COR23101. Construction Fundamentals: Tax & A&A (Onsite Only, No Additional Fee)

In this session, you will learn about construction industry accounting as well as the most common causes of construction contractor failures. We will break down the work the work in process schedule and dig deep into all key aspects of auditing construction contractors.

Learning Objectives:

• Recognize the components of Long-term contracts under IRC Section 460
• Recall the Lookback Method
• Identify the exceptions for percentage of completion under IRC Section 460
• Indicate exempt tax methods of accounting for long-term contracts