Surgent's Construction Contractors: Accounting and Financial Reporting Issues

Overview

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 business due to the many users of the financial statements (especially considering the impact of COVID-19). 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 new Revenue Recognition Standard and its impact on the construction industry
• The unique relationship between the contractor and the surety
• The new lease FASB ASC and its impact on the construction industry

Prerequisites

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

Designed For

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

Objectives

• Apply accounting and financial reporting standards to construction contractors

Preparation

None

Notice

This on-demand webcast can be taken at any time of your choosing and is valid for one year from the date of purchase. No live instructor is present, and an exam is required to earn credit. You must score 70% or higher to earn the certificate.

How do I access my Self-Study Package?

Visit https://www.surgentcpe.com/login and enter your username (your LCPA email address) and password. If you do not remember your password, press the "Forgot?" button to receive a password reset email. Once logged in, the page will refresh to display your account menu on the left side.