Practical US GAAP entries for property deals, development, lease income, impairment, sales, and disclosures
5 sections · 10 lessons
Define the opening accounting questions for a property deal, then decide whether the purchase is an asset acquisition or a business combination and allocate cost to the acquired pieces.
3 lessonsApply development-stage capitalization rules to soft costs and interest, including taxes and insurance during construction and avoidable interest under ASC 835-20.
2 lessonsBuild component depreciation schedules and evaluate a held-and-used impairment using fair value measurement, with the loss recorded and left unreversed.
2 lessonsCompute operating-lease income under ASC 842, then account for free rent, lease incentives, and tenant improvements in the lessor entries.
2 lessonsRecord the real estate sale, remove accumulated depreciation and impairment, and assemble the key GAAP disclosures that close the property story.
1 lessonA real estate owner, operator, or developer often needs to decide whether a deal is an asset purchase or a business, then carry that property through development, depreciation, impairment, lease accounting, and sale. This course builds that full accounting path under current US GAAP, using concrete journal entries and whole-dollar examples tied to real-world property facts. By the end, the reader can trace the accounting for acquisition, capitalization, lessor income, impairment, and disposition without guessing at the mechanics.
The course covers acquisition accounting for asset deals and business combinations, cost allocation to land, building, and intangibles, and capitalization of development and interest costs. It also covers component depreciation, held-and-used impairment at fair value, ASC 842 lessor straight-line rent with free rent, lease incentives and tenant improvements, real estate sales, and required disclosures.
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