The construction industry is one of the most unique when it comes to being in compliance with the various accounting and auditing standards. This course examines the core knowledge necessary to succeed and the key issues impacting construction accounting and auditing, including the new revenue recognition guidance. 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 and auditing changes for the construction industry.
When you complete this course you will be able to: • Recall ways to provide efficient, high-quality audit services to construction clients. • Identify key concepts related up-to-date GAAP accounting methods applicable to construction contractors.
• Contract accounting and revenue from contracts with customers
• Contractor financial statements
• Working with a surety
• Audit planning and procedures
• Long-term contracts