January 15, 2025

Webinar

1.5 CPE

Webinar (AICPA): Contract Accounting, Lease Accounting, and their Impact on Construction Contractors

January 15, 2025
Webinar
1.5 CPE

Webinar (AICPA): Contract Accounting, Lease Accounting, and their Impact on Construction Contractors

  • Instructor

    Jennifer
    Elder

  • Construction accounting is not just about revenue, but it is a lot about revenue. Leases too. Diving deep into the five-step approach for revenue recognition in the construction industry, this course has all of the rules and interpretations that you might need. Further, practical examples help to drive home the learning. Additionally, leases are critical for contractors. From equipment to warehouse space, leases appear prominently on many contractors’ book. Review the current guidance and begin to understand the new guidance under ASC 842. Program features:
  • Detailed discussion of the guidance under FASB ASC 606, Revenue from Contracts with Customers.
  • Examples and exercises to understand the five-step recognition process.
  • Detailed discussion of the guidance under FASB ASC 842, Leases.
  • Reasons why leases are so important to contractors.
  • A walkthrough of both current and future lease guidance.

Learning Objectives

  • Identify techniques to provide efficient, high-quality audit and accounting services to construction clients.
  • Recall up-to-date GAAP accounting methods applicable to construction contractors, contracts, revenue and leases.
  • Identify significant accounting considerations for construction contractors.
  • Recall considerations of auditors when servicing construction contractors.

Major Topics

  • Contract accounting
  • Revenue recognition
  • Leases

CPE Credits Available

1.5 CPE
1.5
Accounting

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Construction

Prerequisites

None

Advanced Preparation

This webinar is produced by AICPA. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.

Intended Audience

  • Auditors of construction contractors.
  • New staff auditors with responsibilities in the construction sector.

Provider

AICPA - Durham

Register For This Event

  • COCPA Member

    $ 94 94
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  • COCPA Non-Member

    $ 118 118
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