Income Statement
Funds received?
Revenue
What you own that has value
Assets
This statement tells what is going in and what is coming out of the program
Cash Flow Statement
Name three standard financial reports
Income Statement, Balance Sheet, and Cash Flow Statement
Funds spent?
Expenses
What you owe
Liabilities
Cash received minus cash paid out equals
Net change in cash
The Income Statement, Balance Sheet, and Cash Flow Statement tells a story in the form of what?
Dollars
Revenue minus expenses and taxes
Net Income
The value of your program
Net worth or Equity
A business must have cash in order to pay
Expenses
The three core financial statements are used to manage what?
Business
Income statement shows your...
Bottom line/profit-loss
Tells the story of what your program owns and owes at a particular moment in time
Balance Sheet
What does the cash flow statement include
Cash in, cash out, cash remaining
Rather than using words, the core financial statements use...
Numbers
What does the Income Statement say?
How much money your program earned and spent during a period of time.
Assets minus liabilities equal
Equity
Cash flow statement will help you plan for cash need to pay for...
Future expenses
The core financial statements will help to make what kind of decisions
Informed decisions