scope of the reit topic

Industry1

1. 974-10Overall974 Real Estate—Real Estate Investment Trusts

   ASC 974-10 is the Overall subtopic for Real Estate—Real Estate Investment Trusts, describing the structure and scope of the REIT Topic and pointing to its subtopics (equity method/joint ventures, other expenses, consolidation, interest, and leases). It provides only incremental industry-specific guidance: REITs must also follow all otherwise applicable GAAP. It applies to all REITs, whether or not they have elected the federal tax treatment that avoids corporate income tax by distributing at least 90 percent of taxable income to shareholders.