Scrabble – Putting Financial Reports into Words People Understand

By CAI staff writer

In 2006, two Masschusetts men set three records for sanctioned Scrabble playing in North America: the most points in a game by one player (830), the most total points in a game (1,320), and the most points on a single turn (365). The word that was played to attain the record-breaking score of 365 in a single turn was “Quixotry.” Who were these two men playing who set such lofty records? Were they college professors? Dictionary authors or editors? MENSA geniuses with IQs of over 190? No. They were a carpenter (Michael Cresta) and a supermarket deli counter employee (Wayne Yorra); two men with extensive vocabularies and a love for playing “Scrabble.”

The point is that even “ORDINARY” people can sometimes achieve great things if they have the right tools and set their mind to it. Even something as daunting as understanding an association’s financial statements can be less mystifying if you understand a few basics of financial reporting. If you understand what the reports are telling you, then you’ll know how to use them to find answers to your financial questions. This in turn will lead to more informed decision-making processes, and should hopefully result in a more financially balanced association for you and your neighbors.

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