CCIFP Exam Prep: Accounting & Reporting

This course provides a comprehensive overview of essential accounting and reporting practices unique to the construction industry. Covering authoritative guidance, accounting methods, lease and equipment accounting, subcontractor payables, receivables, and financial statements, this course prepares learners to meet both compliance and managerial reporting demands. Participants will develop a deep understanding of how to analyze financial performance, manage contract-related risks, and support project and company-wide financial health. Emphasis is placed on integrating financial data into decision-making processes, interpreting audit findings, and enhancing profitability through accurate reporting and analysis. This twelve-module course introduces the key accounting and reporting concepts and practices that comply with current construction accounting standards. The twelfth module is a comprehensive final exam that requires achieving 70% or better to earn CPE credit. You will have one year with unlimited attempts to pass the multiple-choice question assessment and earn CPE credit. You will also have one year to review the module content, resources, knowledge checks, and final exam to help you prepare for the exam. Please note that successful completion of this program does not guarantee that you will pass the actual CCIFP exam.

• Apply construction-specific accounting standards and methods, including percentage-of-completion and completed-contract methods.
• Accurately record and disclose financial data, including receivables, retention, costs in excess/billings in excess, and subcontractor payables, in alignment with GAAP and ASC 842.
• Analyze and interpret financial statements and audit reports to evaluate company performance, meet regulatory requirements, and support informed decision-making.
• Implement effective cost allocation and equipment accounting practices, and manage project finances to support timely, cost-effective project execution.
• Evaluate gross profit margins and identify strategies for improving project profitability, while maintaining compliance and financial transparency.

• Anyone preparing for the CCIFP exam
• Professionals needing to understand accounting & reporting in construction
• Accountants & CPAs looking to advance in the construction industry
• Project Managers & other Construction Managers
• Controllers & Finance Managers
• Service Providers in the construction industry
• Owners of construction companies