Table
of Contents
Chapter 1 - Introduction to
Accounting
Chapter 2 - Initial Real Estate Costs
Real Estate Preacquisition Costs
Treatment of Preacquisition Costs
Operating and Non-Operating
Classifications
Internally-Generated Preacquisition
Costs
Real Estate Taxes and Property
Insurance
Assets for Which You Must Capitalize
Interest
Assets for Which You Do Not
Capitalize Interest
The Interest Capitalization Period
Calculating Interest Capitalization
Impact of Financing on Property
Purchase Price
Costs Allocated to Real Estate
Projects
Real Estate Donated to the
Government
Selling Costs Charged to Expense
Real Estate Incidental Operations
Presentation and Disclosure Topics
Classifications within the Statement
of Cash Flows
Capitalized Interest Disclosures
Chapter 3 - Purchase of
Income-Producing Property
Overview of Business Combinations
Identifiable Assets and Liabilities,
and Noncontrolling Interests
Goodwill or Gain from Bargain
Purchase
Presentation and Disclosure Topics
Identifiable Assets and Liabilities,
and any Noncontrolling Interest
Goodwill or Gain from Bargain
Purchase
Replacement of the Accounting
Standards
Step One: Link Contract to Customer
Step Two: Note Performance
Obligations
Step Four: Allocate Prices to
Obligations
What Constitutes a Real Estate Sale?
Full Accrual Method Revenue
Recognition
Profit Recognition Not Using the
Full Accrual Method
Buyer’s Initial Investment Does Not
Qualify
Buyer’s Continuing Investment Does
Not Qualify
Receivable is Subject to Future
Subordination
Decision Tree for Use of Methods
Revenue and Profit Recognition
Methods
Percentage-of-Completion Method
Real Estate Project Recoverability
Derecognition of Real Estate Project
Costs
Presentation and Disclosure Topics
Percentage-of-Completion Method
Presentation and Disclosure Topics
Chapter 6 - Nonmonetary Exchanges
Overview of Nonmonetary Transactions
Exchanges Involving Monetary
Consideration
Exchanges of a Nonfinancial Asset
for a Noncontrolling Ownership Interest
Presentation and Disclosure Topics
Chapter 7 - Time-Sharing Activities
Criteria for Revenue Recognition
Percentage-of-Completion Method
Additional Time-Share Transactions
Additional Products and Services
Effects of Below-Market Financing
Estimating Uncollectible Receivables
Payments by Seller to Support
Operations
Operation of Affinity Programs
Accounting Changes and Error
Corrections
Presentation and Disclosure Topics
Presentation and Disclosure Topics
Chapter 9 - Asset Retirement and
Environmental Obligations
Overview of Asset Retirement
Obligations
The Initial Measurement of an Asset
Retirement Obligation
Subsequent Measurement of an Asset
Retirement Obligation
Settlement of an Asset Retirement
Obligation
Overview of Environmental
Obligations
Measurement of Environmental
Obligations
Recoveries Related to Environmental
Obligations
Presentation and Disclosure Topics
Chapter 10 - Real Estate Ventures
Accounting for an Interest in a Real
Estate Venture
Recognition of Noncontrolling
Interest
Share of Accumulated Other
Comprehensive Income
Transactions with a Real Estate
Venture
Purchase of Real Estate from a
Venture
Sale of an Investment in a Real
Estate Venture
Income Recognition by Syndicators
Acquisition, Development, and
Construction Arrangements
Presentation and Disclosure Topics
Chapter 11 - Housing Associations
Common Interest Realty Associations
Issues Specific to Cooperative
Housing Associations
Presentation and Disclosure Topics
Common Interest Realty Association
Presentation Requirements
Common Interest Realty Association
Disclosures
Cooperative Housing Association
Presentation Requirements
Cooperative Housing Corporation
Disclosures
Final Examination.....................................................................................................................................................188