Construction Contractors: Accounting and Financial Reporting Issues

Overview

You could pay $0 for this course!

Accounting and financial reporting for construction contractors may be the most difficult area to be in compliance with the various standards. Also, construction engagements are, in many instances, more "dangerous" than most lines of business due to the many users of the financial statements. In this course, we will discuss why construction accounting and financial reporting are so complex and discuss the relationship between the contractor and the surety, both from an underwriting and claims perspective. We will also explore what the surety looks for in order to maximize potential bond credit.

This course qualifies for reimbursement through the state’s Workforce Training Express Fund. Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course. The course code for this program is C-10074. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.

Highlights

Overall landscape of the construction industry GAAP and recent changes affecting the construction industry The Revenue Recognition Standard and its impact on the construction industry The unique relationship between the contractor and the surety The lease FASB ASC and its impact on the construction industry

Prerequisites

Previous experience in the construction industry or in providing service to construction clients

Designed For

Practitioners who have construction clients and professionals in the construction industry who need to be up to date on the latest information

Construction Contractors: Accounting and Financial Reporting Issues

Overview

Highlights

Prerequisites

Designed For

Objectives

Preparation

Leader(s):