Every person should have a budget…and few do. A budget helps smooth out the ups and downs of short term and long term financial goals. However, we, as individuals, have… Read More
Countdown to Year-End!
The end of the year is approaching and before long we will be setting New Year’s resolutions for 2017. But before that new beginning, we need to wrap up 2016…. Read More
Expecting the Unexpected
Newman Certified Public Accountant, PC What is a Board of Directors to do when an unexpected downturn occurs in the Association’s financial position? This may be from uncollected assessments… Read More
Fraud Happens — A True Story
Have you ever heard a Board member or Manager say:? “Fraud can’t happen in our Association. We have good controls and people we can trust.” In the Community Association… Read More
QuickBooks & Association Accounting
When looking at any basic accounting program for an association, there are some features that are “must-have.” The program must give managers and Boards enough financial information to properly do… Read More
What? We Owe Income Taxes this Year?
This spring, we have heard that question asked more often than in any year in recent memory. Why? As associations mature, reserve balances are increasing and a primary component of… Read More
The Twelve Days of December — Count Down to Year End Financial Planning for your Association
Newman Certified Public Accountant, PC WSCAI Journal, December 2013 Year- end financial planning for your Association does not need to be the daunting. Let’s break it down into “12… Read More
The World According to “GAAP”
Newman Certified Public Accountant, PC WSCAI Journal Nov/Dec 2007 What in the world is “GAAP?” You may have seen the term in the Washington State Condominium Act (“New Act”)… Read More
What is the Role of the Financial Committee?
Sandy Cobb, CWD Group Karen Oliver, Yalnes, Inc. (Used with Permission -July/August 2011 WSCAI Journal) Being a Board member can be challenging with all of the day to day items… Read More
Who is our Client?
Who exactly is the client in an audit, review or tax engagement? The engagement letter is usually written to the board of directors of an association. Often, it is signed… Read More