A 6-hour interactive discussion forum addressing best practice for service charge accounting.
Content
[NOTE: This forum is not designed to teach book-keeping and is not suitable for relatively inexperienced accounts staff or property managers.]
What you will get out of it:
- Understand the difference between corporate and service charge accounting
- Gain an overview of corporate accounts: RMCs, dormant companies, legal requirements, etc.
- Learn best practice for service charge accounting from budget to year end
- Find out about the management of receipts and payments
- Explore the procedures for the accurate allocation of costs
- Learn about the production of accounts under lease and legal requirements
- Explaining service charge accounts – accruals, prepayments, balance sheet
- Understand reserve fund expenditure
- Find out how to treat year end surpluses and deficits
- Learn about the chain of responsibility including who signs off the accounts
- Appreciate the benefits of adopting new articles for RMC’s
- Understand taxation issues in connection with RMC’s and with service charge accounts/income
- Get the opportunity to discuss common problems encountered in presenting accounts to clients and leaseholders
Audience
Who should attend:
- Accounts staff who need to understand the requirements of lease and law in the production of accounts
- Property managers whose input is required during the service charge year from their clients
- It may also be suitable for senior managers who are responsible for the corporate strategy within their accounts department
