Module 3:

Financial Accounting
Principles

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Phone: 1-800-732-9140

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Please Sign the Attendance Sheet

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Gold Coast Updates:
New Pilot Location Announcement - Tampa!
Tampa In-Person Thursday Weeknight Classes
(Pilot Program through 2024)

HYATT PLACE: TAMPA WESLEY CHAPEL

26000 Sierra Center Blvd.
Lutz, FL 33559

Class Dates: Every Thursday from 6:30pm to 9:00pm

Start Date: Thursday – September 12, 2024
Programs Supported: Business & Finance and
Contract Administration/Project Management
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 Gold Coast Updates
Upcoming Workshops & Industry Training
• Exam Prep Workshops (Saturday and Sunday from 9am to 4pm)
• Business & Finance – ENGLISH – September 14th and 15th in Doral– in-class and Zoom
• Business & Finance – SPANISH – October 12th and 13th in Doral – in class and Zoom
• Contract Administration/Project Management – ENGLISH – September 28th and 29th in Doral – in-class and Zoom
• Contract Administration/Project Management – SPANISH – November 9th and 10th in Doral – in class and
Zoom

• Plan Reading Essentials Weekend Course

(Saturday and Sunday from 9am to 5pm) – this Class is Taught in Spanish
• September 7th and 8th in Doral – in-class only - 9am – 5pm
(Saturday and Sunday from 9am to 5pm) – this Class is Taught in English
• September 7th and 8th in East Orlando – in-class only - 9am – 5pm

• Estimating & Bidding Essentials Weekend Course

(Saturday and Sunday from 9am to 5pm) – this Class is Taught in English
• November 2nd and 3rd in Tamarac – in-class and via Zoom - 9am – 5pm
 Gold Coast Updates

Upcoming Workshops – Division II

• AC Workshop – Sunday – September 29th in Tamarac – in-class and via Zoom

• Roofing Workshop – September 29th in Tamarac – in-class and via Zoom

• Plumbing Cram – Sunday – September 29th in Tamarac – in-class and via Zoom

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 Do You Need to Bring in
2023 Code Books? No…

** You can Use Either the 2020 Edition or the 2023 Edition for
Exam Purposes – Answers can be Found in Either Edition.

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Application Processing Services (APS)

Scan the QR Code

to Learn More!

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 Books & Chapters

• Contractors Manual (CM)

• Chapter 3

• Builder’s Guide to Accounting (BGA)

• Multiple Chapters

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 Books & Chapters

• Builder’s Guide to Accounting (BGA)

• Chapter 1 (brief review): Why Keep Records?
• Chapter 2: Accounting Methods
• Chapter 9: Check Writing & Recording
• Chapter 11: Payroll Accounting
• Chapter 15: Cost and Expense Reports
• Chapter 17: Petty Cash Funds

• Continue to next slide…

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 Books & Chapters

• Builder’s Guide to Accounting (BGA)

• Chapter 18: Balancing the Checking Account
• Chapter 21: Financial Statements
• Chapter 22: Using Financial Information
• Chapter 24: Putting Together a Statement
• Chapter 25: Comparative Period Statement
• Chapter 26: Restatements by Accounting Methods
• Chapter 27: Statements by Job
• Appendix

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Business & Finance Exam
Accounting Content Area

Conducting Accounting Functions:

Content Area D

Approximately 32% of Exam (35 – 40 Questions)

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Business & Finance Exam
Accounting Content Area D

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Business & Finance Exam

Everything in Module 2, Module 3, and Module 4 are

related to Bookkeeping and Accounting topics which

are relevant for the Business & Finance Exam.

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Module Practice Exam Questions

Throughout this Module, there will be a series of

Knowledge Checks that will assess your
understanding of the material.

After you complete this Module, complete the

Module 3 Practice Exam in your student account.

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Business & Finance Exam Basics

• Open Book Exam

• 120 Questions (plus 5 pilot questions)
• 6.5 Hours
• Multiple Choice
• Just Over 3 Minutes per Question
• 70% or Higher to Pass (84 or more correct)

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Business & Finance Exam Basics

Approximate BF question allocation

50% from CM
25% from BGA
25% from AIA
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Contractors Manual Index Check

Does Your Contractors Manual

have an Index?

If not, download the Index from the Gold Coast

website or email us to request a copy

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Module 3: Financial Accounting Principles
Outline
I. BGA Index Review
II. Why Keep Records? (Review from Module 2)
III. Accounting Methods: Percentage of Completion & Completed
Contract
IV. Check Writing and Recording
V. Payroll Accounting
VI. Cost & Expense Records
VII. Petty Cash & Balancing the Checking Account
VIII. Using Financial Information & Putting Together a Financial
Statement
IX. Closing & Opening the Books

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Builder’s Guide to Accounting (BGA)

Take Out Your

Builder’s Guide to Accounting
Reference Book

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Builder’s Guide to Accounting (BGA)

Let’s Review How BGA is Organized

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Table of Contents - BGA

Go to The Table of Contents:

How Many Sections in BGA?

Three Sections
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Table of Contents - BGA

Section One: Sales and Accounts Receivables

Section Two: Costs and Expenses

Section Three: Financial Statements

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Index - BGA

Does BGA Have an Index?

YES!
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Index - BGA

BGA is an Accounting Book

CM has One Chapter on Accounting (Ch. 3)

You Have More Keyword Options in BGA!

