Tuesday, July 9, 2024
3-5 PM (EDT), 12-2 PM (PDT)
This advanced certificate program for construction financial professionals is designed for those looking to deepen their expertise in managing and interpreting project performance through the Work in Process (WIP) schedule. Over five weeks, participants will explore ways to leverage WIP as a tool for better strategic decision making, analyze project risk, and adhere to the unique accounting standards that apply to long term contracts. Case studies focus on relevant real world WIP scenarios, practical applications, and best practices which can be implemented immediately. The goal of this course is to prepare Controllers, CFOs, and Construction Finance Professionals to prepare, interpret, and analyze accurate WIP data. Join CFMA Education for this brand-new certificate program which will equip participants to unlock the full potential of the WIP schedule. 

CFMA’s WIP for Construction Finance Certificate Program is designed as an advanced certificate of completion program to specifically address the work in progress needs of CFPs. 

 The WIP for Construction Finance Certificate Program — which starts on July 9, 2024, and is scheduled on consecutive Tuesdays from 3-5 p.m. ET, 12-2 p.m. PT, concluding on August 6 — is anchored in case studies on WIP and will be presented by leading industry professionals and delivered through live, online modules with interactive exercises that will require participation. A private online discussion community will provide you with the opportunity to share thoughts and engage with participants throughout the program.

Certificate Program modules are as follows: 

• Effective Strategies in Data Integrity, and Preparing an accurate WIP using GAAP
• Integrating GAAP Compliance with Industry Standard Practices
•  WIP Quality Control: Insights from CPA Firm Audits
•  Project Risk Analysis & the Strategic Review of your WIP
•  Maximizing Efficiency in WIP Meetings from a Comprehensive Perspective

Each module will unpack a unique case study and will require your participation via live roundtable discussions, group assignments, and communication forums. Participants will receive a case study to read and review prior to each live session. The WIP for Construction Finance Certificate Program will conclude with a final activity in which participants are required to submit a one-page summary demonstrating knowledge learned. Upon successful completion of the program requirements, participants will receive a certificate of completion in the form of a digital certificate as well as earn CPE credits.

By the end of this module, participants will be able to:

• Cultivate a trusting and communicative environment between finance and operations
• interpret the details of WIP schedules critically and develop targeted questioning strategies to address specific issues
• Leverage the WIP meeting to gain comfort over the cost to complete and address sensitive topics, such as profit fade or aggressive estimates
• Integrate processes for change order follow up and accountability into WIP Meetings
• Utilize data to support communications, validate WIP inquiries and evaluate responses

Level & Prerequisites
This is a group internet-based course at the Advanced Level. Pre-reading and preparation are required before participating in each module of the program. 

CPE information
Earn 2.0 CPE credits for attending each session, with a total of 10.0 CPE credits in the field of Accounting upon completion of the entire program. 
(CPE can only be earned by attending the live session. CPE is not available by watching the recording.)

CCIFP information
Earn 2.0 CCIFP Maintenance Credits for attending each session, with a total of 10 CCIFP Professional Development Credits towards the General or Construction Requirement.

Who should attend?

• Business Owners
• CEOs
• CFOs and Controllers
• CPAs
• Construction Financial Professionals
• Professional Advisors
• 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.