Job Cost Reporting & Cost-To-Complete: Critical Tools for Profitable Jobs
0 hour 45 minutes
Is your job cost report created properly and used effectively?
In any construction company job profitability is key to success. With margins becoming narrower due to increased competition, how can you extract the most profit from each job? In this session you will learn why job cost reporting is vital to job profitability. In addition, you will see how cost to complete reports can help you see a job’s future profit potential. Lastly, learn how your Work-In-Progress schedule is more than a financial report.
• You will be able to Identify the keys to job cost accounting. Emphasizing the importance of A/P process, payroll processing and review.
• You will be able to Identify and track key cost components, performance measurements and monitor results.
• You will be able to Learn how to use a cost to complete report and the insight it can provide into future job profit.
• You will be able to Review the use of a Work-In-Progress report and define 4 key components.
• You will be able to Learn how to analyze the WIP; including underbilling, overbillings, and backlog status.
• You will be able to Learn how to use the WIP report as a management tool.