Live Stream: Construction Contractors - Non-Revenue and Non-Lease Accounting Considerations
131 | Livestream | Basic | Scheduled
Description
The construction industry stands out in its need to adhere to diverse accounting standards. This course explores the essential knowledge required for success in construction accounting and the key issues influencing this field. You'll discover the implications of recent developments for yourself, your business or your clients. In addition, you'll examine the relationship between contractors and sureties. Given the construction industry's significant and ever-expanding share of the economy, staying up to date with the latest accounting updates in this sector is critical. Note: This course does not address FASB ASC 606, Revenue from Contracts with Customers, or FASB ASC 842, Leases. The AICPA offers a companion course that focuses on revenue and lease accounting for construction contractors.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 4.00 | Accounting |
Designed For
New staff to experienced staff with construction clients
Highlights
- Types of contractors
- Non-revenue GAAP accounting for contractors
- Contractor financial statements
- Sureties and their place in the construction relationship
Objectives
When you complete this course, you will be able to:
- Recognize select characteristics that are unique to the construction industry and that have accounting, audit, tax or consulting consequences
- Identify the components of job costs incurred, the common categories into which the costs are divided, and the impact of both direct and indirect costs on the contractor
- Recall the unique supplementary information normally included in the financial statements of a construction contractor
- Identify the various financial benchmarks a surety or surety agent might analyze in a contractor's financial statements to determine the amount of the contractor's surety credit
Prices
- Member (Early Bird)
- $189.00
- Non-Member (Early Bird)
- $249.00
- Member
- $189.00
- Non-Member
- $249.00
Instructors
Bruce Shepard, CPA
Bruce Shepard was most recently an assistant professor of accounting at George Fox University and an adjunct professor of accounting at the University of Oregon, prior to becoming an instructor for the AICPA in 2012. From 2006-2010, Mr. Shepard was the Chief Financial Officer of Las Vegas Gaming, Inc. in Las Vegas, Nevada, where he had full management responsibility for all financial affairs, daily business operations, administration and human resources. From 1985-2006, Mr. Shepard was in charge of the Middle Market Practice for PricewaterhouseCoopers, LLP in Portland, Oregon, where he served as an Assurance Partner from 1989-2006 focusing on providing proactive business advisory services to fast-growing companies. Bruce has many years of trusted business advisor experience around Portland, Oregon where he practiced for 33 years. In addition, Bruce has taught all of the accounting and auditing classes, fraud and forensics, pension auditing, SAARS, COSO, and governmental accounting and auditing classes for the AICPA for the last six years including being the lead instructor on GASB 68. Presently, Bruce is the author of the AICPA course, Audits of Banks and Other Financial Institutions.
At PricewaterhouseCoopers, LLP, Mr. Shepard spearheaded over 100 acquisitions and divestitures by leading in the financial structuring of the transactions. He worked with clients to develop strategic plans for short-term and long-term growth. He assisted both start-up companies and beyond start-up companies with attaining their needed growth capital. Mr. Shepard wrote an article, Financing Entrepreneurs, in 1999 for the Oregon Society of Certified Public Accountants. Mr. Shepard was awarded "Beta Alpha Psi Professional of the Year" in 2006 for sustained involvement with the University of Oregon.
Bruce has received the 2017 AICPA Outstanding Discussion Leader Award for her practical approach, enthusiasm, and lively seminars.
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