Build on My Existing Knowledge

Since the workplace is rapidly changing, your capacity to learn strengthens your adaptability and helps to position your company for success. CFMA recommends the following programs to help you deepen your knowledge, look at processes with a new lens, and stay current.

CFMA’s Advanced Cash Forecasting workshop is designed for construction financial professionals who have mastered the basic concepts presented in CFMA’s Cash Management module, and who are interested in learning more comprehensive forecasting approaches.

Prerequisites:
This is a group-live program at the Intermediate level. CFMA’s Cash Management course is a prerequisite.

Program Outline:

  • Review of Cash Forecasting Principles
  • Forecasting Volume and EBITA
  • Integrating Cash Forecasting & Annual Budget
  • Developing a Backlog & “Burn-off” Schedule
  • Working with the Cash Flow Forecasting Schedule

Upon completing this course, you will be able to:

  • Forecast Cash long-term;
  • Project “burn-off” beyond current backlog; and
  • Integrate Cash forecasting with budgeting

CPE Credit:
This is a 2 ½ hour course that earns 2 ½ CPE credits in the field of Management Advisory Services.

Who should take this course?
CFOs, Controllers & CFMs with more than 3 years’ experience in construction accounting & financial management.

 

Lead your company’s risk management process with recommendations from an experienced team of construction financial management and risk management experts. This program will deepen your knowledge of the risk transfer process; build a greater understanding of coverage; develop your competency and knowledge of both loss sensitive and guaranteed cost insurance programs; and provide recommendations to help you minimize risk for your firm and reduce the net impact of claims.

Prerequisites:
This program is an advanced program. A basic understanding of insurance products, surety requirements and contract risks along with at least 3 years’ experience in construction financial management are recommended.

Upon completing this course, you will be able to:

  • Articulate the risk management cycle,
  • Demonstrate and apply pragmatic methods of analyzing, purchasing and monitoring loss sensitive insurance programs, including:
  • Assessing the financial impact of a deductible program. Analyze your company’s loss experience to determine the impact of a loss sensitive program, including an assessment of the potential savings and risks, and methods to determine future impact of various loss sensitive plans. Effectively compare deductible or self-insured proposals to guaranteed cost programs.
  • Analyzing how loss reserve development impacts both paid loss and incurred loss programs. Optimize your company’s insurance and risk management programs when working on projects with Wrap-Up (CCIP and OCIP) Programs.
  • Evaluate broker/agent and carrier performance based on objective metrics.
  • Determine and implement best-in-class claims management techniques.
  • Integrate risk management with existing departments, activities, and procedures

CPE Credit:
This course earns 4.0 CPE credits in the field of Business Law


Who Should Take This Course?

  • Accountants and CPAs new to the construction industry
  • New Construction Financial Managers & Controllers
  • Accounting Dept. Support Staff
  • Project Managers
  • Construction Managers
  • Risk & IT Professionals
  • Financial Services Providers
  • Owners

CFMA’s Advanced Cash Forecasting workshop is designed for construction financial professionals who have mastered the basic concepts presented in CFMA’s Cash Management module, and who are interested in learning more comprehensive forecasting approaches.

Upon completing this course, you will be able to:

  • New Rule regarding the White Collar overtime exemptions and minimum salary level; as well as Highly compensated employees and exemptions
  • How to evaluate salaried exempt positions and non-exempt positions and what steps companies might need to do based on new overtime law.
  • When independent contractor relationships are not in compliance with applicable laws and regulations and what companies should do to evaluate their independent contractor arrangements.

CPE Credit:
1.5 CPE credits in the field of Management Services

Suicide Prevention Integration Training: Awareness & Action
Two-Part Program for Chapter Delivery

For more information contact Elizabeth Lachowicz or call: 609-945-2435

Part One: Awareness (2 hours)

Description: In Part One of this two-part program you will increase your awareness of a very critical issue facing the construction industry today – the incidence of suicide deaths of our workforce. You will learn why suicide prevention is crucial to your business, your employees, and their families. Suicide prevention protocols will be required to mitigate the 12 risk factors impacting our workers. This session will increase your understanding of the risk factors of our industry, and what you and your company can do to reduce them. You’ll leave equipped to share this important message back at work and begin the dialogue.


