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Monthly Accountants Tech Talk: Accounting for Community Living

CPD Hours: 3

Price: R699.00


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Title / Topic

Monthly Accountants Tech Talk: Accounting for Community Living


Overview   

Community living includes homeowners' associations, share blocks and bodies corporate. Accounting and dealing with the administrative requirements that apply to these living arrangements can be quite challenging especially if not adequately addressed upfront. 

The Sectional Title Schemes Management Act 8 of 2011 is the piece of legislation that directs how bodies corporate should be managed. As can be expected, the preparation of annual financial statements for these bodies is a specialised area of focus that requires accounting practitioners to have a good understanding of the Act as well as related Management Rules.   


 Learning objectives and competencies developed 

By attending this webinar you will develop the following competencies:  

  • Knowledge of all the types of community living that are subject to the Community Schemes Services Ombudsman. 

  • Understanding of the Sectional Title Schemes Management Act 8 of 2011. 

  • Understanding of the Management Rules as prescribed by the Act. 

  • Knowledge of what to consider when drafting financial statements for bodies that fall under this Act.  

  • Understanding the jurisdiction of the Companies Act in this regard. 


Content 

The webinar will cover the following topics:  

  • Overview of the Sectional Title Schemes Management Act 8 of 2011. 

  • The role of the Community Schemes Services Ombudsman. 

  • Prescribed Management Rules. 

  • Drafting financials for bodies corporate - Hot tips. 

  • Jurisdiction of the Companies Act. 

  • Auditing requirements. 

  • Summary. 

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