Project Financial Management Course

The course consists of two parts: theoretical and practical. The first part of the course provides a detailed breakdown of project financial accounting methodology, key concepts, approaches, and limitations.

The second part covers practical aspects of working with Timetta: generating operational and transactional financial reports, working with entries, and financial accounting periods.

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Course Content

  1. Methodological Recommendations

    • Cost classification: direct and indirect costs
    • Labor cost: calculation methodology
    • Types of profitability: operational and gross
    • Financial accounting methods: managerial and accounting
    • Utilization
    • Financial model building methodology
    • Methods for determining target gross profitability
    • Types of metrics in Timetta
    • Approaches to financial accounting based on documents and entries

  2. Formation of Planned Metrics

    • Initial project estimation
    • Approval of initial estimation
    • Formation of master plans

  3. Accounting for Actual Metrics

    • Recording actual hours
    • Recording actual cost
    • Recording actual expenses
    • Recording actual revenue
    • Accounting for invoicing and payment receipts

  4. Working with Financial Entries

    • Features of financial P&L formation
    • Automatic and manual entry creation
    • Cost of absences
    • Period closing

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