Webcast: Surgent's Construction Contractors: Accounting and Financial Reporting Issues

Overview

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 business 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.

Highlights

Overall landscape of the construction industry
GAAP and recent changes affecting the construction industry
The Revenue Recognition Standard and its impact on the construction industry
The unique relationship between the contractor and the surety
The lease FASB ASC and its impact on the construction industry

Prerequisites

Previous experience in the construction industry or in providing service to construction clients

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

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

David Peters, CPA, CFP, CLU, CPCU, MST, Surgent McCoy CPE, LLC

Leader Bios

David Peters, CPA, CFP, CLU, CPCU, MST, Surgent McCoy CPE, LLC

David Peters is the founder and owner of Peters Tax Preparation & Consulting in Richmond, VA, and a Financial Advisor for Peters Financial, LLC. He has over fifteen years of financial services experience, including three years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for over three years. He is a national CPE Instructor/Discussion Leader for the AICPA, Kaplan, and Surgent and was a recipient of Surgent’s Outstanding Discussion Leader award for 2019. He regularly teaches accounting, finance, insurance, financial planning, and ethics throughout the United States. He is the advisor for Business & Industry topics for the SC Association of CPAs and was a recipient of The American College’s 2019 NextGen Financial Services Professional Award. He holds four Master’s degrees and is currently pursuing his Ph.D. in Financial Planning. He regularly contributes to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the 2018, 2019, and 2020 versions of the Virginia CPA Ethics course – a required course for all CPAs licensed in the Commonwealth of Virginia.

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