Gain an understanding of overhead allocation and its role in assuring projects are profitable.
This topic will include a clear definition of what costs are actually overhead to be applied to jobs. The information will define the specific costs that are direct vs. those that are indirect as part of the overhead total costs to be allocated. Then we will look into the various methods to allocate overhead with a few key case studies on how the method you choose will impact each jobs profitability, and the practical applications you can use in your daily roles and apply to your business.
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Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Goals
- Importance of Planning and Budgeting Your Costs
- Developing Meaningful Indirect Cost Pools
- How Accurate Job Costing Fits in the Construction Circle
Direct Costs
- Definition
- Typical Direct Costs
- Labor Burden Calculation
- Case Study
Indirect Costs
- Definition
- Typical Indirect Costs
- Developing Cost Pools
- Case Study
Case Studies Options
- Methods for Your Situation
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Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on November 26, 2019.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
- Arizona CLE 1.5
- CA MCLE 1.5
- CT CLE 1.5
- HI CLE 1.5
- IL CLE 1.5
- ME CLE 1.5
- MT CLE 1.5
- NJ CLE 1.8
- NV CLE 1.5
- VT CLE 1.5
- WA CLE 1.5
- WV MCLE 1.8
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Theran J. Welsh, CPA
SVA Certified Public Accountants
- Principal with SVA Certified Public Accountants, and leads the Construction Services Group
- Certified public accountant advising construction clients to help them better understand their cost structure, with a specific focus on improving profitability
- Assists clients in developing cash flow projections, analyzing overhead recovery methods, recommending tax structure, identifying areas of tax exposure, and determining specific opportunities for tax savings
- Past president of the associate members of Associated General Contractors (AGC) of Wisconsin and a frequent writer on industry issues for local and national industry publications
- Graduate, University of Wisconsin-Madison
- Can be contacted at 608-826-2039 or [email protected]
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Why Lorman?
Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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