Construction Contractors: Accounting and Financial Reporting Issues
4.00 Credits
Member Price $180
Non-Member Price $230
Overview
Accounting and financial reporting for construction contractors may be the most difficult area to comply with the various standards. Construction engagements are, in many instances, more complicated than most lines of business due to the many users of the financial statements. In this course, we will discuss why construction accounting and financial reporting is so complex and examine the relationship between the contractor and the surety, both from an underwriting and a claims perspective. We will also explore what the surety looks for to maximize potential bond credit.
Highlights
• Overall landscape of the construction industry • GAAP and recent changes affecting the construction industry • FASB ASC 606 and its impact on the construction industry • The unique relationship between the contractor and the surety • FASB ASC 842 and its impact on the construction industry
Prerequisites
Previous experience in the construction industry or providing service to construction clients
Designed For
Practitioners who have construction clients and professionals in the construction industry who need to be up to date on the latest information
Objectives
• Recognize accounting and financial reporting standards relevant to construction contractors
Leader(s):
Leader Bios
Martin Birr, AICPA
Martin J. Birr, CPA, CMA, CIA, MBA is Trustee Lecturer in Accounting in the Kelley School of Business at Indiana University Indianapolis. He received his MBA in Corporate Finance and Entrepreneurial Studies from Indiana University and BS in Accounting from Manchester College. Mr. Birr has taught various financial and cost accounting classes. He is a member of and frequent speaker for the Indiana CPA Society and the American Institute of Certified Public Accountants. Martin is a past member and chairman of the Indiana CPA Society’s Ethics Committee. He presents various accounting, ethics, and management seminars throughout the year and maintains an active consulting practice.
Non-Member Price $230
Member Price $180