Explaining Financial Statements (FIN220)
If explaining the financials to your board is not your strong suit, gain the knowledge and credibility you should be projecting as the agent of a multi-million dollar corporation. This course will remove the “boring” or “intimidation” factor associated with learning about numbers and involve you in real-life examples and hands-on activities that provide a solid understanding of community association financial record-keeping and reporting. You will leave this course prepared to better explain the activities that drive the numbers and assist board members in understanding financial statements.
- Differentiate between the roles and responsibilities of the community manager, board members and accounting professionals as they relate to the associations financial documents
- Understand essential accounting terminology and concepts
- Read, locate and summarize information on financial documents, including the balance sheet, income statement, bank reconciliation, aged receivables report, prepaid assessments report and accounts payable report
- Identify information on the general ledger and year-end financial statements
- Interpret financial statements to recognize potential issues and determine any necessary actions to take
- Summarize, explain and answer questions about association financial statements
Who Should Take This Course?
Community managers who want to increase their financial literacy and ability to explain financials to their association board of directors
Prerequisites: None. One or more years of community management experience is recommended.
Continuing Education Units (CEUs): 6
Course Length: 6 hours
Course Fee: Member $245 Non-Member $343
Download a Registration Form if you prefer to email or mail in your registration.
Don’t see an offering near you? You can join a wait list to bring this series to your area through CACMs Request a Course program.
You may also qualify to take this series by correspondence if you have two or more current years of verifiable community association management experience. Learn more.