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Executive Education Series Webinar
Webinar: Error or Change in Estimate? How to Navigate a Common Accounting Issue with Construction Contracts

Long-term construction contracts typically use the percentage-of-completion (POC) accounting method. A change in the profit margin for a long-term POC contract could be a cause of a concern, and if not addressed, may result in restatement of your financial statements.

In this webinar, we will help you identify when a change in profit margin results from an error versus a change in estimate.

Learning Objectives

After completing this course you will be able to:

  • Identify when a contract has an error or change in estimate
  • Disclose a change in estimate on a contract
  • Identify the factors to avoid financial statement restatement if the change does come from an error
Anthony Hakes

Anthony HakesAnthony Hakes, CPA, CCIFP
Based in our Phoenix office, Tony leads our National Construction Industry Practice Group. He serves a variety of clients including general contractors, heavy highway contractors, home builders and real estate developers. He has provided consultation to clients on various accounting and reporting issues including revenue recognition, joint ventures, leases, variable interest entities and evaluation of change orders and claims. Tony is also a designated Certified Construction Industry Financial Professional (CCIFP).

David La Rosa

David LaRosaDavid LaRosa, CPA
David, based in our Philadelphia office, has significant experience in financial statement audits for public and private entities in various industries including construction, manufacturing and real estate. He also specializes in auditing employee benefit plans and is a member of MHM's national International Financial Reporting Standards Solutions Group.


Questions?

Contact us at webinars@cbizmhm.com. You can also follow the discussion using the hashtag #CBIZMHMwebinar on Twitter.

Disclaimer

*Attendees must be registered individually and click on periodic participation markers throughout the webinar to receive CPE credit.

For more information regarding complaint and program cancellation policies, please contact our offices at (216) 447-9000.

CPE Sponsor LogoAll webinars are produced using the LearnLive platform. LearnLive is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the 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.

Archived Recording

Original Air Date:
Sept. 20, 2017

View Recording

Additional Details

Cost: No fee required.

CPE: Eligible for 1 CPE credit in Accounting*

Prerequisites: None

Who Should Attend? CFOs, CEOs, business owners and financial executives

Advanced Preparation: None

Program Level: Basic

Delivery Method: Group Internet-based

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