CFMA’s technology upgrades are live! As you explore the new education and certification experiences, visit cfma.org/faq to help answer questions you may have! Thank you in advance for your patience as we squash any bugs in the new platforms.
More Info
CFM Academy - On-Demand CPE
$675.00
Member price: $538.00
Purchasing on behalf of another customer?
If you are interested in purchasing a product on someone's behalf or need to place a bulk order, please contact CFMA Education at education@cfma.org or call 609-452-8000, press 3 for Education.
Are you new to the construction industry or have less than three years of experience in construction financial management? The CFM Academy is your gateway to mastering the essentials of construction finance. This comprehensive interactive self-study program is meticulously crafted to equip you with the critical knowledge and skills needed to excel in the construction industry. Divided into six engaging modules, each delves into the unique aspects of construction financial management: Revenue Recognition, Cash Management, Project Management, Risk Management, Contracts, Work-in-Progress (WIP). Whether you're looking to become more proficient in construction financial management or to ensure your new finance team members are well prepared, the CFM Academy addresses the complexities and nuances of construction finance.
* You will have access to this content for 365 days from the date of purchase or enrollment.
* You will have access to this content for 365 days from the date of purchase or enrollment.
Learning Objectives
After completing each module in this course, you will be able to:
- Develop a comprehensive understanding of construction accounting terminology and revenue recognition methods, including the impact of over/underbilling, change orders, and claims on financial statements and work-in-progress schedules.
- Master the principles and practices of effective cash management by utilizing tools, implementing internal controls, and applying sound management techniques to optimize financial operations.
- Gain proficiency in managing the entire project life cycle, from opportunity identification to closeout, by fostering team collaboration, understanding contract documents, and emphasizing managerial communication to enhance project outcomes.
- Acquire the ability to integrate risk management strategies into construction projects by evaluating insurance products, collaborating with partners, and leveraging risk management as a competitive advantage throughout the project and strategic life cycles.
- Attain expertise in the legal aspects of construction by understanding the purpose and types of contracts, analyzing clauses for potential issues, and efficiently utilizing legal assistance and alternative dispute resolution methods.
- Develop the skills to effectively manage the WIP schedule as a critical component of financial reporting and project profitability, emphasizing the importance of job cost systems, formal cost reviews, and accurate forecasting.
- Develop a comprehensive understanding of construction accounting terminology and revenue recognition methods, including the impact of over/underbilling, change orders, and claims on financial statements and work-in-progress schedules.
- Master the principles and practices of effective cash management by utilizing tools, implementing internal controls, and applying sound management techniques to optimize financial operations.
- Gain proficiency in managing the entire project life cycle, from opportunity identification to closeout, by fostering team collaboration, understanding contract documents, and emphasizing managerial communication to enhance project outcomes.
- Acquire the ability to integrate risk management strategies into construction projects by evaluating insurance products, collaborating with partners, and leveraging risk management as a competitive advantage throughout the project and strategic life cycles.
- Attain expertise in the legal aspects of construction by understanding the purpose and types of contracts, analyzing clauses for potential issues, and efficiently utilizing legal assistance and alternative dispute resolution methods.
- Develop the skills to effectively manage the WIP schedule as a critical component of financial reporting and project profitability, emphasizing the importance of job cost systems, formal cost reviews, and accurate forecasting.
Prerequisites
This is a Basic level online self-study course that was developed for professionals with 0-3 years of experience in construction finance. No prerequisites or advanced preparation is required.
CPE Credits
7 CPE credits CPE credits
CPE/CCIFP Information
Earn 7 CPE/CCIFFP credits upon successfully completing this course and achieving at least 70% on the final exam.
Course Length
The estimated time to complete the course is approximately 360 minutes, depending on the pace of the learner.
Who Should Attend:
Field of Study:
Accounting
