Budgeting Process for a Construction Company - Win27
Topics covered: Calculating budget line items, analyzing budget variances, and the bidding process.
Subcategories covered: Training Not Specific to the Performance of Work
Overall Objective
Be able to prepare projected financial statements and analyze budget variances.
Specific Objectives
- Become familiar with budget calculation methods;
- Select the budgeting method that best suits the company's budget line items;
- Calculate budgets and prepare projected financial statements;
- Calculate budget variances;
- Interpret budget variances;
- Identify the financial components of a bid and assess whether it is appropriate to “negotiate” a final price.
Contents
Participants will become familiar with financial terminology and develop their ability to manage the budget cycle of a company operating in the construction industry.
Budget process: Projected balance sheet, projected income statement, traditional method, ratio method, account trend method, sales percentage method; budget variances, fixed costs, and variable costs.
Submission: Variable construction costs, variable operating costs, indirect variable costs, fixed construction costs, fixed operating costs, profit margin, profit percentage.
Cancellation / Modification
All requests to cancel or modify an activity must be made in writing.3 working days before the event. QPAT retains the full amount of the registration fee if the request to cancel the activity is made by2 working days or less.
In all cases, APECQ agrees to modify the activity at no charge. In addition, it is possible to be replaced by another person to whom the certificate will be sent.
APECQ reserves the right to cancel any training activity. In such a case, ACOEQ's sole responsibility will be to refund in full the registration fees paid by the participant.