Real Estate Accounting ON DEMAND

Overview

The real estate professional needs to be aware of the accounting rules for real estate, in order to avoid adverse reporting outcomes. This course covers the accounting rules for every type of real estate transaction, which can be used to structure real estate deals appropriately. The class covers accounting for real estate sales, property exchanges, and time-share intervals. Our course also reveals the related financial statement presentations and accompanying disclosures. In addition, the real estate taxation course describes accounting related to property rental, and investments in real estate ventures. Use this real estate accounting guide as your go-to reference for discerning the proper accounting treatment for a real estate transaction.

Highlights

Introduction to accounting. Initial real estate costs. Purchase of income-producing property. Real estate sales. Nonmonetary exchanges. Time-sharing activities. Rent topics. Property management. Asset retirement and environmental obligations. Real estate ventures. Housing associations.

Prerequisites

None.

Designed For

CPAs, CFPs, financial advisers, landlords, property managers, and real estate professionals.

Objectives

Recognize the underlying principles of accounting, the nature of the accounting cycle, and the types of organizations that can be used to engage in real estate transactions. Specify the types of project costs, as well as when and how to capitalize interest on a real estate project. Identify the steps involved in accounting for an acquired income-producing property, as well as the process flow for goodwill impairment testing. Also, recognize the alternative treatment of amortizing goodwill, and the circumstances under which it can be used. Specify the steps in the five-step revenue recognition process. Identify the options available for valuing exchanged property, and the use of boot in calculating profits, and more.