This course reviews the fundamental accounting issues facing the construction
industry and the application of GAAP accounting methods applicable to construction
contractors. Chapters on assisting the financially troubled contractor, an overview of tax
accounting for the contractor and FASB ASC 740, Income Taxes (SFAS No. 109), are
also included, as is the AICPA Audit and Accounting Guide Construction Contractors.
Tackle construction contract accounting including FASB ASC 605-35 (SOP 81-1)
and the percentage-of-completion and completed-contract methods
Grasp the nature of working with a surety
Handle construction industry cash management, joint ventures, benchmarking
and construction cost allocations more effectively
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 FASB ASC 740, Income Taxes (SFAS No. 109)
VALUE AID! AICPA Audit and Accounting Guide Construction Contractors
Prerequisite: Basic understanding of construction contract accounting