August 22, 2019

8:00 AM - 3:45 PM CDT

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In-Person

Alabama Society of CPAs
1041 Longfield Ct, Montgomery, Montgomery County, Alabama 36117-8056

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8 Total CPE Credits

Construction Contractors Advanced Issues

Instructor

Bruce Shepard

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.

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Learning 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.

Major Topics

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

CPE Credits Available

Total CPE

6: Accounting & Auditing
2: Taxes

Alabama Society of CPAs

1041 Longfield Ct, Montgomery, Montgomery County, Alabama 36117-8056

Get Directions

Things to Know About This Course

Course Level

Advanced

Professional Area of Focus

A & A
Construction
Tax

Prerequisites

Previous experience in the construction industry

Advanced Preparation

None

Intended Audience

Practitioners and financial professionals in the construction industry