Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
Real estate entities have unique financial reporting issues under Accounting Standards for Private Enterprise (ASPE). This course uses exercises and examples to illustrate these issues to provide practical advice for those involved.
This course reviews the ASPE standards relevant to the real estate industry, as applicable to both developers and those with income-producing properties, using industry guidance available from the Real Property Association of Canada (REALpac). Additionally, participants will discuss the unique accounting issues encountered by builders, developers, and landlords that have direct or indirect ownership in real estate.
Topics Include:
- Accounting for real estate development costs
- Accounting for construction of rental properties
- Interest capitalization and accounting for transaction and financing fees
- Accounting for holdbacks
- Revenue recognition on sale of real estate
- Revenue recognition from rental properties
- Impairment of real estate properties
- Contract modifications and claims
- Determination of cost of sales for properties sold
NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.
Schedule
- May 29, 2025, 8:30 a.m. - 12:30 p.m.
- May 30, 2025, 8:30 a.m. - 12:30 p.m.
Key Takeaways
By the end of this course, participants should be able to:
- Recognize choices available in accounting for real estate entities and the impact of such choices.
- Identify what costs should be capitalized for properties under development.
- Recognize revenue on real estate properties for sale.
- Recognize revenue from rental properties.
- Draft financial statement note disclosures for a real estate company.
Who Will Benefit
Professionals involved in the preparation of private enterprise financial statements for real estate companies and practitioners who serve private clients in the real estate industry.
Prerequisite(s)
Participants should be familiar with the CPA Handbook – Assurance and Part II Accounting Standards for Private Enterprises (ASPE).
How to Access the Course
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
Electronic material can be accessed one week prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Richa Khanna, CPA, CA is an independent consultant who provides consulting services to small and medium sized practitioners. She assists these practitioners in ensuring compliance with their quality control objectives by providing monitoring services and efficiency reviews. She also provides consulting services related to accounting and assurance areas, risk management and ethical considerations and quality control matters. She also develops and delivers training for public accounting firms on topics related to assurance and Canadian ASPE. She is currently the Chair, Small and Medium-Sized Practitioners Committee at CPA Canada (Audit and Assurance Taskforce) and volunteers as a member of the Disciplinary Committee at CPA Ontario.