Construction Accounting: The Impact of the New Standards  (CCA4)

Thursday, September 27, 2018 from 12:45PM to 4:30 PM in Sioux City

4.00 CPE Credit Hours

This program explains and illustrates special accounting and auditing issues related to the construction industry, contractor specific disclosure rules, and current accounting and auditing developments. It includes the new revenue recognition and lease standards as well as up-to-date guidance from the AICPA's Transition Resource Group.
Designed For
CPAs in public practices and in the construction industry who prepare GAAP based financial statements.
Objective

Participants will be able to:

  • Understand the definition of "long term contract"
  • Present a contractor's financial information in accordance with U.S. GAAP Topic 606 - Revenue from Contracts With Customers
  • Calculate work in process schedules
  • Efficiently audit a contractor
  • Plan financial transactions to assure maximum bonding capacity
  • Advise contractors on how business decisions affect financial statements
  • Comply with new accounting rules
Highlights
  • Using the 5-step revenue recognition process in construction contracts
  • Over and under billings
  • New lease standard for construction contractors
  • Consolidation of variable interest entities
  • Deferred income taxes
  • Disclosure of risk and uncertainty
  • Audit program for contract related items, applying risk analysis to construction contractors' operations, and required disclosures
Prerequisites
None
Advanced Preparation
None
Developer
Loscalzo
Presenters
Rebecca Lee, Loscalzo Associates
Level of Knowledge
Intermediate

Course Location

Delta Hotels By Marriott South Sioux Riverfront
E 4th and B Streets
S Sioux City, NE 68776

Member

$145.00

Late Registration
$170.00 * If postmarked after 9/5/2018

Non-Member

$170.00

Late Registration
$195.00

AICPA Members

Receive a $30 Discount!
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