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Exposure Drafts, Comment Letters, and Statements of Position
Etc. -- Auditing -- Standards; Real property -- United States -- Auditing -- Standards
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Proposed Audit And Accounting Guide : Common Interest Realty Associations ;Common Interest Realty Associations; Exposure Draft (American Institute Of Certified Public Accountants), 1988, Aug. 31, American Institute Of Certified Public Accountants. Task Force On Accounting For Common Interest Realty Associations
Proposed Audit And Accounting Guide : Common Interest Realty Associations ;Common Interest Realty Associations; Exposure Draft (American Institute Of Certified Public Accountants), 1988, Aug. 31, American Institute Of Certified Public Accountants. Task Force On Accounting For Common Interest Realty Associations
Exposure Drafts, Comment Letters, and Statements of Position
This proposed audit and accounting guide provides guidance on the following matters: 1. Accounting recognition of common property and facilities. Questions arise as to whether the common property in a condominium or planned unit development (PUD) and improvements on such property should be reported in a CIRA's financial statements. This proposed guide provides guidance on the recognition of assets maintained or owned by a CIRA. Questions relating to the accounting treatment of recognized assets, the effect of the manner in which the assets were acquired, and depreciation policies are discussed. 2. Major repairs and replacements. A fundamental issue affecting a …