Construction Accounting Network Bootcamp Experience

The Construction Accounting Network Bootcamp (CAN), is a yearly event held by BDO and partner firms in Nashville, TN. It is where firms from around the country come to learn and trade ideas to better themselves and their firms, while also making connections with other accountants that can be a great resource in the future. HHM has had the privilege of attending the last three bootcamps and each year has been better than the one before. The bootcamp has two tracks: advanced and emerging leaders. Emerging leaders track is for accountants who are just entering the construction world and want to build their knowledge and start creating a network with fellow professionals. Since our firm has participated in the emerging leaders track for the past three years, we will highlight a couple of takeaways from this year’s bootcamp that really show the importance of continuing education, sharing knowledge, and networking.

Emerging leaders focus on new accountants, those who may not be familiar with a WIP schedule, construction accounting methods, making contracts, or what a surety is. All these have a dedicated class to help introduce and grow the next generation of construction accountants. One class was a panel led by HHM partner Kyle Christensen, which included professionals in surety and construction contract law. They discussed what they did, how their job impacted the construction field, and why it was important for accountants to be familiar with what they do. One of the highlights from this panel was networking. They emphasized the importance of building relationships with all sorts of professionals across the construction industry, which is a tight knit community. The accounting industry has always been behind when it comes to technology so it’s always a hot topic at bootcamp. The industry has recently taken great strides toward incorporating technology into every day business.  One of the highlights of the bootcamp was learning more on how technology can be used to to streamline processes and help eliminate manual entry errors. One of the ways some firms are utilizing technology is by using an excel add-in called Data snipper. This add-in helps streamline processes by automating data extraction from pdfs to excel, speeding up verification, and allowing teams to reference pdfs inside the excel file without having to leave the excel file. This is a tool that saves time, improves accuracy, and boosts review quality. All these things save our clients time and money.

Besides learning, another important thing CAN Bootcamp does is allow young accountants to network. Plenty of experienced accountants who have been in the construction field for years participate in the bootcamp and are willing to answer questions from attendees who are newer to the industry.  Making these connections and practicing networking is important for the growth of young accountants and their firms.

You can learn more about CAN Bootcamp by visiting the Construction Accounting Network’s website: https://www.constructionaccountingnetwork.com/join-can

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