Construction Accounting: A Practitioner's Guide ON DEMAND
Available Until
Your Desk
11.0 Credits
Member Price $308.00
Non-Member Price $354.00
Overview
This course addresses every aspect of the accounting for a construction business. The intent is to not only explain accounting concepts, but also provide examples and show how an accounting system can be constructed and operated. The course pays particular attention to unique aspects of construction accounting that are not encountered in other industries, including the job cost ledger, change orders, back charges, percentage of completion calculations, and the treatment of anticipated losses on contracts. In short, Construction Accounting is the go-to source for information about the accounting for a construction firm.
Highlights
Construction Industry Overview. Construction Accounting System. . Construction-Specific Accounting. Construction Transactions. Construction Financial Statements. Fixed Asset Accounting. Payable Accounting. Debt Accounting. Contingencies. Lease Accounting. Payroll Accounting. Investments in Construction Joint Ventures. Construction Tax Issues. Construction Accounting Controls. Job Analysis. Business Structures.
Prerequisites
None.
Designed For
CPAs, auditors, consultants, and financial and managerial professionals.
Objectives
Recognize the types of bonds that a contractor may be required to post. Cite the different types of clauses that may be added to a construction contract. Specify the various causes of contract claims. Specify the types of financial difficulties to which the construction industry is subjected. Identify the different types of ledgers used by a construction company. Specify the components of a work breakdown structure. Recognize the types of accounts most likely to be designated as control accounts by a contractor. Recognize the linkage between contracts and revenue recognition. State the criteria for the existence of a contract. Specify the methods used to determine the price of a contract. Cite the criteria used to identify contract fulfillment costs. Recognize the different methods used to calculate the percentage of completion. Identify the situations in which the completed contract method should be used. Describe the circumstances under which the recovery of funds from a change order is probable. Specify the proper accounting for pre-contract costs, and more.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $354.00
Member Price $308.00