IFRS Accounting for Real Estate

The basic IFRS accounting regime for investments and transactions in real estate (property; land and buildings) is commendably straightforward. Investments are accounted for on the basis of either depreciated/impaired cost or fair value, while letting transactions are either finance leases or operating leases. But – as is the case so often with IFRS – the devil is in the detail.

Dissatisfaction with IFRS-based numbers, specifically as a basis for cross-border intercompany comparisons, has increased the importance of the industry-specific non-GAAP performance measures developed by EPRA (European Public Real Estate Association).

This course has three principal objectives. It is intended to give preparers of accounts a firm basis for practical implementation of the IFRS and EPRA reporting regimes, to enable senior decision makers of real estate investment companies to make better informed decisions where the exercise of judgement is permitted or required by the accounting standards, and to enable investors and analysts to make better judgements of the financial performance and health of companies engaged in the real estate industry.

The course will be presented on the basis of the accounting standards in force at the time of presentation, but the final session will include a preview of relevant standards which have been published but have not yet come into force, or are still in the process of review and/or replacement.

The course makes extensive use of real-life comparative case studies and of fully worked examples. This course is available as an in-house course and can be delivered to a team of people.

For further information about the course, trainer or to request a quote, please contact the center.