Construction Industry Accounting & Financial Reporting (Virtual)  (CIAF-VIR)

8.00 CPE Credit Hours

This program explains and illustrates special accounting and auditing issues related to the construction industry.

Designed For
CPAs, CFOs, controllers, and accountants that work with construction contractors as well as surety analysts, bankers, attorneys, and other advisors that service the construction industry

Objective

Participants will be able to:

• Apply new construction accounting principals and best practices
• Advise contractors on how business decisions affect financial statements
• Comply with new accounting rules

Highlights

• Accounting, reporting, and disclosure issues related to COVID -19
• Review of construction accounting principles and best practices
• ASC 606 revenue recognition requirements for contractors and related disclosures including contract WIP schedule reporting
• Review of healthy contractor benchmarks, ratios, and risk assessment
• Contract WIP schedules and analytical procedures
• Unique contract disclosures for claims, joint ventures, warranties, etc
• Internal control procedures and best practices for contractors
• Contractor valuation methods and continuity planning principles
• Review and update of construction tax methods and strategies

Prerequisites
Basic knowledge of construction accounting principles

Advanced Preparation
None

Developer
Davidson Consulting

Presenters
Robert Davidson, Davidson Consulting

Level of Knowledge
Intermediate