Friday, Jul 13, 9-11:30 AM

Work-in-Progress (WIP) Accounting for Contractors

Urban League of Louisiana, Contractor's Resource Center

The volume of work done by a contractor under terms of a contract to date is called work-in-progress.
Work-in-progress value makes it possible for the contractor to check the time schedule to complete the contract work.
To properly track revenues per accounting standards, revenue should be recognized when the expense is incurred.
This workshop will help you to: Discover and track the status of contracts using the WIP schedule Utilize earned revenue to determine projections Understand profit in a project and how to maximize it Budget and set goals Track inefficiencies of a project and locate areas needed for improvement Bring contracts for current projects!
You will need: Contract Price Total Estimated Cost Billed-to-Date Actual Cost-to-Date Only reserved seats are guaranteed, so secure your spot today by
completing your Eventbrite registration. *Registration is non-refundable.