Construction Contractors: Nonrevenue & Nonlease Accounting Considerations
Presenter
Daryl Krause,
CEO,
DG Krause LLC
Overview
The construction industry stands out in its need to adhere to a diverse range of accounting standards. This course explores the essential knowledge required for success in construction accounting, as well as the key issues influencing this field. Discover the implications of recent developments for yourself, your business or your clients. In addition, we will 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 changes in this sector is critical.
Learning Objectives:
- Recall key considerations regarding the construction industry and the players who take part.
- Identify key concepts related to up-to-date GAAP accounting methods applicable to construction contractors.
- Recall the key portions of construction contractor financial statements.
- Understand what a surety is and how they assist in the overall construction process.
Major Topics:
- Types of contractors
- Nonrevenue GAAP accounting for contractors
- Contractor financial statements
- Sureties and their place in the construction relationship
