FAQs about Construction Accounting CPE.
Try LumiQ for freeYes. These courses are designed for CPAs and finance professionals working in or serving the construction industry. Content is focused on construction accounting, job costing, and financial reporting for contractors, and is not intended to satisfy licensing requirements for general contractors or project managers. CPE requirements vary by state and profession.
Construction accounting CPE courses commonly cover topics such as:
• Job costing and work-in-progress (WIP) schedules
• Revenue recognition under percentage-of-completion and completed contract methods
• Construction financial statements and reporting
• Surety bonding and the relationship between the contractor and the surety
• GAAP accounting standards applicable to the construction industry
• Internal controls and risk assessment in construction
• Change orders, contract claims, and dispute resolution
• Fixed asset accounting and depreciation methods
These are the two primary revenue recognition methods used in construction accounting:
• The percentage-of-completion method recognizes revenue and gross profit proportionally as work is performed, based on the estimated stage of completion. This method is generally required under GAAP for long-term contracts when reliable estimates can be made.
• The completed contract method defers revenue and gross profit recognition until the contract is substantially complete. This method is less common under GAAP but may be used in limited circumstances.
Understanding when and how to apply each method is a core competency for CPAs serving construction clients.
A work-in-progress (WIP) schedule is a detailed financial report that tracks the status of all open construction contracts. It shows the contract value, costs incurred to date, estimated costs to complete, revenue earned, and whether each project is over-billed or under-billed. The WIP schedule is a critical internal control tool and is closely reviewed by sureties, lenders, and auditors to assess a contractor's financial health and project management.
Job costing is the process of tracking all costs, including labor, materials, subcontractors, and overhead, to individual construction projects. Accurate job costing supports profitability analysis, project management, and the preparation of reliable financial statements. Job cost ledgers are a foundational component of construction accounting and are essential for producing accurate WIP schedules and supporting audit engagements.
There are no formal prerequisites required to enroll. However, some advanced topics, such as surety credit analysis, construction claims, and complex revenue recognition scenarios, may assume familiarity with general accounting, taxation, or finance concepts.
Podcasts can deliver superior learning outcomes compared to live webinars and recorded webcasts. Audio-only formats reduce cognitive overload and "Zoom fatigue," allowing your brain to retain information better. Additionally, unlike live or in-person options, you can pause and replay complex blockchain and digital asset concepts as needed for comprehension.
Podcasts also fit your schedule and your life better. Unlike live webinars with fixed start times, podcasts let you earn CPE during your commute, between clients, or whenever works best.
In short, you get the same credit hours with better retention and zero scheduling conflicts.
CPE credits vary by course. Typically they range from 1 to 2 hours per podcast and 3 to 9 hours for our in-depth, multi-episode learning paths. Each course listing clearly displays the credits you'll earn upon completion. All credits are earned once you complete the podcast episode in full and pass the final assessment.
LumiQ is registered with the National Association of State Boards of Accountancy (NASBA) in the U.S. as a CPE sponsor (Sponsor ID: 146039). Courses completed through NASBA-registered sponsors are generally accepted by U.S. boards of accountancy, subject to each state board’s specific CPE requirements.
LumiQ's QAS self-study construction accounting courses provide CPE credit hours upon completion. Your certificate of completion documents the course, the relevant NASBA field of study, and credit hours earned.
Because CPE requirements and acceptance ultimately vary by state and by licensee circumstances, CPAs are responsible for confirming that a specific course meets their state board's renewal requirements
Yes. With a LumiQ account you have access to the CPE Tracker. LumiQ Tracker automatically tracks the CPE you earn with LumiQ, and you can download certificates of completion at any time.
Yes. LumiQ works on mobile. We have an app for both Apple and Android devices so you can complete on-demand CPE during your commute, workout, or whenever it fits your schedule.
Click here to go to the Google Play Store and click here to go to the Apple App Store.
Yes! Sign up for a free trial today and get 3 NASBA-approved CPE credits, no credit card required. To purchase a full subscription, visit our pricing page. If you work for a company with a team of CPAs, or others who may be interested, contact us for team pricing options.






















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