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Statements of Position

1977

Real estate business -- United States -- Accounting

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Application Of The Deposit, Installment, And Cost Recovery Methods In Accounting For Sales Of Real Estate; Exposure Draft (American Institute Of Certified Public Accountants), 1977, Aug. 15, American Institute Of Certified Public Accountants. Committee On Accounting Jan 1977

Application Of The Deposit, Installment, And Cost Recovery Methods In Accounting For Sales Of Real Estate; Exposure Draft (American Institute Of Certified Public Accountants), 1977, Aug. 15, American Institute Of Certified Public Accountants. Committee On Accounting

Statements of Position

Questions have arisen with respect to the application of the general principles and specific conclusions set forth in the AICPA Industry Accounting Guide, Accounting for Profit Recognition on Sales of Real Estate, issued in 1973. The Division addressed some of those questions in Statement of Position No. 75-6, issued on December 29, 1975. This Statement presents recommendations as a result of questions concerning the application of the deposit, installment, and cost recovery methods, which are described in paragraphs 34 to 37 of the Guide, in accounting for sales of real estate. The Guide does not specifically address the application of ...