TC44: INTRODUCTION TO ACCOUNTING FOR SERVICE CHARGES, ARMA TRAINING
Training - Suspended
01 April 2020

 

TC44: INTRODUCTION TO ACCOUNTING FOR SERVICE CHARGES

SUSPENSION OF ARMA TRAINING FOR MARCH AND APRIL 2020

After careful monitoring of the development and the spread of Covid-19 taking into account the health and safety of our members and employee’s, we at ARMA have taken the decision to suspend all training courses with immediate effect until the end of April 2020.

For those who have booked places to attend our training courses we will refund payment back to the card used at the time of booking.

New courses dates for all our training courses will be arranged in due course, and we will circulate these by the usual means which does mean that you will need to re-book to attend the training courses.

I am sure that you will also support us in this difficult decision that we at ARMA needed to prioritise the health and safety of all and minimise the spread of the virus.

Please accept our sincere apologies for any inconvenience this may cause

Should you have any further queries please contact us at training@arma.org.uk

Date:

Time:

 

Address:

Manchester - M3 2EQ

 

Description

 

A one-day interactive course walking through the financial year of a property. This course is aimed at individuals with less than 18 months experience in the industry.

 

Content

What the course covers:

• Understanding the difference between the management agreement and the lease in the context of financial management

• Understand the difference between corporate and service charge accounting

• Key pieces of legislation to be aware of

• How to ensure you set a site up in accordance with the lease from the start of the management

• Best practice for setting a budget

• Billing and collection requirements

• Handling lessee’s money

• Appointment of contractors and placing of contracts

• Processing of invoices and common mistakes to consider

• Use of reserve funds and benefit of long-term maintenance plans

• Periodic client reporting: budget v actuals and cashflows

• Production and understanding of service charge accounts

• Being prepared for accounts discussions with clients

• Leaseholders rights to financial information

• Treatment of surplus/deficits

 

Audience

Accounts staff who are new to the role/the industry and need an understanding of what is required from them.

 

Property managers and assistants who are new to the role and will be required to work with clients in a financial capacity i.e. budget setting and reviewing service charge accounts.

 

This course would also be suitable for those in lettings moving into residential leasehold management.

 

NOTE: This course is not designed to teach book-keeping.