This course has been updated to reflect changes in the TAX Cut and Jobs act. This course covers the accounting and auditing issues related to real estate transactions found in FASB Accounting Standards Codification Topics 360, 970 as well as 976. It details the determination of capitalization versus expensing of costs related to real estate projects, including the capitalization of interest. It discusses each revenue recognition method and applies these methods to real estate transactions based upon the criteria found in the standards. A detailed knowledge in real estate transactions and/or experience at a mid-level position within an organization with operational or supervisory responsibilities, or both.