ACP & Somerset CPAs Announce Contractor Success Webinar Series

Associated Construction Publications and Somerset CPAs Construction & A/E Team invite you to participate in our Contractor Success Webinar Series: Financial Power Tools and Best Practices for the Construction Industry. The webinars will be presented by Ken Hedlund and the construction experts of Somerset CPAs plus occasional guest industry experts and will be moderated by ACP’s National Editor, Greg Sitek. These presentations will be beneficial forconstruction-industry business owners, COOs, CFOs and other key managers.

Webinar #1: Retooling for the Recovery Tuesday, February 23, 2010 11:30 a.m. to 1:00 p.m. (Eastern) – Presentation / 1:00 p.m. to 1:30 p.m. – Open Q&A Is the construction industry on the road to recovery? Is your company positioned to make the most of it? We will discuss what can be done today to make your company stronger now and better positioned for the industry recovery. We will provide operational and financial strategies for navigating an economic downturn, working with banks and sureties, improving your balance sheet, right sizing, maintaining profitability, maximizing cash flow and more. We will present a contractor-specific toolbox of ideas for consideration to maximize the potential for your organization to maintain financial stability now and be poised to thrive with the recovery.

Webinar #2: 30-60-90-120 Day Cash Flow Risk Management in Unstable Market Tuesday, March 23, 2010 11:30 a.m. to 1:00 p.m. (Eastern) – Presentation / 1:00 p.m. to 1:30 p.m. – Open Q&A One of the primary reasons many businesses fail is their inability to meet financial obligations as they become due, caused by limited cash resources. No matter how sophisticated your business’s processes, if your business runs out of cash, it will cease to exist. Yet, surprisingly, many businesses do not have a cash flow plan. If they do, it’s often an annual projection done to accompany a bank loan renewal or application. This webinar incorporates the use of software to illustrate that a business with net profits can still suffer cash flow difficulties. It explores various methods for improving cash flow and looks at how cash flow can be managed by planning and monitoring on an ongoing basis. We will share methods to increase cash flow and anticipate cash needs and provide you with the tools you need to minimize your risk and maximize cash flow.

Webinar #3: Contractor Performance-Based Incentive Compensation Plans Tuesday, April 20, 2010 11:30 a.m. to 1:00 p.m. (Eastern) – Presentation / 1:00 p.m. to 1:30 p.m. – Open Q&A More companies are getting away from purely subjective incentive plans and moving towards performance-based plans. This is best practices and, after all, shouldn’t you reward your highest performers? This is an accountability model and integrates the concept of “what you measure you can manage.” We will review a sample plan design considering a corporate funding formula as well as proven performance measurement concepts utilizing Critical Success Factors and Key Performance Indicators–all with practical application to the construction industry. Somerset will discuss sample tools used in the design, implementation and administration of such plans. The use of such a plan will drive desired results and ultimately maximize return on investment.

Webinar #4: Economic, Banking and Surety Update Tuesday, June 1, 2010 11:30 a.m. to 1:00 p.m. (Eastern) – Presentation / 1:00 p.m. to 1:30 p.m. – Open Q&A At the time of this presentation, we will be well into the second quarter. 2010 real time data on industry performance and outlook will be presented by Somerset and other industry experts. We will review current economic data and indicators, provide an update on the surety and banking industries outlook and practices, plus assess the ever-changing landscape of the political environment and any significant tax updates.

How to Participate

Utilizing GoToWebinar and your telephone, you can participate at your desk or in a conference room with a group. There is no limit to the number participants at one location. You may register for any one of the webinars for $149 each or the entire series at a discounted rate of $449. To register, go to www.Somerset-Team.com.

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