ASPE: Real Estate Industry

ASPE: Real Estate Industry
Distance Learning (DL) courses are sessions that have been recorded from live, in-person offerings and made available as on-demand videos online, along with any corresponding course materials. Note these are purely self-study products and there will be no access to instructors for questions and answers. Each title qualifies for verifiable CPD hours upon successful completion of a quiz at the end of the session. Unlimited quiz attempts are available until the passing grade of 70% or better is achieved. After this, you will no longer have access to the quiz.

NOTE: Course login details are normally sent to registrants within one week from date of registration.


Recorded: November 2021 

Because the video recordings are taken from live seminars, the information presented is up-to-date at the time of recording. While we make an effort to keep our inventory updated and seasonally remove outdated titles, changes in accounting, tax and other acts and legislations can happen at any time. It is up to the purchaser to take note of the recording date, and to determine for themselves whether the recorded video is still relevant to their needs. 

This seminar 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.

By the end of this course, participants will 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.

Individuals registered in the seminar will acquire knowledge of the following concepts:

  • 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

Participants should be familiar with the CPA Handbook – Assurance, Part II Accounting Standards for Private Enterprises (ASPE).

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.

CPD-7 Hours

4/1/2022 - 3/31/2023 11:59 PM