Construction Contractors: Non-Revenue Accounting Considerations
Understanding the accounting for construction contractors can be quite a task. Many believe revenue recognition is the only important topic. Just as important is all of the non-revenue accounting. Here we will dive into it.
NASBA Field of Study
James Wiedemann, Robert Mercado
Construction accounting is not just about revenue.
Although contract accounting deals with revenue the other items on the financial statements are just as important. Further, what may not be on the financials at all, but effects the day to day operations is critical as well.
- Detailed discussion of the contractor environment and the players in the industry.
- Review of how costs are allocated.
- A revised set of illustrative financial statements and footnotes.
- All about working with a surety.
Who Will Benefit
New staff to experienced staff with construction clients.
- Up-to-date GAAP and private company accounting guidance, including contract revenue recognition.
- Illustrative financial statements.
- Working with a surety.
- 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.
- Recall the demands of a surety and how a surety helps the contractor and the owner.
- Select the proper form and content for the revised auditor’s report.
Group ordering for your team
The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services. The Association is committed to making professional learning accessible to all. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. For accommodation requests, please contact firstname.lastname@example.org and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.