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Wearing Your Hard Hat to Analyze Your WIP

$55.00
Member price: $45.00

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Are you having ongoing issues with getting true cost-to-complete numbers on projects? Do you spend a lot of time explaining the work-in-progress (WIP) report to the operations team, so they start to understand how sandbagging could negatively affect a company's accurate forecast? In this course, we will present items to be considered by management while analyzing the WIP report, including complex items like mobilization, costs incurred but not reported, contract assets and liabilities, and stockpile materials. Learn how jobsite visits could be your best tool to improve project reporting and accurate projections.

After this session, you will be able to:

  • Comprehend and improve your understanding of WIP reports and revenue recognition
  • Model how to avoid surprises at the end of your projects by understanding contract assets and liabilities, prepaid costs, and mobilization
  • Explain how job visits would improve your understanding of a WIP and mitigate the project's risks

Level & Prerequisites
This program is an online self-study course that was developed for construction financial professionals with 0-3 years of experience in construction finance. No prerequisites or advanced preparation is required.

CPE Information
Earn .5 CPE credits in the field of Accounting upon successfully completing this course and achieving at least 70% on the final exam.

CCIFP Information
Earn .5 CCIFP Professional Development credits which can be applied to either the General or Construction Knowledge category.

CPE Note
Please note, Wearing Your Hard Hat to Analyze Your WIP was reformatted from a previous session from CFMA’s 2024 Annual Conference and learners are only authorized to claim CPEs for this course once.

Course Length
The estimated time to complete the course and final exam is approximately 50 minutes, depending on the pace of the learner.

Who should take this course?

  • Business Owners
  • CFOs
  • Construction Financial Professionals
  • Contractors
  • Controllers
  • CPAs
  • Professional Advisors
  • Risk Managers
  • Subcontractors

Contributing Developer

  • Jose Parra, CCIFP, CEO, MGH Consulting, LLC

CFMA Colleague Discount
If you are a CFMA member and would like to enroll someone at your company in this course who is not a CFMA member, please contact CFMA at education@cfma.org for more information.

CFMA Group Discount
If you are interested in registering a group of individuals at your company, please contact CFMA at education@cfma.org for more information.