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Construction Contractors: Accounting and Auditing

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Live Virtual Seminar

8.00 Credits

Member Price $310.00

Price will increase by $50 on 11/1

Non-Member Price $420.00

Price will increase by $50 on 11/1

Overview

The construction industry stands out significantly in its need to adhere to various accounting and auditing standards. This course provides essential knowledge required for success in this field, addressing key aspects affecting construction accounting and auditing. It includes an exploration of the new revenue recognition guidance, alongside other recent developments, helping you gauge their implications for yourself, your business, or your clients. Additionally, this course sheds light on the dynamics between contractors and sureties. Given the construction sector's substantial contribution to the economy and its continual expansion, staying abreast of the latest changes in accounting and auditing for this industry has never been more vital.

Highlights

  • Contract accounting and revenue recognition from contracts withcustomers
  • Contractor financial statements
  • Working with a surety
  • Audit planning, procedures, and reporting
  • Long-term contracts 

Prerequisites

None

Designed For

Practitioners and financial professionals in the construction industry

Objectives

When you complete this course, you will be able to:

  • Recall ways to provide efficient, high-quality audit services to construction clients.
  • Identify significant accounting and auditing considerations relevant to construction contractors. 

Leader(s):

Leader Bios

Daryl Krause

Mr. Krause has CPA Certifications and he practices in: Illinois, Indiana, Kentucky, Michigan, Ohio and Wisconsin as Manager & CEO of his firm, which he founded in 2005. Previously he enjoyed 23 years of diversified responsibilities with Ernst & Young. Industries he served included manufacturing, construction, real estate and financial services. Daryl was the Ohio Valley Area Director of Employee Benefit Plan Services specialty audit practice for 8 years responsible for the technical accuracy and quality of over 300,000 hours of employee benefit plan audit effort. Roles included sign-off partner for approximately one third of the entire area’s engagements, independent reviewer on approximately 100 additional plans per year and technical advisor for all work. As Senior Manager in the Entrepreneurial Services group for 3 years he managed a portfolio of corporate audit client relationships. Roles included providing SEC reporting assistance to new public companies, assisting in due diligence on potential acquisitions and helping companies improve their controls and financial reporting processes. He served in E&Y’s National Professional Development group as a Senior Manager for 5 years. Roles included designing, developing and delivering core curriculum Audit and Entrepreneurial Services training programs for the entire U.S. practice. Part of the 11 member team that completed the development effort to introduce the Ernst & Young Audit Approach training for Staff through Partner following the Ernst & Whinney and Arthur Young merger, which was deemed a critical success factor for the newly formed Ernst & Young.

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Non-Member Price $420.00

Member Price $310.00