Construction Contractors: Critical Accounting, Auditing, and Tax Issues (Webinar) (CCA-WEB)

8.00 CPE Credit Hours

Accounting and financial reporting for construction contractors may be the most difficult space in which to meet compliance standards. Construction engagements can be more “dangerous” than most lines of business due to the various financial statement users. Examine the complexities around construction accounting and financial reporting and learn how to comply with standards while implementing smart strategies. Discuss the relationship between the contractor and the surety, both from an underwriting and claims perspective, and see what the surety looks for to maximize potential bond credit. Explore key areas of tax compliance, concentrating on the areas that make construction unique, as well as the impact of COVID-19 on the industry.

CPAs who have construction clients and those in the construction industry

• Apply accounting and financial reporting standards to construction contractors
• Perform audit and review engagements for construction clients according to the standards as efficiently and effectively as possible
• Identify tax compliance issues unique to the construction industry and apply the latest changes
  
  

• Overall landscape of the construction industry
• GAAP and recent changes affecting the construction industry
• The new revenue recognition standard and its impact on the construction industry
• Unique audit and review issues with construction contractors
• The unique relationship between the contractor and the surety
• Tax compliance issues facing construction contractors
• Going concern disclosures and their importance to the construction industry
• The new lease standard and its impact on the construction industry
  

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

None