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Index - BGA

How do You Know Which Book to

Reference on the Exam?

BGA? or CM: Chapter 3?

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Index - BGA

The Short Answer:

You May have to Look in

Both Reference Books!

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Index - BGA

That is Why it is CRITICAL to

Practice Navigating the Indexes
for Both the CM and BGA.

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Index - BGA

Let’s Go to the Index at the

Back of BGA

These are Some Important

Keyword Topics for Module 3

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BGA Index Keywords of Note

Accounting
System

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BGA Index Keywords of Note

Accounts
Receivable;
Records

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BGA Index Keywords of Note

Accruals

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BGA Index Keywords of Note

Amortization

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BGA Index Keywords of Note

Bank
Reconciliation

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BGA Index Keywords of Note

Bookkeeping

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BGA Index Keywords of Note

Breakeven
Point

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BGA Index
Keywords of Note

All Things
‘Cash’

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BGA Index Keywords of Note

Check Register
Checkbook
Checking Account

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BGA Index Keywords of Note

Closing Adjustments
&
Closing the Books

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BGA Index Keywords of Note

Completed-Contract
Accounting

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BGA Index Keywords of Note

Cost
Accounting
And Related

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BGA Index Keywords of Note

Deferred
and Related

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BGA Index Keywords of Note

Depreciation
&
Declining Balance

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BGA Index Keywords of Note

Double-entry
Bookkeeping

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BGA Index Keywords of Note

Estimating

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BGA Index Keywords of Note

Forms -
Accounting

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BGA Index Keywords of Note

Forms - Tax

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BGA Index Keywords of Note

General
Ledger

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BGA Index Keywords of Note

Income
Taxes

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BGA Index Keywords of Note

Job
Records

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BGA Index Keywords of Note

MACRS

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BGA Index Keywords of Note

Methods of
Accounting

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BGA Index Keywords of Note

Payroll
Accounting

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BGA Index Keywords of Note

Percentage-of-
Completion
&
Prepaid Expense
Accruals

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BGA Index Keywords of Note

Ratios

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BGA Index Keywords of Note

Reconciliation of
Checking Account
&
Records, Financial

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Builder’s Guide to Accounting Review

• We will Cover all Important Sections of BGA

Within Modules 2, 3, and 4

• Some of the content in Module 3 will be a review

of content from Module 2

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BGA - Section One: Sales & Accounts Receivable

Chapter 1:
Why Keep Records?

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BGA – Chapter 1: Why Keep Records

What is the goal of a well-designed

bookkeeping system?

Reducing your costs while achieving maximum

efficiency. (Pg 8)

Contractor@[Link]
BGA – Chapter 1: Why Keep Records

What Records Do You Need?

See Pages 8 thru 12

Contractor@[Link]
BGA – Chapter 1: Why Keep Records

• Sales (Income from Operations) • Cash on Hand (Petty Cash)

• Receivables (Who owes you money) • Equipment (Hourly Cost)
• Checks • Overhead Expenses (Necessary)
• Payroll • Estimating & Job
• Bank Accounts (Balance Monthly) • Accruals
• Chart of Accounts

Contractor@[Link]
BGA – Chapter 1: Why Keep Records

What is the most common modern

bookkeeping method called?

Double-Entry Bookkeeping (Pg 15)

Contractor@[Link]
BGA – Chapter 1:
Why Keep Records? – Pg. 16 - 17

BGA also defines:

Balance Sheet
Accounting Equation: Assets = Liabilities + Net Worth
Income Statement
Statement of Cash Flows

Contractor@[Link]
BGA – Chapter 1:
Why Keep Records? – Pg. 17 - 19

Make sure to review your Tabbing and

Highlighting Guide for BGA: Chapter 1

Try the Test Questions at the end of Chapter 1 for

practice. The Answer Key can be found at the
end of the book just before the Index (Page 347).

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

Let’s Take Out the

Builder’s Guide to Accounting

Chapter 2: Accounting Methods

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

See Page 23: The way you treat sales (and

‘recognize’ the income they generate) is the
foundation of any accounting system you adopt.

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

The decision about when to ________ income

creates problems both for the builder and the
accountant.

Book (Pg. 23) – this is the same as ‘recognize’

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

See Page 23: Your contracts take anywhere from one

day to several months – or even years – to complete.

How much did you ACTUALLY earn in a given period?

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

See Page 23: There is no correct answer until

you specify the accounting method you used
to recognize income.

Contractor@[Link]
Quick Contractors Manual Reference

Go to Contractors Manual – Page 3-104:

Four basic revenue recognition methods available to Contractors:

• Cash Method – Income is recognized as cash is ACTUALLY received.

• Accrual Basis – Income includes all amounts the contactor is ENTITLED to receive when
the amount can be determined and all events have occurred to fix the right to receive the
income.
• Percentage of Completion – Income is recognized proportionally as work is completed.
• Completed Contract Method – Income is NOT recognized until the job is COMPLETED.

Contractor@[Link]
Quick Contractors Manual Reference

Go to Contractors Manual – Page 3-36:

Accrued Expenses:
• Expenses incurred but not yet paid

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Quick Contractors Manual Reference

Go to Contractors Manual – Page 3-36:

Accrued Revenues:
• Revenue earned but not yet received

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Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

OK – Back to BGA – Page 23!

