CCIFP Knowledge Domains (updated 2020)

The following is a detailed outline of the eight knowledge domains of the exam, with an indication of the approximate percentage of the construction finance exam devoted to each area:

ACCOUNTING AND REPORTING (23%)

• Accounting standards and guidelines
• Basic methods of accounting
• Receivables
• Leases
• Costs in excess and billings in excess
• Construction equipment
• Subcontractor payables
• Independent construction audit
• Financial statements
• Project management
• Gross profit analysis

REVENUE RECOGNITION METHODS (21%)

• Financial reporting
• Percentage-of-completion accounting method
• Contract revenues, change orders and claims
  
• Contract costs
• Accounting for the effects of change in estimates

BUDGETING AND PLANNING (14%)

• Strategic planning
• Strategic cost management
• Capital budgeting
• Cash management
• Benchmarking
• Succession Planning

RISK MANAGEMENT (13%)

• Risk management responsibilities
• Construction-related insurance
• Surety

TAXES (6%)

• Accounting methods unique to the construction industry
• Tax filing

HUMAN RESOURCES (7%)

• Compensation
• Employee benefit plans
• Accounting/finance department administration
• Labor and ERISA laws

LEGAL (9%)

• Preparation and review of contracts
• Subcontracts and purchase orders
  
• Applicable laws
• Warranties
• Alternatives to litigation

INFORMATION TECHNOLOGY (7%)

• Construction management platforms
  
• Evaluation, implementation, selection and integration methods
• Cybersecurity