Why does the Operating Statement include the principle portion of loan payments and the purchase price of assets? Those arent really expenses, are they?
q020.style.display = ‘none’; No, thats why we call them payments rather than expenses. Businesses pay income tax on profit (income minus expenses), so they need an Operating Statement that only includes expenses. Our Operating Statement is geared to church members who want to see where the money came from and where it went. Those who are interested in the church’s net worth can see it on the Balance Sheet.
