Schack Institute of Real Estate
Construction Financial & Cost Control
The course covers financial accounting and cost control concepts with the integration and management of both the construction company and project level revenue and expenses. Reviews the management of Risk and how to avoid mistakes. Reviews the procurement of subcontractors, material, and equipment and labor portions of the construction projects. The use of cost control to monitor (1) the owner¿s budget (2) General Conditions expenses (3) profit margins (4) Change Orders and their impact on the project budget. Shows how to submit requisitions and the requirements for having adequate waiver of liens and proper insurance. Reviews the consequences of tax law and its application to the construction industry and the implication of the type of corporation that is established.