By Maria K. Davis(auth.)

Accounting for genuine property Transactions, moment Edition is an updated, entire reference advisor, in particular written to aid execs comprehend and follow the accounting ideas in relation to genuine property transactions. This booklet presents monetary pros with a robust instrument to guage the accounting results of particular offers, allowing them to constitution transactions with the accounting outcomes in brain, and to account for them based on US GAAP. Accountants and auditors are supplied with significant innovations, transparent and concise causes of actual property accounting principles, certain purposes people GAAP, flowcharts, and exhaustive cross-references of the authoritative literature.Content:
Chapter 1 Acquisition, improvement, and development of genuine property (pages 1–81):
Chapter 2 Nonmonetary Exchanges of genuine property (pages 83–106):
Chapter three genuine property revenues (pages 107–189):
Chapter four actual property rentals (pages 191–274):
Chapter five Sale?Leaseback of actual property (pages 275–310):
Chapter 6 pursuits in actual property Ventures (pages 311–394):
Chapter 7 Time?Sharing Transactions (pages 395–419):
Chapter eight Retail Land revenues (pages 421–434):

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Additional resources for Accounting for Real Estate Transactions: A Guide for Public Accountants and Corporate Financial Professionals, Second Edition

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66 ASC 970-340-25-15 (FAS 67, paragraph 19). 2 Costs Incurred to Rent a Real Estate Project67 Costs to rent a real estate project under operating leases fall in one of two categories: (1) initial direct costs and (2) other than initial direct costs. Costs to rent projects under direct financing or sales-type leases are treated like costs to sell. The Real Estate Project Costs guidance in Topic 970 (FASB Statement No. 69 The accounting for such costs is provided in Subtopic 840-20 (FASB Statement No.

80 Statement No. 141(R) is applied prospectively to business combinations for which the acquisition date is on or after the beginning of the first annual reporting period on or after December 15, 2008. Earlier application is not permitted (FAS 141(R), paragraph 74, not codified). 81 The definition of a business in Securities and Exchange Commission (SEC) Regulation S-X, Rule 11-01(d) differs from the definition of a business in Topic 805 (Statement No. 141(R)); accordingly, SEC registrants have to undertake a separate analysis under Rule 11-01(d) when evaluating the reporting requirements of SEC Regulation S-X.

The SEC staff notes that a fundamental distinction between other recognized intangible assets and goodwill is that goodwill is both defined and measured as an excess or residual asset, while other recognized intangible assets are required to be measured at fair value. The SEC staff does not believe that the application of the residual method to the valuation of intangible assets can be assumed to produce amounts representing the fair values of those assets. The requirement in Topic 350, Intangibles—Goodwill and Other (FASB Statement No.

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