CANADY & CANADY ADVANTAGE
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We are nationally recognized experts in the accounting, auditing, and financial reporting of community associations and non-profit organizations.
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CANADY & CANADY ACCOUNTING BLOG
- January 27, 2019
Preliminary analytical procedures are part of the planning process to obtain an understanding of the entity to be audited and its environment for the purpose of assessing the risks of material misstatement and what audit procedures should be implemented. Analytics are performed during audit fieldwork as part of the ...
- January 12, 2019
In 1991, the AICPA issued an audit and accounting guide, "Common Interest Realty Associations," which addressed accounting issues that are unique to community associations. In 2009, the accounting guidance previously included in the audit and accounting guide for community associations was codified in FASB ASC 972. As a ...
- January 11, 2019
"Common interest realty associations" is the term that is used in FASB ASC 972, "Real Estate--Common Interest Realty Association." This term is used to describe condominium associations, homeowners' associations, cooperative housing corporations, and other forms of common interest ownership developments that share certain characteristics: (1) separate legal entity under ...
- January 10, 2019
If your Association has common property that requires periodic replacement or major repairs, then your Association should have a reserve study every 5 years, at a minimum. The preparation of an annual operating budget should be informed by an up-to-date reserve study.
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Canady & Canady
4707 Ingersoll Street, Houston, Texas 77027, United States
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