Construction Administration & Accounting Academy

This is a 12-hour series of courses taught over three days, September 26, 27 & 28; 1 pm to 5 pm.

Classes:

(Sep. 26; 1 to 5 pm) Financial Statements – Understanding the Concepts &
Fraud Prevention

• Overview of Construction Accounting Principles
• Interpretation of Frequently Used Financial Reports
• Internal and external threats
• Types of fraud that plague the construction industry
• Policies that reduce the opportunity for fraud
• Ways to detect internal fraud

(Sep. 27; 1 to 5 pm) Contractor Compliance – Recordkeeping & Reporting &
Tax Reporting – What you need to understand to minimize cost and avoid excess taxation

• Lien Waivers
• Wage Scale, Certified Payroll
• Maryland Apprenticeship Training Fund
• MBE Participation
• Certificate of Insurance
• Bonding
• W-9 Forms
• Personal Property Tax – planning ahead and accurate reporting
• Payroll Taxes – Accuracy and timing are critical
• 1099s – who should get one, and who should not
• Work Opportunity Tax Credit – who qualifies and how to secure tax credit

(Sept. 28; 1 to 5 pm) Job Costing – Why it’s important and how to track costs & Accounts Receivable and Accounts Payable

• Measurement of job profitability
• Organize costs by Job, Phase or Division, Cost Code and Cost Type
• Construction specifications Institute Division Codes
• Estimated cost compared to actual costs
• AIA Progress Billings
• Customer payment and cash flow
• Common issues that delay AR processing
• Purchase Orders, Confirmation & Approval, Invoice payments
• Internal Controls and fraud protection
• Avoid AP errors that can cause over-payment