• Course Information
    4.3 (617)

    Title: Specialized Industry GAAP: Real Estate
    Category: Accounting and Auditing
    Field of Study: Accounting
    Course Code: A021-0437
    CPE Credits: 3.5
    Price: $31.95
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Description

Description:
Specialized Industry GAAP - Real Estate covers the important authoritative pronouncements on GAAP for the specialized real estate industry. This course focuses on financial reporting requirements for real estate project costs (Part I), real estate sales (Part II), and the rental of property (Part III). Part I addresses whether costs associated with real estate projects should be capitalized or charged to expense as incurred. Part II explains how to apply the five-step revenue recognition model on real estate sales under ASC 606 Revenue from Contracts with Customers. Part III discusses how lessors (landlords) and lessees (tenants) account for leased property under ASC 842 Leases. This course also includes specific examples to illustrate the application of these requirements.

Delivery Method: Online Interactive Self Study

Level: Overview

Prerequisites: Basic Accounting

Advanced Preparation: None

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Course Details

Author: Delta Publishing

Category: Accounting and Auditing

Field of Study: Accounting

Passing Score: 70%

Publication Date: 06/14/2021

Technical Details: Accounting: Technical

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Objectives

Objectives:
1. Recognize accounting principles for real estate project costs (capitalization vs. expensed)
2. Identify the revenue recognition requirements applied to sales of real estate.
3. Recognizes key concepts in lease accounting applied to lessors (landlords) and lessees (tenants).

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Profession

NASBA: Yes

QAS: Yes

CPA: Suitable for all CPAs

IRS: No IRS credit for Enrolled Agents.

Profession Identifiers : CPA

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