Foundation Software Introduces Management-Level Course on Job Cost Reporting
Chairman/Founder Fred Ode to present "The Fundamentals of Construction Financial Reporting" at Industry forums.

May 18, 2006. Cleveland - Foundation Software, a national developer of construction accounting systems, has announced the introduction of a management-level educational course, "The Fundamentals of Construction Financial Reporting." Presented by Foundation Software's Chairman and CEO, Fred Ode, the course was designed to help construction owners and managers understand which reports they should be analyzing and how to interpret the information.

Mr. Ode will first present the course to contractors participating in the Broadlands Surety Bond and Mentorship Program, on Thursday, June 8th, at the Government Center Building, Miami, Florida. Broadlands Financial Group, LLC works to ensure the future prosperity of small contractors through the provision of proven business strategies as well as the procurement of surety credit.

"Having met with literally thousands of construction owners and managers over the last 25 years, I have come to understand that most do not come to this business with a background or expertise in accounting," Ode explained. "Regardless of how skilled a contractor may be at his or her particular trade, it also takes some 'numbers knowledge' in order to compete in today's construction market. I've designed my course to cover the basic management-level reports every contractor should understand - and use-to run a successful construction business."

The Fundamentals of Construction Financial Reporting will follow a logical progression from traditional financial reports (Balance Sheet, Income Statement, Overhead Allocation) to most-used management reports(Over/Under Billing, Percent-Complete, etc.) and complex job costing reports (Variance, Projected Costs to Complete, Labor Productivity, etc.) Sample contractor reports will demonstrate the unique nuances and complex accounting issues that can influence accuracy and business decisions. The course will include a discussion of how technology, specifically job cost accounting software, can automate these reports for contractors. A demonstration of routine daily accounting activities - from setting up a new job, processing payroll, tracking equipment, entering accounts payable, and more-will highlight how technology can not only increase efficiency, but automatically provide all the essential reports contractors need.

"The good news for contractors, even non-finance-types, is that they can come to know and understand their company reports and numbers," Ode said. "Even better news: today's technology offers the tools to automatically produce sophisticated job cost reports at reasonable costs."

The Fundamental of Construction Financial Reporting is a two-three hour presentation available to construction industry associations and organizations that serve construction owners and managers of all trades. Organizers interested in scheduling the course should contact Tracie Kuczkowski, Foundation Software Marketing Director, at 800-246-0800.

About the Presenter
Fred Ode is founder and Chairman/CEO of Foundation Software, Inc. He started the company in 1985 after spending several years developing customized software systems for the construction market. Ode has managed the growth and development of Foundation - from a start-up company to a leading supplier of construction accounting software. The company today serves thousands of clients from a wide variety of construction trades.

Ode is a well-known author and speaker on various topics related to construction, accounting and technology. He is a contributing writer for various industry journals including Construction Executive, Construction Accounting & Taxation, Construction Business Owner, and Builders Exchange, The Magazine. His most recent speaking engagements include presentations at the 2006 World of Concrete, the 2006 ABC Education Conference Technology Theatre, as well as various roundtable and panel discussions at industry tradeshows.

Foundation Software, Inc.T - Since 1985, Foundation Software has helped thousands of labor-intensive contractors improve their accounting, job-costing and overall financial management with Foundation for Windows construction accounting system. Foundation uses powerful Microsoft ® SQL technology, which provides robust reporting, ease of use and superior data flexibility. The software suits a wide range of construction trades. For information, visit us online at www.foundationsoft.com or call (800) 246-0800.

Contacts:

Tracie Kuczkowski, ext 222
tak@foundationsoft.com
800.246.0800