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Basic Accounting and Auditing for the Construction Industry (4162786B)
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Build a strong foundation for your construction industry accounting and auditing issues by analyzing revenue recognition under the percentage of completion method; shortfalls of the cost to cost method; and techniques that provide a more realistic audit approach for the contractor, including detailed auditing procedures for the various types of contracts.

7/11/2016
When: 9:30 am - 5:00 pm
Where: Webinar/Webcast
United States
Contact: April Deneault
801-466-8022


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Acronym BACI
CPE 8 hours
Category
Accoumting
Level Basic
Vendor CalCPA
Who should attend Internal and external CPAs who provide audit and review services to construction contractors.
Prerequisite
None
Fees: Early Bird
Standard
Member N/A
$245
Non-Member: N/A
$375

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:
Build a strong foundation for your construction industry accounting and auditing issues by analyzing revenue recognition under the percentage of completion method; shortfalls of the cost to cost method; and techniques that provide a more realistic audit approach for the contractor, including detailed auditing procedures for the various types of contracts. Also, you'll more clearly understand how to assist with evaluating job profitability and presenting quality financial information to lenders and bonding companies.

Major Topics:

  • Computations for revenue recognition
  • Related FASB revenue recognition standard
  • Risk-based audit model to contractors
  • Contractor's estimating process
  • Auditing contracts completed and in progress
  • Surety package to present to the bonding company
  • Audit program for specific high-risk areas
  • Computations and alternative approaches

Objectives:

  • Recognize and handle basic accounting and auditing issues specific to the construction industry.
  • Determine specific bonding requirements and objectives.
  • Identify the components of the percentage of completion method of accounting using a risk-based perspective.
  • Identify common pitfalls.
  • Determine how to apply principles for all types of general and specialty contractors.
  • Determine the viability of project site visits.

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