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How do we account for a loss contract?

Learn from Mike Stephens, CPA, Construction Principal, CLA. Mike will explain three main areas of loss contracts: what it is, how it is accounted for, and how it’s presented in the financial statement. Want to learn more? Explore CFMA's educational opportunities at cfma.org/education. 

To read more about contracts, explore CFMA’s Content Hub at cfma.org/content-hub. 

Disclaimer: The information contained herein should NOT be used as a substitute for the advice of a qualified professional. The information provided here is for informational purposes only. This content may not cover all possible scenarios or outcomes, so we encourage you to check with a professional if you have specific questions or concerns regarding your company. CFMA strives to provide accurate and up-to-date information, no guarantee is made to that effect.