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Course No: 144221

Specialized Industry GAAP - Real Estate


  • Credits: 3.5
  • Program level: Overview
  • Prerequisites: None
  • Advance preparation::

Field of Study: Accounting

Course Description

Specialized Industry GAAP - Real Estate covers the important authoritative pronouncements on GAAP for the specialized real estate industry. This course focuses on financial reporting requirements for real estate project costs (Part I), real estate sales (Part II), and the rental of property (Part III). Part I addresses whether costs associated with real estate projects should be capitalized or charged to expense as incurred. Part II explains how to apply the five-step revenue recognition model on real estate sales under ASC 606 Revenue from Contracts with Customers. Part III discusses how lessors (landlords) and lessees (tenants) account for leased property under ASC 842 Leases. This course also includes specific examples to illustrate the application of these requirements.

Learning objectives

  • a:1:{i:0;s:92:"Recognize accounting principles for real estate project costs (capitalization vs. expensed).";}
  • a:1:{i:0;s:78:"Identify the revenue recognition requirements applied to sales of real estate.";}
  • a:1:{i:0;s:97:"Recognizes key concepts in lease accounting applied to lessors (landlords) and lessees (tenants).";}

Course Material: Online Material

Type of delivery method: QAS Self-study

Final examination expiration date:

The program participant will have one year from the date of purchase to complete the course and final examination.

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Web CPE is registered with the IRS to provide Continuing Education (CE) programs to the Enrolled Agents and other tax return practitioners.

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