Week 1- DQ 1: Due Day 2
Postyour response to the following:
How does the statement of functional expenses differ from the statement of activities? What is the difference between a revenue center and an expense center as it relates to a human service organization? Why do you need to know this information as an employee in a human service organization?
The statement of activities is basically an accounting of all agency revenues and expensesfor the fiscal year. In standard business (and in some sense, to non-profit agencies as well), this statement is called a profit and loss statement. It shows how much profit is left over after all expenses have been taken out. While non-profitsdo not make a profit in the traditional sense, they can takea portion of revenues and expand the...
Excerpt from file: Week1DQ1:DueDay2 Postyourresponsetothefollowing: Howdoesthestatementoffunctionalexpensesdifferfromthestatementof activities?Whatisthedifferencebetweenarevenuecenterandanexpense centerasitrelatestoahumanserviceorganization?Whydoyouneedto knowthisinformationasanemployeeinahumanserviceorganization?...
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