Florida Regional Conference

Nov 14, 2019 ‐ Nov 15, 2019



Sessions

Revenue Recognition and the Commercial Contractor

Nov 14, 2019 2:00pm ‐ Nov 14, 2019 2:50pm

Identification: 1

This new "one size fits all" principles-based approach to revenue recognition is a paradigm shift for all contractors who have been accustomed to the percentage-of-completion (PCM) rules-based approach for the last 35-plus years. This presentation will cover: The New Standard and its Five Step Approach, Major Changes for Contractors, Transition Methods and New Disclosure Requirements, and Practical and ancillary issues to consider. 

Learning Objectives: 

  1. Overview of new Revenue Recognition Standard 
  2. Issues with transitions and footnote disclosures 
  3. Consideration of potential and practical issues

Speaker(s):
  • Rich Shavell, CPA, Shavell & Company, P.A., CPAs and Consultants

How Data Analytics Will Improve Your Bottom Line

Nov 14, 2019 2:50pm ‐ Nov 14, 2019 3:40pm

Identification: 2

Most organizations are sitting on massive amounts of data, but they fail to leverage this data to make better decisions or improve their competitive position.

Learning Objectives: 

  1. Use data from multiple sources to build a complete picture of business performance 
  2. Create a consistent definition of metrics, across a range of business functions 
  3. Deploy interactive visualizations using a Real World Case Study

Speaker(s):

Mock Trial PresentationMock Trial Presentation

Preview Available

Mock Trial Presentation

Nov 14, 2019 3:45pm ‐ Nov 14, 2019 5:00pm

Identification: 3

The presentation is a brief glimpse into how a trial of a construction dispute between the General Contractor and Electrical Contractor often looks when presented through testimony and visual evidence. The presentation is lively and entertaining, and promises considerable audience participation. The audience deliberates as the “jury,” and then ultimately renders the verdict. The dispute focuses on common issues on large projects and commonly litigated construction contract terms. 

Learning Objectives: 

  1. Negotiate and preserve change order claims 
  2. Understand how different change and notice provisions affect your company's risk profiles and potential recoveries 
  3. Implement a change negotiation strategy that is realistic, preserves relationships, and allows the subcontractor to help the general with owner negotiations 
  4. Understand how evidence should be gathered and preserved and how that will affect your company's recovery in the event of a change dispute

Speaker(s):

Make the New Tax Law Work for You

Nov 15, 2019 8:00am ‐ Nov 15, 2019 9:15am

Identification: 4

The new tax law has many choices for methods and deductions. The presentation will help the attendees identify those choices, understand the conflicts between certain sections of the Code and help navigate the complexities of the current tax law. 

Learning Objectives: 

  1. Is it better to expense new equipment for a current depreciation write off or is it better to keep the profits for a larger Section 199A deduction? 
  2. When is it better to expense new assets with Section 179 compared to Section 168(k)? 
  3. What advantages do businesses have if they elect to use a new tax method?

Speaker(s):
  • Alan Clark, MBA, CPA, Partner, Smith, Adcock and Company LLP

Emerging Issues/Annual UpdateEmerging Issues/Annual Update

Preview Available

Emerging Issues/Annual Update

Nov 15, 2019 9:30am ‐ Nov 15, 2019 10:20am

Identification: 5

This session will cover new accounting and auditing standards affecting the construction industry in the current and upcoming year. Attendees will be able to identify how these changes will impact their financial statements. 

Learning objectives: 

  1. Recognize ASUs that are currently affecting industry financial statements
  2. Identify recently issued ASUs that will be effective in the future 
  3. Identify emerging trends in the construction industry 

Level: Intermediate

Speaker(s):

Florida Lien Law – Know How To Protect Your Interest And Get Paid

Nov 15, 2019 10:35am ‐ Nov 15, 2019 11:50am

Identification: 6

We have all been there. The 2nd Tier Subcontractor wondering why they are not getting paid. The General Contractor trying to get their final retainage monies from the Owner. You do not want to ruffle any feathers, but the days on the calendar are flying by with no sign of invoices being paid. How long do you have to file a lien or bond claim? Can you file a lien on change orders? Can you file a bond claim on change orders? A behind the curtain look at the Florida Lien Law. 

Learning Objectives: 

  1. How to perfect Lien Rights with proper and timely notices 
  2. How to Properly Compile A Lien 
  3. The Importance of Responding to Requests for Information Pursuant to the Lien Law 

Level: Basic

Speaker(s):

How to Prepare for the Next Downturn

Nov 15, 2019 1:00pm ‐ Nov 15, 2019 1:50pm

Identification: 7

It is not a matter of if, but when the next economic downturn will occur. Whether, it is next year or five years from now, if your company waits until the downturn is here, it may be too late. Now is the time for your company to prepare! This presentation will reveal how the best managed construction companies are diversifying work shoring up their business practices, leveraging technology and developing contingency plans to be prepared. 

Learning Objectives: 

  1. How to balance sources of construction work and the importance of maintaining discipline's business practices. 
  2. Why it's important to invest in technology now? 
  3. Ideas for Contingency Planning and the concept of Plus-Minus Budgeting .

Level: Intermediate

Speaker(s):

Cyber Security LandscapeCyber Security Landscape

Preview Available

Cyber Security Landscape

Nov 15, 2019 2:05pm ‐ Nov 15, 2019 2:55pm

Identification: 8

The purpose of the presentation would be to provide an overview of cyber insurance, including both 1st and third party coverages. Beyond insurance, we will also discuss the current cyber security landscape including a description of various threats. We will discuss ransomware, data breaches, business email compromises, fraudulent wire transfers and other types of threats and scams that are currently affecting computer systems in the US. We will also address how best to protect against these threats and what to do if you fall victim to one of them.

Learning Objectives:

  1. The importance of have an incident response plan in place and how to protect against various cyber threats.
  2. Identifying various cyber threats, including ransomware and business email compromises and the trends we are seeing in this area.
  3. The coverages that stand alone cyber insurance provides to an insured and how it interacts with other insurance policies like a CGL or Crime policy.

Level: Intermediate

Speaker(s):

Surety PanelSurety Panel

Preview Available

Surety Panel

Nov 15, 2019 3:10pm ‐ Nov 15, 2019 4:25pm

Identification: 9

A Surety Perspective on the Industry in 2019: A Panel Discussion with 4 of the Industry's Leading Sureties. 

Learning Objectives: 

  1. Current Trends in the Construction Industry Nationwide. 
  2. Outlook for Underwriting and performance and losses. 
  3. Contractor Financial Performance. 

Level: Intermediate

Speaker(s):
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