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Payment Academy

Construction Financial Management 101 with Steven J. Peterson

In this free course, learn the basics of financial management in construction — from the guy who literally wrote the book on the subject.

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Educational Courses
Free course
English (auto)

About this course

In this course on construction financial management, Steven J. Peterson will give you a solid understanding of the financial and accounting processes that keep your business on track. He will explain in detail the financial statements that construction businesses need to access capital, increase their bonding capacity, and grow their company.

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  • Certificate at completion
  • 100% online courses
  • Complete at your own pace
  • Beginner to intermediate level
  • No textbooks required

What you’ll learn


The basics of construction accounting

Set up your accounting system to track income and expenses accurately


Creating and reading financial statements

Generate financial statements and use them to make informed business decisions


Managing transactions and cash flow

Record retainage payments and track underbillings and


Measuring success with financial ratios

Use your financial data to track performance over time, spot warning signs, and grow your business

Course outline

12 Lessons (2h 30m)
  1. Why construction companies fail
  2. How construction financial management is different
  3. Who is responsible for financial management?
  4. Introduction to construction accounting
  5. Accounting methods in construction
  6. Building a balance sheet
  7. Creating an income statement
  8. Common accounting transactions
  9. Cash flow management
  10. Risk ratios
  11. Efficiency ratios
  12. Profit ratios
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About the instructor

For 15 years, Steven J. Peterson worked for contractors, government agencies, and developers as an estimator, superintendent, and project manager. He became an expert on tracking financial performance and building accounting systems to help companies succeed.

More recently, Steven has been a professor of construction financial management and accounting at Weber State University in Utah. Now, he runs a consulting firm to help construction businesses make smarter financial decisions.

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Steven J. Peterson

Why we made this course

Construction is a tough business, with one of the highest rates of failure of any industry. Contractors and suppliers face a lot of unique financial challenges — things like retainage, inventory, progress payments, and long payment delays that can drain the company’s cash reserves.

A lot of companies struggle — and ultimately fail — because of poor financial management. These challenges are difficult for everyone — even financial experts who have been trained in another industry. Our goal is to help you learn the skills necessary to protect and grow your construction business.

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Wendy Hilton

I had a large invoice that was 120 days past due, and no one was picking up the phone or responding me. The day I started using Levelset, I got paid!”

Wendy Hilton,
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If you have an idea for a course or would like to become a Credit Management Academy instructor, please reach out to us by sending an email to creditacademy@levelset.com. We are always looking for more course ideas and teachers!

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