Strong financial management is vital to success in the construction industry. Through lecture, a review of case studies and class discussion, you will learn the basics of construction accounting and will explore a variety of topics, including payroll, purchasing, job costing, revenue recognition, selection of entity structure, insurance, cash management and more. In addition, you’ll be exposed to internal controls and risk management best practices that will help you successfully manage your project finances. By the end of this course, you will have a stronger understanding of financial management principles that will help you achieve greater returns on your projects.

Learning Outcomes

• Apply the basic fundamentals of construction accounting
• Evaluate basics of risk management including insurance coverage and surety
• Distinguish issues of double entry bookkeeping through the use of T-accounts
• Compare options for entity structure and evaluate general income tax implications and concerns

Skills You Will Gain

• Accounting
• Contract management
• Insurance and surety
• Cash management
• Financial statements