We will focus on the last two methods:

• Percentage-of-Completion Method
• Completed-Contract Method

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

To understand these revenue recognition

methods, we must have a basic understanding
of the concept of ‘Accruals’.

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

See Page 11 (Chapter 1): Accruals

• The accrual system is by far the most accurate,

because it shows what’s really happening in your
operation in terms of profit and loss.

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

See Page 11 (Chapter 1): Accruals

• Bills you have sent out are revenue/income earned:

• even before the cash comes in.
• The bills you owe are direct or operating costs:
• even before your mailing the checks.

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

See Page 11 (Chapter 1): Accruals

• The true and complete picture of your operation has to

include adjusting entries.

• These are called “Accruals”.

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

See Page 23: Percentage-of-Completion Method

Contractors sometimes receive payments for work not yet performed, or

only partially completed. The portion of income ABOVE the degree of
completion is said to be _____________.

Unearned (Pg. 23)

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

See Page 23: Percentage-of-Completion Method

• The income is NOT earned and should not be recorded (booked /

recognized) as income until the work is finished.

• When you receive cash for work that’s only partially complete,
you must separate out the unearned part of income and assign it
to a special account.

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

See Page 23: Percentage-of-Completion Method

• This is known as percentage-of-completion

accounting because you recognize (book / record) as
income ONLY that portion of money received or
charges billed for work that’s completed.

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods
See the Example at the Bottom of Page 23: Percentage-of-Completion Method

• Suppose you receive a $6,000 payment, or half the contract price (contract
price at $12,000). You know the job is only 40% complete. The entry would
be broken down as follows:

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Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

What is another name for unearned income?

Deferred Income (Pg. 24)

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Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods
See the Example at the Middle of Page 24: Percentage-of-Completion Method

• You estimate a job to be 40% complete. You’ve billed out or been paid LESS than
40 percent – in this example $4,320. The difference has to be taken into account
or ACCRUED. This is money that has been EARNED but not yet collected:

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

In this example, the $4,320 of income received is EARNED

Income… the $480 is the additional income you have earned, but
not yet received. That is why is it classified as ACCRUED Income.

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

See Page 24: Percentage-of-Completion Method

• Under percentage-of-completion accounting, your

books reflect the effect of receiving payment either
before or after it is EARNED.

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

See Page 24: Percentage-of-Completion Method

• Retainage: Amount withheld from the Contractor

payment – typically a percentage.

• Guarantee against unforeseen problems.

• Incentive for timely completion.

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

Since Retainage is earned, but not yet

received, it is considered what type of income?

Accrued Income

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Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

See Page 24: Percentage-of-Completion Method

• Note Advantages and Disadvantages of Percentage-of-Completion

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

See Page 25: Percentage-of-Completion Method

• Find the current percentage of completion by adding the

total costs to date to the estimated costs to complete
and divide that total into the costs to date.

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

Use your BGA as a Cheat Sheet! Here are the formulas in the book
PLUS one that is not in the book:

CTD = Cost to Date

CTC = Costs of Completion
TC = Total Cost = CTD + CTC
Percentage of Completion (POC) = CTD / TC
Earned Income = POC x Contract Value (CV) : formula not in BGA

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

Remember:
• Use the Total Cost (TC) to calculate Percentage
of Completion (POC)
• Use the Contract Value (CV) to calculate the
Earned Income
• DO NOT use the CV to calculate the POC

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

See Page 25: Completed-Contract Method

• Advantage: Exactness
• The job must be 100% finished to recognize any income
• This method is almost always used for small jobs
• Can ONLY be used:
• When completing jobs within 2 years
• Gross annual receipts are under $10 million

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

See Page 25: Completed-Contract Method

• Disadvantages:
• Not recognizing very real income
• Can’t produce periodic financial statements
• Does not provide reliable data

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

Recap:
• Accrued Income: Earned but not yet received.
• This is an ASSET on the Balance Sheet (Page 26)

• Deferred Income: Paid but not yet earned.

• This is a LIABILITY on the Balance Sheet (Page 26)
• You still ‘Owe’ the Customer the work they paid for but you have
not yet completed.

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

What is Earned Income?

The amount of revenue you have EARNED or

ACCRUED on a project based upon the
percentage of completion. (Pg. 26 discusses
Earned Income and associated accounts)
Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods - Page 26

Contractor@[Link]
Builder’s Guide to
Accounting (BGA)
Chapter 2:
Accounting Methods
Page 32

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 2: Accounting Methods

Make sure to review your Tabbing and

Highlighting Guide for BGA: Chapter 2

Try the Test Questions at the end of Chapter 2 for

practice. The Answer Key can be found at the end
of the book just before the Index (Page 347).

Contractor@[Link]
Contractors Manual (CM)
Chapter 3

Let’s Take Out the

Contractors Manual
Reference Book: Chapter 3

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Contractors Manual (CM)
Index Review

Go to the CM Index!

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Contractors Manual (CM)
Index Review

Accounting

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Contractors Manual (CM)
Index Review

There are
Multiple
Specific
Keywords
Under the
General
Accounting
Keyword

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Contractors Manual (CM)
Index Review

Depreciation

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Contractors Manual (CM)
Index Review

Forms

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Contractors Manual (CM)
Index Review

Percentage of
Completion

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Contractors Manual (CM)
Index Review

Reemployment
(SUTA)
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Contractors Manual (CM)
Index Review

Taxes

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Contractors Manual (CM)
Index Review

Unemployment
(SUTA)

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Contractors Manual: Accounting Methods
Chapter 3 – Pages 3-79 thru 3-83

Let’s Go to the
Contractors Manual
Reference Book: Chapter 3

Contractor@[Link]
Contractors Manual: Accounting Methods
Chapter 3 – Pages 3-79 thru 3-83

• Review Pages 3-79 thru 3-83 for a recap of Percentage-

of-Completion and Completed-Contract Methods.

