Instructor: Michael Strong

The financial scorecard, or measurement of an owner’s or a company’s success, is based on managing your finances effectively. This course provides you with the basics of financial planning, budgeting, construction business accounting, job cost systems and financing options that will enable you to track and analyze costs of goods, overhead and individual job costs as well as communicate about them effectively. Topics include accounting terminology, a chart of accounts, types of records and reports to be maintained and loan products that can provide financing alternatives.

Participants in this course will be able to:

• Define concepts and terminology basic to construction business accounting
• Describe the value and use of common financial reports in measuring business performance, job cost accounting and variance analysis
• Explain the importance and process of measuring and analyzing job cost against performance
• Identify the essentials of operating capital funding methods
• Identify common construction and permanent mortgage products and the relative builder/client positions
• Recognize the differences between active and passive income endeavors
• Access templates for a personal budget, a company budget, a chart of accounts, an income statement and balance sheet reports