Certification in Action: Jennifer Alexander - Articles

What challenges have you overcome that you could attribute to knowledge gained from the CCIFP designation?

Construction accounting is unique compared to the accounting processes in other industries. Concepts such as prevailing wages, work-in-progress (WIP), and over/underbillings are generally not covered in-depth in school.

The CCIFP designation goes beyond common public accounting and covers topics such as risk management, human resources, and IT, including the selection and implementation of software. Understanding all of these topics has proven valuable in understanding the business as a whole.

Can you share a particular situation?

Last year I made the transition from a GC to a homebuilder. The knowledge gained through the process of obtaining the CCIFP designation bridges the gaps between the niches within the industry.

I was able to focus on the unique characteristics of the organization and their specific projects instead of focusing on training or new accounting concepts, thus saving valuable time.

What was the most obvious advantage from becoming a CCIFP?

Earning the CCIFP designation has given me self-confidence in both construction accounting practices and in building and strengthening professional relationships with service providers, such as surety and banking. I also feel the designation demonstrates my dedication to the industry.

Taking advantage of CFMA’s annual and regional conferences, monthly webinars, on-demand education, and community discussion boards increases my confidence that I am aware of arising changes affecting construction accounting and the construction industry.

Why is it important for organizations to have CCIFPs?

Our small organization has both a CCIFP and a CPA. Having members of our team from both backgrounds can provide comfort in knowing that there is not only dedication to a thorough understanding of accounting practices, but also a perspective dedicated specifically to the construction industry.

Continuous education ensures that we are up to date on the current accounting standards and other factors currently affecting our industry.

Organizations with CCIFPs on their team can use this as a marketing advantage, as it can be a differentiating factor between competitors.

Why would you recommend the CCIFP designation to another person/business?

Obtaining the CCIFP designation not only shows a thorough understanding of the complexities of construction accounting, but also shows the dedication that one has committed to the construction industry.

This certification is known throughout the industry and shows clients, business partners, and potential future employers your specific in-depth industry knowledge and experience in accounting, as well as other facets of the overall business.

Is there anything else you would like to share about becoming a CCIFP?

At Desert Wind Homes, our slogan is “Live Your Best.” Obtaining the CCIFP designation has been a big step in my journey to live my best.

I look forward to the opportunities that arise from this accomplishment and would encourage fellow construction accountants who enjoy the industry’s uniqueness to pursue their CCIFP designation.

If you have your CCIFP designation and would like to share your experiences, please reach out to Veronica Whitehead at vwhitehead@cfma.org.