103 - Budget, Audit & Financial Statement Fundamentals

The oversight and approval of the finances of the corporation is one of the most important of a director’s responsibilities. They must ensure there is sufficient funds available to run the operations of the corporation and to carry out major repairs and replacements to the common elements. An annual budgeting and monitoring process is important for ensuring sufficient funds are raised and that spending is controlled. This module is essential in understanding how to control expenditures, safeguarding assets, maintaining reliable records, and providing meaningful financial statements to owners.

About the course 

In this module, the participant will be introduced to development of an annual budget; planning the process to ensure timely completion; reviewing monthly financial statements; the annual audit process.