RPA - Budgeting and Accounting
This course is in-person
May 2-3 and 9-10, 2024 from 9am-5pm each day
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
Key topic areas:
• record-keeping requirements • revenue and expenditure cycles • cash basis income statement • financial statements • annual reports • lease abstracts • income and expense budgeting • working with capital
Applies to:
PAC and PMFP certificates
RPA® designation
Important Notes
- BOMI is going green - all courses include an e-book. if you want a printed book, there is an additional fee
- New students enrolling in the designation incur an additional $225 fee
- Current designation holders enrolling in a second designation program incur an additional $100 fee
- Students taking this course for CPD credit incur an additional charge of $100
Instructor
Karen M. Stiansen, CPM®, CCIM, MCR, RPA, FMA, LEED AP
Senior General Manager
Karen Stiansen has a Master of Science degree in Organizational Effectiveness from Marymount University. Karen is currently a Senior General Manager with JLL. Prior to his position, she was with Thalhimer joining the company in May 2017 as a Vice President, Property Services leading the Hampton Roads Market. Karen has over 25 years’ experience. She has been an active member for The Institute of Real Estate Management (IREM) serving on the Student/Academic Outreach advisory board and is a national instructor for BOMI International as well as an instructor for Apartment and Owner’s Management Association (AOBA) in Washington, DC. Her education and experience with her desire to provide the highest level of property management services help to add value to properties managed by Karen.
Awards and Activities
• Student Outreach and Academic Advisory Board, IREM, 2014-present
• National Instructor , BOMI International, 2011-present
• Instructor, AOBA, 2011 – present
• Instructor of the Month, BOMI International, October, 2014
• Instructor of the Month, BOMI International, March, 2015
Education
• Marymount University, M.S. in Management of Organizational Effectiveness, 1995.
• Georgia State University, B.B.A. in Business Administration, 1984.
• Certified Property Manager (CPM) Designation
• Certified Commercial Investment Member (CCIM) Designation
• Master of Corporate Real Estate (MCR) Designation
• Real Property Administrator (RPA) Designation
• Facilities Management Administrator (FMA) Designation
• Green Building Certification Institute (LEED AP)
For More Information:
