Construction Contractors Advanced Issues (CCAI15)
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The construction industry comes with many advanced accounting, audit, and tax issues, making construction contractor engagements inherently riskier than other engagements. As a result, practitioners should be prepared to address difficult issues such as look-back calculations, measuring progress of contracts, overhead allocations, and internal controls. Learn about some of the most pervasive issues in the industry and how to identify and manage the risks inherent with these engagements.

9/30/2015
When: 09/30/2015
8:30 AM until 4:30 PM
Where: DoubleTree by Hilton
1521 W. Pinhook Rd.
Lafayette, Louisiana 
United States
Presenter: Thomas Sheets


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Early Bird Fees (through 9/15)
Members $279
Non-Members $379
After 9/15, add $50 to your fee.

CPE: 8 hours
Level: Advanced
Vendor: AICPA
Category: Accounting & Auditing
Prerequisites: Previous experience in the construction industry
Advanced prep: None

Who should attend: Practitioners and financial professionals in the construction industry

The construction industry comes with many advanced accounting issues, audit procedures, and tax issues, which makes construction contractor engagements inherently higher risk than other engagements. As a result, practitioners and financial professionals should be prepared to address difficult issues such as look-back calculations, measuring progress of contracts, overhead allocations, and internal controls for construction contractors.

Learn about some of the most pervasive issues in the construction industry and how to identify and manage the risks inherent with construction contractor engagements.

Objectives

• Apply complex accounting and financial reporting standards to construction contractors.
• Evaluate and rework audit processes to avoid common deficiencies in construction engagements.
• Identify tax compliance issues unique to the construction industry.

Major Topics

• Contractor internal controls
• Fraud and the contractor
• Joint venture accounting
• Contractor’s benchmarks
• Cash management for the contractor
• Construction cost allocations
• Assisting the financially troubled contractor
• Audit risks
• Deferred income taxes
• Tax planning and AMT
• Look-back method