What is a membership fee?

What is a membership fee?

Membership fees or dues means payments to an organization on behalf of a program or individual to be a member thereof, or to acquire voting or participatory rights therein.

Why is GAAP relevant to HOAS?

The advantage of GAAP is that it gives an accurate picture of the state of the HOA and all its transactions at any given time. This is because transactions are recorded at the time they occur and therefore the books are always up to date.

What is condo accounting?

The basics. While condo accounting is a complex and intricate process, you can break it down into three major parts; collecting funds, paying expenses and managing finances. Collecting funds. Collecting funds is arguably the most important accounting task.

Which accounting method do most community association boards use to manage financial matters?

Cash Basis – This is the most common accounting method.

What is included in audited financial statements?

An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.

What can a landlord offset against tax?

Your rental income can also offset any costs deemed essential for landlord duties, helping reduce your tax liability. Examples of allowable expenses include: Any letting agents' fees and accountant's fees. Legal fees for a year or less or for renewing a lease for less than 50 years.

Can I claim a new bathroom on a rental property?

You can claim for renewing broken fixtures such as baths, showers, sinks and toilets. These are classed as repairs to the building, but they must be like-for-like replacements.

Is a Creative Commons license free?

CC offers its licenses, code, and tools to the public free of charge, without obligation.

What does ND license mean?

The Creative Commons Attribution–NonDerivative License (CC BY-ND) is one of the licenses created by the Creative Commons project. A work licensed in this way allows the following: 1. The freedom to use and perform the work. The licensee must be allowed to make any use, private or public, of the work.

Can I sell CC0?

"All photos published on Unsplash are licensed under Creative Commons Zero which means you can copy, modify, distribute and use the photos for free, including commercial purposes, without asking permission from or providing attribution to the photographer or Unsplash."