Contractor@[Link]
Contractors Manual: Accounting Methods
Chapter 3 – Pages 3-79 thru 3-83

The information between the CM and BGA

related to this topic is similar, but there are some
minor differences:

• See Page 3-79 – definition of The Percentage of

Completion Method.
• Required for companies with $10 million or more in
annual sales.

Contractor@[Link]
Contractors Manual: Accounting Methods
Chapter 3 – Pages 3-79 thru 3-83

The information between the CM and BGA related

to this topic is similar, but there are some minor
differences:

• In CM, the percentage of completion method formula is

shown on Page 3-80.

Contractor@[Link]
Contractors Manual: Accounting Methods
Chapter 3 – Pages 3-79 thru 3-83

Contractor@[Link]
Contractors Manual: Accounting Methods
Chapter 3 – Pages 3-79 thru 3-83

The information between the CM and BGA related to this

topic is similar, but there are some minor differences:

• See Page 3-81: CM refers to Accrued Income as Costs in

Excess of Billings (Current Asset).
• CM refers to Unearned or Deferred Income as Billings in
Excess of Costs (Current Liability).

Contractor@[Link]
Contractors Manual: Accounting Methods
Chapter 3 – Page 3-81

This is an example of
Underbilling – Accrued Income

Contractor@[Link]
Contractors Manual: Accounting Methods
Chapter 3 – Page 3-81

This is an example of
Overbilling – Unearned Income

Contractor@[Link]
Contractors Manual: Accounting Methods
Chapter 3 – Pages 3-79 thru 3-83

The information between the CM and BGA related to this

topic is similar, but there are some minor differences:

• In CM, Retainage is discussed on Page 3-83.

• The most common Retainage is 10% with a reduction to 5%
once the project is half-way completed.

Contractor@[Link]
Accounting Methods – Practice Problems

Cost to Date = $250,000

Cost to Complete = $750,000
Contract Value = $1,200,000

What is the Percentage of Completion?

POC = CTD / TC = $250,000 / ($250,000 + $750,000) = 25% Complete

** You DO NOT need the CV to calculate the POC

Contractor@[Link]
Accounting Methods – Practice Problems

Cost to Date = $250,000

Cost to Complete = $750,000
Contract Value = $1,200,000

What is the Earned Income?

Earned Income = Percentage of Completion x Contract Value = 25% x $1,200,000

EI = $300,000

Contractor@[Link]
Accounting Methods – Practice Problems

Cost to Date = $250,000

Cost to Complete = $750,000
Contract Value = $1,200,000
Billings = $400,000

Assuming Billings above, did the Contractor overbill or underbill

and what is the difference called?
To calculate Accrued or Unearned Income, compare the Billings to the Earned Income
Billings = $400,000 and EI = $300,000
$400,000 - $300,000 = $100,000 OVERBILLED – Unearned (Deferred) Income

Contractor@[Link]
BGA - Section Two: Costs and Expenses

Chapter 9:
Check Writing & Recording

Contractor@[Link]
BGA – Chapter 9:
Check Writing & Recording – Pg. 97 – 112

Why is following good check writing and

recording procedures important?

Helps control your costs and expenses

effectively (Pg 97)

Contractor@[Link]
BGA – Chapter 9:
Check Writing & Recording – Pg. 97 – 112

See Page 98: Note Bullets for benefits of writing out

complete names and descriptions for each check and
carry a balance of payments by account:

• Support summary entries recorded elsewhere

• Aid you in balancing your bank account
• Give you detail needed for adjustments
• Provide records for analysis

Contractor@[Link]
BGA – Chapter 9:
Check Writing & Recording – Pg. 97 – 112

The check stub and the canceled

checks are supported by what type of
documents?

Source Documents (Pg 98)

Contractor@[Link]
BGA – Chapter 9:
Check Writing & Recording – Pg. 97 – 112

See Page 99: Note List of Basic Information

to record When Writing a Check:

• Check number
• Date
• Who was paid
• What the payment was for
• Amount

Contractor@[Link]
BGA – Chapter 9:
Check Writing & Recording – Pg. 97 – 112

See Pages 99 – 100: Note List of Adjustments You can

Expect to Make When You Balance Your Account:

• Bank service charges

• Returned checks
• Special charges
• Automatic payments
• Overdraft charges
• Error Adjustments
• Non-bank adjustments
• Voiding checks

Contractor@[Link]
BGA – Chapter 9:
Check Writing & Recording – Pg. 97 – 112

The check register shows at a glance

what _________ categories you have and
where your _________ goes.

Expense; Money (Pg 101)

Contractor@[Link]
BGA – Chapter 9:
Check Writing & Recording – Pg. 97 – 112

How often should you prepare

the check register?

At least once a month (Pg 101)

Contractor@[Link]
BGA – Chapter 9:
Check Writing & Recording – Pg. 97 – 112

What is one major function of a

check register?

