MGC103 - Financial Planning Condominium Management

Outline info
Semester
School
Last revision date 2017-11-13 13:20:29.069
Last review date 2017-11-13 13:20:29.071


Subject Title
Financial Planning Condominium Management

Subject Description
MGC103 is designed to provide a thorough understanding of the financial management of condominium corporations. Topics covered include: the accounting process, financial administration, General Ledger and coding, Financial Statements, presenting FS to the Board, understanding and preparing budgets, Reserve Funds, the Audit, investing and borrowing. Knowledge of Excel and Word required.

Credit Status
1 Credit.

Essential Employability Skills
Communicate clearly, concisely and correctly in the written, spoken and visual form that fulfils the purpose and meets the needs of the audience.

Respond to written, spoken, or visual messages in a manner that ensures effective communication.

Execute mathematical operations accurately.

Use a variety of thinking skills to anticipate and solve problems.

Locate, select, organize, and document information using appropriate technology and information systems.

Analyze, evaluate, and apply relevant information from a variety of sources.

Show respect for diverse opinions, values, belief systems, and contributions of others.

Interact with others in groups or teams in ways that contribute to effective working relationships and the achievement of goals.

Manage the use of time and other resources to complete projects.

Cheating and Plagiarism
Each student should be aware of the College's policy regarding Cheating and Plagiarism. Seneca's Academic Policy will be strictly enforced.

To support academic honesty at Seneca College, all work submitted by students may be reviewed for authenticity and originality, utilizing software tools and third party services. Please visit the Academic Honesty site on http://library.senecacollege.ca for further information regarding cheating and plagiarism policies and procedures.

Discrimination/Harassment
All students and employees have the right to study and work in an environment that is free from discrimination and/or harassment. Language or activities that defeat this objective violate the College Policy on Discrimination/Harassment and shall not be tolerated. Information and assistance are available from the Student Conduct Office at student.conduct@senecacollege.ca.

Accommodation for Students with Disabilities
The College will provide reasonable accommodation to students with disabilities in order to promote academic success. If you require accommodation, contact the Counselling and Disabilities Services Office at ext. 22900 to initiate the process for documenting, assessing and implementing your individual accommodation needs.

Prerequisite(s)
None.

Topic Outline

  1. ACMO and the Condominium Industry
  2. Condominium documentation and the Property Manager's authority
  3. Structure of condominiums and reciprocal agreements
  4. Negotiating when sister corporations or shared facilities are managed by different managing agents
  5. The need for proper financial reporting
  6. Differences between residential and commercial condominiums with respect to financial management
  7. The Property Manager's financial responsibilities
  8. Structure of condominium management companies' accounting divisions
  9. Condominiums and taxation

Mode of Instruction

Online
This subject is delivered online. This may involve the use of digital materials and/or a text, group discussions, interaction with your instructor and online activities.
 

Prescribed Texts

Please purchase textbooks online at http://mohawk.bookware3000.ca, and follow the following steps:
 
  1. Click Order Textbooks Online
  2. Select a Campus – Dist. Education On-Line Store
  3. Select the Current Term 
  4. Courses are listed by MO course code - FINCCDM03 Financial Planning for Condominium Managers

Promotion Policy

Grading Policy
A+ 90%  to  100%
A 80%  to  89%
B+ 75%  to  79%
B 70%  to  74%
C+ 65%  to  69%
C 60%  to  64%
D+ 55%  to  59%
D 50%  to  54%
F 0%    to  49% (Not a Pass)
OR
EXC Excellent
SAT Satisfactory
UNSAT Unsatisfactory

For further information, see a copy of the Academic Policy, available online (http://www.senecacollege.ca/academic-policy) or at Seneca's Registrar's Offices.


Modes of Evaluation

Assignments are due on the dates specified. Should extenuating circumstances arise, please contact your instructor immediately, prior to when your assignment is due, so an appropriate course of action can be established. Late assignments may be subject to a penalty of up to 10% per week and will not generally be accepted beyond two weeks after the assignment due date.

In cases of cheating or plagiarism, the College Academic Policy will prevail.  Please ensure that all assignments and reports are properly documented.

Students are referred to the following web site for the Seneca College Library MLA Style Guides, Academic Honesty Policy and Copyright guidelines:  

http:/senecacollege.ca/library

Dates for evaluations are specified in the weekly schedule addendum to this outline. The evaluation process may include, but is not limited to, tests, exams, assignments or presentations. Any absences or missed submissions due to medical or other reasons must be supported by medical or other appropriate documentation within one (1) week of the due date. The faculty and program area must be notified immediately in the even of a missed evaluation. Upon acceptance of the documentation, the weighting of the missed deliverable will normally be applied to the final exam.

English Competency:

The ability to communicate effectively is essential for success in business. Therefore, you must demonstrate English competency in this course in both oral and written work. Ensure your written work includes correct sentence structure, spelling and punctuation. Always spell check, edit and proofread your work.

Grading is based on the following marking scheme: 

Quizzes 10%
Project 20%
Final Exam 70%

The passing grade for this course is 60%, provided that students also achieve a passing grade of 51% on the final exam.

Academic Program Manager:
Emiliano Introcaso

Approved by: Academic Program Manager Emiliano Introcaso