Sessions For December 6

7:00am-6:00pm

8:00am-8:10am

06

Thursday
8:10am-9:00am

1. Construction of the Raiders Stadium

Instructor: Mike Bolen
Track: Combined
Knowledge Level: Overview
Field of Study: Specialized Knowledge
CPE Credits: 1.0

This 50-minute overview will provide insights into the pursuit, planning and construction of the $1.4B, 65,000-seat Las Vegas Stadium. As the new home of the recently relocated NFL Raiders franchise and the UNLV Runnin? Rebels, this project is considered by many to be the future of sports stadiums. Objectives:
Take a journey down the local and political path the community took to come together in order to entice, approve, and lay the groundwork legislatively and financially for this new icon in Las Vegas.
Learn about the economic impacts a project of this magnitude has on Las Vegas and the wide range of added benefits a unique building like this brings to the Entertainment Capital of the World.

06

Thursday
9:05am-10:20am

2. Tax and Legislative Update

Instructor: Matthew Turkstra
Track: Tax - Construction
Knowledge Level: Update
Field of Study: Taxes
CPE Credits: 1.5

This session will provide an inside look at Washington, DC and what the spending decisions, tax reform, and infrastructure proposals mean to companies competing to be profitable in the industry. This sessions will help you to:
1. Recognize the tangible opportunities policy makers have to impact your bottom line
2. Recommend appropriate strategies based on possible public policy outcomes
3. Gain realistic knowledge of complexity of policy decision making

06

Thursday
9:05am-10:20am

3. Emerging Trends in Real Estate

Instructor: Mitchell Roschelle
Track: Industry - Real Estate
Knowledge Level: Update
Field of Study: Economics
CPE Credits: 1.5

This session is an outlook for the Real Estate industry and markets looking at 2019 and beyond. The discussion will include a retrospective on the past several economic cycles and the lessons learned along the way. Learning Objective: Gain timely relevant industry feedback intended to enable AICPA members to better serve clients and support organizations.

10:20am - 10:50am

06

Thursday
10:50am-12:05pm

4. Revenue Recognition - What did we learn from Public Companies?

Instructor: Erin Roberts
Track: Accounting & Auditing - Construction
Knowledge Level: Intermediate
Field of Study: Accounting
CPE Credits: 1.5

Calendar year end public companies adopted the new revenue recognition standard, ASC 606: Revenue from Contracts with Customers, in the first quarter of 2018. Hear from the Global Leader of the Engineering and Construction industry for EY what impacts were felt by public companies upon adoption, including changes in revenue recognition methods and policies, classification of contract assets and liabilities, impact on tax accounts and new disclosures. Learning Objectives:
1. To identify key changes in revenue recognition that will be required upon adoption of the new revenue recognition standard, as disclosed by those who have already adopted the standard.
2. To identify new methods of classification of contract relate

06

Thursday
10:50am-12:05pm

5. CFO Panel

Instructor: Tara Zaffino, Matthew Brenner, Matthew Jordan
Track: Industry - Real Estate
Knowledge Level: Intermediate
Field of Study: Finance
CPE Credits: 1.5

This session will be a Q & A on:
1. How to be an effective CFO in the Real Estate Industry
2. Responsibilities and necessary characteristics of a Real Estate industry CFO
3. We will also identify key areas of focus and risks

12:05pm-1:05pm

06

Thursday
1:05pm-2:20pm

6. Audit Readiness: The CPA Side

Instructor: Carl Oliveri, Steve Mannhaupt
Track: CFO - Construction
Knowledge Level: Intermediate
Field of Study: Auditing
CPE Credits: 1.5

The session will focus on what audit procedures you can perform during the interim period. And how you link those procedures into your year-end field work for the engagement.
1. Identify what audit tasks can be pulled out of busy season and done now.
2. Utilize rollforwards in high risk areas 3. Learn how to link the interim procedures to your fieldwork.

