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Real Estate Accounting Made Easy by Obioma A. Ebisike (2010, Hardcover)
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About this product
Product Identifiers
PublisherWiley & Sons, Incorporated, John
ISBN-100470603399
ISBN-139780470603390
eBay Product ID (ePID)104888415
Product Key Features
Edition2
Book TitleReal Estate Accounting Made Easy
Number of Pages208 Pages
LanguageEnglish
TopicAccounting / General, Real Estate / General
Publication Year2010
GenreBusiness & Economics
AuthorObioma A. Ebisike
FormatHardcover
Dimensions
Item Height1 in
Item Weight15.2 Oz
Item Length9.1 in
Item Width6.2 in
Additional Product Features
Intended AudienceTrade
Dewey Edition23
Dewey Decimal657/.8335
Table Of ContentAbout the Author xi Preface xiii Chapter 1 Introduction to Real Estate 1 Types of Real Estate Assets 1 Common Industry Terms 8 Chapter 2 Basic Real Estate Accounting 17 History of Double-Entry Bookkeeping 17 Types of Accounts 18 Accounting Methods 21 Recording of Business Transactions in the Accounting System 23 Journal Entries 24 Basic Accounting Reports 26 Chapter 3 Forms of Real Estate Organizations 37 Sole Ownership 38 Common and Joint Ownership 38 Partnerships 39 Joint Ventures 41 Corporations 41 Limited Liability Companies 43 Real Estate Investment Trusts 44 Chapter 4 Accounting for Operating Property Revenues 47 Types of Leases 47 Revenue Recognition 52 Lease Classification 53 Additional Cost Recoveries 55 Operating Expenses Gross-up 56 Contingent Rents 57 Rent Straight-Lining 58 Modification of an Operating Lease 61 Sublease of Operating Lease 65 Chapter 5 Accounting for Operating Property Expenses 67 Operating Costs 67 Chapter 6 Operating Expenses Reconciliation and Recoveries 77 Most Common Recoverable Operating Expenses 78 Most Common Nonrecoverable Operating Expenses 78 Calculating Tenant Pro-Rata Share of Expenses 79 Chapter 7 Lease Incentives and Tenant Improvements 83 Lease Incentives 83 Tenant Improvements 85 Tenant Improvement Journal Entries 85 Further Comparison of Lease Incentives and Tenant Improvements 86 Differences in Cash Flow Statement Presentation 87 Demolition of Building Improvement 87 Chapter 8 Budgeting for Operating Properties 89 What Is a Budget? 89 Components of a Budget 89 Chapter 9 Variance Analysis 95 Sample Operating Property Variance Analysis 95 Salient Points on a Variance Analysis 98 Chapter 10 Market Research and Analysis 99 Market Research Defined 99 Market Analysis Defined 99 Market Research: Practical Process 100 Chapter 11 Real Estate Valuation and Investment Analysis 107 What Is Real Estate Valuation? 107 Approaches to Real Estate Valuation 108 Chapter 12 Financing of Real Estate 119 Equity 119 Debt Financing 119 Other Financing Sources 122 Types of Loans 123 Debt Agreements 123 Financing Costs 127 Relationship Between a Note and a Mortgage 128 Accounting for Financing Costs 128 Chapter 13 Accounting for Real Estate Investments and Acquisition Costs 129 Methods of Accounting for Real Estate Investments 129 Purchase Price Allocation of Acquisition Costs of an Operating Property 135 Chapter 14 Accounting for Project Development Costs on GAAP Basis 139 Stages of Real Estate Development Project 139 Postdevelopment Stage 147 Chapter 15 Development Project Revenue Recognitions 149 Full Accrual Method 150 Deposit Method 154 Installment Method 156 Reduced-Profit Method 157 Percentage-of-Completion Method 159 Cost Recovery Method 170 Chapter 16 Audits 173 Audit Overview 173 Types of Audits 179 Index 185
SynopsisA hands-on guide to the ins and outs of real estate accounting made easy! Boiling down the complicated details of real estate accounting into manageable essentials, Real Estate Accounting Made Easy equips you with the tools you need to successfully run the financial and accounting operations within your organization. Always practical and never over-technical, this helpful guide: Discusses straightforward accounting terminology Clearly explains real estate accounting Covers the characteristics, advantages, and disadvantages of entities in which real estate assets are held Equips you to understand the reporting entity Helps you become conversant in various real estate accounting topics Author Obioma Anthony Ebisike, a leading authority on real estate accounting, offers workable information in basic terminology. Even if you do not have a professional grasp of accounting principles and financial reporting, this book makes it all clear with accounting rules explained in terms anyone can understand, to help you better fulfill your duties. Suitable for investors, analysts, accountants, and auditors, Real Estate Accounting Made Easy is your essential guide for a clear, concise explanation of real estate accounting finance., All the fundamentals of accounting and finance of the real estate industry-made easy Providing both the theories and practices of real estate from an accounting and financial perspective, Real Estate Accounting Made Easy is a must-read for anyone who needs a thorough and easier understanding of the real estate industry. Walks you through the audit processes, including how to prepare the audit and the different kinds of audits Helps new auditors, the company being audited, and users of audit reports understand the fundamentals of the financial aspect of the real estate business Includes forms of real estate ownership, sole ownership, partnerships, joint ventures and real estate investment trusts (REITs), including the advantages and disadvantages of these entities covered in detail A practical guide to the field of real estate accounting and finance, this easy-to-understand introductory and intermediary book on the field of real estate begins with the elementary and basic aspects of real estate to ensure that those that are new to the field are comfortable with this often-complicated subject matter., All the fundamentals of accounting and finance of the real estate industry-made easy Providing both the theories and practices of real estate from an accounting and financial perspective, Real Estate Accounting Made Easy is a must-read for anyone who needs a thorough and easier understanding of the real estate industry.
LC Classification NumberHF5686.R3
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