Construction Accounting, Frederick, MD

Construction Accounting, Frederick, MD
November 03, 2021
10:00 AM - 12:00 PM
Clarion Inn Frederick Event Center
12 SPACES LEFT
$125 Members
$135 Non-Members

EVENT DESCRIPTION

Accounting and financial reporting for the construction industry comes with a unique set of challenges and may be the most difficult area to be in compliance with the various standards. Construction accounting is decentralized, and contracts may be long-term with extended payments.
In this seminar, we will discuss the complexities of accounting and financial reporting in the construction industry, the relationship between the contractor and the surety from a claims and underwriting perspective, and review what the surety looks for to maximize potential bonding requirements.

EVENT OBJECTIVE

Major topics covered include:
• Overview of construction accounting and financial reporting issues
• How to avoid problems that can hinder bonding and financing
• Tax rules vs. GAAP
• Percentage of completion calculation
• Revenue recognition on long-term projects
• Accounting for contract changes and “fade”
• Accounting for change orders and claims
• Job costing
• Job schedules in financial statements
• Overhead allocation
• Analysis of working capital
• Calculating and reporting deferred taxes
• New lease FASB ASC and its impact in the construction industry

EVENT DETAILS

Company:
The Hoffman Group

Number of Hours:
2 (Recommended)

Prerequisite:
Knowledge of Accounting Standards

Program Level:
Update

Knowledge Level:
Intermediate

Delivery Method:
Group-Live

Number Of Days:
1

Food Included:
Beverages

Seminar Number:
2754

Early Cut Off Date:
10/20/2021

Phone:
301-694-7500

Venue:
Clarion Inn Frederick Event Center 5400 Holiday Drive Frederick , MD 21703

Accommodations:
Same As Above ,
Weekday Rate: $109

Recommended For:
CPA (2)

Approved By:
NASBA