Financial Controls: Reporting and Forecasting

Module Ref: A11

Duration: 1 day

Aims

To promote an understanding of the need for financial control on civil engineering projects, regular periodic cost/value reconciliation (their preparation and significance) and the process of financial forecasting.

Coverage

  • Financial reporting as an essential part of the decision making process
  • Distinguishing between cost, income, liabilities and value
  • Preparation of cashflow data
  • Analysis of forecast preparation
  • Recording cost and liabilities
  • Allowance reconciliation in cost analysis
  • Cost and value preparation
  • Reconciliation of reports and forecasts

Teaching Outcomes

At the end of the workshop, the delegates will have:

  • An understanding of the need for financial control and reporting as part of the decision making process
  • An understanding of cost control and income generation
  • The ability to prepare and interpret a simple project monthly cost/value reconciliation
  • The ability to prepare and interpret a simple project financial forecast

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