Project Accounting (CPE Course)

CPE Credit: 3 hours

Course Type: Downloaded PDF materials with online test

Price (with PDF Textbook): $35

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Course Description
Accounting for a major project presents the accountant with a multitude of difficult accounting issues. The Project Accounting course shows how to deal with these concerns by describing the ideal cost collection system and how to record expenses and revenues within it. The course also addresses the management of change orders, allowances, and contingencies, while noting the impact of GAAP requirements on specific project issues, including interest capitalization and the treatment of research and development costs. The controls and measurements used for projects are also discussed. The broad range of topics covered make this course an essential tool for the project accountant.

Author: Steven Bragg

Course Number: AC1081

Table of Contents

Chapter 1. Overview of Project Accounting
Chapter 2. Project Pricing, Billing, and Revenue
Chapter 3. Project Costs
Chapter 4. Project Cost Management
Chapter 5. Interest Capitalization
Chapter 6. Additional Project Accounting Topics
Chapter 7. Project Controls
Chapter 8. Project Measurements 

Learning Objectives

  • Identify the key characteristics of a project.

  • Specify the pricing calculation methods for project contracts, as well as the issues associated with the different profit recognition methods.

  • Recognize the different types of direct costs associated with a project, as well as the costs incurred to obtain a contract.

  • Specify the circumstances under which allowances are included in a project budget.

  • Recognize the circumstances under which interest is capitalized.

  • Identify the circumstances under which the costs associated with internal-use software development and website development should be capitalized or charged to expense.

  • Specify the controls related to the assignment of costs and the calculation of the percentage of completion.

  • Identify the contents of the formulas associated with the analysis of projects.

Level: Overview

Instructional Method: QAS Self-Study

NASBA Category: Accounting

Prerequisites: None

Advance Preparation: None

Latest Review Date: October 2023

Program Registration Requirements: Click on "Purchase Course" near the top of this page to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.

Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

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AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.