Construction Contractors: Non-Revenue and Non-Lease Accounting Considerations
Overview
Understanding the accounting for construction contractors can be quite a task. Many believe revenue recognition is the only important topic. Just as important is all of the non-revenue accounting. Here we will dive into it.
The construction industry stands out in its need to adhere to a diverse range of accounting standards. This course explores the essential knowledge required for success in construction accounting, as well as the key issues influencing this field. Discover the implications of recent developments for yourself, your business, or your clients. In addition, we will examine the relationship between contractors and sureties. Given the construction industry’s significant and ever-expanding share of the economy, staying up to date with the latest accounting updates in this sector is critical. Note: This course does not address FASB ASC 606, Revenue from Contracts with Customers, or FASB ASC 842, Leases. The AICPA offers a companion course which focuses on revenue and lease accounting for construction contractors. See Contract Accounting and Lease Accounting and Their Impact on Construction Contractors (CCREVL).
Highlights
Prerequisites
None
Designed For
Objectives
- Recall key considerations regarding the construction industry and the players who take part.
- Identify key concepts related to 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.
Notice
This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by AICPA. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.
Non-Member Price $261.00
Member Price $213.00