There are several unique accounting issues for real estate brokerages, including the accounting for commissions and referrals, multiple listing service fees, and shared space and services. In this real estate accounting course, we show how to account for these transactions and much more, including brokerage commissions on development projects, leasing commissions, franchise fees, and virtual office expenses. This real estate tax course is essential reading for anyone who handles the accounting for a real estate brokerage.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize the types of revenue that a real estate brokerage can generate.
Specify how the use of accrual or cash basis accounting impacts brokerage accounting.
Identify how a brokerage would record compensation expense.
Recognize the proper accounting treatment of franchise fees by a brokerage.
Identify the proper accounting treatment for virtual office expenses by a brokerage.
Major Topics
Cash Basis Accounting vs. Accrual Basis Accounting
Brokerage Revenues
Brokerage Expenses
Brokerage Assets
Real Estate Brokerage Reporting
