This course will provide an introduction to the construction industry, including general risks that contractors face, and accounting considerations unique to the construction industry. This course will also cover the relationship between construction contractors, CPAs, and sureties.

This course covers common causes of construction contractor failures, the different types of contracts and contractors, and revenue recognition for contracts using percentage of completion method.

Learning Objectives:

• Common causes of construction contractor failures
• General information as it pertains to the construction industry
• Revenue recognition in a Percentage of Completion environment

This course covers general risk factors, direct and indirect job costs as well as allocation methods, and financial reporting and disclosing requirements.

Learning Objectives:

• Identify different types of risk factors for contractors
• Allocate indirect job costs and properly recognize direct job costs
• Financial reporting and disclosing in the industry

This session will provide an understanding of the individual components of the work-in-progress (WIP) schedule and how these components are commonly accounted for within the industry.

Learning Objectives:

• Understanding of common pitfalls when creating a WIP schedule
• Understanding what each item of the WIP schedule is and what goes into each item on the WIP schedule

This course covers common causes of construction contractor failures, the different types of contracts and contractors, and revenue recognition for contracts using percentage of completion method.

There are various ratios that are used to analyze a contractors financial statements. Without the proper knowledge of what ratios and analysis should be done you could be missing key indicators of issues that could be hiding in the numbers. We discuss these key indicators and how internally and externally users will use these indicators to make decisions.

Learning Objectives:

• Understanding of the specific construction ratios
• Understand what to look for in the ratios to determine what is truly happening with the contractor

This course will provide an introduction to construction company audits, including planning considerations and auditing procedures specific to the construction industry.

Learning Objectives:

• Learn about planning considerations for construction company audits
• Understand specific audit procedures to perform on construction companies

This session will cover engagements performed under preparation, compilation and review standards (SSARS engagements). We will address difference among engagements, procedures performed, and common matters considered for construction contractor engagements.

Learning Objectives:

• Be made aware if updates and projects related to the statements on Standards for Accounting and Review Services (SSARS)
• Become informed on changes to review, compilation, and preparation engagements
• Understand construction specific considerations and procedures related to SSARS engagements