| 4.3 The Role of Financial Statements in Program
Planning and Management
Statement of Activities
 The statement of activities (also
known as a revenue and expense report, an income statement, or a profit
and loss statement) reports the total revenue and expenses and the difference
(profit or loss) for a specific period of time (e.g., year, year to
date, month, quarter).A goal of a financially sustainable operation
is a statement of activities that shows revenue running near or ahead
of expenses. Predicted revenue and expenses should be compared to actual
revenue and expenses at least quarterly. Major differences should be
reviewed and, if necessary, plans should be changed to correct the situation.
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