Professional Library



	FASB Summaries

Statement No. 66
Accounting for Sales of Real Estate

STATUS

Issued: October 1982

Effective Date:

For real estate sales transactions entered into

after December 31, 1982

Affects:

Amends FAS 26, paragraph 7

Amends FAS 28, paragraphs 3 and 23 through 25

Amends FAS 32, Appendix A

Affected by:

Paragraph 40 superseded by FAS 98

Footnote 5 superseded by FAS 121

Footnote 34 amended by FAS 98

Issues Discussed by FASB Emerging Issues Task Force (EITF)

Affects: No EITF Issues

Interpreted by:

Paragraphs 3, 4, and 6 interpreted by EITF Issue No. 88-24

Paragraph 5 interpreted by EITF Issues No. 86-7 and 85-24

Paragraph 9 interpreted by EITF Issues No. 87-9, 87-29,

88-12, and 88-24

Paragraph 10 interpreted by EITF Issues No. 87-9, 88-12,

and 88-24

Paragraph 11 interpreted by EITF Issues No. 87-9

and 88-12

Paragraph 12 interpreted by EITF Issue No. 84-17

Paragraph 26 interpreted by EITF Issue No. 86-6

Paragraph 53 interpreted by EITF Issue No. 87-9

Paragraph 54 interpreted by EITF Issues No. 87-9

and 88-12

Paragraph 101 and footnote 33 interpreted by EITF

Issue No. 98-8

Related Issues:

EITF Issues No. 84-37, 85-27, 86-17, 88-14, 88-21, 89-14,

96-21, and 97-1

Abbreviations for Accounting Pronouncements

FAS - FASB Statements
FIN - FASB Interpretations
FTB - FASB Technical Bulletins
APB - APB Opinions
AIN - AICPA Interpretations
ARB - Accounting Research Bulletins
CON - FASB Concepts
EITF - EITF Issues
Q&A - FASB Implementation Guides

Accounting:

Taxation:

Ethics & Regulation

Risk Management

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