About

CFMA Members, please join us for our 2019 Annual Year End Update. This year we will be covering ethics, risk management, assessing your networking skill, technology, and how to survive the next economic downturn. We are excited to have such a diverse and interesting range of topics.For those of you who were eagerly anticipating rev rec or lease standards you will have to lookout for future general or roundtable monthly meetings. This event will be perfect for all accounting, risk management, and upper management personnel.Attending this event provides 8 hours of CPE. The Construction Financial Management Association (CFMA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

Schedule

Friday, November 22nd
7:30 am - 8:00 am
Check-In and Breakfast
8:00 am - 9:40 am
Networking Assess Your Networking Skills
Keri Stewart, Results 4 Business

- Rundown: If you’ve ever felt awkward in Networking situations or unsure of what you should do, you are not alone. In this session, participants will have the opportunity to take several assessments to determine current behaviors and emotions on how they handle themselves now. They will also receive tips and best practices on what they can do differently to increase their networking skills and build critical relationships. Learning Objectives: 1. How to assess the effectiveness of your current networking capability and where you want them to be. 2. Best practices and tools to keep in mind and use before and during a networking event. 3. Realization of just how often we find ourselves in a networking situation and the value of being able to comfortably and effectively navigate those waters.

9:40 am - 9:50 am
Break
9:50 am - 11:30 am
Regulatory and Situational Ethics for the Construction Industry
Ray Roberts, CRI

An overview, with examples, of what financial professionals may encounter as ethical situations in the course of their duties. Within the industry and profession as they are and with talk of a looming economic downturn decisions can often get closer and closer to the "line." Many regulatory bodies have developed ethical codes and frameworks, we will discuss a selection of them at a high level and how a framework can be used during decision making. Learning Objectives: 1. Review of the CCIFP Code of Ethics and review of regulatory ethics. 2. Recognizing situational dilemmas - what's legal may not be what's right. 3. Developing a conceptual framework to apply in all situations, grey area or not.

11:30 am - 12:10 pm
Lunch
12:10 pm - 1:00 pm
Contractual Risk Transfer in Construction Contracts
Mark & Brian Menicucci and Tracy Duran, Menecucci Insurance Agency

Contractual Risk Transfer is the shifting of responsibility from one party to another in a construction contract. This is a part of the business Risk Management Process and a technique that businesses should have knowledge of and use when possible. Transfer of risk is integral in the construction process and both parties should have the knowledge and understanding necessary to evaluate and negotiate risk transfer in any contract they are involved in. Learning Objectives: 1. Identify exposures to loss from property, personnel, net income, and third-party liability. 2. Examine all techniques available and make the best selection for the situation. 3. Implement the chosen technique and monitor the success or failure in order to make course corrections as needed.

1:00 pm - 1:10 pm
Break
1:10 pm - 2:00 pm
Surety Bond Basics for Contractors
Mark & Brian Menicucci and Tracy Duran, Menecucci Insurance Agency

As complicated an issue as bonding can be, it is absolutely that construction firms understand the various types of bonds, what their function is in the industry, how to secure them, and finally how to not run in fear of them. Bonding serves an important role in protecting the end user and shouldn't be something to fear but instead contractors should use them to their advantage. This intro to bonds will provide a foundation for any contractor interested in learning or refreshing their current knowledge. Learning Objectives: 1. Identifying the different types of bonds and discussing their purpose and when they may be most advantageous. 2. The process for obtaining a bond, the cost and requirements that must be met to hold a bond. 3. Avoiding default through business practices and a relationship with the Surety and what are the reasons and signs of a subcontractor failing along with the liability implications that follow. 4. The claims process and how to establish an In-House Bonding Policy.

2:00 pm - 2:10 pm
Break
2:10 pm - 3:00 pm
Accounting Technology Update for 2020 and Beyond
Chris Henderson, REDW

- Description: Today's Accountant is as much technologist as accountant. Make sure you're prepared for the future by staying on top of these trends, techniques, and tools. While some in any given company let technological trends pass them by, accountants cannot fall behind or allow their companies to lag. Technology is changing the face and landscape of business yearly and those who fall behind can become irrelevant or find themselves missing opportunities. Learning Objectives: 1. Understand the potential impacts to your organization of selected technology trends 2. Calculate a "soft-cost" ROI to your organization to adopting new technologies 3. Find more information on important tech trends so you keep up to date throughout the year

3:00 pm - 3:10 pm
Break
3:10 pm - 4:00 pm
Preparing for the Next Economic Downturn
Clarke Cagle, Atkinson & Co.

