Course

Construction Contractors: Accounting & Financial Reporting Issues

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Event Details

Tuesday, October 22, 2019

12:30pm – 4:00pm
(Registration: 12:00pm)

Location

Hilton Garden Inn

2023 Commerce Way

Bozeman, MT 59715

406-582-9900

Field of Study

Accounting

CPE Credit

4 hours CPE credit

Course Code

CST4-28

Instructor

Level of Knowledge

Intermediate

Vendor

Surgent McCoy CPE LLC

Prerequisites

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

Description

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 businesses 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.

Highlights

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

Objectives

Apply accounting and financial reporting standards to construction contractors.

Designed For

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

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