06

Thursday
1:05pm-2:20pm

7. Analysis of WIP Schedules Focusing on Risk Areas

Instructor: Emilio Alvarez, Julian Xavier
Track: Accounting & Auditing - Construction
Knowledge Level: Intermediate
Field of Study: Accounting
CPE Credits: 1.5

This session will focus on how to perform an analysis of WIP schedules, review of contract risk assessment, highlight real life examples of WIP schedule issues encountered.
1) Understand how to analyze WIP schedule and identify riskier projects
2) Review and discuss real life examples of WIP presentation issues and impact to financial statements

06

Thursday
1:05pm-2:20pm

8. TCJA: The Myth of the Rise of C-Corp

Instructor: Barry Fischman
Track: Tax - Construction
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.5

This session will focus on the impact of the Tax Cut and Jobs Act on entity selection for income tax purposes. Discussion overview of the changes to pass-through entities and C-Corporations as well as an analysis of both tax and non-tax advantages/disadvantages of entity choice. Learning Objectives:
1. Provide an overview of the TCJA legislative changes to the income taxation of pass-through entities and C-Corporations.
2. Review entity selection criteria post TCJA.

06

Thursday
1:05pm-2:20pm

9. Cybersecurity

Instructor: Glenn Siriano
Track: Combined
Knowledge Level: Overview
Field of Study: Information Technology
CPE Credits: 1.5

This session will provide the audience with an update of current developments in Cyber security and what leading organizations are doing to reduce the risk associated with the ever changing threat landscape. Learning Objectives include:
1. Update the audience on the current cyber threat landscape
2. Discuss leading practices for reducing cyber risk
3. Provide an understanding of how boards and audit committees are addressing cyber risk

06

Thursday
1:05pm-2:20pm

10. Accounting Update (Repeated in Session 47)

Instructor: Joe DiLeo
Track: Accounting & Auditing - Real Estate
Knowledge Level: Intermediate
Field of Study: Accounting
CPE Credits: 1.5

This session will provide an update on recent accounting guidance. Learning objectives in include discussion around updates to leases, revenue, and other recent accounting pronoucements.

06

Thursday
1:05pm-2:20pm

11. Choice of Entity After the TCJA of 2017

Instructor: Howard Abrams
Track: Tax - Real Estate
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.5

C Corporation, S Corporation or Partnership (including LLCs): the choices remain but the analysis is vastly different. In this session, we will look at what has changed and how it affects choice of entity decision. Learning Objectives:
(1) Appreciate the significance of rate reductions including section 199A.
(2) Understand the importance and limitations of the expansion of bonus depreciation.
(3) As interest rates rise, the importance of deferral increases. Learn where deferral opportunities exist.

06

Thursday
2:30pm-3:45pm

12. Construction Basics, Bidding, Documenting Claims, & Getting Paid

Instructor: Joe Caldarera
Track: CFO - Construction
Knowledge Level: Intermediate
Field of Study: Management Services
CPE Credits: 1.5

This session will provide a window into the basics of a construction project and will move into the importance of a good bid, contemporaneous documentation after award and a methodology for getting paid in the event of project delays or other unforeseen circumstances giving rise to a claim. The learning objective of this seminar is to facilitate an understanding of the basics of a construction project from understanding the duties of the parties, the methods of establishing the values by which a contractor is paid, and the tools provided for in the Contract Documents by which a methodology for presenting claims in the event unforeseen circumstances and delays are encountered.

06

Thursday
2:30pm-3:45pm

13. Benchmarking and Analytical Procedures

Instructor: James Miller
Track: Accounting & Auditing - Construction
Knowledge Level: Intermediate
Field of Study: Accounting, Auditing
CPE Credits: 1.5

This session will provide valuable benchmarking tools and analysis as well as key analytical procedures used to analyze a contractor's financial statements and financial position. Learning Objectives:
1. Understanding construction contractor's financial statements
2. Being able to identify any issues through analytical review procedures.

06

Thursday
2:30pm-3:45pm

14. Tax Accounting Methods + Form 3115 + Under 25 Million (Repeated in Session 56)

Instructor: Eric Wallace
Track: Tax - Construction
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.5

