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Construction Contractors Advanced Issues (103-16)
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The construction industry comes with many advanced accounting issues, audit procedures, and tax issues, which makes construction contractor engagements inherently higher risk than other engagements. As a result, practitioners and financial professionals should be prepared to address difficult issues such as look-back calculations, measuring progress of contracts, overhead allocations, and internal controls for construction contractors.

9/8/2016
When: Thursday, September 8, 2016
7:30 AM - 3:45 PM
Where: UACPA Training Room
136 S Main Street Suite 510
Salt Lake City, Utah  84101
United States
Contact: April Deneault
801-466-8022


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Acronym CAAI16
CPE 8 hours
Category
Accounting & Auditing
Level Advanced
Vendor AICPA
Who should attend

Practitioners and financial
professionals in the construction industry

Prerequisite
Previous experience in the
construction industry
Fees: Early Bird
(through 8/25)
Standard
(after 8/25)
Member $257 $285
Non-Member: N/A
$340
 

AICPA Members receive an additional $30 off the price of this course. Use promo code AICPA8 at checkout to receive the discount.

The Member rate applies to UACPA members and reciprocal state society members. To register online, use the ‘Register’ button above. To register by phone, call the UACPA at 801.466.8022, Monday through Friday, 8am to 4pm.

Description 
The construction industry comes with many advanced accounting issues, audit procedures, and tax issues, which makes construction contractor engagements inherently higher risk than other engagements. As a result, practitioners and financial professionals should be prepared to address difficult issues such as look-back calculations, measuring progress of contracts, overhead allocations, and internal controls for construction contractors. Learn about some of the most pervasive issues in the construction industry and how to identify and manage the risks inherent with construction contractor engagements. Specific topics include:

  • Contractor internal controls
  • Fraud and the contractor
  • Joint venture accounting
  • Cash management for the contractor
  • Contractor’s benchmarks
  • Construction cost allocations
  • Assisting the financially troubled contractor
  • Audit risks
  • Deferred income taxes
  • Tax planning and AMT
  • Look-back method

 Objectives

  • Apply accounting and financial reporting standards to complex situations involving construction contractors.
  • Evaluate and perform audit processes to avoid common deficiencies in construction engagements.
  • Identify tax compliance issues unique to the construction industry.

 

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