Income Statement and Balance Sheet

     Preparing an Income Statement and a Balance Sheet are the first steps we need in order to create a budget.  The Income Statement covers over a period of time (i.e., covers a period of one month, one quarter, one year, etc.) while the Balance Sheet tells you the financial health of you or your business at a particular date. 
     Go to the Related Documents on the right-hand side of this blogspot and click the
Income Statement and Balance Sheet to give you an idea of how business (and individuals) have a better picture of the company's financial position or the financial health.
     You may also create another column called Pro-Forma to compare and contrast the
increase and decrease of, for example, the same month, one-year ago,etc.  If you would like to measure it in percentages of increase (+) or decrease (-), then create a final column to the far right and calculate the percent of increase or decrease from a year ago - same month.
See: Balance Sheet - https://docs.google.com/a/kalakauamiddle.org/file/d/0BxviQzebUymia3VLTlZJTEw2UG8/edit?usp=sharing 

See:  Income Statement - https://docs.google.com/a/kalakauamiddle.org/file/d/0BxviQzebUymiWkw2UG54LWdVRmM/edit?usp=sharing