Construction Contractors: Critical Accounting, Auditing & Tax Issues in Today’s Environment

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  • Date/Time
    • Oct 17, 2018
    • Sign In: 7:45am (Mountain Time)
    • Program: 8:00am - 3:45pm (Mountain Time)
    • Add to Calendar
  • Location
    • Your Computer
  • Credits
    • 8.00
  • Credit Type(s)
    • Auditing (Technical) (2.00)
    • Accounting (Technical) (4.00)
    • Taxes (Technical) (2.00)
  • Prerequisites
    • Previous experience in the construction industry or in providing service to construction clients

  • Vendor
    • *** ISCPA ***
  • Level
    • Intermediate
  • Fields of Study
    • Accounting
    • Auditing
    • Taxation

Description

Web version for those Outside the Treasure Valley

Accounting and financial reporting for construction contractors may be the most difficult area to be in compliance with the various standards. Also, construction engagements are, in many instances, more “dangerous” than most lines of businesses due to the many users of the financial statements. In this course, we will discuss why construction accounting and financial reporting are so complex, and discuss the relationship between the contractor and the surety, both from an underwriting and claims perspective. We will also explore what the surety looks for in order to maximize potential bond credit, and we will discuss key areas of tax compliance concentrating on those areas which make construction unique including the impact the Tax Cuts and Jobs Act has on the construction industry.

Designed For

Practitioners who have construction clients and professionals in the construction industry who need to be up-to-date on the latest information

Objectives

  • Apply accounting and financial reporting standards to construction contractors
  • Perform audit and review engagements for construction clients according to the Standards as efficiently and effectively as possible
  • Identify tax compliance issues unique to the construction industry and apply the latest changes

Highlights

  • Overall landscape of the construction industry
  • GAAP and recent changes affecting the construction industry
  • The new Revenue Recognition Standard and its impact on the construction industry
  • Unique audit and review issues with construction contractors
  • The unique relationship between the contractor and the surety
  • Tax compliance issues facing construction contractors
  • Going concern disclosures and their importance to the construction industry
  • The new lease FASB ASU and its impact on the construction industry

Advanced Prep

  • Download PDF manual - view your upcoming events in "My CPE" on website
  • Test your computer/device for compatibility with virtual meeting space well in advance of your webinar

Register Now

Registration is closed. Please contact ISCPA at 208-344-6261 or email cpe@idcpa.org if you have any questions.

Leaders

Robert Wells

Robert "Wayne" Wells has over 45 years of experience in public accounting and annually instructs numerous continuing education seminars and in-firm training classes for continuing education providers in the areas of accounting, auditing, fraud, and taxation. Wells began his career in public accounting in 1970 with the national firm of what was then Touché, Ross & Co. in Nashville, Tennessee. In 1974, he joined a local firm in Nashville and provides accounting, auditing, fraud investigations, and tax services to small- and medium-sized businesses as well as extensive tax services to individuals. Wells graduated from Austin Peay State University in Clarksville, Tennessee in 1970 with a Bachelor of Science degree in Accounting and Economics. He holds a Certified Public Accountant certificate in Tennessee, and is also a Certified Fraud Examiner. He is a member of the Tennessee Society of Certified Public Accountants, the Association of Certified Fraud Examiners, and the American Institute of Certified Public Accountants. He is the recipient of the 2013 Outstanding Discussion Leader Award presented by the Tennessee Society of Certified Public Accountants, the 2014 Outstanding Discussion Leader Award presented by the AICPA, and the Surgent Outstanding Discussion Leader Award in 2016.

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