CPA firm Partner Lena Combs’ two-part series in Developments magazine addressed to timeshare homeowners’ associations (HOAs).
Orlando, FL (August 17, 2012) — Central Florida’s largest independent accounting firm, Averett Warmus Durkee Osburn Henning CPAs (AWDOH), says that Partner Lena Combs, CPA’s two-part series on HOA fiscal control has appeared in the July and September issues ofDevelopments magazine. (The magazine is published by the timeshare industry’s trade association, the American Resort Development Association [ARDA].) The articles provide specific advice to board members, advising them as to what they should look for when reviewing their resort’s financial statements.
In the first article of the series, she encourages them to look for historical trends, such as the funding of reserves, collections and delinquencies. Among other items, she lists ways to evaluate the resort’s management with regards to its capabilities in handling the finances. The article addresses items that should be discussed using a year-end annual financial statement model, and mentions the top items that are important to look for when reviewing those statements.
Combs observes that the review process to many may seem overwhelming. “But with the help of professionals and some historical financial information, the process can be very informative,” she says. “It can provide better management tools for the board and it can start the association heading in a positive financial direction.”
The article in the July 2012 issue can be reviewed online on page 32 at the following web site:
About Averett Warmus Durkee Osburn Henning CPAs (AWDOH)
AWDOH (www.awdoh-cpa.com) provides accounting, auditing and tax services and also consults with clients including timeshare/vacation ownership companies, owners associations and others. The firm is known for giving astute, highly individualized advice on various matters such as business acquisition and/or disposition 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 ([email protected]) or Lena Combs ([email protected]) at 407-849-1569.