1. Income statement

2. • Financial performance is assessed by giving a
summary of how the business incurs its revenues
and expenses through both operating and non-
operating activities.
• It also shows the net profit or loss incurred over
a specific accounting period, typically over a fiscal
quarter or year.

3. Revenues
• The amount of money that a company actually
receives during a specific period, including
discounts and deductions for returned
merchandise.
• It is the "top line" or "gross income" figure from
which costs are subtracted to determine net
income.

4. Expenses
• The economic costs that a business incurs
through its operations to earn revenue.
• In order to maximize profits, businesses must
attempt to reduce expenses without also
cutting into revenues.

5. • STATEMENT OF FINANCIAL OPERATION
• For the period ended June 30, 2011
• Revenues
• Catering, Lodging and accommodations 1, 882, 838
• Kitchen/Cafeteria facilities 15, 806. 25
• Entrance Fee 157, 050. 00
• Other income/services 12, 910.00
• _________________________
• Total Revenue 2, 068, 604. 25
• Less : Operating Expenses
• Catering expenses 949, 958. 76
• Dormitory expenses 91, 523.00
• Salaries/Wages 60, 487.50
• Labor-maintenance 68 ,029.00
• SSS/PHIC expense 1,800.00
• Honorarium 40 ,850.00
• Professional fee 17, 000.00
• Transportation expenses 3, 577.00
• Gasoline and oil 6, 999.33
• Representation 9, 540.00
• Communication 7, 324.00
• Repair/Maintenance 17, 011.25
• Supplies-Office 6, 392.00
• -Housekeeping 4, 121.86
• - Beach 487.00
• - Kitchen 3, 403.67
• Photocopy/Printing 263.75
• Taxes/Licenses 57, 720.40
• Light/Water 52, 412.16
• Depreciation expense 164, 126.16
• Insurance expense 5, 309.14
• Membership dues 210.00
• Total expenses 1,568,545.98
• ____________________________
• Net Surplus 500,058.27