Condominium Corporations

VERIFIABLE CPD HOURS FOR CPA's - 4.0 HOURS

Tap into the realm of Not-for-Profit organizations here at Canadian Tax Academy with this course on Condominium Corporations (Ontario). With Canada’s unprecedented population growth, it is no wonder that condo living and ownership have become a popular and cost-effective option for many, As a result, this is becoming a growing niche area for many accountants and bookkeepers.

Get in on the ground floor and learn the fundamentals of Condominium Corporations. This course is crafted to cater to those looking to understand the in’s and out’s of this form of ownership. It is also very useful to individuals living in condominiums who seek a deep understanding of the financial, managerial, and legal aspects of condominium corporations.

Who Should Enroll:

1. Accountants looking to specialize - Consider the lucrative opportunities in condominium accounting and management, an expanding field with high demand for specialized expertise.

1. Bookkeepers seeking niche markets - Unlock opportunities to serve condominium corporations as a specialized service provider, expanding your client base and business revenue.
2. Condominium residents eager for in-depth knowledge - For residents, gain the knowledge needed to actively participate in the management of your condominium, ensuring financial transparency and community well-being.

This course provides you with 4.0 hours of verifiable CPD hours for CPA professional development obligations. It is delivered in 6 modules covering the following critical topics in this area:

Course Syllabus:

• What is a condominium corporation and what are the advantages and disadvantages of living in one?

• Accounting policies for condo corporations with an overview of the asset and liability accounts you’ll see on financial statements and what they mean (NFP accounting and reporting)

• The Roles and duties of the Board of Directors along with Condo Corporation requirements and obligations that must be maintained

• Overview of financial statements including auditing guidelines and considerations

• The role of reserve fund studies in condominium corporation management and finances including contribution options for funding reserves

• Tax filing obligations for condominium corporations including the T2 return and T1044 NPO filing requirements. Also covers CRA activity in the area of condominium corporations

• Status certificates and their significance in property management

• Turnover meetings and fraud awareness

Take this opportunity to stand out in your field, broaden your expertise, and enhance your career or business. Enroll today and be a leader in the growing world of condominium accounting and management.

NOTE: This course deals with Ontario’s Condominium Corporations legislation and requirements. However, all other Provinces are similar and tax/accounting reporting and requirements are equivalent across all the provinces.

For a detailed listing of the tutorials available in this course, scroll down to the curriculum section. Don’t forget to click the little down arrow to expand the box to see all of the tutorials.