Accounting and Finance for Construction Contractors

The construction industry can be a volatile business for both contractors and the accountants that serve them. This course reviews the fundamental accounting issues facing the construction industry and the application of GAAP accounting methods applicable to construction contractors. Accounting topics covered include: contract accounting, working with a surety, cash management, joint ventures, benchmarking and construction cost allocations. Chapters on assisting the financially troubled contractor, an overview of tax accounting for the contractor and SFAS No. 109, Deferred Income Taxes, are also included, as well as the AICPA Audit and Accounting Guide, Construction Contractors.

• Tackle construction contract accounting including SOP 81-1 and the percentage-of-completion and completed-contract methods
• Grasp the nature of working with a surety
• More effectively handle construction industry cash management, joint ventures, benchmarking, and construction cost allocations
• Apply GAAP accounting methods applicable to construction contractors
• Assist the financially troubled contractor
• Obtain an overview of federal income taxation issues for construction contractors
• Apply SFAS No. 109, Deferred Income Taxes

Value Aid:  AICPA Audit and Accounting Guide – Construction Contractors

Prerequisite:  None.