Introduction to Real Estate Transactions Accounting
Real estate transactions refer to those transactions involving two or more parties wherein the rights of one party (seller) over a designated real estate property are transferred to another party (buyer) in exchange of money. Real estate transactions are said to be quite complex because of the complex issues linked to the property rights that are required to be transferred, the specific monetary amount being exchanged and the specific real estate transactions regulations mandated by the government. It should also be noted that this type of transaction is primarily governed by huge bodies of federal and state statuses and common law. Different parties who wish to carry out a real estate transaction are required to follow the requirements established by the law in their state to prevent them from dealing with any legal issues.
Because of the somewhat complex nature of real estate transactions, accounting for these may also become confusing. This is the main reason why you need to take up a real estate transactions accounting certification course if you are planning to become an expert in the field of accounting for certain transactions in the real estate industry. Real estate transactions accounting requires you to become aware of the most updated accounting rules linked to real estate so you will never have a hard time applying such rules in recognizing, accounting and measuring transactions in the real estate industry. Accounting for real estate also requires you to become aware of a few powerful tools that are useful in evaluating the major accounting consequences that may result from certain real estate transactions.
Brainmeasures Real Estate Transactions Accounting Certification Program
In your attempt to learn the basic rules in structuring and accounting for real estate transactions in accordance with Generally Accepted Accounting Principles (GAAP), you should consider enrolling in the real estate transactions accounting certification program from Brainmeasures. This program is offered by Brainmeasures, a renowned and reliable online certification and testing company certified by ISO, so you have a hundred percent assurance that you will learn everything that you need to learn about accounting for real estate transactions after you complete its offered real estate transactions accounting course. The program aims to provide you with expert knowledge about the principles used in real estate accounts and finance transactions so there is a great chance for your skills in accounting to be honed. The program also comes with a real estate transactions exam and the result of this would determine if you are worthy to receive your certificate.
Highlights of the Real Estate Transactions Accounting Certification Program from Brainmeasures
The real estate transactions accounting certification program from Brainmeasures covers a variety topics that are sure to help you account for real estate transactions without violating any accounting standards and rules. In order for you to get an idea about the topics that you can expect to learn from the program, here are just some of the many topics that it covers:
- Introduction to the development, construction and acquisition costs of real estate properties
- Cost of a real estate project
- Allocating costs
- Effectively changing estimates and project plans
- Costs that you may incur when selling or renting a real estate property
- Understanding incidental operations
- How to account for all the costs incurred subsequent to the completion of a real estate project
- Identifying the specific date when a real estate project can be completed
- Buying a real estate property which is capable of producing income
- Recognizing acquired intangible assets based on accounting standards
- Accounting standards and rules used in the proper valuation of intangible assets, lands and buildings
- Understanding and computing environmental costs and liabilities
- Properly presenting and disclosing financial statements
- Introduction to International Financial Reporting Standards (IFRS) as linked to real estate transactions
- Recognizing sales and profits
- Understanding the percentage of completion method, profit-sharing method, leasing method and financing method
- Accurately presenting the gain on sale of land option
- Understanding real estate leases
Beneficiaries of the Real Estate Transactions Accounting Certification Program
The real estate transactions accounting certification program is primarily designed for professionals who aim to fully understand how to apply certain accounting rules to real estate transactions. This is a huge help to financial professionals including accountants and auditors who wish to receive a more concise explanation on real estate accounting rules, flowcharts and detailed applications of GAAP into all transactions in the real estate.
Job Opportunities after Completing a Real Estate Transactions Accounting Certification Course
After receiving your real estate transactions accounting certification, you get the chance to access a number of important positions in an organization. Being certified in the field allows you to work in the following positions:
- Real Estate Property Accountant
- Senior Real Estate Tax Accountant
- Real Estate Transactions Analyst
- Real Estate Controller
- Real Estate Appraiser
- Real Estate Accounting Executive
Expected Salary for Real Estate Transactions Accounting Certification Holders
Real estate transactions accounting certification holders are also given the opportunity to receive a more attractive and stable pay. You can start earning an average annual salary of $76,000 after you become certified in the field.
We Guarantee Brainmeasures Certifications Are Just Worth
Brainmeasures is an ISO 9001-2008 certified company, Brainmeasures is a leading online skill testing company. Our certifications are acknowledged by employers worldwide. Reason behind this trust is our world class testing standards. Brainmeasures offers skills tests in over 1200 varied fields and over 100 professionally developed courses and certification programs.
- Certification tests are developed by experienced professionals and subject matter experts.
- Each test goes under four rounds of proofreading to make it 100% error free.
- All tests developed are first taken by experts who judge its standards and then give their feedback.
- Tests are developed to check actual understanding of candidate’s knowledge of the subject and not mere on basis on difficulty level.
- While developing each test this fact is considered that what is the motive and purpose of testing.
- Each test developed checks complete knowledge of the test taker on that particular subject.
- Complete testing is so designed that a candidate has to finish the test within given time frame thus ruling out chances of using unfair means.
- Our Certifications determine the performance capability of an individual critical to the job.
- Minimum standard of achievement is set by subject matter experts All certifications are updated regularly to include latest additions to the field.