- NY Credits : 8.0
- TX Credits : 8.0
Companion to PPC's Guide to Homeowners' Associations - Course 2 - Common Interest Realty Associations and Applicable Accounting Principles and Practices (HOATG172)
Recognize what defines a common interest realty association (CIRA), the common characteristics and types, and how CIRAs are established.
Identify the regulatory environments for the CIRA industry, the accountant’s involvement with CIRAs, and the authoritative literature for CIRA audits.
Recognize the authoritative guidance that affects CIRAs.
Identify how CIRAs account for cash and cash equivalents and the disclosures and which type of marketable securities CIRAs can invest in and how to account for them.
Determine the measurement of the amounts owed, the valuation of receivables, the appropriate classification on the financial statements for member assessments, reporting of other income and receivables, and accounting guidance for CIRAs related to common property and other real property.
Identify the accounting treatment for prepaid expenses and other assets for CIRAs and the management of capital improvement funds.
Recognize a CIRA's management of debt and other liabilities, including the financing options open to a CIRA, interfund transfers and security deposits and how a CIRA would report on members’ equity and income taxes.
Lesson 1—Common Interest Realty Associations
Lesson 2—Accounting Principles and Practices for CIRAs