It identifies math errors (Pg 103)

Contractor@[Link]
BGA – Chapter 9:
Check Writing & Recording – Pg. 97 – 112

See Page 103: For check registers, the total

column is checked by adding distribution totals
across the page. This is called ___________.

Crossfooting (Pg 103)

Contractor@[Link]
BGA – Chapter 9:
Check Writing & Recording – Pg. 97 – 112

Business deductions for checks made to

_______ are questionable and harder to
prove…?

Cash (Pg 103)

Contractor@[Link]
BGA – Chapter 9:
Check Writing & Recording – Pg. 97 – 112

Make sure to review your Tabbing and

Highlighting Guide for BGA: Chapter 9

Try the Test Questions at the end of Chapter 9 for

practice. The Answer Key can be found at the end
of the book just before the Index (Page 348).

Contractor@[Link]
BGA - Section Two: Costs and Expenses

Chapter 11:
Payroll Accounting

Contractor@[Link]
BGA – Chapter 11:
Payroll Accounting – Pg. 125 – 138

What is the largest and most

variable cost in building?

Labor (Pg 125)

Contractor@[Link]
BGA – Chapter 11:
Payroll Accounting – Pg. 125 – 138

See Page 125: Note list of payroll records you need to keep:

• Detailed earnings
• Summaries of payroll data
• Payroll accounting information for your general ledger
• Labor costs broken down by job types or phases

Contractor@[Link]
BGA – Chapter 11:
Payroll Accounting – Pg. 125 – 138

See Page 126: Note the Four Ways to Keep

Separate Payroll Records:

• This is generally outdated information with

computerized software systems and online
banking, but for exam purposes, just make
sure you are aware of this section.

Contractor@[Link]
BGA – Chapter 11:
Payroll Accounting – Pg. 125 – 138

See Pages 137 and 138: Note the Various Payroll Forms:

• W-4: Withholding Allowance Certificate

• Social Security, Medicare, Federal Income Taxes
• W-2: Wage and Tax Statement
• Copies A – D and 1 – 2
• Form 941: Quarterly Federal Tax Return
• Form 940: Annual Report for Unemployment Taxes (FUTA)
• Form 508: Used to deposit federal unemployment taxes with local banks

Contractor@[Link]
BGA – Chapter 11:
Payroll Accounting – Pg. 125 – 138

Make sure to review your Tabbing and

Highlighting Guide for BGA: Chapter 11

Try the Test Questions at the end of Chapter 11

for practice. The Answer Key can be found at the
end of the book just before the Index (Page 348).

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

Payroll Accounting – See Page 3-48

Payroll Preparation Includes the Following:

• Determining each employee’s gross earnings for a pay period.

• Determining each employee’s deductions.
• Calculating the employer’s associated expenses.
• Updating the employee payroll records.
• Creating the journal entries (Module 2)
• Remitting funds to the relevant governmental authority or other applicable
State and/or Federal agencies.

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

See Page 3-48: Required Forms (Same as in BGA):

• Form 941 – Employer’s Quarterly Federal Tax Return

• Form 940 – FUTA (Federal Unemployment Tax Act)
• W-2 (Wage and Tax Statement)

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

See Page 3-49: Gross Earnings: The most common components of

gross earnings include:

• Regular Pay
• Overtime Salary
• Salary
• Tips
• Commissions
• Taxable Benefits
• Vacation Pay

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

Regular Pay (3-49)

• Regular pay for the hourly paid employees is determined by

multiplying the employee’s hourly rate of pay by the number of
regular hours worked by the employee during the pay period.

Contractor@[Link]
Payroll Practice Problem

If an employee worked 40 regular hours in a

week at $15 / hour, what is their Regular Pay?

40 hours x $15 = $600 Regular Pay

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

Overtime Pay (3-49)

• The employee’s overtime rate of pay is determined by multiplying the

employee’s overtime rate of pay by the number of overtime hours
worked during the pay period.
• The overtime rate is usually 1.5 times the regular hourly rate.

Contractor@[Link]
Payroll Practice Problem

What is an employee’s Overtime Pay if they work 15 hours of

Overtime at a Regular Rate of $10 / hour?

Overtime Rate = $10 / hour x 1.5 = $15 / hour

Overtime Pay = $15 / hour x 15 Overtime Hours = $225

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

Salary (3-49)

• Is the fixed amount paid to the employee for the pay

period in question.

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

Tips (3-50)

• Tips are a performance-related amount paid to the

employer by his third-party customers during the pay period
in question (not common in the construction industry).

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

Commissions (3-50)

• Commission is a performance-based amounts paid by the

employer to the employee for the specified pay period.

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

Taxable Benefits (3-50)

• A non-cash taxable benefit.

• An example of this is a company vehicle provided
for personal use.

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

Vacation Pay (3-51)

• This is pay provided during company-approved

time off – i.e. vacation pay.

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

See Table 55 on Page 3-51: Payroll Record Example

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)
See Page 3-51 – Table 56: Determining an Employee's Deductions

• FIT: Federal Income Tax (Withholding)

• Social Security Tax (OASDI)
• Medicare Tax (HI)
• SDI
• Local
• Union Dues: In union environments
• Medical & Dental: Hospitalization and Dental

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

FIT to be Deducted Varies Based on the Following (3-52):

• Gross Earnings
• Number of Pay Periods
• Employee’s Marital Status
• Number of Federal Withholding Allowances Claimed

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

Normally, you would calculate the FIT Withholding

amount using the Circular E Wage Bracket Tables.

