Construction Industry GAAP Review and Contract WIP Reporting & Analytics  (CIGR4)

4.00 CPE Credit Hours

This comprehensive seminar explores the intricacies of financial reporting within the construction industry, focusing on Generally Accepted Accounting Principles (GAAP) and the analysis of Work-in-Progress (WIP) contracts. Gain a thorough understanding of key concepts, including the latest trends and developments shaping the construction sector.

Designed For

CPAs serving clients in the construction industry as well as CFOs, controllers and accountants who work for construction contractors.

Objective

• Learn the implementation of ASC 606 revenue recognition standards and the interpretation of contract WIP schedules.
• Explore the analytical procedures crucial for effective financial decision-making within the construction domain.
• Obtain the knowledge and skills necessary to navigate complex financial scenarios and optimize reporting processes in construction projects.

Highlights

• Construction industry overview including current trends and developments. (25 minutes)
• Review of construction GAAP including ASC 606 revenue recognition implementation. (75 minutes)
• Contract WIP schedules and analytical procedures. (100 minutes)

Prerequisites
Basic construction industry accounting and tax knowledge, or experience in construction industry accounting.

Advanced Preparation
None

Developer
Robert A. Davidson, CPA

Presenters
Robert Davidson, Davidson Consulting

Level of Knowledge
Intermediate