Part One Learning Objectives:

  1. Discuss the business need for addressing Suicide Prevention in the workplace.
  2. Explore underlying issues that create production, safety issues, and performance problems:
    1. Identify suicide risk factors in the construction industry.
    2. Describe mental health issues related to suicide.
    3. Demonstrate how mental illness is a physical illness.
  3. Recognize warning signs and determine appropriate actions to address issues and risks.
  4. Understand and provide access to resources available.

Level & PrerequisitesThis program is open to any and all CFMA members and guests.

CPE CreditsThis program offers CPE credits as may be applicable to your state.

Who Should AttendEVERYONE! CFOs, Controllers, Accountants, Risk/Safety Managers, HR Managers, Construction office staff, and all CFMA Associate Members with Contractor Clients.

 

Part Two: Action (2 hours)

Description: In Part Two of this two-part program you will build on the suicide prevention awareness and business case for suicide prevention discussed in Part One. You will discover how the 12 risk factors common to construction play a critical role in Human Capital Risk Management, and the impact of the Up-, Mid- and Down-Stream approaches to suicide prevention.  Hands-on exercises will help you determine where your company stands in making suicide prevention a part of the health, safety, and well-being of the organization.  You will collaborate with your colleagues to identify actions to be taken, who should be involved, and what obstacles may arise. You will be given specific strategies to implement should one of your employee's attempt or, in a worst-case scenario, die by suicide.


Part Two Learning Objectives

  1. Review the “Why Construction” question/industry risk factors.
  2. Explore the Human Capital element associated with this topic.
  3. Review the Warning Signs attributable to an employee at risk.
  4. Illustrate the Up-, Mid-, & Down-Stream approach to protective systems.
  5. Use a Needs Analysis & Integration Checklist for your organization:
    • Differentiate roles & responsibilities among key company personnel.
    • Develop an Action Plan based on the needs analysis.
  6. Discuss postvention strategies should a suicide or crisis occur.
  7. Identify resources and tools available.

Level & PrerequisitesThis program is open to any and all CFMA members and guests. It is recommended that attendees have taken Part One of this two-part program, or engaged in a Suicide Prevention Summit, or Conference Session.

CPE CreditsThis program offers CPE credits as may be applicable to your state.

Who Should Attend: EVERYONE! CFOs, Controllers, Accountants, Risk/Safety Managers, HR Managers, Construction office staff, and all CFMA Associate Members with Contractor Clients.

Your WIP is more than just a reporting tool; it is a financial management tool for your construction company. This intensive course will provide an advanced view of the work in progress schedule and teach you strategies that will turn unexpected profit fade and enhancements into predictable events.

Prerequisites:
This is a group-live program at the Advanced level. Participants should have at least three years’ experience in construction accounting, in-depth experience integrating construction contracts and estimates into a WIP schedule and a solid understanding of managing the cost review process. CFMA’s “360° View of Your WIP” program is also a recommended prerequisite.

Program Outline:

  • Revenue Recognition
  • WIP as a Dynamic Business Tool
  • Accounting for Long-Term Contracts
  • CMGC Contracts
  • Change Orders/Purchase Orders
  • Profit Fade and Fee Enhancement
  • Job Costing
  • Cost review Process
  • Analysis of WIP
  • Best Practices

Upon completing this course, you will be able to:

  • Explain how your Work in Progress schedule (WIP) is more than just a reporting tool
  • Discuss how different contract types are managed on your WIP
  • Show how to account for self-performed work on your WIP without double counting
  • Discuss change orders/additional purchase orders and how they impact gross profit and revenue expectations
  • Describe the role of the formal cost review process in the outcome of the WIP
  • Discuss WIP analysis techniques, tips and tricks
  • Identify the impact of profit fade and fee enhancements
  • Apply WIP best practices

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


Who Should Take This Course?
This course is designed for C-level executives (including CEOs/Presidents, CFOs, COOs), Controllers, CPAs and Project Managers within construction firms that have a solid understanding of the work in progress (WIP) schedule and a thorough knowledge of construction financial management principles.