Tax Accounting Methods and their related Method Changes are always Key Issues for the IRS. Proper tax accounting methods and continuing IRS changes to their method change procedures are at the front and center of all IRS audits. Tax accounting methods and changes have certainly had heightened awareness and importance to tax practitioners over the past few years. The IRS continues to focus its audit eyes on whether taxpayers are employing the proper tax accounting methods and has adopted the required tax accounting methods where dictated. Beyond required method changes, tax practitioners should also adapt client tax methods to the ones that provide the best possible deferrals. All industries have to comply with tax method change basics, i.e. the rules and procedures. Construction is an industry that has very specialized tax method alternatives that are confusing and prone to mistakes in their employment. 2018 a big watershed year due to the $25M and under new tax law. Contractors under that threshold can employ cash or the CCM. The keys are how to analyze what method(s) would be best and how to make that transition from the current regular and long-term accounting methods employed. Understanding method changes takes knowledge of what is allowed and permitted compared to what is not, methodology to accomplish such, in addition to knowing those tax methods that provide the greatest potential tax deferrals. Learning Objectives:
(1) identify what changes and when method changes require advance consent (non-automatic) vs. automatic IRS Form 3115 filings,
(2) obtain the latest update on the latest IRS procedures on method changes,
(3) learn how to determine the best possible methods to consider for contractor types,
(4) decipher the latest rules on how to make the new $25M and under tax law change to either cash or non-PCM (CCM or other).

06

Thursday
2:30pm-3:45pm

15. Reconciling Technology Use to Cost

Track: Combined
Knowledge Level: Intermediate
Field of Study: Information Technology
CPE Credits: 1.5

This panel discussion will examine the way in which construction companies are making IT investment decisions today, monitoring IT spending, and setting expectations relative to ROI. Learning Objective: explore the changes in the IT landscape, how IT staffing has changed, and how today?s contractors are having to make difficult decisions regarding IT investment. It is no longer sufficient to simply have a single benchmark against revenue or overhead cost. Contractors need more dynamics methods for measuring investment, return and performance.

06

Thursday
2:30pm-3:45pm

16. Lease Accounting 101

Instructor: Justin Frenzel
Track: Accounting & Auditing - Real Estate
Knowledge Level: Intermediate
Field of Study: Accounting
CPE Credits: 1.5

This session will be a general accounting discussion for the new leases standard

06

Thursday
2:30pm-3:45pm

17. Section 199A - Understanding the New Business Income Deduction

Instructor: Matthew Arndt
Track: Tax - Real Estate
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.5

This presentation will cover the new section 199A business income deduction and its potential applicability for your business. You will learn about:
1. The requirements that must be met in order to qualify for the new section 199A business income deduction.
2. The technical uncertainties that must be navigated in order to obtain the new section 199A business income deduction

06

Thursday
4:15pm-5:05pm

18. The New Revenue Recognition Standard: Practical Implementation Panel (Repeated in Session 37)

Instructor: Erin Roberts, Mike Love , TBD
Track: CFO - Construction
Knowledge Level: Intermediate
Field of Study: Auditing
CPE Credits: 1.0

Hear directly from Engineering & Construction CFO's and Controllers about the process they have followed in evaluating the effects of the new revenue recognition standard, and how they have worked with their auditors to ensure a smooth transition. Learning Objectives:
1. To understand key elements of an effective implementation approach for the new revenue recognition standard
2. To understand what requirements auditors have established to audit the implementation of the new standard

06

Thursday
4:15pm-5:05pm

19. Maximizing the new 20% Qualified Business Income Deduction (Repeated in Session 51)

Instructor: Cord Armstrong
Track: Tax - Construction
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.0

The focus of this presentation is how owners of eligible businesses can take full advantage of the new 20 percent Qualified Business Income (QBI) deduction. This new section of the code, 199A, was created under what is known as the Tax Cuts and Jobs Act (TCJA) passed on December 15, 2017 and applies to taxpayers for the 2018 year. This new 20 percent deduction is unprecedented and since many construction firms operate under some form of pass-through structure this deduction will benefit many in the industry. However, this new deduction is highly complicated and taxpayers will need to know how to navigate through the various phase outs and limitations known as ?safeguards? that Congress laden this new code section with.
1. Understand which type of businesses and what types of income qualify for the deduction
2. Understand the various limitations and phase outs that could limit the deduction
3. Learn what strategies are available that can be used to potentially maximize the deduction

06

Thursday
4:15pm-5:05pm

20. Real Estate Capital Markets Update

Instructor: Mike Easter
Track: Industry - Real Estate
Knowledge Level: Intermediate
Field of Study: Finance
CPE Credits: 1.0

Learners can expect to leave this session with increased awareness of real estate capital market updates and trends.

