An Insider’s View of How a Surety Adjusts Your CPA-Prepared Financial Statement

This is episode five of our Weapons of Mass Construction instructional video series. We created this series as an easy-to-access, convenient resource featuring topics that can help your company’s bottom line, and help you stay current on key issues affecting the Construction Industry.

In this episode, Bob Teska, CPA, Partner in Charge of Construction Services, is joined by Trevor Hash Jr., Director of Surety at Haylor, Freyer & Coon, Inc.

Together, they discuss surety bonding and what a surety does to adjust a CPA-prepared financial statement before calculating what your bond program is going to be. The webinar looks at an array of topics from surety bonds, financial statements, the three-party contract and the three Cs among other topics.

Highlights from this webinar include:

1) What is a Surety Bond

  • Three-Party Contract
  • Functions of a Bond
  • Types of Bonds
  • The Three “C”s (Character, Capital, Capacity)

2) Financial Statements

3) What Does a Surety Do with Your Financial Information?

Presenters

Bob Teska, CPA, CCIFP, is a Partner-in-Charge of Construction Services at Bowers & Company CPAs. Reach him at 315-234-8157 or rmt@bcpllc.com.

Trevor Hash Jr. is the Director of Surety at Haylor, Freyer & Coon, Inc. Reach him at 315-703-1329 or thash@haylor.com.

Bowers & Company CPAs aims to offer helpful information to our clients and friends. Learn more about how we can help should your construction company need accounting and financial services.

Disclaimer: To ensure compliance with requirements imposed by the Department of Treasury, we inform you any U.S. federal tax advice contained in this document or video is not intended for the purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii) promoting, marketing, or recommending to another party any transaction or matter that is contained in this document.

Here are previous episodes of our Weapons of Mass Construction video series:

Part 1: What Do Underwriters Look for When Construction Companies Request a Bond?

Parts 2 & 3: What to Expect – The New Revenue Recognition Standard

Part 4: CPA Professionals Host Webinar on Construction Industry Updates

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Bob Teska

Bob Teska

Bob Teska, CPA, CCFIP, is Partner-in-Charge of Construction Services at Bowers & Company CPAs PLLC. Reach him at 315-234-8157 or RMT@bcpllc.com. Bowers & Company aims to offer helpful information to our clients and friends. Learn more about how we can help should your construction business need accounting services.

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