BUT……

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

As of Right Now, the State is NOT Asking Exam Questions from Circular E!

There were printing issues with the various editions of the 2021 Contractors
Manual – some had the Circular E, some did not… some had the wrong
version of the Circular E! It is a MESS!

So, we will not review Circular E or FIT calculations at this time… but make
sure you know where to find information about payroll taxes in other
sections of CM Chapter 3 and in the BGA.

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

The following is a sample of what a wage

calculation question could look like on the
State exam (see Page 3-52 – Table 57).

Contractor@[Link]
Payroll Practice Problem

Problem 1: Assuming gross earnings of $1,115.00 with 2

Allowances at $134.62 each. Calculate the Gross Earnings
subject to FIT. (You do not need Circular E to solve this problem)

$1,115.00 - $269.24 (2 x $134.62) = $845.76 Gross Earnings

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

See Page 3-53: Social Security Tax and Medicare Tax

• Social Security Tax Rate is 6.2% with a $118,500 wage base,

and Medicare Tax Rate is 1.45% with an unlimited wage base.
• Total of 7.65% of gross earnings
• These two are often collectively referred to as FICA (Federal
Insurance Contributions Act)

Contractor@[Link]
Payroll Practice Problem

Problem 2: Assume your employee has earned $1,115 in this

pay period and not earned more than $118,500 for the year.
Calculate the Social Security and Medicare Taxes to be
deducted.

SS Tax = $1,115 x 6.2% (0.062) = $69.13

Medicare Tax = $1,115 x 1.45% (0.0145) = $16.17 (round up)
Total FICA = $69.13 + $16.17 = $85.30

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

The employer must calculate the following taxes based on their

employee's payroll:

• Social Security and Medicare Tax (FICA)

• FUTA (Federal Unemployment Tax Act)
• SUTA (State Unemployment Tax Act) – Now Called
Reemployment Tax – See Page 5-275 in CM
• The last two taxes are strictly employer’s taxes, and it is
against the law to make the employees pay for them.

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)
Social Security & Medicare Taxes: The employer must pay an
amount equal to each employee’s social security tax and Medicare
tax deductions.

FUTA: Tax is based on the employee wages, maximum gross annual

earnings of $7,000. At the present time, the rate is 6.0% with a
maximum State credit (SUTA) of 5.4%.

• The State credit refers to the fact that your FUTA tax rate can
be reduced to 0.60% if you contribute the maximum allowed
percentage to the Florida SUTA.

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

Even though the Circular E is currently not being included

in the exam, you should still know the FUTA rate. The
following is a summary from the 2023 Circular E.

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

SUTA (State Unemployment Tax Act): Employers are assigned a

SUTA percentage rate by the state’s Department of Revenue.
These rates can vary from employer to employer and is based on
unemployment claims experience.

• Rates from 2.7% to 5.4%

• Wage base is first $7,000
• See Page 5-275 in CM for the full SUTA document (now called
Reemployment Tax)

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

• You will see several questions from the Reemployment Tax

section of the Contractors Manual!

• Reemployment Tax is covered in more detail in Module 6.

• Make sure to review your tabbing and highlighting guide for

this section of Chapter 5 (5-275 thru 5-304).

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-47 thru 3-58)

• The maximum percentage rate for the discount towards

the FUTA tax is capped at 5.4%.

• This would leave the Federal Unemployment Tax liability

at 0.6% (Expressed as 0.006 in decimal form).

Contractor@[Link]
Payroll Practice Problem

Problem 4: Assuming the maximum State credit, what is the total

FUTA due on the first $7,000 in gross wages?

FUTA Tax Rate = 6.0%

Reemployment Tax (SUTA) Maximum Credit = 5.4%
FUTA Tax Due = 6.0% - 5.4% = 0.60%
Total FUTA Tax Due = $7,000 x 0.60% = $42.00

Contractor@[Link]
Payroll Practice Problem

Problem 5: What SUTA tax does the

employee have to pay on the first $2,500 of
gross wages?

NONE!! Employees are NOT responsible for

paying SUTA or FUTA
Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-95 thru 3-101)

Got to Contractors Manual

Chapter 3: Page 3-95

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-95 thru 3-101)

These are just some additional things to note in

Contractors Manual:
• Page 3-95 – Employee Information – Note Items 1-12
• Page 3-96 thru 3-97 – Payroll Tax requirements – Note Items 1-7
• Page 3-97 – Miscellaneous Tax Issues
• Highlight: “By April 1st of each year, businesses in Florida are
required to file a tangible personal property tax return with each
Florida county in which they had tangible personal property on
January 1st of that year.”

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-95 thru 3-101)

These are just some additional things to note in

Contractors Manual:

• Pages 3-98 thru 3-99 – Services Provided by CPA’s:

• Audit (highest level)
• Reviewed
• Compiled
• Footnotes

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-105 thru 3-112)

Note the Glossary starting

on Page 3-105 and
Definitions on Page 3-112

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-113)

Note Davis-Bacon Labor

Standards Starts on Page
3-113: The Table of
Contents for Davis-Bacon
starts on Page 3-117
Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-29 thru 3-33)

Go to Contractors Manual

Chapter 3: Page 3-29

• These are various additional items to review

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-29 thru 3-33)

Top of Page 3-29 – Highlight definition of

‘Trial Balance’.

We will discuss more about Trial Balance

Later in the Module.

