FASB ASC 970 - Real Estate - General


The Financial Accounting Standards Board (FASB) released Accounting Standards Codification 970 (ASC 970) to address general topics dealing with real estate, such as those listed below.

  • Common interest realty associations
  • Real estate investment trusts
  • Retail land
  • Time-sharing activities

Within this topic one can also find important industry guidelines for certain topics. These range from how to present your statement of cash flows, revenue recognition, and more. It is a highly recommended starting point for anyone in this industry as it has many of the important standards within.

Check out more high level explanations of the FASB ASC in our Guide to the Accounting Standards Codification!

For more in depth information on this and other FASB ASC topics, check out the following books.

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