- NY Credits : 6.0
- TX Credits : 6.0
Construction Contractors - Real-World Guide to Accounting and Auditing
With the current real estate market and construction climate, opportunities for fraud abound. This program considers the current construction and surety climate and the CPA's role and interaction with them. It reviews how CPAs can work with their clients in establishing and maintaining strong relationships with a bonding agent and surety. Current GAAP, change orders, and important analytical procedures for the construction industry are all examined in this program. This program looks at ways CPAs may add value to their clients. Additional considerations in this program are effective and efficient audit engagements of contractors with specific consideration of fraud in a financial statement audit.
This course is most beneficial to professionals new to construction accounting who may be at the staff or entry level in organization but also for a seasoned professional with limited exposure to this subject.
Upon successful completion of this course, the user should be able to:
identify where the construction industry stands today,
explain the role of the CPA within today's construction world,
identify various examples of commonly provided value-added services,
determine what makes construction accounting so unique yet so difficult,
identify an overview of CPA malpractice,
recognize the various types of bonds and common surety terms,
identify the warning signs of possible contractor financial difficulties,
determine the role of the bond agents and the importance of establishing a meaningful relationship with them,
identify the importance of the going concern disclosure, and
determine the importance of including backlog in your contractor financial statements.