Knowing how to quickly read (and understand) the meaning of monthly property-level financial statements is critical to good decision-making. By learning to read an operating statement the way the pros read them – from "the bottom up" – you'll be able to zero in on the numbers that matter.
In this webinar, NCHM's Paul Votto takes the mystery out of accounting reports and put them into plain English that even the most inexperienced staff person can understand.
What you'll learn:
The difference between an income statement and a balance sheet – and the numbers that matter on each
The basic structure of an income statement, including major income and expense categories
Key concepts in multifamily accounting, such as gross potential rental income, loss to lease, net operating income, and non-cash transactions
How to use "variance" information to identify problem areas
How to spot trends and find the meaning behind the numbers