Construction Accounting, Frederick, MD
January 01, 1970
12:00 AM
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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:
Food Included:
Beverages
Seminar Number:
Early Cut Off Date:
01/01/1970
Phone:
Venue:
,
Accommodations:
,
Recommended For:
CPA (2)
Approved By:
NASBA