I just got back from the CFMA National Conference in Atlanta and was thinking of two things:
1. Had great feedback on having 3 WIP seminars at the conference. WIP is very popular and we all cannot get enough of it!
2. Took a seminar on how educating your employees is very important to retention. Employees want a "Culture of Learning".
What better way to have a culture of learning than brining a great WIP seminar to your employees, or for yourself if you couldn't make the conference or didn't take the WIP seminars!
Log into your CFMA account and choose this link:
CFMA ON DEMAND WIP 360 . This on demand course offers CPE Credits!
Description
This interactive 360° View of WIP eLearning course provides an in-depth view of the work-in-progress (WIP) schedule. Learn the basic accounting aspects of WIP, including how to calculate, account for, and reconcile costs, and explore the perspective of an internal analysis covering cash flow related to jobs, management and analysis tools, estimated cost to complete, and projecting future profits using budgeting and forecasting. Discover the significance of your WIP schedule from the third-party user's perspective and why ensuring its successful performance is necessary to the credibility and success of your business.
Learning Objectives
Upon completion of this course, you will be able to:
- Define and calculate WIP using the cost-to-cost method (CCM) and the percentage-of-completion method (PCM)
- Demonstrate best practices for internal use and analysis of the WIP schedules
- Explain how WIP schedules impact cash flow, budgeting, and forecasting
- Describe how external analysis of the WIP by third-party users such as sureties, banks, CPAs, and others can have a profound impact on the business
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Kimberly Hullfish CCIFP, CRIS, MBA
Director of Accounting & Compl
C. Abbonizio Contractors Inc.
Deptford, NJ
(856) 228-2600
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