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Take a focused look at accounting, reporting and auditing for construction contractors. Discuss technique examples that provide a realistic audit approach for the contractor, including detailed auditing procedures for many types of contracts.
The construction industry faces many unique issues and challenges to survive and remain profitable. These challenges include the specific aspects of accounting and reporting for construction contracts, as well as estimating project costs and profitability. Analyze revenue recognition under the percentage of completion method (including comparing current standards to the new FASB revenue standard) by exploring the underlying details and potential errors that are made using established concepts, including the shortfalls of the “cost to cost” method.
CPAs and financial professionals.