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Informationen zum Autor The General Editor of the Statistics without Mathematics series at Vor Press is a researcher and data analyst with experience in government, business and the third sector, who is also well-known as an internationally published author of books on statistical testing. Klappentext 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. Zusammenfassung 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. Inhaltsverzeichnis 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 1.2.1. Preacquisition Costs 4 1.2.2. Project Costs 8 1.2.3. Cost Allocation 15 1.2.4. Change in Estimates or Project Plans and Abandonments of Projects 18 1.3. Costs Incurred to Sell or Rent a Real Estate Project 20 1.3.1. Costs Incurred to Sell a Real Estate Project 20 1.3.2. Costs Incurred to Rent a Real Estate Project 23 1.4. Incidental Operations 24 1.5. Accounting for Costs Incurred Subsequent to Project Completion 24 1.5.1. Determining the Date of Project Completion 24 1.5.2. Costs Incurred Subsequent to Project Completion 25 1.6. Purchase of Income-Producing Property 26 1.6.1. Purchase of a Business 26 1.6.2. Purchase of an Asset/Asset Group 28 1.6.3. Recognition of Intangible Assets Acquired 29 1.6.4. Measurement of Property, Plant, Equipment, and Intangibles 30 1.6.5. Allocation of Acquisition Cost 33 1.6.6. Accounting for Intangibles Subsequent to Acquisition 36 1.6.7. Key Differences: Business versus Asset Acquisitions 37 1.7. Special Accounting Issues 38 1.7.1. Costs of Amenities 38 1.7.2. Start-up Costs 39 1.7.3. Land Options 41 1.7.4. Financing as Part of a Purchase Transaction 45 1.7.5. Environmental Costs and Liabilities 46 1.7.6. Transactions with Related Parties 54 1.8. Financial Statement Presentation and Disclosure 57 1.8.1. Cash Flow Statement Presentation 57 1.8.2. Segment Disclosures for Public Companies 57 1.8.3. Other Presentation and Disclosure Requirements 58 1.9. International Financial Reporting Standards 60 1.9.1. IAS 16, Property, Plant and Equipment 60 1.9.2. IAS 40, Investment Property 64 1.9.3. IFRS 3, Business Combinations 69 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 2.3.1. Exchange with Continuing Involvement of the Transferor 89 2.3.2. In-Substance Sale and Purchase Transaction 90 2.3.3. Nonmonetary Exchange Involving Business 90 2.3.4. Involuntary Conversion 91 2....