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-29 thru 3-33)

Page 3-29 – The Balance Sheet:

• Assets
• Current – Less than 1 year to convert to cash
• Accounts receivable
• Fixed – Greater than 1 year to convert to cash
• Building or Land

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-29 thru 3-33)

Page 3-29 – The Balance Sheet:

• Liabilities
• Current – Less than 1 year to pay
• Accounts payable
• Long-Term – Greater than 1 year to pay
• Mortgage

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-29 thru 3-33)

Page 3-30 – The Balance Sheet:

• Equity
• Note Table 3-25
• Sample Balance Sheet with Accounts Listed for Reference

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-29 thru 3-33)

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-29 thru 3-33)

Pages 3-30 and 3-31 – The Income Statement:

• Revenues
• Expenses
• Operating Expenses
• Expenses the company would no longer incur if operations
stopped.
• Administrative Expenses
• These expenses would still be incurred if operations
stopped.

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-29 thru 3-33)

Page 3-31 – Income:

• Income can be called:
• Net Income
• Profit
• Net Profit
• Note Table 3-26 – Sample Income Statement

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-29 thru 3-33)

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-29 thru 3-33)

According to Table 3-26, what is the

Net Income for National Construction
on January 31, 2008?

$52,100 (Table 3-26)

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-29 thru 3-33)

Pages 3-31 thru 3-32 – Adjusting Entries:

• Highlight Definitions:
• Accounting Period
• Adjusting Entries
• Adjusted Trial Balance

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-29 thru 3-33)
Page 3-32 – Prepaid Expenses:

• Prepaid expenses are assets that have been paid for but
which will become expenses over time.
• Insurance is a good example. An insurance policy is an asset.
It is paid for in advance, will last for a period of time, and
expires on a fixed date.
• You buy insurance to cover you for the whole year, so you
should allocate its cost evenly over the year.
• Note Tables 3-27 and 3-28: Journal Entries for Prepaid
Expense Transactions
Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-29 thru 3-33)

Pages 3-32 thru 3-33 – Use of Supplies:

• Note Table 3-29: Journal Entry for Supplies

Transaction

Contractor@[Link]
Contractors Manual (CM)
Chapter 3 (3-29 thru 3-33)

Page 3-33 – Bad Debts:

• Note Table 3-30: Journal Entry for Allowance for

Doubtful Accounts

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 15: Cost and Expense Records

Let’s Take Out the

Builder’s Guide to Accounting

Chapter 15: Cost and Expense Records

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 15: Cost and Expense Records

• Page 188 – Objectives of the Cost

System

• Note bullets

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 15: Cost and Expense Records

• Pages 188 thru 190 – Scheduling Costs

and Expenses
• Performance Standards
• Note Figure 15-3 (Page 190)
• Labor Performance Standards Table
• Understand How to Interpret this Table

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 17: Petty Cash Funds

Builder’s Guide to Accounting

Chapter 17: Petty Cash Funds

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 17: Petty Cash Funds

• Page 208 – The Imprest System

• Note advantages
• Note Journal Entry Transaction Samples
• Most operations need to keep at least $50 in petty
cash (Page 208 – right column)

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 17: Petty Cash Funds

• Page 209 – Controlling Petty Cash

• Note 4 Purposes
• Note Journal Entry Transaction Samples

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 18: Balancing the Checking Account

Builder’s Guide to Accounting

Chapter 18: Balancing the Checking Account

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 18: Balancing the Checking Account

• Pages 213 thru 214 – The Ten Steps to

Accurate Reconciliations

• Note Items 1-10

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 18: Balancing the Checking Account

• Page 215 – Note Figures 18-1 and 18-2

• Use these Tables for Checkbook or Bank Account

Reconciliation Questions
• There are Practice Quiz Questions on Reconciliation –
Don’t Spend Too Much Time on this Topic

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 18: Balancing the Checking Account

• Pages 218 thru 219 – A Checklist for

Balancing Your Account

• Note bullets

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 22: Using Financial Information

Builder’s Guide to Accounting

Chapter 22: Using Financial Information

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 22: Using Financial Information

• Page 259 – Highlight bullets on factors

contributing to absorbing profits

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 22: Using Financial Information

• Pages 260 thru 261 – Apply Financial

Information
• Setting Standards
• Note Items 1-4
• Enforcing Standards
• Note Bullets

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 24: Putting Together a Statement

Builder’s Guide to Accounting

Chapter 24: Putting Together a Statement

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 24: Putting Together a Statement

• At the end of each fiscal and calendar year, you must:

• Verify that all the information in your books is correct by creating a

trial balance
• Make any adjustments to the trial balance (adjusted trial balance)
• Create the financial statements.

• This process is called Closing and Opening the Books.

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 24: Putting Together a Statement

The most common headache for builders and

their bookkeepers is __________ accounts properly.

Coding (Pg. 277)

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 24: Putting Together a Statement

The _________ ledger is nothing more than a

summary of your business activities.

General (Pg. 278)

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 24: Putting Together a Statement

See Page 278: Note the bullets for points to

consider when making entries into the general
ledger.

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 24: Putting Together a Statement

What main categories are included in the

general ledger?

Assets; Liabilities; Net Worth; Income;

Direct Costs; General Expenses (Pg. 278)

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 24: Putting Together a Statement

Module 2 discusses the General Ledger

and Chart of Accounts in More Detail.

