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Re: Small Timer post# 50488

Monday, 09/10/2012 1:41:52 PM

Monday, September 10, 2012 1:41:52 PM

Post# of 52575
would it not make more sense to clarify the source of revenue? SP stated that there are more than a half dozen different ways that the Tivus model generates revenue, and the revenues that you posted while I admit they are there, don't give any insight as to the source. In my opinion, it would be kind of hard to balance my checkbook this way. In the accounting class I took in college, I venture to say that I would have gotten an "F" if I had accounted for revenue this way. Admittedly these financials are not anywhere close to a financial accounting for TiVUS. They appear to be an obscure snap shot at a general level. Is this normal? for clarification, what I am saying. I don't necessarily need to see that they spent $28.63 on paper towels, 15.92 on toilet bowl cleaners, and 7.95 on sponges, but I would expect to see $52.50 listed in financials listed as cleaning supply expenses. If I reported "RENT REVENUES" this way to the IRS, you can bet i would be explaining in detail to an auditor. THE IRS requires that I show expenses and revenue for each property separately. but I guess I am just an idiot.
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