ABOUT US
The inspiration behind our organization is rooted in limited financial information, secrecy, discovery of improprieties, collusion, and deplorable unethical actions. These actions created a sense of urgency to become more educated about condos and HOAs, spurring more service and dedication to the Board and fellow owners. I earned a doctorate in accounting as well as passing the Florida exam for Community Association Managers (License 62702).
There have been many lessons learned. Association Accounting by Dr. Mike & Associates is the cumulative response to our past negative experiences. Our firm is based on financial transparency, accountability, and strong ethical values. Dr. Mike was a CFO (chief financial officer) of a company that collected $5 million per week with five manufacturing plants, employing 1,000 people for 18 years. Dr. Mike also worked for a Big 4 Accounting firm as an Audit Manager. Dr. Mike also enjoys teaching accounting at the local college for 10 semesters.
ASSOCIATION ACCOUNTING
Dr. Mike’s CFO Approach/Method
Answer these questions EVERY month
1) What is the financial performance of the top 10 expenses? (The top 10 expenses, typically, represent 90% of the annual budget.
2) Add the actual expenses to the future budget expenses and calculate year-end ramifications (over or under budget) and why?
3)Identify and highlight on-going versus single event situations.
4)What are the threats to liquidity (ability to pay bills when due)? For example, AR arrears, progress payments on projects, insurance downpayments, and debt service.
5)Provide a written narrative of the financial situation along with traditional financial statements.
What Gets Measured, Gets Managed
(Peter Drucker)
Without Focused Measurement, Condos/HOAs Manage Without Direction
(Dr. Mike)
Singular Focus on Condo/HOA Accounting
Experience – Board Member (Treasurer and President), LCAM, CFO, Big 4 audit manager, College accounting Instructor, IT director
Technology Savvy – Electronic commerce