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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. Consider these questions: 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 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.

Key Topics:

  • 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
This course will prepare you to:

  • 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

Who Will Benefit?

  • Practitioners working with real estate entities
  • Real estate entities needing training on intermediate to advanced accounting and tax concepts

Prerequisite: General understanding of accounting and auditing standards

Advance Preparation: None

NASBA Field of Study: Accounting and Auditing
Level: Intermediate
Recommended CPE Credit: 8
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