Condos and HOAs: Accounting Update (4 Hour)

Printer Friendly
Text Size: A A A A
 

Online registration for this course is now closed. Please contact the Member Service Center at (850) 224-2727 or (800) 342-3197 if you wish to inquire about registering.

Back Search

Overview

4 Credits
IN-PERSON

Do you need a quick review of the most difficult and frequently found accounting and auditing issues in Common Interest Realty Associations (CIRAs)? This program reviews audit reports for year-end 12-31-2013, SSARS 19 engagement letters, reporting, reserve and turnover situations for residential and commercial condominium associations (condos) and homeowners’ associations and covers Florida statutes for Homeowners' Associations (HOAs). Issues include bad debts and budgeting in a recession period. This course also discusses the status of the CIRA Guide and what is authoritative GAAP. The Exposure Draft for Compilations and the possible changes to Compilations and Preparation of Financial Statement will be examined as well.

Objectives

To provide participants with an accelerated refresher and review examination of the most difficult and frequently found accounting and auditing issues in Common Interest Realty Associations (CIRAs). These issues include SSARS 19 reporting, reserve and turnover situations for residential and commercial condominium associations (condos) and homeowners’ associations. The newly issued state statutes for Homeowners' associations (HOAs) regarding reserves and turnovers will also be covered. Any new pronouncements for Ethics, Compilations, Reviews, and Audits will be discussed as they apply to CIRAs.

Major Topics

  • Update on professional pronouncements and standards that directly relate to CIRAs. These pronouncements and standards include FASB Statements (the Codification References) and other accounting matters
  • Clarified SASs and other auditing standards including the audit report, SSARS (including SSARS 19) and other related compilation and review standards, OCBOA and interim situations, professional ethics and related matters, state statutes and rules updates and analysis
  • Common property accounting, reporting and disclosure issues
  • Future repairs and replacement accounting (reserve issues) such as financial statement reporting, note disclosure and reserve methods (including pooling method)
  • Audit, review and compilation considerations for engagement management, audit programs, practice aids, disclosures and fund reporting
  • Documentation issues from SSARS 19 and related documentation"
  • Turnover and transition problems
  • Tax matters relating to accounting issues
  • Related case studies, exhibits and examples
  • Other issues as deemed timely and applicable

Designed For

CPAs with an interest in CIRA accounting and auditing issues, including those in public practice, real estate management and accounting; professional employees in the CIRA industry; residents, officers and board members; and professionals with an interest for clients, friends or relatives who are connected with CIRAs

Prerequisite

Knowledge of the Common Interest Realty Association (CIRA) Industry

Sessions

Please select the appropriate session or option below to continue with your online purchase

Thursday, October 23, 2014

Choose your event manual type (select only 1)

Add to Cart

FICPA Seminar EZMaterials! Instead of picking up paper manuals at the event, you’ll be able to download the EZMaterials as searchable PDFs to your laptop, tablet or other device seven days before the event. For an additional fee you may choose to purchase a hardcopy of the seminar manuals. If requested during registration at least eight days prior to the course, your hardcopy will be available for pickup at the event. Click here for more information.