Surgent's Construction Contractors: Accounting and Financial Reporting Issues
Wednesday, August 07, 2024
Webcast or Webinar, Online
1:00 PM - 4:30 PM (opens at 12:30PM) EST
4Credits
Accounting and Auditing
Registration is Open
Members
$159.00 Regular Price
Non-Members
$219.00 Regular Price
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Course Type: Webcast
Course Code: 24/SUCST439
Level: Intermediate
Vendor: Surgent
Field of Study: Accounting
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.Objectives:
- Apply accounting and financial reporting standards to construction contractors
Major Topics:
- 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
Major Topics:
- 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