• Types of contractors
• Non-revenue GAAP accounting for contractors
• Contractor financial statements
• Sureties and their place in the construction relationship
Learning Objectives
When you complete this course, you will be able to: • Recognize select characteristics that are unique to the construction industry and that have accounting, audit, tax, or consulting consequences.
• Identify the components of job costs incurred, the common categories into which the costs are divided, and the impact of both direct and indirect costs on the contractor.
• Recall the unique supplementary information normally included in the financial statements of a construction contractor.
• Identify the various financial benchmarks a surety or surety agent might analyze in a contractor's financial statements to determine the amount of the contractor's surety credit.
Major Topics
• Types of contractors
• Non-revenue GAAP accounting for contractors
• Contractor financial statements
• Sureties and their place in the construction relationship