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Monday, August 29, 2022 Live Webcast

Construction Contractors: Critical Accounting, Auditing, and Tax Issues (E2208083)

9:00 AM - 4:30 PM EDT

Registration: 8:30 AM EDT

webcast

Vendor Platform

6.0 CPE Credits in AA
2.0 CPE Credits in TX

OVERVIEW

Accounting and financial reporting for construction contractors may be the most difficult area to be in compliance with the various standards. 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, and we will discuss key areas of tax compliance concentrating on those areas which make construction unique, including the impact of COVID-19 on the construction industry.

This course features a live instructor and has been specifically designed for the NJCPA.

DESIGNED FOR

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

BENEFITS

  • 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

  • Coverage of the Inflation Reduction Act of 2022
  • Overall landscape of the construction industry, including the impact of COVID-19 on 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

COURSE LEVEL

Intermediate

PREREQUISITES

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

ADVANCE PREPARATION

None

INSTRUCTOR

William Eskin

William I. Eskin, CPA

AICPA/Professional Development Institute

William (Bill) I. Eskin, CPA is very active in the accounting, auditing, tax, and fraud investigation fields in general, and the construction and real estate industries in particular, where he may be best known for identifying and proving CPA malpractice. Recently, he had five books published: Construction Contractors – Real-World Guide to Accounting and Auditing, Critical Issues Involving Taxation of Construction Contractors, Real Estate Tax Boot Camp, Real Estate Taxation: Critical Considerations, and Taking Advantage of Installment Sales and Like-Kind Exchanges. Previously, Bill had been the Director of Financial Analysis and Investigation for the world’s largest surety group. His professional experience also includes more than 12 years of experience working for various CPA firms where he specialized in construction, real estate, litigation support, and other services. He has been a discussion leader for various organizations where he has taught numerous courses, presentations, and webinars. Bill has been awarded the Outstanding Discussion Leader Award every year for the past 11 years. He has also been a featured speaker at the AICPA National Construction Conference and various state CPA annual conferences.

PRICING

$289.00 - Member

$439.00 - Nonmember

Pre-Registration Closed

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COURSE DEVELOPER

Surgent