This paper is concerned with accounting for leasehold property. While property professionals are familiar with commercial and technical aspects of leases, recent proposals offer serious implications beyond the notional historical reporting of an entity’s financial position. Current proposals...

This paper is concerned with International Accounting Standards (IAS) and their impact upon existing accounting practices for property within the UK. It also anticipates the wider international and European demands for IAS. There are two primary points to consider. First, the European Union (EU)...

Purpose – The paper benchmarks compliance for 2010‐2011 with the RICS Code of Practice for Commercial Service Charges 2006. Design/methodology/approach – Whether the proxy adopted is measured by floorspace or number of commercial office buildings, the sample size conforms to Kreycie and...

Purpose – The paper examines how accounting practice changes, which forces generate change, and the role of a best practice benchmark within this. It examines this process of change within service charge accounting in commercial property. The purpose of this paper is to establish that...

Purpose – The purpose of this paper is to assess whether financial reporting practices for commercial service charges in the UK retail sector match the best practice requirements of the Royal Institution of Chartered Surveyors (RICS) Code of practice for commercial service charges. This...

Traditionally in the UK, accountants and their concepts of value have held little interest for those involved with the technical aspects of property management. Indeed, property valuers and accountants have traditionally adopted differing professional approaches towards the concept of valuation,...

Purpose – The unique characteristics of property are being recognised by those who create accounting standards. The purpose of this paper it to discuss the process by which standards are created and the opportunities for the involvement of property professionals, owners and users within the...

Purpose – The paper aims to examine how to create a sinking fund, the legalities of its creation and ownership, taxation issues and the accounting treatment of tenant contributions towards sinking funds within service charges demands in the UK office sector. Design/methodology/approach – The...