There are certain sectors of activity which, due to their own specific characteristics, differ from the rest and require tailored accounting regulations. This is the case for construction and property companies, which have required regulations in the form of sector-specific accounting standards that differ from the Chart of Accounts and which require a specific study. The Advanced Course in Accounting for Estate Agents and Construction Companies provides accounting professionals with the necessary approach to adapt their profession to these types of companies, which are becoming increasingly important in the productive sector and which require experts to manage them.
Corporate
Accounting
75 hours
Accounting for Estate Agents and Construction Companies
Accounting
75 hours
Introduction
Objectives
- To understand the accounting regulations which sets out the obligations of construction and property companies and serves as the basis for our study.
- Review the valuation rules for the Chart of Accounts which directly affect this type of company.
- Analyse the valuation criteria for the sectoral plan of construction companies and their annual accounts. - To determine how to record income using the percentage of completion method and the completed contract method.
- To define the concepts necessary for understanding the cost accounting or cost issues within construction companies.
- Discuss the valuation rules relating to the property companies and their annual accounts.
Table of Contents
TEACHING UNIT 1. SECTOR-SPECIFIC PLANS FOR CONSTRUCTION AND PROPERTY COMPANIES
1. Accounting standardisation and sector-specific plans
2. The difference between a construction company and a property development company
3. Accounting regulations
4. Conceptual framework of the General Chart of Accounts
TEACHING UNIT 2. REVIEW OF VALUATION RULES 8 AND 10 OF THE PGC
1. Delivery notes and advance payments
2. Standard 8. Finance leases
3. Rule 10. Stock levels
TEACHING UNIT 3. REVIEW OF RULES 14 AND 15 OF THE PGC
1. Rule 14. Income from the provision of services
2. Standard 15. Provisions and contingencies
TEACHING UNIT 4. ACCOUNTING FOR CONSTRUCTION COMPANIES I
1. Scope
2. Chart of Accounts in Construction Companies
3. Accounting issues specific to construction companies
4. Valuation standards in construction companies
5. Sales revenue. Recognition of revenue for work completed (Regulation 18
6. Works carried out on a commission basis and under contract
7. Case study: Determination of income
8. Work carried out without a contract
9. Certification of works and invoice
TEACHING UNIT 5. ACCOUNTING FOR CONSTRUCTION COMPANIES II
1. Specific operations in construction companies
2. Transactions with subcontractors
3. Accounting for joint ventures
4. Annual Accounts in Construction Companies
5. Case study: A construction company’s activities
TEACHING UNIT 6. MANAGEMENT ACCOUNTING FOR CONSTRUCTION COMPANIES
1. The building project
2. The construction budget
3. A study of cost categories in construction companies
4. Cost assessment
5. Revenue recognition in the construction company
TEACHING UNIT 7. ACCOUNTING FOR PROPERTY COMPANIES I
1. Scope
2. Chart of accounts
3. Accounting issues specific to property companies
4. Valuation standards for property companies
5. Revenue accounting
TEACHING UNIT 8. ACCOUNTING FOR PROPERTY COMPANIES II
1. Accounting treatment of stock in property companies
2. Valuation of land acquired in exchange for future developments
3. Solved case studies. Land transfers
4. Transfers of items between fixed assets and stock.
5. Joint property and construction activities
6. Subrogable mortgage loans.
7. Surface rights and rights of first refusal.
8. Annual Accounts in the Property Sector
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