The eight edition of the Real Estate Accounting Guide 2023 is complementary to the edition issued in 2022. The new edition offers the updated part concerning the IFRS requirements. Furthermore, new topics discussed in the guide include the deemed cost concept for first time adopters of IFRS, IESBA’s recent decision on accounting for rent reliefs, surrender premiums, accounting for retentions payable, sale and leaseback transactions and considerations related to functional currency.

This year’s publication also examines key tax aspects that real estate investors are facing in various Central European countries. The guide focuses on the most problematic and current issues, which pose practical difficulties and rise the greatest concerns among real estate investors.

Given the ever-increasing importance of the ESG (Environmental, Social, Corporate Governance) matters, this year’s guide has a separate chapter that, in addition to discussing the mandatory requirements, also addresses the issues related to the new CSRD (Corporate Sustainability Reporting Directive), which was introduced in response to the need for transparency related to sustainable development as well as to understand any risks and opportunities that come with it. Additionally, the valuations chapter includes more information on the potential impact of ESG matters on a fair value measurement of investment properties.

Real Estate Accounting Guide 2023 Download the report PDF

We do hope this guide will be a reliable source of information on the most important accounting and tax issues in the real estate sector. We also trust that our publication will facilitate the work of practitioners while preparing financial statements and reports, which will ultimately result in collecting reliable information that meets the highest standards of the real estate industry

- says Ewelina Dufrat, Partner Associate, Audit & Assurance.