The US Economy has experienced an unprecedented bull market which has now over 10 years long. The cyclical nature of economics after sustained growth inevitably lead to periods of decline and recession. As overdue as the US is for an economic downturn it’s difficult to predict with certainty the exact timing and for what event(s) will initiate a recession to strike and what sectors will feel the effects first and the hardest. As complicated and multi-factored as economic forecasting and evaluation is, we can still take an active role in planning ahead including monitoring key indicators, especially at a local level, and developing strategies and techniques within your construction company to help scale and re-tool to survive during the next economic hardship. Learning Objectives: 1. Understand key leading economic indicators to predict and recognize the coming of next economic downturn. 2. Examine and determine company operational and budgetary techniques available to fiscally survive a downturn for construction contractors. 3. Develop and implement procedures to plan ahead for the next recession and monitor timely course corrections for a construction contractor.

Speakers

Keri Stewart, CPBC
Keri Stewart, CPBC
Founder
Results 4 Business
Our speaker today is engaging, energetic, enthusiastic, and has a passion helping others plan, set and reach goals they did not realize they could. Keri Stewart, founder of Results 4 Business, loves growing beautiful, peaceful gardens in her backyard, enjoys the hilarious antics of their 3 terrier dogs and painting. Her love for growing translates well into her profession…growing and cultivating leaders and their teams. Since 2004, she is a certified and successful business coach; international, award winning facilitator, who has trained and coached tens of thousands of employees at all levels. She specializes in creating cohesive operational plans from the corner office to the front line. Her professional training programs range from polishing presenters to become compelling and memorable, improving communication, increasing sales, boosting employee productivity and elevating customer service. She helps her clients get rid of the distractions, gain crystal clear focus on what is important and quickly zeroes in on where they can make the biggest results happen personally and professionally. She is a board member and active on the mentoring and events committees with CREW New Mexico - Commercial Real Estate Women. Some of her clients include Enterprise Builders, Colliers, Stewart Title, Sandia National Labs, US Bank, Brandt and Acoma Business Enterprises. Help me welcome one of Albuquerque Business First's 2018 Women of Influence, Keri Stewart.
Clarke Cagle, CPA, CCIFP, CGFM
Clarke Cagle, CPA, CCIFP, CGFM
Audit Director/Shareholder
Atkinson & Co.
Clarke is an Audit Director/Shareholder with Atkinson & Co. and specializes in providing attest, tax and consulting services for contractors, real estate entities and homebuilders, state and local governments, government contractors, and other commercial clients. Clarke has presented on a number of topics for CFMA for over 20 years and will cover the technical aspects of revenue recognition – practical considerations for implementation. Clarke is a Certified Governmental Financial Manager (CGFM) and a Certified Construction Industry Professional (CCIFP), which distinguishes financial professionals who have demonstrated the knowledge and ability (i.e. pass a test) in the industry. He is a longstanding member of several construction related associations including CFMA, ABC, AGC, and ASA, and is the Chair of the CFMA's Construction Education Committee in New Mexico. He taught the Albuquerque CFMA Chapter’s Construction Accounting 101 to working accountants, controllers and bookkeepers for over 15 years. He is a former board member of ACE Leadership High School and the New Mexico Philharmonic. Atkinson & Co.’s practice philosophy is to provide the highest technical expertise and personal service on each engagement so that our clients receive excellent value from working with our staff.
Chris Henderson, CPA, CCIFP, CITP
Chris Henderson, CPA, CCIFP, CITP
Senior Manager / Management Advisory & Accounting Services
REDW, LLC
Experience: Chris is one of the practice leaders for REDW’s commercial Management Advisory & Accounting Services. Chris has over ten years of finance and accounting experience specializing in Construction and other commercial clientele, including roles in both public accounting and as a Controller/CFO for a nation-wide energy service company and New Mexico’s largest general contractor. Chris has spent his career engineering accounting resources to become a competitive advantage for their respective organizations, driving profitability through improved data accuracy and availability. Chris also has experience with system implementations and the integration of third-party software packages with existing accounting information systems to eliminate redundancy, reduce manual input, and streamline