Gain an understanding of overhead allocation and its role in assuring projects are profitable.
This course 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 total overhead 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 job's profitability and the practical applications you can use in your daily roles and apply to your business.
Learning Objectives
- You will be able to discuss the importance of planning and budgeting your costs.
- You will be able to describe direct costs.
- You will be able to identify indirect costs.
- You will be able to review case studies.
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Why Lorman?
Over 38 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 38 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 June 7, 2022.
Call 1-866-352-9540 for further credit information.
- CT CLE 0.5
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 0.5 CLE credit(s).
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- WA CLE 1.0
- This program has been approved by the Washington State Board of Continuing Legal Education for 1.0 hours of A/V credit under the Law & Legal Procedure category.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 38 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
Playmaker, LLC
- Playmaker, LLC
- Focus is on helping contractors create shareholder value by understanding their cost structure to bid and win profitable work and ensure their tax structure is a model to support a sustainable organization
- He spends time with contractors to identify options for revenue reporting to reduce tax liability and identify industry-specific tax strategies to reduce tax liability, with the end goal of creating shareholder value
- His experience will help executives of construction companies identify the key performance measurements to pursue profitable work to sustain their organization
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More Program Information
Why Lorman?
Over 38 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.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
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- State Specific Credit Tracker
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