HSM 260 week 1 DQ1 and DQ2

# HSM 260 week 1 DQ1 and DQ2

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Week 1- DQ 1: Due Day 2

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...

HSM 260
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Excerpt from file: Week1DQ1:DueDay2 Postyourresponsetothefollowing: Howdoesthestatementoffunctionalexpensesdifferfromthestatementof activities?Whatisthedifferencebetweenarevenuecenterandanexpense centerasitrelatestoahumanserviceorganization?Whydoyouneedto knowthisinformationasanemployeeinahumanserviceorganization?...

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