In Florida, How is the accounting done In Florida? I read our condo association’s monthly financial reports, and in the column at the top it stated Actual. Therefore I naturally figured all amounts were to be true. Income from Condo owners, all expenses paid out, and so on. But when I checked other records to confirm the figures, I found the so called actual figures to be wrong and not actual at all. When I question the property manager, he tells me that I have to understand that here in Florida all accountants must use the Accrual method because Chapter 718 demands that all accountants use the accrual method for all condo associations. Can someone tell me what they are talking about? Why send out a report if you can put in any figures or whatever you want in the reports? I have dealt with accountants in 5 states in the U.S.A., and in 3 foreign countries. This one got me confused, maybe it’s time to go back to school? Confused
