Making better use of internal auditors in real estate companies

Article Abstract:

A real estate company can easily lessen its audit fees by advising its accountants to perform its external audit duties in consonance with the duties of its internal audit staff. The American Institute of Certified Public Accountants's Auditing Standard Board released the Statement on Auditing Standards No 65 as a guide for CPAs in incorporating the duties of a company's internal audit staff into the CPA audit.

Accounting, auditing, & bookkeeping, Methods, Practice, Accountants, Internal auditing, American Institute of Certified Public Accountants

---

Inclusion of future development costs in basis: recent developments

Article Abstract:

The IRS released new regulations in Apr 1992 which give real estate developers new guidelines regarding future costs in the basis of property sold. Upon compliance, the new procedure lessens the effect of the economic performance rules on a taxpayer's ability to include future development expenses in the basis of property sold. The new procedure shall take effect for property sales on January 1, 1993.

Finance, taxation, & monetary policy, Analysis, Real property tax, Real property taxes, United States. Internal Revenue Service

---

Troubled real estate: tax aspects of debt restructurings and foreclosures - part 2

Article Abstract:

Creditors can avail of several alternatives in cases they are enmeshed in troubled real estate debt restructuring situations. Some of the alternatives available are the condonation of a portion of a debt, modification of the debt instrument's terms, institution of a foreclosure sale of the mortgaged property or the acceptance of a voluntary transfer of property in satisfaction of debt.

Taxation, Tax policy, External debt relief, Debt relief, Foreclosure

Similar abstracts:

• Abstracts: Making sense of financial asset securitization investment trusts. Trends in the real estate appraisal industry
• Abstracts: The role of investment research in corporate real estate firms. Investment characteristics of international real estate equities
• Abstracts: Managing the future: real estate in the 1990s Emerging trends in real estate: 1992. Real estate appraisal in disarray: do we have the answer?
• Abstracts: The securitization of institutional real estate investments. Managing salespeople in a down market
• Abstracts: Environmental cleanup liability in real estate transactions: are you at risk? Understanding and avoiding personal liability for environmental violations

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.