Real Estate Accounting Made Easy - Hardcover

by Obioma A. Ebisike (Author)

Grasp the fundamentals of real estate accounting, finance, and investments

Real Estate Accounting Made Easy is just that--an accessible beginner's guide for anyone who needs to get up to speed on the field of real estate accounting, finance, and investments. Beginning with the elementary aspects of real estate to ensure that you're comfortable with the subject matter, it goes on to explore more in-depth topics in a way that's easy to digest.

The book begins with discussions on introduction to the real estate industry and basic real estate accounting. Building on knowledge from the initial chapters, the book goes on to cover the different form of real estate organizations, financial statements such as the balance sheet, income statement, shareholders equity and the statement cash flow, and more.

- Provides theories and practices of real estate from an accounting, financial, and investments perspective

- Advanced transactions are discussed in an easy-to-understand manner

- Content reflects the FASB's new standards on revenue recognition and lease accounting

- Accounting for operating property expenses, operating expenses reconciliation and recoveries, lease incentives and tenant improvements, budgeting, variance analysis are discussed in detail

- Covers types of financing for real estate acquisitions, accounting for real estate investments, project development costs, and real estate brokerage

- The book also walks you through the financial audit process

If real estate is a new territory for you, fear not! This book helps new auditors, accounting, finance, and investment professionals, and users of financial reports understand the fundamentals of the financial aspect of the real estate business.

Front Jacket

Real Estate Accounting Made Easy offers an easy to understand solution on real estate accounting, finance, and investments. Even if you do not have a professional grasp of accounting principles and financial reporting, this book makes it all clear with accounting rules explained in terms anyone can understand. The book is up to date with recent accounting pronouncements and helps readers better understand the real estate sector from an accounting and finance perspective.

The real estate industry is complex, with many specific concepts and requirements that do not apply anywhere else. It can therefore be time consuming for accountants, investors, auditors, and others to develop a robust enough understanding of real estate to do their jobs. Real Estate Accounting Made Easy resolves this issue completely, providing an introduction to the real estate industry and a concise yet complete guide to its accounting principles.

Readers with no prior real estate experience will especially appreciate the first two chapters, which define key real estate terms and products and give a clear overview of the fundamentals of real estate. The subsequent chapters discuss a broad range of topics in real estate accounting, including various forms of ownership, accounting for property operation, real estate valuation and financing, and more.

One of the most valuable aspects of Real Estate Accounting Made Easy is its coverage of auditing, which will be useful both to auditors and those on the receiving end of audits. Readers will learn what real estate audits consist of, who are subject to them, and what materials auditors typically request. The details inside this book make it possible and even easy to achieve a clean real estate audit.

This Second Edition has been updated to reflect the new FASB lease and revenue recognition accounting standards. The updated standard has obsoleted many resources related to real estate accounting, but each chapter of Real Estate Accounting Made Easy is thoroughly revised and current. This how-to guide offers a wealth of practical information for putting real estate accounting principles to work.

Back Jacket

An accessible guide to the fundamentals of accounting for the real estate industry

Distilling the details of real estate accounting into manageable essentials without omitting important specifics, Real Estate Accounting Made Easy equips you with the tools you need to perform financial and accounting operations related to the real estate industry. You will become conversant in a broad range of real estate accounting topics, even if you have zero previous experience in real estate.

Always practical and never over-technical, this helpful guide:

• Defines important real estate terminology
• Provides a thorough introduction to real estate accounting basics
• Demonstrates accounting for revenues, expenses, capital improvements, and inducements
• Discusses intermediate topics like budgeting, variance analysis, and market research
• Gives detailed, easy-to-follow examples of accounting operations

Author Obioma A. Ebisike offers workable information and clear examples using accessible terminology. Suitable for investors, analysts, accountants, auditors, and others interested in the real estate industry, Real Estate Accounting Made Easy is essential for a clear, concise explanation of real estate accounting and finance.

Author Biography

OBIOMA ANTHONY EBISIKE is an economist, certified public accountant (CPA), and a chartered accountant. He holds a PhD in Economics (with honors) from The New School for Social Research, a Master's degree in Real Estate Finance and Investments from New York University, and a Bachelor's degree in Accounting (Magna cum Laude) with minors in Finance and in Economics from The College of Staten Island, The City University of New York.

Dr. Ebisike has extensive work experience and has held senior management positions at industry leading firms, such as Douglas Elliman Real Estate, ICON Investments, Hines Interests LP and was an Audit and Advisory Services Manager at Deloitte & Touche LLP.

Dr. Ebisike is a faculty member at the NYU Real Estate Institute. He is also the author of The Fallouts: Banks and Financial Crises. He lives in New York City.