PROJECT ACCOUNTING PROFICIENCY

Tickets
From ₦ 145,125.00 to ₦ 220,375.00
× Tickets
Live-Online Training:
₦ 145,125.00 145125.0 NGN
Classroom Training:
₦ 220,375.00 220375.0 NGN

Live-Online Training: N145,125
Classroom Training: N 220,375
3 - 4 participants: 5% discount
5 or more participants: 10% discount

(Available also for Customised Training by Duration, Venue & Fee)

Programme Description

A Project Accountant typically manages the forecasting of the capital and operating budgets of a project, in addition to reviewing project performance in consultation with management and stakeholders.


The Project Accountant also supports the project team, make contributions when contract modifications become inevitable and collects and tracks compliance documents.

Benefits of the Training

By the end of this training, candidates who participate in it will:

Get insights into costs, bids and scope relating to any project

Improve their resource management capabilities

Know how to stay updated on project’s progress and profitability

Be able to identify issues with projects early so as to respond quickly

Be able to educates project team on project cost and profitability

Help to improve financial management of the organization

Be able to reduce overall project risks and costs.

Course Contents
DAY ONE

An Understanding of Project Accounting Principles

  • Distinguishing Project Accounting from Financial Accounting
  • Cost Principle
  • Matching Principle
  • Consolidation Principle
  • Full Disclosure Principle
  • Prudence Principle
  • Liability Principle
  • Control Principle
  • Resource Allocation Principle.


Revenue Recognition Methods in Project Management

  • Sales Basis
  • Installment
  • Percentage of Completion
  • Completed Contract
  • Cost Recoverability.


Essential Functions

  • Managing all accounting functions assigned to a Project
  • Assisting project team in a variety of ways
  • Generating project Payroll, Receivables, Payables
  • Project job status review - Contract Status, Job Cost and modifications.

DAY TWO

Project Budget Forecasting and Accounts Administration

  • Creating Project Budget Forecasts with Excel
  • Excel formulas and techniques for Project Budgeting
    • Custom formatting numbers
    • Formula Debugging & auditing techniques
    • Data validation
    • Consolidating and linking Excel Workbooks
  • Preparing capital costs, working capital and project tax administration
  • Ensuring a steady cash flow in a timely manner

  • Issuing invoices and purchase orders
  • Managingsupplier payments and financial compliance for projects.

DAY THREE

Project Accounts Controls and Reporting

  • Preparing pre-billing reports for project managers
  • Reporting on staffing, work plans, resources and fee structures
  • Updating contracts according to requirements
  • Reviewing and updating budgets amendments.
  • Monitoring receivable income and supporting project managers with collections.

  • Preparing financial reports to provide reliable andtimely information
  • Taxation reports.


Date & Time
Monday
November 11, 2024
Start - 8:30 AM
Wednesday
November 13, 2024
End - 3:00 PM Africa/Lagos
Location

Tom Associates Training

5/7, Alade Lawal Street, Opposite Anthony Police Station, Off Ikorodu Road, Anthony Village,
NG-LA
Nigeria
+234 817 859 1654
+234 809 276 3968 | +234 810 365 2225
tomassociatestraining@yahoo.com | info@tomassociatesng.com
Get the direction
Organizer

Tom Associates Training

+234 817 859 1654
+234 809 276 3968 | +234 810 365 2225
tomassociatestraining@yahoo.com | info@tomassociatesng.com