06

Thursday
4:15pm-5:05pm

21. Definition of a Business

Instructor: Logan Redlin
Track: Accounting & Auditing - Real Estate
Knowledge Level: Intermediate
Field of Study: Accounting, Auditing
CPE Credits: 1.0

After this session you will understand the changes in the definition of a business and implications for real estate companies. We will:
1. Discuss the updated guidance and specific impacts and considerations for the real estate industry with regards to the change of the definition of a business.
2. Discuss various examples and case studies that highlight the changes and application of the guidance.

06

Thursday
4:15pm-5:05pm

22. Impact of TCJA Interest Expense Limitation Rules on Real Estate

Instructor: Andrea Whiteway
Track: Tax - Real Estate
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.0

This session will discuss the recently enacted Interest Expense Limitation rules as part of the Tax Cuts and Jobs Act. We will discuss how these rules apply in the partnership context and delve into the decision points to consider when engaged in a real property trade or business. Learning Objectives:
1. Determine whether entity is subject to interest expenses limitation rules
2. Analyze whether to elect real property trade or business treatment

06

Thursday
5:15pm-6:05pm

23. ESOPs: An Objective Overview for the Construction Industry

Instructor: Tony Ivener, William Gust
Track: CFO - Construction
Knowledge Level: Intermediate
Field of Study: Management Services
CPE Credits: 1.0

This session will cover what a contractor needs to know when considering an ESOP as part of a succession/continuity and ownership transfer strategy. This session will provide an analysis from beginning to end so that there are no surprises, and will assist the contractor in knowing what questions to ask and how to analyze an ESOP alternative in a construction environment.
1. Learn what an ESOP is and how it works
2. Explore the myths, transaction structures, and tax efficiencies of ESOPs as well as how to communicate to the bonding company
3. Review ESOPs for S and C corporations, ESOP trustees, ESOP valuation, and ESOP as an exit strategy, as well as what questions to ask
4. Understand how to hold your advisors accountable and how to analyze a Phase 1 ESOP feasibility report

06

Thursday
5:15pm-6:05pm

24. Audit Innovation: Ideas to Streamline and Enhance Audit Process

Instructor: Russ Rigler, Julian Xavier
Track: Accounting & Auditing - Construction
Knowledge Level: Intermediate
Field of Study: Auditing
CPE Credits: 1.0

In this session, presenters will discuss and review audit innovation ideas to help increase efficiency and overall timing of an audit of a contractor. The session will touch on use of technology, strategies around timing of audit procedures and best practices to audit coordination with the contractor client.
1) Understand strategies on how to use technology to increase audit efficiency
2) Learn how to strategically perform audit procedures to maximize staffing capacity
3) Learn about methods to efficiently coordinate audit process with the contractor client.

06

Thursday
5:15pm-6:05pm

25. 10 SALT Tax Considerations Before Bidding In a New State

Instructor: Alan Clark
Track: Tax - Construction
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.0

This session will focus on compliance with state and local laws is a challenge for contractors when entering a new state. This session will highlight some of the challenges and ways to meet those challenges
1. Attendee will learn some of the issues involved with SALT compliance.
2. Attendee will learn how to find the resources for compliance with SALT challenges.

06

Thursday
5:15pm-6:05pm

26. Implementing ASC 606 - Revenue Recognition

Instructor: Lisa Swartos, Scott Leback
Track: Accounting & Auditing - Real Estate
Knowledge Level: Intermediate
Field of Study: Accounting
CPE Credits: 1.0

While you may have an understanding of the basic concepts of ASC 606, during this session we will discuss some of the implementation challenges of this new standard. Such as potential impacts to internal control process, additional required information needed for new disclosure requirements and potential impacts of the financial reporting process. Learning Objectives:
1. Identify areas of complexity that will require significant judgments upon adoption of ASC 606.
2. Outline areas of concern for changes in accounting policies and procedures and internal control changes needed to ensure compliance with ASC 606.

06

Thursday
5:15pm-6:05pm

27. Tax Reform: Bonus Depreciation and Cost Recovery

Instructor: Nathan Clark
Track: Tax - Real Estate
Knowledge Level: Intermediate
Field of Study: Taxes
CPE Credits: 1.0

This session will:
1. Cover the bonus depreciation, section 179, cost recovery, and other related topics impacted by tax reform.
2. You will understand how bonus depreciation and cost recovery were changed by the Tax Cuts and Jobs Act.

6:00pm-7:00pm