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 24: Putting Together a Statement

What are some common posting errors?

Transposition; Decimal Misplacement;

Debit / Credit Error; Simple Math Error (Pg. 281)

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 24: Putting Together a Statement

The next step after posting to the general

ledger is what?

The Trial Balance (Pg. 281)

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 24: Putting Together a Statement

The purpose of the Trial Balance is to verify

that all debits and credits in the general
ledger equal what?

Zero (Pg. 281)

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 24: Putting Together a Statement

Account balances must be _________ when you

prepare the financial statements.

Adjusted (Pg. 281)

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 24: Putting Together a Statement

See Pages 281 and 282: Typical trial balance

adjustments could include:

• Inventory
• Depreciation
• Accounts Payable
• Other Accounts

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 24: Putting Together a Statement

See Page 282:

Figure 24-4
Trial Balance &
Closing
Adjustments

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 24: Putting Together a Statement

The books are ________ at the end of each year.

This means that the final adjustments are made to
update all accounts and then recorded in the
general ledger.

Closed (Pg. 284)

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 24: Putting Together a Statement

Make sure to review your Tabbing and

Highlighting Guide for BGA: Chapter 24

Try the Test Questions at the end of Chapter 24

for practice. The Answer Key can be found at the
end of the book just before the Index (Page 349).

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 25: Comparative Period Statements

Builder’s Guide to Accounting

Chapter 25: Comparative Period Statements

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapter 25: Comparative Period Statements

• Use this Chapter for Sample

Comparative Financial Statements
• Note Figure 25-1 (Page 290 – Balance Sheet)
• Note Figure 25-2 (Page 291 – Income Statement)

Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Chapters 26 and 27

Builder’s Guide to Accounting

Chapter 26: Restatements by Accounting Methods

Chapter 27: Statements by Job

• These are not commonly tested chapters, but just be

aware they exist. Information from these chapters will be
searchable through the Index.
Contractor@[Link]
Builder’s Guide to Accounting (BGA)
Appendix
Builder’s Guide to Accounting

Appendix A: The Chart of Accounts

Appendix B: Complete Financial Statements
Appendix C: Expanding & Automating the Accounting System
Appendix D: Income Tax Planning

• Do not forget the Appendix! Great sample financial statements here.

• Highlight definition of ‘Shifting’ on Page 344 (left column).

Contractor@[Link]
Closing and Opening the Books
General Definitions Overview - CM

Bid Shopping (See CM – Page 3-105): A term used to describe a

practice by which contractors, both before and after their bids are
submitted, attempt to obtain from potential subcontractors and
material suppliers lower prices than those in the contractors'
original estimates on which their bids are based or, after a contract
is awarded, seek to induce subcontractors to reduce the
subcontractor price included in the bid.

Contractor@[Link]
Closing and Opening the Books
General Definitions Overview - CM

Closing the Books (See CM – Page 3-106): The process of posting

closing entries to clear the revenue and expense accounts and to
transfer the net income to the Retained Earnings account at the
end of an accounting year. It is done to ensure that the books are
ready to record the next year's transactions.

Contractor@[Link]
Closing and Opening the Books
General Definitions Overview - CM

Front End Loading (See CM – Page 3-108): A procedure under

which progress billings are accelerated in relation to costs
incurred by assigning higher values to contract portions to be
completed in the early stages of a contract than to those
portions to be completed in the later stages so that cash
receipts from the project during the early stages will be higher
than they otherwise would be.

Contractor@[Link]
Closing and Opening the Books
General Definitions Overview - CM

Opening the Books (See CM – Page 3-109): The process of

setting up a new set of books with the correct balance sheet
account balances, and zero balances in the revenue and expense
accounts. When this is done, the new books are ready to record
the upcoming accounting year's transactions.

Contractor@[Link]
Closing and Opening the Books
General Definitions Overview - CM

Trial Balance (See CM - Page 3-110): A list of all the debit and credit
balances of all the accounts in the general ledger. Use it to ensure
that there have been no posting or adding mistakes, and that the
total debits equal the total credits.

Contractor@[Link]
Contractors Manual: Closing and Opening the Books
Chapter 3 – Pages 3-40 thru 3-42

Let’s Review
Contractors Manual
Reference Book: Chapter 3

Contractor@[Link]
Contractors Manual: Closing and Opening the Books
Chapter 3 – Pages 3-40 thru 3-42

• There is a small section on the topic of Closing and Opening

the Books in Contractors Manual.

• See Pages 3-40 thru 3-42

• This is very similar content to what is included in BGA… just be

aware each books covers this topic.

Contractor@[Link]
Module 3 Conclusion

Thank you all for attending

today’s class! Great job and you
are one step closer to passing the
Business & Finance exam!
Contractor@[Link]
Module 3 Conclusion

What is the next step?

Complete the Practice Questions at the end

of each BGA Chapter covered in Module 3
and the Module 3 Practice Quiz.
Contractor@[Link]
Student Resources

Have Questions?

• Please Join Our Zoom Student Orientation Every Monday

from 5:00pm to 6:30pm
• Virtual Office Hours: Every Wednesday from 11am to 1pm
• Email us at Contractor@[Link]

Contractor@[Link]
Thank Scan the QR Code to
Complete a Quick Survey

You For
Attending!
Let Us Know How We Did…
Gold Coast School of Construction:
Contractor@[Link]
(800) 732-9140

Contractor@[Link]