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The construction industry is one of the most unique when it comes to being in
compliance with the various accounting standards. This course examines the core
knowledge necessary to succeed and the key issues impacting construction
accounting. Find out what other new developments may mean for you, your
company, or your clients. In addition, this course explores the relationship between
the contractor and the surety. With construction comprising such a large portion
of the economy and always growing, it is more important than ever for you to be
on top of the very latest in accounting changes for the construction industry.
Note: This course does not address FASB ASC 606, Revenue from Contracts with
Customers, or FASB ASC 842, Leases. The AICPA offers a companion course
which focuses on revenue and lease accounting for construction contractors. See
Contract Accounting and Lease Accounting and Their Impact on Construction
Contractors (CCREVL).
Please note – materials for this event will be provided electronically ONLY. Please feel free to bring your own device to view the materials. We recommend that you download them prior to the event date rather than onsite.
• Recall key considerations regarding the construction industry and the
players who take part.
• Identify key concepts related up-to-date GAAP accounting methods
applicable to construction contractors.
• Recall the key portions of construction contractor financial
statements.
• Understand what a surety is and how they assist in the overall
construction process.
• Types of contractors
• Non-revenue GAAP accounting for contractors
• Contractor financial statements
• Sureties and their place in the construction relationship
Practitioners and financial
professionals in the construction
industry
None
None
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