Budgeting & Accounting

NEW EDITION: 2023

The Budgeting and Accounting course updates reflect the latest industry practices and standards. Innovative microlessons that focus on practical applications provide real-world insights and strategies you can implement immediately. You’ll learn the skills to effectively analyze financial statements, create budgets, manage and address budget variations, prepare rent rolls, and how to attract and retain high-quality tenants using tenant profiles. In addition, you’ll find a specialized module on CAM reconciliations.

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Learning Objectives

Upon successful completion of this course, learners will be able to:

  • Identify potential opportunities for increasing a property’s net operating income
  • Determine recoverable and nonrecoverable operating expenses
  • Establish cost controls
  • Prioritize capital expenditures
  • Explain budget variances to stakeholders
  • Follow best practices in tenant communications
  • Analyze and interpret financial statements of prospective tenants

Major Topics Covered

  • Record-keeping requirements
  • Revenue and expenditure cycles
  • Cash basis income statements
  • Financial statements
  • Annual reports
  • Lease abstracts
  • Income and expense budgeting
  • Working with capital

Table of Contents

  • The Fundamentals of Budgeting and Accounting
  • Reporting and Record Keeping: The Foundation for Efficient Operations
  • The Lease Document: A Field Guide to Tenant/Landlord Interactions
  • Income Sources
  • Recording the Revenue
  • How to Develop an Income Budget
  • The Expenditure Cycle
  • Cost Controls: Protecting the Building Owner’s Investment
  • Expense Budgeting
  • Capital Budgeting
  • The Cash Basis Income Statement
  • Financial Statements: The Whole Picture of the Property
  • Analyzing Real Estate Financial Statements
  • Interpreting Tenant Financial Statements and Annual Reports
  • Case Study: Budgeting and Accounting at CityPark Business Tower
deliverymethods

This course is available through the following delivery options:

  • Online Self-Paced
  • Collaborative Virtual Learning
certifications

This course applies to the following BOMI certificates:

  • PMFP – Property Management Financial Proficiency Certificate
  • PAC – Property Administrator Certificate
desingations

This course applies to the following BOMI designation:

  • RPA® – Real Property Administrator