Start Date: 10/7/2021 3:00 PM EDT
End Date: 11/11/2021 7:00 PM EST
Venue Name: BOMI Virtual Learning Platform
Fall Class: Budgeting and Accounting
Date: October 7th, 2021 to November 11th, 2021
Time: 3:00pm to 7:00pm
Instructor - Martha Abernethy
Costs - TBA
Digital Textbook Included, Printed $40 additional
EVERYTHING YOU WANTED TO KNOW ABOUT BUDGETING AND HOW TO MAKE YOUR ACCOUNTANT LOVE YOU!
This course will take you through the basic budgeting process, and will also inform you on how commercial property accounting works. A tremendous help to the manager who is either tackling their first budget or who has taken on a new position where they have more accounting responsibilities than before. Join us in October and learn some tips and tricks from the BOMI pros!
Budgeting and Accounting is designed to enable you to prepare your own building or facilities budget. You will have an opportunity to apply concepts within the real property and facilities context.
Key to accounting is the fundamental accounting equation and the double-entry accounting technique. Activities in this course will guide you through both these concepts. You will also learn about preparing income and expense budgets and explaining budget variances. Case examples involving this buildings’ tenants, budgeting processes, and leasing requirements provide realistic illustrations of the types of scenarios encountered in day-to-day operations of commercial real estate properties.
Upon successful completion of this course, learners will be able to:
- Identify potential opportunities for increasing a property’s net operating income
- Determine recoverable and nonrecoverable operating expenses
- Establish cost controls
- Prioritize capital expenditures
- Explain budget variances to stakeholders
- Follow best practices in tenant communications
- Analyze and interpret financial statements of prospective tenants
Key topic areas:
record-keeping requirements • revenue and expenditure cycles • cash basis income statement • financial statements • annual reports • lease abstracts • income and expense budgeting • working with capital
PAC and PMFP certificates