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Life Long Learning – The Key to being the Best Construction Financial Professional You Can Be (continued)

December 12th, 2012 by Bob Biehl

As I wrote back in the summer, CPA’s are required to obtain 40 hours and CCIFP’s (Certified Construction Industry Financial Professional) are required to obtain 24 hours of continuing education classes each year.  At the AICPA National Construction Industry Conference held this past December 6 & 7 in Las Vegas, I continued my journey towards meeting those requirements.  This is the best technical construction accounting, tax and consulting conference in the country.  The best of the best of the construction industry attend this conference and the networking and learning is unsurpassed.  At the conference, I learned about the following topics:

  • How the Economy is Impacting the Construction Industry – An Economic Forecast
  • Surety Panel – What is the Latest?
  • Fraud in the Construction Industry
  • Surety Perspective on Contractors Financial Statements
  • Developing Survival Plans
  • Trends and Emerging Issues in the Construction Industry
  • FASB Standards Update – Revenue Recognition and Lease Accounting
  • Accounting for Project Joint Ventures
  • And many more interesting topics

In addition, I taught a session titled “Best Practices for Indirect Cost Allocations with an Emphasis on Equipment and the Shop”.  One drawback of the conference was that I was the last presenter on Friday – the last session of the conference.  How many of you would want to hear a presentation on indirect cost allocations when you could be enjoying the activities of Las Vegas?   The answer is probably not very many, but luckily, there were over 100 people in attendance.  What is wrong with these people?

All in all, it was a great conference with great learning and networking opportunities for me.  I gained a greater understanding of the industry I serve.  It is important for each of us to have a life-long learning plan.  It is what sets us apart from our peers, allows us to do our job better and ultimately makes us a more well-rounded professional.  I encourage each of you to continue to develop yourself.  If you would like to hear more about either of these conferences or topics above, please contact me at

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