Courses

Surgent's Construction Contractors: Critical Accounting, Auditing, and TaxIssues

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Member Price: $159.00 Non-Member Price: $279.00

Developer:: SURGENT MCCOY SELF-STUDY CPE, LLC
CPE Credits:: Accounting: 6.00, Taxes: 2.00
Fields of Study:: Accounting, Taxes
Level:: Intermediate

Accounting and financial reporting for construction contractors may be the most difficult area to comply with the various standards. Construction engagements are, in many instances, more complicated 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 is so complex and examine the relationship between the contractor and the surety, both from an underwriting and a claims perspective. We will also explore what the surety looks for to maximize potential bond credit and discuss key areas of tax compliance concentrating on the areas that make construction unique.

Objective

Recognize accounting and financial reporting standards relevant to construction contractors
Identify how to effectively audit and perform review engagements for construction clients according to the standards
Understand tax compliance issues unique to the construction industry and apply the latest changes

Highlights

Overall landscape of the construction industry
GAAP and recent changes affecting the construction industry
FASB ASC 606 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
Ongoing and new tax issues for construction contractors
Going concern disclosures and their importance to the construction industry
FASB ASC 842 and its impact on the construction industry

Designed For

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

Prerequisite

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

Advanced Preparation

None