To help your company or client comply with real estate accounting requirements, the Manual cites applicable accounting literature from the FASB, AICPA, and EITF, including accounting requirements for acquisition, development, and construction (ADC) costs.
The Manual also focuses on key real estate tax issues, including the choice of entity, sales and exchanges, real estate tax credits, and loss limitations. In addition, you can learn how to avoid the adverse tax consequences of having your real estate activities classified as "passive."
Several chapters in the Manual focus on emerging issues in real estate finance. You get in-depth discussions of acquisition, development, and construction costs, real estate workouts, debt restructuring, and current value reporting. In addition, it provides an authoritative overview of the various forms of real estate ownership – from partnerships to REITs to REMICs – along with the advantages and disadvantages of each strategy.