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The Accounting Standards Division has noted that diverse practices are followed in accounting for both costs to sell and costs to rent real estate projects. It has also noted that diverse practices are followed in accounting for costs and revenues during the initial operating period of a rental project, before occupancy stabilizes (sometimes referred to as the "rent-up" period). The Division believes that narrowing the range of those practices is desirable. This Statement of Position sets forth the Division's recommendations on accounting for costs to sell and costs to rent real estate projects and for initial rental operations of such projects.
Real estate business -- United States -- Accounting; Rental housing -- United States -- Accounting
Accounting | Taxation
American Institute of Certified Public Accountants. Real Estate Accounting Committee, "Accounting for costs to sell and rent, and initial rental operations of, real estate projects; Exposure draft (American Institute of Certified Public Accountants), 1977, Aug. 1" (1977). Statements of Position. 377.