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Real Estate Accounting & Auditing

Author/Moderator: Jeffrey Lieman, CPA, CFE
Publisher: AICPA
Availability: Online Access
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Real estate assets have some unique features which can affect the way real estate transactions are structured, accounted for, and audited. How do you record asset impairments? How do you handle reporting issues related to rental operations? These are just some of the many special considerations that apply to real estate. If you advise or work for companies with real estate holdings, this CPE course is for you. Learn how to identify the three distinct stages of real estate assets, then examine and apply the accounting and auditing standards governing each stage.

Topics Discussed:

  • Accounting for real estate acquisition and development
  • Impairment of real estate assets
  • Rental operations
  • Real estate sales and profit recognition
  • Estimating fair value of real estate assets
  • Audit strategies and techniques for real estate activities

Learning Objectives:

  • Apply the accounting and auditing standards governing real estate.
  • Identify accounting and auditing problems surrounding real estate transactions.
  • Estimate fair value of real estate assets.

Prerequisite: General understanding of accounting and auditing standards

Advanced Preparation: None

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NASBA Field of Study: Accounting and Auditing
Level: Intermediate
Recommended CPE Credit: 7.5
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