Budgeting and Accounting

Budgeting and Accounting is designed to enable you to prepare your own building or facilities budget. You will have an opportunity to apply concepts within the real property and facilities context.

Key to accounting is the fundamental accounting equation and the double-entry accounting technique. Activities in this course will guide you through both these concepts. You will also learn about preparing income and expense budgets and explaining budget variances. Case examples involving this buildings’ tenants, budgeting processes, and leasing requirements provide realistic illustrations of the types of scenarios encountered in day-to-day operations of commercial real estate properties.

Upon successful completion of this course, learners will be able to:

• Identify potential opportunities for increasing a property’s net operating income
• Determine recoverable and nonrecoverable operating expenses
• Establish cost controls
• Prioritize capital expenditures
• Explain budget variances to stakeholders
• Follow best practices in tenant communications
• Analyze and interpret financial statements of prospective tenants