Proper cost accounting and financial management are essential elements of any successful construction job, and therefore make up essential skills for construction project engineers and project managers. Many textbooks on the market focus on the theoretical principles of accounting and finance required for head office staff like the chief financial officer (CFO) of a construction firm. This ebook, Cost Accounting and Financial Management for Construction Project Managers (PDF)’s unique practical approach focuses on the activities of the construction management team, including the project manager, project engineer, superintendent, and jobsite cost engineers and cost accountants. In short, this ebook provides a seamless connection between cost accounting and construction project management from the construction management practitioner’s perspective.
Following a complete accounting cycle, from the original estimate through cost controls to financial close-out, the PDF ebook makes use of one commercial construction project case study throughout. It covers key topics like financial statements, cost control, ratios, cash flow, equipment depreciation, earned value, and pay requests. But unlike other textbooks, this ebook also covers additional financial responsibilities such as change orders, cost estimates, and project close-out. Also included are more advanced accounting and financial topics such as supply chain management, lean construction techniques, taxes, activity-based accounting, and the developer’s pro forma. Each chapter contains review questions and applied exercises and the book is supplemented with an eResource (sold separately) with instructor manual, estimates and schedules, further cases and figures from the book. This downloadable textbook is ideal for use in all cost accounting and financial management classes on both graduate and undergraduate level construction management or construction engineering programs.
“In Cost Accounting for Construction Management, the author Len Holm successfully peels back the norms of construction project management and weaves in a detailed recipe for better understanding the broader study of construction financial management. By using specific case studies and intuitive exercises, Len Holm provides a detailed and compelling understanding of the delicate balance between construction cost accounting and project management.” – Robert Guymer, Chief Operations Officer – Foushée & Associates Company, Inc