Orlando-based Averett Warmus Durkee Osburn Henning, CPAs presented findings from research project comparing data of approximately 100 Florida timeshare/vacation ownership resort homeowner associations over a seven year period.
Orlando, FL (November 12, 2010) -– Public accountants Averett Warmus Durkee Osburn Henning, CPAs, a firm involved in providing accounting and auditing services to timeshare/vacation ownership companies, homeowner associations and others, announced they have recently presented results of an extensive research project surveying data accumulated from approximately 100 Florida timeshare resort homeowner associations (HOAs) and covering seven years of historical information. Accounting and Audit Managers Ray D. Bastin, CPA and Randall Wilson, CPA, CFE, and CVA gave a presentation of the unique study before a session held during the November 4-5, 2010 Common Interest Realty Associations (CIRA) Conference, held in Orlando, Florida. AWDOH’s “Financial Trending and Benchmarking of Florida Timeshares” is believed to be the first such project of this type to have such a broad scope and to review data accumulated over seven years.
An in-depth analysis of information from the resorts’ financial audits was performed, noting changes in key financial indicators, a review of current financial statement trends and a discussion of future potential issues. The AWDOH team created and populated a database with extensive financial and operational information drawn from 2003, 2006 and 2009 audits and factored in other variables, such as developer or management company support. Because the HOAs were strategically selected according to their geographic location, scope and size, the team was able to build a database that would provide key financial indicators to show financial trends and the overall state of the industry.
The firm plans to continue to track the HOAs used in this model in the future to produce trending and benchmarking on an annual basis. For more information about the project, contact Tom Durkee (firstname.lastname@example.org) or Lena Combs (email@example.com) at 407-849-1569.
About Averett Warmus Durkee Osburn Henning CPAs
Averett Warmus Durkee Osburn Henning (AWDOH) provides timeshare/vacation ownership companies and other clients with assurance, accounting and tax compliance services. As the largest, independent CPA firm in Central Florida, AWDOH (www.awdoh-cpa.com) provides consulting services to clients for business acquisitions and disposition, including recruiting and training their employees, and advising clients on ways to improve their internal processes while providing them with relevant information needed to make timely, critical decisions. For further information about AWDOH’s timeshare department, contact Tom Durkee (firstname.lastname@example.org) or Lena Combs (email@example.com) at 407-849-1569.
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