Specialized Industry GAAP: Real Estate
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.

Course Publication Date: July 19, 2021

This course is available with NO ADDITIONAL FEE if you have an active self study membership or all access membership or can be purchased for $20.00!

Author:Delta CPE
Course No:ACT-REALGAAP-4901
Recommended CPE:3.50
Delivery Method:QAS Self Study
Level of Knowledge:Overview
Advanced Preparation:None
Recommended Field of Study:Accounting
Learning Objectives
  • Recognize accounting principles for real estate project costs (capitalization vs. expensed).
  • Identify the revenue recognition requirements applied to sales of real estate.
  • Recognizes key concepts in lease accounting applied to lessors (landlords) and lessees (tenants).

CPE Depot Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Sponsor Number: 109423


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