FINCCDM03 - Financial Planning For Condominium Managers

Course Description

IMPORTANT: Responsibility for condominium licensing education has transferred from ACMO to the CMRAO. This course is no longer offered by Mohawk College. For more information on the new CMRAO program, visit CMRAO. For more information on ACMO and benefits of membership as well as information regarding RCM certification visit ACMO.  

Examine the financial management of condominium corporations. Topics covered include: the accounting process, financial administration, General Ledger and coding, Financial Statements (FS), presenting FS to the Board, understanding and preparing budgets, Reserve Funds, the Audit, investing and borrowing. Knowledge of Microsoft Excel and Word is required. As of November 1, 2017, this is one of the four courses which are the educational requirements for a general license under the Condominium Management Services Act. This Act requires all condominium managers and providers in Ontario to be licensed. For more information on licensing, contact the Condominium Management Regulatory Authority of Ontario (CMRAO) at www.cmrao.ca. This is also one of the four courses which is compulsory for those managers who wish to write the Association of Condominium Managers of Ontario’s RCM exam. For more information on the RCM, contact ACMO at www.acmo.org.