CORFUND2602. Fundamentals of Significant Accounting Areas for Contractors

This course covers accounting areas that commonly drive contractor financial reporting and engagement risk, including direct and indirect job costs, cost allocation methods, contract-related balance sheet accounts, and financial reporting and disclosure considerations.

Learning Objectives:

• Identify contractor-specific balance sheet and income statement areas that drive financial statement quality
• Recall cost classification and cost flow concepts relevant to contractor reporting
• Distinguish between contract-related asset and liability presentation and more routine financial statement balances
• Recognize the accounting areas that most often affect working capital, equity, disclosures, and financial statement quality