reporting and analysis. Professional Qualifications and Memberships: In addition to being a Certified Public Accountant, Chris is a Certified Construction Industry Financial Professional (CCIFP). Chris has assumed leadership positions and achieved accolades in the following professional associations: • American Institute of Certified Public Accountants, Member • New Mexico Society of Certified Public Accountants, Member Education: Chris holds a Bachelor of Science in Business Administration from Boston University’s Questrom School of Management. He is licensed to practice as a CPA in the State of New Mexico (CPA License # 6354), holds a CCIFP (Certified Construction Industry Financial Professional) since 2009, and is a CITP (Certified Information Technology Professional) since 2012.
Ray Roberts, CPA
Ray Roberts, CPA
Partner-in-Charge & Industry Line Leader
CRI CPAs and Advisors
Known and regarded for his straightforward and unassuming manner, Ray provides his clients with a no-nonsense, high-quality service in the areas of accounting, auditing, employee benefit plan auditing, and tax services for private companies. Ray is a former member of the AICPA Peer Review Board, as well as the PCPS Peer Review Committee. He has served as the Chairman of the AICPA Oversight Task Force for the Peer Review Board, as well as the PCPS Executive Committee and the AICPA Government Audit Quality Center Executive Committee. Ray has been involved in the formation of Professional Standards in the area of quality control and has served on the AICPA Ethics Committee. Ray is a member of the American Institute of Certified Public Accountants (AICPA), the New Mexico Society of Certified Public Accountants (NMSCPA), the AICPA Government Audit Quality Center, and the AICPA ERISA Audit Quality Center.
Brain Menicucci
Brain Menicucci
President
Menicucci Insurance Agency, LLC
President and Managing Member of Menicucci Insurance, Brian Menicucci started his business career in 1999 at the public accounting firm, Muehlmeyer P.C. Certified Public Accountants and Consultants. His insurance career started in 2002 with Summit Global Partners, Inc., working with a team that built a book of premium that was in excess of $15 million. His individual book of business was comprised of construction, onshore energy, professional (medical and non-medical), and defense contractors. In 2007, Brian founded Menicucci Insurance Agency, LLC with a vision of being the best independent agency of choice by having a reputation of no nonsense, working face to face with clients, and specialty expertise. Brian has expertise in performing risk management services and providing insurance products for contractors, international government services and defense contractors. He enjoys working closely with his clients, ensuring their risk management and insurance goals are established and achieved.
Mark Menicucci
Mark Menicucci
CEO
Menicucci Insurance Agency, LLC
Owner and CEO, Mark Menicucci started his insurance career in 1978 selling life insurance with AON. He later worked for Summit Global Partners, Inc. in 1996, leading a team that built a book of premium that was in excess of $15 million. Mark was one of three producers throughout the United States to be awarded the Summit Council six times. Mark has extensive experience in all areas of insurance and risk management, including international defense contractors, high-tech companies, construction, oil and gas, energy, complex and high-hazard industries, grocery stores, large manufacturing, medical malpractice, and all aspects of healthcare. With over 40 years of experience, Mark’s leadership has been integral in developing our core values at Menicucci Insurance. We are committed to protecting your business with coverage at the most competitive rates, and ensuring it will be upheld with the highest level of expertise and service.
Tracy Duran
Tracy Duran
Bond Manager
Menicucci Insurance Agency, LLC
Tracy brings over 39 years of experience in insurance/surety to the Menicucci Insurance Agency. She has specialized in surety the last 25 years and also continues to work on insurance. Her creativity for strategic planning, analysis, risk assessments and market analysis to mitigate short and long term objectives for obtaining surety credit is well known in the industry. She always has her client's best interests in mind which makes her a critical part of our agency. The underwriter's terms are always renegotiated to get the most surety credit, best rates and terms available. She has expertise in handling large complex accounts in oil and gas, construction, manufacturing, mining and healthcare industries. Tracy has been instrumental in placing many difficult risks for surety credit and insurance. She also enjoys helping emerging contractors establish themselves in the marketplace. Tracy is currently a CRIS (Construction Risk Specialist) and she continues to work on property and casualty business in addition to running the Surety Department

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