Companion to PPC's Guide to Homeowner's Associations and Other Common Interest Realty Associations - Course 1 - Accounting Principles and Practices (HOATG211)  

Determine what accounting literature applies to CIRAs and how they should account for cash, cash equivalents, and marketable securities.

Identify how CIRAs should account for member assessments, other income, and receivables.

Recognize appropriate accounting practices for common property and other real property owned by CIRAs.

Determine best practices for how CIRAs address prepaid expenses and other assets; funds for major repairs, replacements, and capital improvements; and reserve studies.

Recognize how CIRAs should account for debt and other liabilities, members’ equity, and income taxes.