Accounting Services

The Accounting Department at Hughes Development Co., Inc. and Universal Management, Inc. (HDCO-UMI) functions as a professional accounting firm.

Accounting Functions:
One of the major objectives of HDCO-UMI is to provide the affiliated properties with reliable and timely accounting services, which include the following:

  • Accounts Payable
  • Accounts Receivable
  • Payroll
  • Mortgage
  • Bank Reconciliation
  • Journal Entries and General Ledger Reconciliation
  • Balance Sheets
  • Income Statements
  • Analysis of Financial Statements
  • Budget Preparation and Variance Analysis
  • Internal Control Evaluation

Reporting:
In addition to the accounting services, we also prepare and submit the following regulatory reports to different government agencies, owners, mortgages, banks and other entities:

  • HUD ABC Monthly Report
  • Occupancy Report
  • Financial Report
  • Audited Financial Statement
  • Payroll Report

System Support:
System support is provided to all our affiliates as follows:

  • Implement, modify, and monitor accounting and other software packages installed in all our affiliated properties
  • Provided training to the department personnel to ensure appropriate usage of computer facilities available at HDCO-UMI and affiliated properties
  • Develop system manuals for easy and quick reference
  • Interact with the software vendors to correct problem situations that may arise from time to time

Management Information System:
We provide various types of financial, non-financial and analytical information to the management, and help in the correct decision making process. We interact with management on a daily basis and share major responsibilities in the decision making process.

MEETING AMERICA’S REAL ESTATE NEEDS