7:30 a.m. Check-in
8:00 a.m. Class Begins
4:30 p.m. Class Concludes
There will be a 30 minute lunch break - Lunch will be provided.
Deadline to cancel with a full refund is Noon on Wednesday, November 11, 2015 at 5:00 p.m.
Ryan Laughlin, CPA, CCIFP
Stacy Lindemann, CPA, CCIFP
This is a group-live course at the Introductory level. No prerequisties or advance preparation required.
Upon completing this one-day workshop, you will be able to:
- Identify key construction accounting principles.
- Explain the core points of revenue recognition.
- Discuss the importance of a job cost system.
- Calculate earned revenue.
- Identify what a construction company expects from its financial manager.
- Use industry data to benchmark your company.
Here's what’s covered:
- Industry Overview – The who, what, when & why of the construction industry
- Terminology & Authoritative Resources – Where to get the answers & what those answers mean
- The Contract Life Cycle – What happens when during this cycle that drives our business
- Elements of Financial Statements – What are yours saying about your company?
- Job Cost Reporting – What it is, what it isn’t, how to allocate costs, how to structure reports
- Revenue Recognition – Contract value, percent complete, what drives the WIP, the effect of change orders
- Computing Earned Revenue – What it is & how to compute it
- Cost in Excess/Billing in Excess Analysis – The ABCs of CIE & BIE
- Financial Statement Preparation & Analysis – What to look – and look out – for
- Cost Reporting Analysis – Tying together all you’ve learned
- What’s Expected of YOU?
- Unique Policies & Practices
- Industry Benchmarks
- And more!
This is an 8-hour course which earns 8 CPE credits in the field of Accounting.
Who Should Take This Course?
Accountants and CPAs new to the construction industry; New
Construction Financial Managers & Controllers; Accounting Dept.
Support Staff; Project Managers, Construction Managers, Risk & IT
Professionals, Financial Services Providers, Owners, and anyone who
would benefit from an understanding of the fundamental construction
Here’s what you can expect:
“The Basics” Workshop begins with an overview of the construction
industry, then moves from the contract life cycle to job costing issues
to financial reporting concerns and beyond. The workshop uses a sample
contractor, a variety of problems, and several exercises that enable
participants to evaluate real-life situations. But, this is not purely a
"textbook course." As a participant, you are encouraged to share your
own perspectives and to trade “war stories” during the case studies and
general discussion segments of the program. You’ll come away with a
deeper and broader understanding of construction accounting and
If you are new to accounting or are completely
unfamiliar with the fundamental elements of construction accounting, you
may want to first enroll in CA101 Construction Accounting Concepts.
This online, self-study course introduces debits and credits, journals
and ledgers, the basics of job cost accounting and income recognition,
financial statements, and other primary construction accounting concepts and
processes. It is written for non-accountants. The second course in our
online construction accounting series, CA102 Practical Accounting
Application, provides an introduction to how the journal entries and
transactions discussed in CA101 flow to the contractor’s financial
statements. These online classes do not provide CPE credit.
The Construction Financial
Management Association (CFMA) is registered with the National
Association of State Boardsof Accountancy (NASBA) as a sponsor of
continuing professional education on the National Registry of CPE
Sponsors. State boards of accountancy have final authority on the
acceptance of individual courses for CPE credit. Complaints regarding
registered sponsors may be submitted to the National Registry of CPE
Sponsors through its website: www.learningmarket.org.
For more information regarding refund, complaint and
program cancellation policies, contact Brian Summers, VP of Content
Management and Education at CFMA. Princeton Forrestal Village, 100
Village Blvd., Suite 200, Princeton, NJ 08540, Phone: 609-452-8000, or