The accountant is a vital part of the association’s professional team. A staff member may take care of the bookkeeping for the association and a CPA is needed to conduct an audit at the end of the year. In addition, the accountant may:
- Reviews financial data, answers financial questions and provides financial advice
- Participates in reserve studies and advises on reserve funding strategies
- Assists with budget preparation and long-term financial planning
- Develops accounting policies and procedures and recommends internal controls
- Prepares monthly or quarterly financial statements
- Educates board or committee members on financial matters
- Makes presentations at meetings
- Prepares association tax returns
- Helps obtain financing
The association accountant is a valuable partner who works closely with the manager and the board to ensure your assessments are managed and invested wisely and legally.
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