Business Accounting: A Road Map to Profitability
The financial score card, 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 cost 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.
This course is intended for builders, remodelers, developers, architects, designers, construction trades, and associated industry professionals.
By completing this course, participants 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
This course qualifies for 3.0 CE for AIBD, 3 LUs for AIA, 3 CE for all NAHB Credentials except HCCP.
This course counts as 3 credit hours towards the required continuing education component of the NAHB Certified Master Building and Remodeling Professional Credentials (CMBP and CMRP).
3 AIA/CES LU: NAHB is a Registered Provider with the American Institute of Architects (AIA) Continuing Education Systems. Credit earned on completion of this course will be reported to CES Records for AIA members by NAHB. Certificates of Completion for non-AIA members are available upon request.
