Maria K. Davis

Accounting for Real Estate Transactions (eBook, PDF)

A Guide For Public Accountants and Corporate Financial Professionals

• Format: PDF

Produktbeschreibung

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.

Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 496
• Erscheinungstermin: 7. November 2011
• Englisch
• ISBN-13: 9781118162835
• Artikelnr.: 37344001

Autorenporträt

Maria Davis, CPA, Partner, Accounting Consultation Group, Deloitte, National Office, is a frequent speaker on real estate technical updates and contributor to AICPA Statement of Position, Accounting for Real Estate Time-Sharing Transactions, and AICPA Statement of Position, Accounting for Certain Costs and Activities Related to Property, Plant, and Equipment. She provides accounting guidance on technical accounting issues, primarily in the subject matters of Real Estate and Leases and joint Ventures and Consolidation, both under U.S. GAAP and IFRS. In addition to more than thirty real estate technical updates across the U.S., she has developed training materials covering accounting and real estate transactions. Over the course of her career with Deloitte, Ms. Davis has provided attest and advisory services to Deloitte's clients in a variety of industries in both the United States and Europe.

Inhaltsangabe

Preface xiii About the Author xv List of Abbreviations xvii PART 1
ACCOUNTING FOR REAL ESTATE TRANSACTIONS--GENERAL 1 Chapter 1: Acquisition,
Development, and Construction of Real Estate 3 1.1. Overview 3 1.2.
Acquisition, Development, and Construction Costs 4 1.3. Costs Incurred to
Sell or Rent a Real Estate Project 20 1.4. Incidental Operations 24 1.5.
Accounting for Costs Incurred Subsequent to Project Completion 24 1.6.
Purchase of Income-Producing Property 26 1.7. Special Accounting Issues 38
1.8. Financial Statement Presentation and Disclosure 57 1.9. International
Financial Reporting Standards 60 1.10. Synopsis of Authoritative Literature
(Pre-Codification References) 72 Chapter 2: Nonmonetary Exchanges of Real
Estate 83 2.1. Overview 83 2.2. Section 1031 Exchange 84 2.3. Nonmonetary
Exchanges Not Governed by Topic 845 (APB Opinion No. 29) 88 2.4. Accounting
for Nonmonetary Exchanges 91 2.5. Nonmonetary Exchange of Real Estate
Involving Monetary Consideration 94 2.6. Special Accounting Issues 97 2.7.
Financial Statement Presentation and Disclosure 99 2.8. International
Financial Reporting Standards 100 2.9. Synopsis of Authoritative Literature
(Pre-Codification References) 101 Chapter 3: Real Estate Sales 107 3.1.
Overview 107 3.2. Applicability of the Real Estate Sale Guidance 110 3.3.
Sale and Profit Recognition 112 3.4. Profit Recognition under the Accrual
Method 113 3.5. Failure to Meet Criteria for the Application of the Accrual
Method 123 3.6. Application of Other Accounting Methods 142 3.7. Special
Accounting Issues 158 3.8. Financial Statement Presentation and Disclosure
168 3.9. International Financial Reporting Standards 173 3.10. Synopsis of
Authoritative Literature (Pre-Codification References) 182 Chapter 4: Real
Estate Leases 191 4.1. Overview 191 4.2. Definition of a Lease 195 4.3.
Lease Classification--General 201 4.4. Lease Classification--Leases
Involving Real Estate 210 4.5. Accounting for Leases 218 4.6. Special
Accounting Issues 222 4.7. Financial Statement Presentation and Disclosure
250 4.8. International Financial Reporting Standards 252 4.9. Synopsis of
Authoritative Literature (Pre-Codification References) 258 Chapter 5:
Sale-Leaseback of Real Estate 275 5.1. Overview 275 5.2. Accounting for
Sale-Leaseback Transactions Involving Real Estate 276 5.3. Specific
Accounting Issues 293 5.4. Financial Statement Presentation and Disclosure
303 5.5. International Financial Reporting Standards 303 5.6. Synopsis of
Authoritative Literature (Pre-Codification References) 305 PART 2
ACCOUNTING FOR REAL ESTATE INDUSTRY-SPECIFIC TRANSACTIONS 311 Chapter 6:
Interests in Real Estate Ventures 313 6.1. Overview 313 6.2. Methods of
Accounting for Interests in Real Estate Ventures 314 6.3. Accounting for
Transactions with a Real Estate Venture 343 6.4. Special Accounting Issues
Related to Consolidation 349 6.5. Special Accounting Issues Related to the
Equity Method of Accounting 355 6.6. Financial Statement Presentation and
Disclosure 364 6.7. International Financial Reporting Standards 370 6.8.
Synopsis of Authoritative Literature (Pre-Codification References) 380
Chapter 7: Time-Sharing Transactions 395 7.1. Overview 395 7.2. Types of
Time-Sharing Arrangements 397 7.3. Accounting for the Sale of Time-Sharing
Intervals 399 7.4. Special Accounting Issues 411 7.5. Financial Statement
Presentation and Disclosure 418 7.6. Synopsis of Authoritative Literature
(Pre-Codification References) 419 Chapter 8: Retail Land Sales 421 8.1.
Overview 421 8.2. Accounting for Retail Land Sales 422 8.3. Special
Accounting Issues 432 8.4. Financial Statement Presentation and Disclosure
434 8.5. Synopsis of Accounting Literature (Pre-Codification References)
434 Glossary 435 Index 455