A 5-year forecast
is an educated projection of your company’s financial performance over the next five years. It specifically details projected revenues, costs, expenses, cash flows (including any projected capital raises), and owner equity, as well as projecting sales growth and margins.
What is a forecast of income and expenses that can be projected over five years quizlet?
A stabilized budget
is: A. budget that forecasts income/expense and can br projected over a short period of time (usually 5 years).
What is a forecast of income and expenses quizlet?
A stabilized budget
is. a budget which forecasts income and expenses that can be projected over a short period of time, usually five years.
What is an annual budget that includes income and expenses for ongoing operations?
The Operating Budget
is the budget that accounts for UCOP’s current and ongoing operations, as well as one-time costs that result from its day-to-day business. The operating budget includes both revenues and expenses for the fiscal year.
Which of the following legal descriptions methods has been used the longest in the US?
Metes (distance) and bounds (direction)
is the oldest method for creating land descriptions. This legal land description is primarily used to describe the location of land in states on the east coast of the US.
What does a management agreement create?
The agreement is intended
to govern the relationship between the landlord and property management company
, outlining obligations, fees, and other important terms to make sure the relationship is a success.
Which of these items would be considered a variable expense?
Variable costs are those that respond directly and proportionately to changes in activity level or volume, such as
raw materials
, hourly production wages, sales commissions, inventory, packaging supplies, and shipping costs.
What do you record on an income and expense statement?
Also known as the profit and loss statement or the statement of revenue and expense, the income statement primarily focuses on
the company’s revenues and expenses
during a particular period.
Who can qualify for an FHA loan quizlet?
An
applicant with a credit score of at least 580
can qualify for the maximum FHA financing – that being a cash investment of 3.5%. An applicant with a credit score between 500 and 579 can qualify for a cash investment of 10%. A person with a score below 500 is not eligible for an FHA-insured loan.
What is a cooperative quizlet?
cooperative.
a business organization owned and operated by a group of individuals for their shared benefit
.
What does condo management do?
A condo’s management company is
responsible for maintaining the property and ensuring that it is up to environmental standards
, communicating with homeowners about CC&R violations, managing the condos’ finances, handling questions and concerns from homeowners, obtaining and managing the condo’s insurance policy and …
What are the three most common types of listings?
What are three most common types of listing?
Open listing, exclusive right to sell listing, and exclusive agency listing thing
.
What type of budget is used to forecast income and expense over some period of years?
What type of budget is used to forecast income and expense over some period of years?
A stabilized budget
is a forecast of income and expenses that can be projected over a set period of time, usually five years.
What does a metes and bounds legal description mean?
Metes and bounds are
the boundaries of a parcel of real estate that identified by its natural landmarks
. Metes and Bounds landmarks are often used in a “legal description” of a land. … In legal descriptions, metes and bounds are considered as the most accurate description of a piece of land in some jurisdictions.
What are the different types of legal descriptions?
There are five types of legal descriptions that have been developed to achieve greater accuracy and precision in identifying land and land rights: 1) the United States Public Land Survey System (USPLSS), sometimes referred to as the “rectangular” or “
quadrangular” survey system
; 2) descriptions referring to recorded …
What was the metes and bounds system used to describe?
Metes and bounds is a system or
method of describing land, real property
(in contrast to personal property) or real estate. … Typically the system uses physical features of the local geography, along with directions and distances, to define and describe the boundaries of a parcel of land.
What are three things a management agreement should contain?
The agreement should list
the owner’s responsibilities for management expenses
, such as payroll, advertising, insurance, and management fees.
What are 5 examples of variable expenses?
- Direct materials. The most purely variable cost of all, these are the raw materials that go into a product.
- Piece rate labor. …
- Production supplies. …
- Billable staff wages. …
- Commissions. …
- Credit card fees. …
- Freight out.
What is the difference between a lease and a management agreement?
While Management Agreements are generally drafted to provide wide rights allowing the Manager to let the property, leases often
contain restrictive clauses in relation to underletting
.
What is an example of an illegal purpose that makes a contract unenforceable?
The subject matter of the contract itself must be legal. For example,
if it involves illegal gambling
, then the contract will be deemed illegal and unenforceable. Another example would be if one party asks another party to engage in fraudulent or some other wrongful activity.
What is a valid method to forecast future variable expenses?
In order to make business decisions, managers can utilize past cost data to predict future costs employing three methods:
scatter graphs
, the high-low method, and least-squares regression analysis.
