On-Demand

4 CPE

Surgent's Construction Contractors: Accounting and Financial Reporting Issues

On-Demand
4 CPE

This course is delivered as a recorded video. After completing all sessions, you must pass the final exam with a minimum score of 70% to receive credit.

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. 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.

Learning 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 Revenue Recognition Standard and its impact on the construction industry
  • The unique relationship between the contractor and the surety
  • The lease FASB ASC and its impact on the construction industry

CPE Credits Available

4 CPE
4
Accounting

Things to Know About This Course

Course Level

  • Intermediate

Professional Area of Focus

  • Accounting & Auditing

Prerequisites

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

Advanced Preparation

None

Intended Audience

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

Provider

Surgent CPE

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