Real Estate Accounting

Price: $92.50

CPE Credits: 10.0

Category:

Course Number: AACSBREA

real estate accounting cpe

Description:
There are many kinds of real estate transactions, each of which must be accounted for in its own unique way. These events include the sale of time-share intervals, the purchase of income-producing property, the construction of a new facility using debt financing, property swaps, and the sale of land. Real Estate Accounting shows how to properly account for each of these transactions and many more, as well as how to disclose them in one’s financial statements.
The book is divided into two sections. In Chapters 1 through 6, we focus on the main real estate activities of building or buying property, followed by its sale to a third party. In Chapters 7 through 11, we deal with more specialized topics. These topics include time-sharing activities, rental transactions, asset retirement obligations, real estate ventures, and housing associations. Table of Contents

Delivery: Online QAS Self study

Level: Overview. Real Estate Accounting is designed primarily for professionals, who can use it as a reference tool for determining the most appropriate accounting treatment of different real estate transactions.

Prerequisites: None

Advanced Preparation:

Author: Steven Bragg, CPA

Publication: June 2015
Updated: August 2018

Format: PDF
Pages: 209

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  • 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 criteria for determining a buyer’s commitment to pay, and the types of income recognition methods that can be used.
  • Recognize the nature of a retail land sale, the manner in which income recognition methods can be applied to these sales, and the calculation of the net sales figure associated with a retail land sale.
  • Identify the options available for valuing exchanged property, and the use of boot in calculating profits.
  • Identify the characteristics of time-share arrangements, as well as the calculation of sale prices and the criteria for recognizing a time-share sale.
  • Recognize the nature of contingent rent agreements, lease incentives, and leasehold improvements, and the accounting for them.
  • Specify the criteria for recognizing asset retirement obligations, as well as the rules for calculating these obligations. Also, identify the criteria for recognizing environmental obligations.
  • Identify the calculation requirements for the equity method of accounting, as well as the origin of the costs used in the cost method, and the treatment of investor loans to a venture.
  • Recognize the types of entities that can be classified as common interest realty associations, as well as the accounting for special assessments.

Student Comment (M.Wiesinger): ..”found it a good course. I like the use of examples, as it helped in understanding several of the issues.”

 

Description:
There are many kinds of real estate transactions, each of which must be accounted for in its own unique way. These events include the sale of time-share intervals, the purchase of income-producing property, the construction of a new facility using debt financing, property swaps, and the sale of land. Real Estate Accounting shows how to properly account for each of these transactions and many more, as well as how to disclose them in one’s financial statements.
The book is divided into two sections. In Chapters 1 through 6, we focus on the main real estate activities of building or buying property, followed by its sale to a third party. In Chapters 7 through 11, we deal with more specialized topics. These topics include time-sharing activities, rental transactions, asset retirement obligations, real estate ventures, and housing associations. Table of Contents

Delivery: Online QAS Self study

Level: Overview. Real Estate Accounting is designed primarily for professionals, who can use it as a reference tool for determining the most appropriate accounting treatment of different real estate transactions.

Prerequisites: None

Advanced Preparation:

Author: Steven Bragg, CPA

Publication: June 2015
Updated: August 2018

Format: PDF
Pages: 209

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  • 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 criteria for determining a buyer’s commitment to pay, and the types of income recognition methods that can be used.
  • Recognize the nature of a retail land sale, the manner in which income recognition methods can be applied to these sales, and the calculation of the net sales figure associated with a retail land sale.
  • Identify the options available for valuing exchanged property, and the use of boot in calculating profits.
  • Identify the characteristics of time-share arrangements, as well as the calculation of sale prices and the criteria for recognizing a time-share sale.
  • Recognize the nature of contingent rent agreements, lease incentives, and leasehold improvements, and the accounting for them.
  • Specify the criteria for recognizing asset retirement obligations, as well as the rules for calculating these obligations. Also, identify the criteria for recognizing environmental obligations.
  • Identify the calculation requirements for the equity method of accounting, as well as the origin of the costs used in the cost method, and the treatment of investor loans to a venture.
  • Recognize the types of entities that can be classified as common interest realty associations, as well as the accounting for special assessments.

Student Comment (M.Wiesinger): ..”found it a good course. I like the use of examples, as it helped in understanding several of the issues.”

 

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