CORFUND2604. Fundamentals of Revenue Recognition for Contractors

This course covers revenue recognition concepts specific to construction contractors, including contract types, performance obligations, contract estimates, and common areas of judgment such as change orders, claims, incentives, and liquidated damages.

Learning Objectives:

• Recall how contractor revenue differs from billing and why that distinction matters
• Identify the contract and performance obligation in common construction arrangements
• Recognize how change orders, claims, incentives, and liquidated damages can affect contract value and revenue recognition
• Recognize how contractors estimate and update revenue over the life of a job and where common risk areas arise