HCRA-approved
Financial planning & management
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TAUGHT BY A CHARTERED PROFESSIONAL ACCOUNTANT
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SMALL GROUP SETTING TO FACILITATE LEARNING
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HIGHLY INTERACTIVE SESSION
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ONLY Two AFTERNOONS!
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One Free Exam rewrite included
COURSE DESCRIPTION
Successfully operating a home building business is not a simple task. It can be easy to get lost in the everyday activities and put financial planning on the back burner, but it’s important to know that this aspect of your business is essential and vital to maintain the health of your business. Financial planning and management will help you make more money. It enables you to cut costs. It helps you set and achieve short-term and long-term goals. That’s just some of the things that financial planning and management will do for you.
Course objectives
By the end of the course, you will be able to:
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Explain the difference between bookkeeping and accounting
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Describe basic accounting terminology
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Understand record keeping responsibilities
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Explain overhead costs
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Understand the users of financial information
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Explain basic elements of an income statement and balance sheet
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Describe financial planning
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Describe a business plan
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Explain the relationship between the business plan and financial planning
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Describe financial projections
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Explain the purpose of proforma financial statements
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Describe financial statements
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Explain the purpose of a cash flow statement
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Explain and calculate breakeven analysis
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Describe common pricing strategies
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Describe factors to consider for pricing
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Explain the difference between margins and markups
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Apply margins and markups
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Explain benchmarking
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Identify types of construction financing
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Describe credit arrangements
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Describe collateral security requirements
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Describe a PO system
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Explain the controls for extras and changes
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Explain the purpose of internal controls
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Describe internal control procedures
ADDITIONAL INFORMATION
The course uses the textbook Accounting and Financial Management for Residential Construction, 5th edition by Emma Shinn, published by the National Association of Home Builders. This textbook must be purchased separately. It is available as an eBook from Amazon (Kindle app) and as a print copy at Chapters/Indigo. If you are ordering the print copy, please allow sufficient time for shipping.
ABOUT THE INSTRUCTOR
Jessica lacey,
CPA, CA
Partner and business advisor, MNP
Jessica is Partner and Business Advisor with MNP’s Real Estate and Construction Services team in Markham. Jessica works closely with homebuilders, land developers, condominium developers, and commercial and multi-residential property owners to help them realize their goals, proactively plan for the future and achieve peace of mind.
Drawing on over a decade of experience, Jessica delivers a full suite of assurance, tax and strategic planning services. She brings varying areas of expertise together to problem solve for her clients’ changing needs, particularly relevant for her multi-generational clients. She enjoys often going beyond the conventional scope of accounting to help her clients make strong business decisions.
Jessica earned an Honours Bachelor of Commerce (HBCom) from Lakehead University. She is a Chartered Professional Accountant (CPA), qualifying as a Chartered Accountant (CA). Jessica is also an active member of the Building and Land Development (BILD) Association in the GTA.
Note: This is part of the new HCRA Education Criteria as of February 1, 2021 for new applicants proposing to build residential freehold and low-rise condominium under Part 9 of the Ontario Building Code. For more information on what competencies you need to meet, please visit “HCRA's Getting Registered Page“.
This is a technical workshop intended for persons wishing to become a HCRA registered homebuilder. buildABILITY reserves the right to limit registration to individuals with the necessary demonstrated prerequisite knowledge and expertise.
Our refund policy can be found on our FAQ page.