Fundamentals of Construction Accounting

Gain an understanding of the fundamentals of construction accounting. 

Objectives

  • Recognize how accurate job costing fits into the whole construction process.
  • Recognize how the importance of knowing all your costs leads to more accurate bids for projects, identify problematic jobs, and ensures accurate financial information.
  • Identify the components of job costs for most construction contracts.
  • Identify the three major types of expenses that make up indirect costs.
  • Identify different methods of allocating indirect costs and the related calculations.
  • Calculate over time (percentage of completion) revenue recognition.
  • Recognize common contractor accounting issues.
  • Identify and calculate key ratios for contractors.
  • Recognize the importance of monitoring job costs.
The Required Post Session Test must be completed within one year of the date of enrollment in the course to earn CPE.
Format

QAS Self Study

Presenters (bio below)

Matt Smith and Chris Mast

CPE Hours

2.0 Hours
A&A

Level

Basic

Duration

110 Minutes

Published Date

May 2024


As all courses are free of charge, there are no refunds given.

ACCOUNTING

Fundamentals of Construction Accounting

Gain an understanding of the fundamentals of construction accounting.
Write your awesome label here.

Why should I take this course?

► Specialization

► Knowledge

► Advancement

Our fundamentals course(s) offer an introduction and reinforcement of construction accounting industry practices. Suitable for professionals who are new to construction accounting, switching to the niche specialization or refreshing themselves.
Whether you are ready to boost your career by adding a construction specialization or stepping into a new industry to further advance your knowledge for your job, this course is a great introduction to accounting in the construction industry.
Construction accounting offers unique financial reporting methodologies. In this course, you will learn percentage of completion calculations, industry ratios, and common accounting issues.

Meet the presenters

—

Matt Smith, CPA, CCIFP

Principal, YHB CPAs
Matt joined YHB in 2008 after graduating from Radford University. At YHB, he has focused his efforts on providing assurance and consulting services to private companies in the construction and real estate industries. Through his active participation in industry trade associations and continuous industry specific training and education, Matt has obtained a wealth of knowledge and a deep understanding of these industries.

Email

matthew.smith@yhbcpa.com

LinkedIn

Connect with Matt

Chris Mast, CPA, CCIFP

Director, GBQ
Growing up in rural Ohio, Chris learned the value of hard work by spending his summers on the farm, bailing hay, sorting potatoes, weighing pumpkins, and building corn mazes. This serves him well when connecting with and understanding the needs of those in the construction industry.

In his work, Chris embraces the opportunity to work with, and learn from, a lot of smart business owners, and to train and mentor younger associates. He also takes advantage of the carpool lane; his wife, Beth, is a fellow GBQer.

Email

cmast@gbq.com

LinkedIn

Connect with Chris