 

With the rapid adoption of construction technology, cyber risks are quickly evolving. Cyber- attacks were responsible for 8.5 billion accounts being compromised last year due to ongoing severe data breaches, phishing schemes, and IT outages. In this webinar, we will explore how to identify and respond to cyber threats to your business

Upon completing this course, you will be able to:

  • Learn about cyber breach statistics and costs around record compromises, ransomware, phishing emails, and employee vulnerability.
  • Learn about mitigating your risk through organizational and IT hygiene, cybersecurity protection and business continuity planning.
  • Learn about risk profiling and exposure quantification to identify your risks.
  • Learn about breach costs and the benefits of Cyber coverage.

CPE Credit:
1.0 CPE credit in the field of Information Technology

Effective change order management can dramatically reduce a subcontractor’s risk and increase profitability. Explore the change order process from a subcontractor’s view point and learn how to recognize, scope, price, and negotiate change orders. This webinar will illustrate a mock negotiation.

Upon completing this course, you will be able to:

  • How to properly notify owners and general contractors of changed conditions to reserve your rights.
  • How to scope, price and sell a change order
  • Negotiate strategies to maximize outcomes

CPE Credit:
1.0 CPE credit in the field of Information Technology

This session will explain the purpose of the Mechanic’s Lien laws, and the rights afforded to both claimants and owners. We will discuss how a mechanic’s lien can enhance the likelihood of collection. Participants will identify relevant contract language to be added or stricken as it relates to lien rights, and will identify notice requirements and filing deadlines to preserve lien rights.

Prerequisites:
This is a group-internet based program and the Intermediate level. No prerequisites or advanced preparation required.

Upon completing this course, you will be able to:

  • Identify project or contracts where mechanic’s lien claims may be an available remedy for non-payment
  • Recognize the elements necessary to preserve mechanics lien claims rights
  • Evaluation the effectiveness of preserving and/or prosecuting mechanics lien claims

CPE Credit:
Earn 1 CPE credit in the field of Specialized Knowledge.

Who Should Take This Course?
CEO’s, CFO’s Controllers, Project Managers, Risk Managers, GCs, Subcontractors, Construction Managers, Equipment Suppliers, Sureties, Insurance Agents

Listen to industry expert, Sam Melamed, CEO, ABC Insurance Trust, discuss the compliance specifics for the allowable Fringe Benefits: Health Insurance, Ancillary Benefits, Retirement Plans, Vacation/Holiday and PTO, Apprenticeship Program, Supplemental Unemployment Benefit Plans. Learn the differences between funded and unfunded plans and the approval process for unfunded.

Prerequisites:
his is a Group-Internet based program at the Overview level. No prerequisites or advanced preparation required.

CPE Credit:
1.5 in the field of Management Advisory Services

Who Should Take This Course?
CEOs, CPAs, CFOs, payroll clerks, estimators, HR personnel and those who make financial decisions involving government contracts.

This course will help attendees implement a well-defined business plan that includes the creation of an enterprise budget, along with a backlog & burn-off schedule. Developing an enterprise budget involves a three- step process that includes setting volume expectations, determining overhead manpower and budgeting the overhead expense. In addition, this session will guide attendees on how to effectively utilize a backlog & burn off schedule to forecast and anticipate volume that isn’t currently under contract.

Prerequisites:
This is group-live based program at the Intermediate Level. Some working knowledge of construction accounting is recommended.

Upon completing this course, you will be able to:

  • Outline the processes, tools and strategies used in developing enterprise budgets as part of the company’s business plan.
  • Learn how to include both current backlog and projected backlog in your backlog & burn-off schedules
  • Understand how the backlog & burn-off schedule integrates with the budgeting process

CPE Credit:
Earn 3 CPE credits in the field of Accounting.

Who Should Take This Course?
Controllers, and CFOs of construction companies who want to learn Treasury Management.

 

Educational Partner

CFMA is proud to recognize and thank Sage for being our Educational Partner