Be it buying and selling properties or renting out apartments, there is no denying that real estate is one of the best investment vehicles around. Not only is it a good source of income, it also provides tax benefits and offers protection against inflation. Take note, however, that real estate is still a business that requires you to shell out cash and carry out transactions in order to generate income. With that in mind, it is vital that you have a real grasp of accounting concepts and practices in order for you to know if you are actually making profit or losing from your investments or if you are paying the right amount of taxes.
This course will familiarise you with the basics of accounting as it relates to the discipline of real estate. It will start out by giving a general definition of real estate and identifying its asset types and entities. It will also introduce you to terms and financial information common to the industry. The course will then proceed discussing the accounting aspects of specific real estate transactions. These include revenues, expenses, budgeting, variance analysis, valuation, financing, development costs, revenue recognition, and audit processes and procedures, just to name a few.
The primary objectives of the real estate transactions accounting certification course are to: (a) expose you to concepts, terms, and financial information relevant to real estate; (b) explain to you the rules that govern different real estate transactions; (c) familiarise you with basic accounting as it relates to different real estate transactions; and (d) enable you to properly assess and apply accounting rules and practices in order to make informed real estate decisions.