Real Estate Accounting

Curriculum Guideline

Effective Date:
Return to Course
Print Guideline
Course
ACCT 3550
Discontinued
No
Course Code
ACCT 3550
Descriptive
Real Estate Accounting
Department
Accounting
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
Not Specified
PLAR
No
Semester Length
15 Weeks
Max Class Size
35
Course Designation
None
Industry Designation
None
Contact Hours

In person: Lecture and/or Seminar: 1 X 3 hours per week OR 2 X 2hrs per week

or

Hybrid: minimum 50% in person and up to 50% online

or

Online: Synchronous and/or Asynchronous Lecture and/or Seminar

Method(s) Of Instruction
Lecture
Seminar
Online
Hybrid
Learning Activities

Lecture and/or seminar

All methods of instruction apply to in class, hybrid and/or online modes of learning.

Course Description
This course provides introduction to real estate accounting. Topics include accounting principles related to real estate, financial analysis, project development costs and revenue recognition. In addition, the course explores different organizational structures, financial statement presentations and accompanying disclosures. Student will use computer software for project costing, budgeting and variance analysis.
Course Content
  • Forms of real estate organizations 
  • Accounting for operating property revenues and expenses
  • Operating expense reconciliation and recoveries
  • Lease incentives and tenant improvements 
  • Budgeting for operating properties 
  • Variance analysis 
  • Real estate valuation and investment analysis 
  • Accounting for real estate investments and acquisition costs 
  • Accounting for project development costs on GAAP basis 
  • Real estate development revenue recognitions 
Learning Outcomes

At the end of the course, the successful student should be able to:

  • Evaluate forms of Real Estate Organizations.
  • Analyze operating property revenues  and expenses.
  • Prepare operating expense reconciliation and recoveries.
  • Identify lease incentives and tenant improvements.
  • Prepare budgets for operating properties and perform variance analysis using a computer software.
  • Prepare estate valuation.
  • Analyze investment and related acquisition costs.
  • Prepare and record project development costs and revenue recognitions when performance obligation is satisfied over time. 
Means of Assessment

Assessment will be in accordance with the Douglas College Evaluation Policy.

Assignment(s) and/or test(s)

 10%-20%

Term project (s)

 10%-30%

Midterm Examination

 20%-30%

Final Examination      

 30%-40%

 

       100%

Students must write the midterm examination and the final examination to obtain credit for the course. 

To pass this course, students must obtain a minimum of 50% on invigilated assessments, with the 50% calculated on a weighted average basis. Invigilated assessments include, in-class test(s), midterm examination and the final examination.

Textbook Materials

Real Estate Accounting Made Easy. Obioma A. Edisike. Latest Edition

OR other textbooks as approved by the Accounting department.

AND Instructor selected material relevant to real accounting under CPA Handbook.

 

Prerequisites

ACCT 1210 OR ACCT 1235 with a minimum grade of C

AND ACCT 2320 with a minimum grade of C

OR

ACCT 3008 with a minimum grade of C

OR currently active in: PDD Accounting