The session will focus on an in-depth review of the contracts in progress (CIP) schedule and the related completed contract schedule, including: Required contract disclosure information; New revenue recognition standards; Reporting claims, change orders, liquidated damages, escalation clauses and other contract changes; Most common preparation errors.
Participants will hear the "Do's and Don't's" when preparing the Contracts in Progress (CIP) schedule
Participants will learn what disclosure information is required to be included on the CIP schedule and related financial statement footnotes.
Learn about key benchmarks and red-flag indicators to review when analyzing the CIP schedule, including under/over billing analysis
Participants will learn about best practices to use when designing and preparing the CIP schedule