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OnDemand Course

Allocating Overhead to Construction Projects

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.

Learning Objectives

  • You will be able to recognize the importance of planning and budgeting construction projects
  • You will be able to recognize and provide examples of direct costs
  • You will be able to recognize and provide examples of indirect costs
  • You will be able to identify how to develop meaningful cost pools

88 minutes
Course Exam
Certificate of Completion
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Why Lorman?

Over 34 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 34 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 February 14, 2020.

Call 1-866-352-9540 for further credit information.

  • CPE/NASBA - QAS Self Study 2.2 including Accounting 2.2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study 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 web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Accounting for 2.2 hours. Prerequisite: basic knowledge of construction law. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     
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Why Lorman?

Over 34 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

Theran J. Welsh, CPA

SVA Certified Public Accountants

  • Partner with the SVA Certified Public Accountants group since 2005
  • Sole focus is on helping contractors create shareholder value, understand their cost structure to properly bid and win profitable work and assure their tax structure is a model that supports a sustainable organization
  • Thorough understanding of the contractor client’s acceptance of risk as most contractors do not go out of business on one job, usually it is a combination of trying to do too much with too little resources and being too impatient to take the time upfront in negotiating a contract and reducing risk integral to contract management
  • Experience can help financial executives of companies focused on executing demanding projects, deliver them on time, consistent with the contract they entered into with the customer to achieve a win-win solution for both parties
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Why Lorman?

Over 34 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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Product ID: 407557
Published 2020
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