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Construction Contractors: Accounting, Auditing, & Tax Issues

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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 businesses 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, and we will discuss key areas of tax compliance concentrating on those areas which make construction unique, including the impact of The Tax Cuts and Jobs Act on the construction industry.

Prerequisites

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

Objectives

  • Apply accounting and financial reporting standards to construction contractors Perform audit and review engagements for construction clients according to the Standards as efficiently and effectively as possible Identify 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 The new Revenue Recognition Standard 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 Going concern disclosures and their importance to the construction industry * The new lease FASB ASU and its impact on the construction industry

Register Now

Materials are generally available 3 days in advance of an event. Once you have downloaded the manual, we are unable to cancel your registration.

Event Code:

CONS821

8 CPE Credits
Accounting: 4 Credits Auditing: 2 Credits Tax: 2 Credits

Registration

Member Price:
$349
Non-member Price:
$449
    Register by July 31st for Early Bird Pricing.

    Registration is open through 08/20.

    Wednesday, August 21st

    8:00am to 4:00pm
    (Check-In 7:30am)

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    Gratzer Education Center

    1735 Alliant Ave.
    Louisville, KY 40299

    Map and Directions

    Instructor

    Robert Bedwell