Storm clouds

How do you account for the remediation expenses of a project under construction after a natural disaster? The primary objective is to accurately account for all your remediation costs, without co-mingling the incomplete base contract, to maximize the insurance reimbursement. This webinar reviewed the processes and systems required to account for the insurance claim, document the insurance claim, and present your claim to the insurance company for reimbursement. 

Learning objectives

  • Prepare for the claim and document work in place
  • Quantify the extent of the damage
  • Determine what system or method of accounting to utilize for the remediation costs
  • Negotiate and document the remediation scope of work
  • Account for, prepare and document the remediation costs
  • Present remediation costs to the insurance carrier for reimbursement

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For more information on this topic, or to learn how Baker Tilly specialists can help, contact our team.

ASC 606 transition – Recognizing revenue
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ASC 606 transition – Recognizing revenue