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
- 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.
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.
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.
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.
- 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
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.