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.
Format
Online
NASBA Field of Study
Accounting
Level
Basic
CPE Credits
6
Author(s)
James Wiedemann, Robert Mercado
Availability
1 year
Product Number
CCACT21SSO
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.
Program features:
- 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.
Key Topics
- Up-to-date GAAP and private company accounting guidance, including contract revenue recognition.
- Illustrative financial statements.
- Working with a surety.
Job costs.
Learning Outcomes
- 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
2 to 5 registrants
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