Finance 101 for PMs

*NOTE: Date/time are tentative and subject to change. 

This session would address the nationwide challenge that many PMs/FMs lack foundational commercial real estate accounting knowledge, and it should provide practical training on the accrual process, financial terminology, variance reporting, and interpreting financial statements. Content could be pulled from the Foundations of Real Estate's "Accounting, Reporting, and Budgeting" section. 

The session should also teach PMs/FMs how to write a clear, defensible variance analysis, a critical skill for communicating financial performance to owners and operators. Developers should also evaluate relevant BOMI short courses that may complement or reinforce this training. Key focuses include strengthening PM/FM financial literacy, improving operational decision‑making, and elevating the financial competency required to manage CRE assets effectively.

Content Categories (high level) Topics: 

• Overview of various elements involved at the property management level: 
  • Why it’s important to you as a Property Manager
  • What client needs 
    • Good budgeting/accurate budgets 
    • Timely and accurate reporting
  • Revenue: Billing and collecting rents 
  • Operating Expenses: Controlling and managing expenses 
  • Capital: Proper accounting principles - Understanding financial statements, and creating meaningful variance reports
  • Financial Statements: 
    • Cash vs. Accrual
    • Balance sheets and P&Ls
    • Variance reports