Accounting for Real Estate Transactions : A Guide for Public Accountants and Corporate Financial Professionals

by Maria K. Davis

• ISBN13: 9780470198520
• ISBN10: 0470198524
• Format: Hardcover
• Copyright: 2008-04-01
• Publisher: Wiley

Summary

The only book presenting the most recently issued accounting pronouncements with significant impact on accounting for real estate transactionsAccounting for Real Estate Transactions 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.Written by industry expert Maria Davis, this book provides members of Audit Committees and Oversight Boards with explanations of major concepts, as well as clear and concise explanations of real estate accounting rules, detailed applications of US GAAP, flowcharts, and exhaustive cross-references of the authoritative literature.Maria Davis, CPA, (NEED RESIDENCE) Partner, Accounting Consultation Group, Deloitte, National Office, is a 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 has served as speaker in more than thirty Real Estate Technical Updates across the U.S. and has developed training materials covering the accounting and real estate transactions.

Author Biography

Maria K. Davis is a partner in the Accounting Consultation Group at Deloitte & Touche LLP's National Office in Wilton, Connecticut. In her current position, 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. Before joining Deloitte's National Office, she worked directly with Leon Mayshak, who was then Deloitte's Real Estate Industry Professional Practice Director, In that role, Ms. Davis participated actively in the standard-setting process by contributing to the AICPA Statement of Position 04-2, Accounting for Time-Sharing transactions, and the proposed Statement of Position, Accounting for Certain Costs and Activities related to Property, Plant, and Equipment. A native German, Ms. Davis has published on U.S. accounting standards in the pre-eminent German accounting journal Der Betrieb. She also contributes to Deloitte's interpretation of accounting standards in Deloitte's Technical Library.

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 Germany.

Ms. Davis received a Master's Degree in Accounting from the University of North Florida, as well as a Degree in Finance from the Hochschule München, Germany. In addition to her CPA qualification, she also holds professional qualifications as a German certified public accountant and a German certified tax advisor. Ms. Davis is a member of several professional organizations, including the American Institute of Certified Public Accountants, the Florida Institute of CPAs, and the German Institute of certified Public Accountants.

Table of Contents

Accounting for Real Estate Transactions - General	p. 1
Acquisition, Development, and Construction of Real Estate	p. 3
Nonmonetary Exchanges of Real Estate	p. 77
Real Estate Sales	p. 101
Real Estate Leases	p. 171
Sale-Leaseback of Real Estate	p. 253
Accounting for Real Estate Industry-Specific Transactions	p. 291
Interests in Real Estate Ventures	p. 293
Time-Sharing Transactions	p. 355
Retail Land Sales	p. 379
Glossary	p. 393
Index	p. 409
Table of Contents provided by Blackwell. All Rights Reserved.