Construction Contractors: Non-Revenue and Non-Lease Accounting Considerations
4.00 Credits
Member Price $145
Non-Member Price $195
Overview
This course is offered in collaboration with multiple state societies and is hosted by the Indiana Society of CPAs.
The construction industry stands out in its need to adhere to a diverse range of accounting standards. This course explores the essential knowledge required for success in construction accounting, as well as the key issues influencing this field. Discover the implications of recent developments for yourself, your business, or your clients. In addition, we will examine the relationship between contractors and sureties. Given the construction industry's significant and ever-expanding share of the economy, staying up to date with the latest accounting updates in this sector is critical.
Highlights
• Types of contractors • Non-revenue GAAP accounting for contractors • Contractor financial statements • Sureties and their place in the construction relationship
Prerequisites
None
Designed For
Practitioners and financial professionals in the construction industry
Objectives
When you complete this course, you will be able to: • Recall key considerations regarding the construction industry and the players who take part. • Identify key concepts related to up-to-date GAAP accounting methods applicable to construction contractors. • Recall the key portions of construction contractor financial statements. • Understand what a surety is and how they assist in the overall construction process.
Preparation
None
Leader(s):
Leader Bios
Daryl Krause
Daryl G. Krause, CPA, has CPA Certifications and he practices in: Illinois, Indiana, Kentucky, Michigan, Ohio and Wisconsin as Manager & CEO of his CPA firm, which he founded in 2005. Previously he enjoyed 23 years of diversified responsibilities with Ernst & Young. Industries he served included manufacturing, construction, real estate and financial services. Daryl has led more than 100 courses for the AICPA in 27 states and the District of Columbia. He also performs technical reviews during the development of certain AICPA courses.
Daryl was the Ohio Valley Area Director of Employee Benefit Plan Services specialty audit practice for 8 years responsible for the technical accuracy and quality of over 300,000 hours of employee benefit plan audit effort. Roles included sign-off partner for approximately one third of the entire area’s engagements, independent reviewer on approximately 100 additional plans per year and technical advisor for all work.
As Senior Manager in the Entrepreneurial Services group for 3 years he managed a portfolio of corporate audit client relationships. Roles included providing SEC reporting assistance to new public companies, assisting in due diligence on potential acquisitions and helping companies improve their controls and financial reporting processes.
He served in E&Y’s National Professional Development group as a Senior Manager for 5 years. Roles included designing, developing and delivering core curriculum Audit and Entrepreneurial Services training programs for the entire U.S. practice. Part of the 11 member team that completed the development effort to introduce the Ernst & Young Audit Approach training for Staff through Partner following the Ernst & Whinney and Arthur Young merger, which was deemed a critical success factor for the newly formed Ernst & Young.
Non-Member Price $195
Member Price $145