COR1957. Strategies in Indirect & Equipment Cost Allocations

Track: 
CFO - Construction
Field of Study: 
Accounting
CPE Credit: 
1.0
Knowledge Level: 
Intermediate
Advanced Preparation: 
None
Prerequisite: 
Attendees should have a basic understanding of A&A, Tax and Industry Issues

Friday, December 6, 2019
 
4:15pm-5:05pm

Establishing effective and appropriate methods for charging direct, indirect and equipment costs to jobs is critical in accounting for contract costs. In this session, we will review different strategies and methods for job costing including the allocation of indirect and equipment costs. In addition, we will explore best practices and review real life examples of how to align your estimating, budgeting and accounting methods for indirect and equipment costs.
Learning Objectives:

  • Learning Objectives: 1. Understand how to account for different types of job costs per GAAP and through real-life examples.
  • 2. Identify appropriate cost methods to allocate different pools of indirect and equipment costs.
  • 3. Determine methods to align your estimating, budgeting and accounting for different types of job costs.
  • 4. Understand the economics of equipment costs including how to align your costing methods and structure with your corporate culture. 5. Determine audit considerations to analyze the absorption of indirect and equipment costs from a CFO’s perspective.