Tennis Court Equipment

tennis court equipment

Homeowners Association, non-profit corporate financial Stm. Anyone know why they only include CASH for ASSETS?

The homeowners association, nonprofit financial statements in Pennsylvania neglect to include land, buildings, furniture, improvements, swimming pool, tennis courts & equipment. They only include cash!
I have never seen the AICPA allow a nonprofit to not account for assets.
This means that anyone can help themselves to the assets because no one is watching.
ANY CPA’S out there who want to comment?

They are probably expensing all of that stuff incorrectly.

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