hypke
(815) 806-4908
dhypke@managementservices.org