Practical Guide to Open Book Accounting
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The concepts and principles supporting open book accounting are increasingly being seen as key to successfully driving efficiency in cost reimbursable or target price construction and works contracts. This one day course will provide practical guidance on the principles and concepts underpinning open book accounting and its application in managing the operation of these contracts.
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Learning Outcomes:
•How the open book accounting process works
•How it can be applied under different contracts and projects
•The concepts and principles underpinning open book accounting
•How collaborative working using open book accounting can improve efficiency and reduce cost
•Techniques for developing open book accounting throughout the supply chain
•The accounting systems that contractors, subcontractors and suppliers need to have in place to make open book accounting work
•Value engineering and how to develop a culture of continuous improvement
