A balance sheet is a financial statement that lists assets, liabilities and owners’ equity, at a specific point-in-time.
For a strata corporation, the balance sheet presents accrued numbers and total numbers.
Reserve fund planning focuses on and analyses the end of fiscal-year month numbers.
A best-practice depreciation report writer will review condo | strata corporation balance sheets, and reserve fund consolidation sheets, for the reserve fund over several years to review the cashflow nature of entries.
This is the only way to determine if special levies and annual insurance premiums have been erroneously included in the reserve fund totals.