This two-day course examines international financial reporting issues and their effect on real estate entities. Our specialist instructors discuss the critical issues that go beyond mere number-crunching and explain, clearly and simply, the way the real estate sector conducts and shapes its accounting and reporting practices under existing and new IFRSs.

By reference to accepted accounting practices in the sector, delegates leave this course with practical knowledge of the wide spectrum of principle-based IFRSs that are applicable to the real estate sector. Participants will, for example, learn how to relate the standards on property, plant and equipment, leases, business combinations and investment property to leased or sold assets. The program also covers the treatment of investment projects, related borrowing costs and marketing, sales, development and construction expenditures, the appropriate basis for investment property valuation, and disclosure requirements and other issues that are unique to the real estate sector. The course will also deal with the requirements of the new standards on revenue (IFRS 15, effective for 2018) and Leases (IFRS 16, effective for 2019).

This valuable course answers questions such as:

  • What are the accounting requirements for typical real estate lease, property, and investment property activities?
  • How are lease contracts analyzed for accounting purposes?
    • What is required under IFRS 16 Leases when accounting by lessors and lessees?
    • How does the new standard, IFRS 15 Revenue from Contracts with Customers impact on real estate transactions?
  • When are lease incentives, service costs and embedded derivatives recognized and how are they measured?
    • How does IFRS 9 Financial Instruments impact on mortgages, traded debt, and other financing instruments used in the real estate market?

Learning Objectives

  • Understand the basic principles of IFRS
  • Establish accounting policies where specific guidance does not exist
  • Learn practical answers to typical real estate questions on leases, property, plant and equipment and investment property
  • Be able to analyze lease contracts and accurately account for lease incentives, service costs and embedded derivatives
  • Understand the new IFRS 15 model
  • Understand the proposed lease standard form the lessor and lessee view
  • Apply “best practices” and industry recommendations within the real estate sector

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Skill Level: Beginner