Attendees will have FUN as they work through a case study and uncover the math mystery buried in the WIP. Students will calculate each column by hand to see where the numbers come from and recognize which numbers provide the key information. The key information will spotlight problems and opportunities contained within the numbers of a financial report. Attendees will increase their financial fluency and be able to communicate more effectively to get the right information to make projects more profitable.
Learning Objectives:
• How project managers impact the company income statement and balance sheet
• How the WIP can effect year end profits and cash flow
• Overbillings and underbilling's and the impact of each
• Analyze the difference between gross profit % and mark up %
• WIP Case Study explaining what each column represents and where the math
comes from
• Explain what percentage of completion accounting is and why it is used