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Real Estate Accounting

Exam Questions: 30
Course Level: Basic
Pages: 224 | Content: 206, Supplemental: 18
NASBA Area of Study: Accounting
Not Acceptable for: Enrolled Agents
Version: 6970G

This course is filled with practical information for putting basic real estate accounting principles to work for you or your organization. It is a road map to a broad range of real estate accounting topics, including all forms of ownership. It will introduce real estate terms and products, discuss various types of transactions, and address the audits that real estate entities are subjected to.

This course requires no real estate accounting experience and will provide basic coverage of topics such as forms of real estate entities, accounting for operating property revenues and expenses, accounting for capital improvements and tenant inducements, real estate valuation and investment analysis, accounting for real estate investments and acquisition costs, and accounting for project development costs on a GAAP basis. PLEASE NOTE: Not accepted for Enrolled Agents. All course material provided. No prerequisites. Course level: Basic.

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Course Information

Table of Contents
  • Introduction to Real Estate
  • Forms of Real Estate Organizations
  • Accounting for Operating Property Revenues
  • Accounting for Operating Property Expenses
  • Operating Expenses Reconciliation and Recoveries
  • Lease Incentives and Tenant Improvements
  • Budgeting for Operating Properties
  • Variance Analysis
  • Market Research and Analysis
  • Real Estate Valuation and Investment Analysis
  • Financing of Real Estate
  • Accounting for Real Estate Investments and Acquisition Costs
  • Accounting for Project Development Costs on GAAP Basis
  • Real Estate Development Revenue Recognitions
  • Real Estate Brokerage Accounting
  • Audits
Objectives
  • To identify characteristics of various real estate assets
  • To recognize characteristics of various forms of real estate ownership
  • To identify differences between types of leases
  • To recognize proper accounting treatment for operating expenses
  • To identify recoverable and nonrecoverable operating expenses
  • To recognize how to account for tenant improvements and lease incentives
  • To identify the components of a budget
  • To identify bases for variance analysis
  • To recognize sources for market research and market analysis
  • To identify approaches to real estate valuation
  • To identify types of real estate financing
  • To recall methods of accounting for real estate investments
  • To recognize the stages of real estate development projects
  • To identify the methods of profit recognition
  • To recognize which costs relate to contracts
  • To recognize types of management assertions

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.