How do I find variable expenses?
To calculate variable costs, multiply what it costs to make one unit of your product by the total number of products you’ve created. This formula looks like this:
Total Variable Costs = Cost Per Unit x Total Number of Units.
How do you make a projected income statement?
To create a projected income statement, it’s important to take into account revenues, cost of goods sold, gross profit, and operating expenses. Using the equation
gross profit – operating expenses = net income
, you can estimate your projected income.
How do you record income and expenses in Excel?
Click the cell that you want to use to calculate your total in the income column, select the list arrow, and then choose the Sum calculation. There are now totals for the income and the expenses. When you have a new income or expense to add, click and drag the blue resize handle in the bottom-right corner of the table.
What is the maximum amount the FHA will loan to a qualified buyer?
The FHA “ceiling” is
$822,375 for single-family homes in
2021, an increase of $56,775 over the 2020 high-cost limit of $765,600. The FHA “floor” is set at 65% of the national conforming loan limit of $548,250 in most of the country in 2021.
What is the minimum down payment for an FHA insured loan quizlet?
Terms in this set (29) to ensure that low-income families, first-time buyers, and other borrowers who could not qualify for conventional loans could obtain a mortgage. –below 580 credit score must make a down payment of
at least 10%
. –less than 500 are not eligible for FHA loans.
What are the three types of cooperatives quizlet?
Identify the different types of cooperative organizations.
Consumer Cooperatives
– Sell merchandise to their members at reduced prices. Service Cooperatives – Provide a service. Producer Cooperatives – Agricultural marketing cooperatives that help members sell their products.
What is the basic purpose of most cooperatives?
The purpose of a cooperative is
to realize the economic, cultural and social needs of the organization’s members and its surrounding community
. Cooperatives often have a strong commitment to their community and a focus on strengthening the community they exist in or serve.
What are the 3 types of budgets?
Depending on these estimates, budgets are classified into three categories-
balanced budget, surplus budget and deficit budget
.
What is FHA quizlet?
Federal Housing Administration has been around since 1934. It was
formed to improve home ownership by insuring loans
so lenders can offer lower down payments, lower closing costs, and make credit qualifying easier. … retrieves borrower data (like credit history) and then uses a custom algorithm to make loan decision.
What are the two types of cooperatives?
- Consumer Cooperatives. …
- Worker Cooperatives. …
- Producer Cooperatives. …
- Purchasing or Shared Services Cooperatives. …
- Multi-stakeholder Cooperatives.
Is budget a forecast?
Key Differences
A budget is an outline of the direction management wants to take the company. A financial forecast
is a report illustrating whether the company is reaching its budget goals and where the company is heading
in the future.
What is a rolling budget?
A rolling budget is continually updated to add a new budget period as the most recent budget period is completed. Thus, the rolling budget involves
the incremental extension of the existing budget model
. By doing so, a business always has a budget that extends one year into the future.
What does a property manager in a condo do?
A condo property manager’s job description can include many duties, such as
operations and real estate property management, association administration
, financial management, organizing resources for general maintenance, community conflict resolution, customer service, marketing, and communication.
Who runs a condo?
With regular condominiums,
the unit owner usually owns
the internal unit space and a share of the corporation; the corporation owns the exterior of the building land and common area; in the case of a freehold condominium the owner owns the land and building and the corporation owns common shared roadways and amenities.
What does a carryover clause do?
What does a carryover clause do?
Allows the broker to collect a commission for some period of time after the listing expires
. … The broker may claim a commission if the owner sells to a person the broker introduced to the property within a certain time after the listing expired.
What is a carryover clause in a listing agreement?
A carry over or protection clause in a listing contract that says
the listing broker is entitled to comission for a time period after expeiration of the listing ter if the property is transferred to a prospect that the broker introduced to the property during the lisitng term
; override clasue.
What does listing a property mean?
An agreement that represents the right of a real estate agent or Broker to handle the sale of real property and to receive a fee or commission for services
. Through an exclusive authorization to sell listing, one agency is given the sole authority to sell the property during a certain time period. …
What is an example of metes and bounds?
Metes and bounds are the limits or boundaries of a piece of property as identified by its natural landmarks. Examples of metes and bounds landmarks include
rivers, roads, stakes, or other such natural or manmade markers
.
What is the difference between metes and bounds?
Metes are
distances between two points measured with straight lines
, regardless of what is in between them. Bounds are less specific. They may appear in a description as a building, rock, or other nonpermanent marker.
