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Wearing Your Hard Hat to Analyze Your WIP - Recording
$79.00
Member price: $55.00
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Are you having ongoing issues with getting true cost to complete numbers on projects? Do you spend a lot of time explaining the WIP to the Operation team, so they start to understand how sandbagging could negatively affect a company's accurate forecast? In this session, I would present items to be considered by management while analyzing the work-in-progress report (WIP), including complex items like mobilization, costs incurred but not reported, contract assets and contract liabilities, and stockpile materials. Learn how job site visits could be your best tool to improve project reporting and accurate projections.
Learning Objectives
Improve the understanding of a work-in-progress report and revenue recognition.
Avoid surprises at the end of the projects by understanding the contract assets, contract liabilities, prepaid costs, and mobilization.
Job visits would improve your understanding of a WIP and mitigate the project's risks.
Course Length
The estimated time to complete the course is approximately 75 minutes, depending on the pace of the learner.
Topics:
Accounting
Income Recognition
Cash Management
Construction Management
Speaker:
Jose Parra