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Thursday, December 1, 2022 Live Webcast

Construction Contractors: Critical Accounting, Auditing, and Tax Issues (E2212083)

9:00 AM - 4:30 PM EST

Registration: 8:30 AM EST

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

R. Wayne Wells

R. Wayne Wells, CPA, CFE

AICPA/Professional Development Institute

Robert Wayne Wells, CPA, CFE Blankenship CPA Group /Brentwood, TN Robert Wayne Wells graduated from Austin Peay State University in Clarksville, Tennessee in 1970, with a Bachelor of Science Degree in Accounting and Economics. Mr. Wells began his career in public accounting in 1970 with the national firm of what was then Touche, Ross & Co. in Nashville, Tennessee. In 1974, he joined a local accounting firm in Nashville. This firm provided accounting, auditing and tax services to small and medium size businesses as well as extensive tax services to individuals. After a total of over 45 years experience, he is today a Principal with Blankenship CPA Group, PLLC in Brentwood, Tennessee. Mr. Wells has conducted numerous seminars in accounting, auditing, and taxation. He holds a Certified Public Accountant certificate in Tennessee, and is also a Certified Fraud Examiner. Mr. Wells is a member of the Tennessee Society of Certified Public Accountants, the American Institute of Certified Public Accountants, and the Association of Certified Fraud Examiners. He is a recipient of the 2013 Outstanding Discussion Leader Award from Tennessee Society of CPAs.

PRICING

$289.00 - Member

$439.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

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COURSE DEVELOPER

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