The construction industry stands out significantly in its need to adhere to various accounting and auditing standards. This course provides the essential knowledge required for success in this field, addressing key aspects affecting construction accounting and auditing. It includes an exploration of the new revenue recognition guidance, alongside other recent developments, helping you gauge their implications for yourself, your business, or your clients. Additionally, this course sheds light on the dynamics between contractors and sureties. Given the construction sector's substantial contribution to the economy and its continual expansion, staying abreast of the latest changes in accounting and auditing for this industry has never been more vital.
Learning Objectives
When you complete this course, you will be able to: ? Recall ways to provide efficient, high-quality audit services to construction clients. ? Identify significant accounting and auditing considerations relevant to construction contractors.
Major Topics
? Contract accounting and revenue recognition from contracts with customers ? Contractor financial statements ? Working with a surety ? Audit planning, procedures, and reporting ? Long-term contracts
