Construction claims: Part 2: Accounting for financial impact

Event Info

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Construction contract controls and construction audit webinar series

Most organizations eventually experience a construction claim on a project. Every project is unique and every claim is unique. Therefore, the processes and procedures required to ensure a cost effective and efficient resolution must be tailored to the situation. Join us for three brand new webinars dedicated to taking a deep dive into construction claims.

Part 2: Accounting for financial impact

This session will focus on the benefits of centralizing project correspondence once a claim is identified, generating a claim and documenting the actual costs of a claim. Presenters will review how to work with a scheduling expert to quantify the cost of any schedule extensions or project acceleration. This webinar will also review basic procedures to generate the cost of a claim, document claim costs and how to work directly with the scheduling expert in developing the delay and/or acceleration portion of the claim. Lastly, we will provide an outline of what procedures are necessary to understand, quantify the potential financial impact and generate a claim, as well as what not to include in the claim and the procedures you will need to perform when reviewing counter-claim documentation.  

Learning objectives
  • Learn how to centralize correspondence and prepare or generate a claim
  • Understand how to work with a scheduling expert to quantify any delay and/or acceleration claim
  • Learn to quantify the extent of the financial impact to the current project profit
  • Learn how to account, prepare and document the construction claim costs
  • Understand how to analyze and test a counter claim calculation

View more webinars in this series

Information about CPE eligibility

There are no prerequisites for this webinar, and advance preparation is not required. There is no cost to attend this webinar.

CPE credit: One (1) hour total credit
Field of study: Management Advisory Services (MAS)
CPE host: Helen Bradley

Please indicate on the registration form if you would like to receive eligible CPE credit for this webinar event. A certificate of completion will be e-mailed to you four to six weeks after the event.

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Baker Tilly Virchow Krause, LLP 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 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: