Virtual Construction Contractors: Accounting Considerations

The construction industry is one of the most unique when it comes accounting considerations. This course examines the core knowledge necessary to succeed and the key issues impacting construction accounting, including the new revenue recognition and leases guidance. Further, this course will provide an overview of the industry, review the players, and take a look at the financial statements and disclosures of common construction entities. Find out what other new developments may mean for you, your company, or your clients. In addition, this course explores the relationship between the contractor and the surety. With construction comprising such a large portion of the economy and always growing, it is more important than ever for you to be on top of the very latest in accounting and auditing changes for the construction industry.

Practitioners and financial professionals in the construction industry

When you complete this course you will be able to:

• Recall key considerations regarding the construction industry and the players who take part.
• Identify key concepts related up-to-date GAAP accounting methods applicable to construction contractors.
• Recall the key portions of construction contractor financial statements.
• Understand what a surety is and how they assist in the overall construction process.

• Contract accounting and revenue from contracts with customers
• Contractor financial statements
• Working with a surety
• Long-term contracts