[WEB4] Construction Accounting - The Impact of the New Standards

Course Details

Date

Thursday, November 12, 2020

8:30am – 12:00pm
(Registration: 8:30am)

Field of Study

Accounting

Course Number

CCA4

CPE Credit

4.0 hours CPE credit

Instructor

Vendor

Kaplan Financial Education

Prerequisites

Accounting experience

Description

This program explains and illustrates special accounting and auditing issues related to the construction industry, contractor specific disclosure rules, and current accounting and auditing developments.  It includes the new revenue recognition and lease standards as well as up-to-date guidance from the AICPA's Transition Resource Group.

Highlights

  • Using the 5-step revenue recognition process in construction contracts
  • Over and under billings
  • New lease standard for construction contractors
  • Consolidation of variable interest entities
  • Deferred income taxes
  • Disclosure of risk and uncertainty
  • Audit program for contract related items, applying risk analysis to construction contractors' operations, and required disclosures

Objectives

Participants will be able to:

  • Understand the definition of "long-term contract"
  • Present a contractor's financial information in accordance with U.S. GAAP Topic 606-Revenue from Contracts With Customers
  • Calculate work in process schedules
  • Efficiently audit a contractor
  • Plan financial transactions to assure maximum bonding capacity
  • Advise contractors on how business decisions affect financial statements
  • Comply with new accounting rules

Designed For

CPAs in public practice and accounting and financial professionals in the construction industry who prepare GAAP based financial statements

Registration for this course has passed.

Course Pricing

Early Registration Member Fee

Applicable if you are a HSCPA member in good standing and register by November 3, 2020.

$150.00
Member Fee

Applicable if you are a HSCPA member in good standing.

$200.00
Early Registration Non-Member Fee

Applicable if you are not a HSCPA and register by November 3, 2020.

$300.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$350.00
Your Price $350.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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