CIRA Update Course

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Overview

8.0 Credits
IN-PERSON

The following course is an on-site training event.

Let the FICPA come to you and provide your team with the highest quality customized in-person education they can receive without ever leaving the office. For more information about on-site programs, please use our contact page.

This course presented along with “Condo’s & HOAs: Advanced Accounting, Auditing and Other Issues” can make an invaluable twoday combination.

Objectives

Provide participants with an update and review of the most difficult and frequently found accounting, auditing and tax issues in Common Interest Realty Associations (CIRAs). Types of associations include residential and commercial condominium associations, time-share condominium associations, homeowner associations and cooperative associations. This course will enable participants to obtain a refresher course and update of major accounting and tax issues facing the CIRA industry. Updates also are included for condominium associations, time-share condominium associations, homeowners’ associations and other related CIRA entities. State-specific issues will be addressed.

Major Topics

The major topics of this course include:

  • Updates for FASB, AICPA clarified audit standards, new audit reports, compilation and review standards (including SSARS 21) and related standards regarding OCBOA and interim reporting
  • Issues relating to independence, Ethics Interpretation 101-3 and consulting
  • Latest information on IRC sections 277 and 528, revenue rulings, tax cases, capital gains, IRS audits and tax advice memorandums, including reserve issues, elections, carry-backs and carry-forwards
  • Which form to file: 1120 or 1120H?
  • Problem areas, including professional pronouncements as they affect tax issues; tax accounting for common property; reserve
    issues and tax matters; state income tax issues; real and personal property taxes
  • Examples and case studies
  • Other issues as deemed timely and applicable

Designed For

CPAs with an interest in the CIRA industry, including condominium and homeowners’ association accounting professionals, should attend. CPAs 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 their clients, friends or relatives who are connected with CIRAs will find an

Prerequisite

Knowledge of the Common Interest Realty Association (CIRA) industry

Let the FICPA come to you and provide your team with the highest quality customized in-person education they can receive without ever leaving the office. For more information about on-site programs, please use our contact page.