This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and https://bookkeeping-reviews.com/ consultant for more than 25 years. He is […]
The total amount of vouchers owed is added up, with one lump sum recorded on the balance sheet as accounts payable. Once the voucher is paid, proof of payment is included in the voucher and the voucher is considered paid. The voucher includes all supporting documents to show how much money is owed and the […]
In general, the higher the ROA, the more efficient the company is at generating profits. However, any one company’s ROA must be considered in the context of its competitors in the same industry and sector. To continue the example from above, you would average the value of the widget manufacturer’s assets from 2020, discovering that […]
The CPA will also conduct an inspection of your HOA’s minutes and contracts for errors. This report comes with a “positive assurance.” The CPA expressly guarantees that all financial statements correctly identify the financial position and health of your homeowners association and all of its operations. General Ledger — is the center of your HOA financial records, where […]