Construction Accounting: A Practitioner's Guide FLEXCAST

Overview

This course is the essential construction company accounting guide for professionals in the construction industry to master the unique accounting principles applicable to their field. This construction accounting course is tailored to impart both theoretical knowledge and practical skills in managing the intricate financial aspects of construction projects. Participants will benefit from a thorough understanding of the various types of bonds required for contractors, the intricacies of construction contract clauses, and the causes of contract claims. The construction accounting class covers the use of different ledgers in construction accounting and the components of a work breakdown structure, enabling participants to organize and manage financial data effectively. Our construction accounting CPE also provides insights into revenue recognition in contracts, including the criteria for contract existence and the methods used to determine contract price. Additionally, the construction accounting course explores the accurate accounting for pre-contract costs, the application of various depreciation methods, and the handling of fixed assets. Importantly, it addresses the specific IRS rules and requirements relevant to construction accounting, aiding in compliance and efficient financial management. By completing this construction accounting CPE course, participants will be equipped with the skills to implement robust accounting systems in their construction businesses, enhancing financial accuracy and compliance.

Highlights

Construction industry overview. Construction accounting system. Construction-specific accounting. Construction transactions. Construction financial statements, and more.

Prerequisites

None.

Designed For

CPAs, auditors, consultants, and financial and managerial professionals.

Objectives

Recognize the types of bonds that a contractor may be required to post. Cite the different types of clauses that may be added to a construction contract. Specify the various causes of contract claims. Specify the types of financial difficulties to which the construction industry is subjected, and more.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.