Artificial intelligence (AI) is on a remarkable growth trajectory, poised to reach $407 billion by 2027. With an abundance of tools available, finance professionals need to understand how to harness its power for maximum impact. In this session, Claire Wilson and Modupe Akinnawonu will explore current and future AI trends that have the potential to transform the industry. Using real-world examples, they will showcase how AI can optimize project financials, streamline cost management, and drive business growth. Join us to gain valuable insights into the benefits of AI in construction finance and learn practical strategies to leverage AI tools effectively.

What are the key aspects of the new CECL standard that impact contractors? Is Going Concern an issue for our 2023 financial statements? Any relief regarding ASU842 and related party leases? These are the questions our speakers will address during this webinar.

Objectives:

• Learn about lessons learned regarding ASU 842 and related party leases
• Understand what is in scope of the CECL standard, including contract assets and contract receivables
  
• Identify how the speaker’s firms are implementing CECL on their contractor engagements
• Learn about things you need to consider regarding going concern, your contractors, and the 2024 economic environment

Gain an understanding of the fundamentals of construction taxation

Learning Objectives:

• Understanding contractor tax accounting methods
• Understanding the new Section 199A deduction
• Learn about the Alternative Minimum Tax
• Learn about the look-back interest calculation
• Review changes in tax accounting methods.
• Learn some tax planning strategies for contractors

This webinar focuses on Section 179D and the Investment Tax Credit, two energy efficient tax incentives that were included in the Inflation Reduction Act. Participants will gain insights into both incentives including the history, value, eligibility, and requirements to apply for these incentives.

Learning Objectives:

1. Participants will understand eligibility requirements and new rules introduced in the Inflation Reduction Act.
2. Participants will learn how to identify potential opportunities and value for your clients.
   
3. Participants will better understand the required documentation needed to apply for these incentives.
   

During this webinar, the presenter will share with you how clients can use technology to protect profits and enhance strategic decision making.

Learning Objectives:

• Gain insights into the latest technological advancements and automation tools to streamline the forecasting process and elevate your CPA services
• How to maximize profitability by utilizing advanced methodologies and tools
• Gain a deep understanding of cash flow forecasting and its critical role in driving financial success and stability in the construction sector
• Learn how to leverage historical data, market trends, and project pipelines to develop accurate revenue forecasts.

During the webinar, two CICPAC member firms will share some of the advisory services their firms provide for construction clients.

Learning Objectives:

• Learn about the difference between a CPA firm vs a professional services firm mindset
  
• Learn how one member firm is assisting clients with succession planning documents
  
• Learn how a member firm is focusing on outsourced accounting and advisory services for contactors and how CICPAC member firms can work together to increase revenue and realization for both firms.
  
• Learn how member firms are helping contractors with people solutions, recruiting, leadership development, and executive coaching.
  

Publicly funded Prevailing Wage and Davis-Bacon contracts are on the rise, and so is the competition for your clients to win these potentially lucrative jobs! Join CICPAC and Beneco for a one-hour webinar to learn how your clients can grow their business with prevailing wage work, including upcoming infrastructure projects. We will review various tax-saving strategies and compliance concerns that we have been helping our clients with for over 35 years.

Learning Objectives:

• Learn about reducing labor costs of prevailing wage projects
  
• Learn about reducing the cost of employee benefits with fringe dollars
  
• Learn about the new Secure 2.0 Act Tax Credits for contractors
• Learn about fringe dollars & profit sharing: Reducing taxes & rewarding business owners
  

With accounting marketing comes daily challenges that drive us to learn better ways to grow our firms. This will only get more intense in the future as technology changes. Some areas that are driving this include:

• Artificial Intelligence - Voice activation, automating functions, in the marketing and lead generation processes, and digital search optimization.
• Relevant Content - Interactivity and personalization of communications.
• Social Media - Engagement building and interactivity, live streaming, and social influencers.

We will discuss each of these topics and the activities to guide discussion on ways CICPAC member firm marketers can stay up-to-date.

Learning Objectives:

• Understand the trends that may change the accounting marketing landscape.
  
• Identify ways your firm can tackle these items.
  
• Discuss the resources CICPAC has that your firm can utilize.

During this session, the presenters will cover potential contingent liabilities for contractors related to ERC, PPP loans, and other transactions. This session will also include a discussion related to ASC 842 implementation challenges for contractors.

Learning Objectives:

• Learn about potential contingent liabilities for contractors related to ERC and PPP loans
• Learn about disclosures related to potential contingent liabilities that should be included in financial statements
• Learn about the implementation of ASC 842 challenges for contractors

In August of 2022, the Inflation Reduction Act of 2022 became law. This far-reaching law includes new and expanded tax credits for green energy and energy efficiency. Construction companies and their CPAs need to be aware of how some of these changes will affect their companies and their clients. Some of these changes include an overhaul to how 179D and 45L are calculated. Additionally, the bill creates a new prevailing wage requirement that contractors will have to be aware of when tracking costs.

Learning Objectives:

• An overview of the changes related to 179D and 45L
• An update on how prevailing wage affects these credits and deductions
• An overview of other credits and deductions that will affect the construction industry