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Accounting for Real Estate Transactions: A Guide For Public Accountants and Corporate Financial Professionals, 2nd Edition

Book Description

Accounting for Real Estate Transactions, Second Edition is an up-to-date, comprehensive reference guide, specifically written to help professionals understand and apply the accounting rules relating to real estate transactions. This book provides financial professionals with a powerful tool to evaluate the accounting consequences of specific deals, enabling them to structure transactions with the accounting consequences in mind, and to account for them in accordance with US GAAP. Accountants and auditors are provided with major concepts, clear and concise explanations of real estate accounting rules, detailed applications of US GAAP, flowcharts, and exhaustive cross-references of the authoritative literature.

Table of Contents

  1. Cover
  2. Wiley Corporate F&A Series
  3. Title Page
  4. Copyright
  5. Dedication
  6. Preface
    1. Acknowledgments
  7. About the Author
  8. List of Abbreviations
  9. Part 1: Accounting for Real Estate Transactions—General
    1. Chapter 1: Acquisition, Development, and Construction of Real Estate
      1. 1.1 Overview
      2. 1.2 Acquisition, Development, and Construction Costs
      3. 1.3 Costs Incurred to Sell or Rent a Real Estate Project
      4. 1.4 Incidental Operations
      5. 1.5 Accounting for Costs Incurred Subsequent to Project Completion
      6. 1.6 Purchase of Income-Producing Property
      7. 1.7 Special Accounting Issues
      8. 1.8 Financial Statement Presentation and Disclosure
      9. 1.9 International Financial Reporting Standards
      10. 1.10 Synopsis of Authoritative Literature (Pre-Codification References)
    2. Chapter 2: Nonmonetary Exchanges of Real Estate
      1. 2.1 Overview
      2. 2.2 Section 1031 Exchange
      3. 2.3 Nonmonetary Exchanges Not Governed by Topic 845 (APB Opinion No. 29)
      4. 2.4 Accounting for Nonmonetary Exchanges
      5. 2.5 Nonmonetary Exchange of Real Estate Involving Monetary Consideration
      6. 2.6 Special Accounting Issues
      7. 2.7 Financial Statement Presentation and Disclosure
      8. 2.8 International Financial Reporting Standards
      9. 2.9 Synopsis of Authoritative Literature (Pre-Codification References)
    3. Chapter 3: Real Estate Sales
      1. 3.1 Overview
      2. 3.2 Applicability of the Real Estate Sale Guidance
      3. 3.3 Sale and Profit Recognition
      4. 3.4 Profit Recognition under the Accrual Method
      5. 3.5 Failure to Meet Criteria for the Application of the Accrual Method
      6. 3.6 Application of Other Accounting Methods
      7. 3.7 Special Accounting Issues
      8. 3.8 Financial Statement Presentation and Disclosure
      9. 3.9 International Financial Reporting Standards
      10. 3.10 Synopsis of Authoritative Literature (Pre-Codification References)
    4. Chapter 4: Real Estate Leases
      1. 4.1 Overview
      2. 4.2 Definition of a Lease
      3. 4.3 Lease Classification—General
      4. 4.4 Lease Classification—Leases Involving Real Estate
      5. 4.5 Accounting for Leases
      6. 4.6 Special Accounting Issues
      7. 4.7 Financial Statement Presentation and Disclosure
      8. 4.8 International Financial Reporting Standards
      9. 4.9 Synopsis of Authoritative Literature (Pre-Codification References)
    5. Chapter 5: Sale-Leaseback of Real Estate
      1. 5.1 Overview
      2. 5.2 Accounting for Sale-Leaseback Transactions Involving Real Estate
      3. 5.3 Specific Accounting Issues
      4. 5.4 Financial Statement Presentation and Disclosure
      5. 5.5 International Financial Reporting Standards
      6. 5.6 Synopsis of Authoritative Literature (Pre-Codification References)
  10. Part 2: Accounting for Real Estate Industry-Specific Transactions
    1. Chapter 6: Interests in Real Estate Ventures
      1. 6.1 Overview
      2. 6.2 Methods of Accounting for Interests in Real Estate Ventures
      3. 6.3 Accounting for Transactions with a Real Estate Venture
      4. 6.4 Special Accounting Issues Related to Consolidation
      5. 6.5 Special Accounting Issues Related to the Equity Method of Accounting
      6. 6.6 Financial Statement Presentation and Disclosure
      7. 6.7 International Financial Reporting Standards
      8. 6.8 Synopsis of Authoritative Literature (Pre-Codification References)
    2. Chapter 7: Time-Sharing Transactions
      1. 7.1 Overview
      2. 7.2 Types of Time-Sharing Arrangements
      3. 7.3 Accounting for the Sale of Time-Sharing Intervals
      4. 7.4 Special Accounting Issues
      5. 7.5 Financial Statement Presentation and Disclosure 70
      6. 7.6 Synopsis of Authoritative Literature (Pre-Codification References)
    3. Chapter 8: Retail Land Sales
      1. 8.1 Overview
      2. 8.2 Accounting for Retail Land Sales
      3. 8.3 Special Accounting Issues
      4. 8.4 Financial Statement Presentation and Disclosure
      5. 8.5 Synopsis of Accounting Literature (Pre-Codification References)
  11. Glossary
  12. Index