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Condominium Corporations
INTRODUCTION & ADMINISTRATION
Introduction to Condominium Corporations (Ontario) - Not-for-Profit Organizations (6:18)
Administration and housekeeping - Certificates - Refund Policy - Emails (6:25)
COURSE DOWNLOADS - Download the course presentation and PDF files of notes
M1 - INTRODUCTION AND FUNDAMENTALS OF A CONDOMINIUM CORPORATION
What is a condominium corporation - What are the advantages and disadvantages of living in one (11:01)
A look at some financial aspects of condominium ownership (11:24)
Important definitions and roles and duties of the Board of Directors (10:27)
Condo corporation requirements and obligations - Annual and ongoing (9:42)
A brief look at the financial statements of Condominium corporations (3:24)
M2 - ACCOUNTING FOR CONDOMINIUM CORPORATIONS & FINANCIAL STATEMENTS
Accounting considerations for condo corporations - Financial statements (8:01)
An overview of the asset accounts and accounting (9:49)
An overview of the liability accounts of condo corporations (5:22)
A closer look at the Reserve fund and accounting - classifying transactions (11:18)
Some sample financial statements including CPA sample financials (11:37)
M3 - OVERVIEW OF AUDITING GUIDELINES & CONSIDERATIONS
A detailed overview of auditing requirements for condominium corporation (8:15)
Overview of auditing guidelines and considerations for condo corporations (6:25)
Reservations in the auditors reports - Sample reservation disclosures (6:26)
The most common audit risks for condominium corporation audits (7:30)
M4 - RESERVE FUND STUDIES & THEIR IMPORTANCE TON CONDOMINIUM CORPORATIONS
Who are permitted to do the Reserve Fund Study and what information is provided (5:02)
A closer look at Reserve Fund Studies and their importance to condominium corporations (6:38)
The process to complete a reserve fund study and the different classes available (5:12)
What does the reserve fund study contain and how should it be used (9:09)
Example of a reserve fund study and financial analysis (10:43)
Contribution options available to unit owners to fund reserve & meet RFS targets (9:14)
M5 - TAX FILING OBLIGATIONS FOR CONDOMINIUM CORPORATIONS
CRA activity in the area of condominium corporations to test NPO status (6:28)
Tax filing obligations for Condominium Corporations as Not-for-Profit Organizations (8:12)
Annual filing requirements for condominium corporations (8:04)
GST/HST Registration and filing for condominium corporations (3:24)
CRA IT Bulletins on commercial condominiums and NPO status - What if it is a non-NPO? (6:00)
CRA IT Bulletins providing guidance on activities not considered NPO exempt status (8:13)
M6 - OTHER IMPORTANT DOCUMENTS & CONDO CORPORATION ISSUES
Other important matters and condo corporation documents to be aware of (2:55)
Status certificates and their importance in Condo management (4:11)
Examples of a status certificate and breakdown of what's included (6:33)
Other documents provided to new and potential owners regarding condo corporations (3:15)
What is a turnover meeting and why is it so important (3:20)
Being aware of limitations for financial statements audits and fraud (7:03)
CONCLUSION
Course Conclusions - Thank you and testimonials, suggestions & downloading certificates (1:16)
CRA activity in the area of condominium corporations to test NPO status
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