{"id":19044,"date":"2024-06-26T14:07:23","date_gmt":"2024-06-26T14:07:23","guid":{"rendered":"https:\/\/adda.io\/blog\/?p=19044"},"modified":"2024-06-27T10:41:38","modified_gmt":"2024-06-27T10:41:38","slug":"community-accounting-best-practices","status":"publish","type":"post","link":"https:\/\/adda.io\/blog\/2024\/06\/community-accounting-best-practices\/","title":{"rendered":"Apartment Audit Jitters? Here’s How to Conquer Them! Summary of Mrs. Radha Tunge’s session – #AccountingAMAWebinar\u00a0"},"content":{"rendered":"\n
\"Community<\/figure>\n\n\n\n

As a part of the Accounting Ask Me Anything webinar<\/a> held by ADDA<\/a>, on 18th May, 2024, Mrs. Radha Tunge demystified the Audit process for communities, and gave tips and tricks to manage Auditing easily.<\/p>\n\n\n\n

Radha Tunge<\/strong> Ma\u2019am specializes in auditing Cooperative Housing Societies in the cities like Pune, Jalna, Kalyan, and Dombivali. Every year she audits on an average 200-300 housing societies.<\/strong> She has been awarded as the Best Auditor by the Auditors Council and Welfare Association.<\/p>\n\n\n\n

The session started with an overview of the auditor\u2019s scope of work. Mrs. Tunge went onto explain the various aspects of the auditors work starting from verifying the financial statement, to verifying transactions recorded in the system to compliance with legal requirements, and much more.<\/p>\n\n\n\n

Download the detailed slides of the session from here<\/strong><\/p>\n\n\n

\n
\"Download\"<\/a><\/figure>\n<\/div>\n\n\n

She went on to explain the different things which would be audited, the parties who are usually involved in the audit process. She went on to explaining the Community<\/strong> Accounting best practices <\/strong>which when kept in mind, and followed, make the audit process a breeze rather than a nightmare, which such processes often becomes.<\/p>\n\n\n\n

While giving tips on how to prepare the Association for a successful audit, among many other tips, she also mentioned that,<\/p>\n\n\n\n

\n

\u201cIt is best to start the audit preparation around May-June, so that as an Association you are prepared for the closing of Society Accounts well within stipulated time.\u201c<\/em><\/p>\n<\/blockquote>\n\n\n\n

In conclusion, she pointed out the recurring mistakes in residential communities that make the auditing process exceptionally challenging.<\/p>\n\n\n

\n
\"ADDA<\/figure>\n<\/div>\n\n\n

Download the detailed slides of the session from here<\/strong><\/p>\n\n\n

\n
\"Download\"<\/a><\/figure>\n<\/div>\n\n\n

Every year more than 3,500 communities get their books of accounts audited through ADDA<\/strong>. <\/em><\/p>\n\n\n\n

Get your community onboarded on ADDA today, and make your Community\u2019s accounting process a breeze. Contact us now!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As a part of the Accounting Ask Me Anything webinar held by ADDA, on 18th May, 2024, Mrs. Radha Tunge demystified the Audit process for communities, and gave tips and…<\/p>\n","protected":false},"author":3,"featured_media":19062,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[141,2024,2019],"tags":[],"class_list":["post-19044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-adda-buzz","category-adda-community-accounting","category-adda-india-housing-society-apartment-management"],"_links":{"self":[{"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/posts\/19044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/comments?post=19044"}],"version-history":[{"count":12,"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/posts\/19044\/revisions"}],"predecessor-version":[{"id":19180,"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/posts\/19044\/revisions\/19180"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/media\/19062"}],"wp:attachment":[{"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/media?parent=19044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/categories?post=19044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/adda.io\/blog\/wp-json\/wp\/v2\/tags?post=19044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}