Forda Financial Skills for Sustainable Organizations PDF

# SMART MONEY MOVES ## Regita Ahda Santi ### Financial Skills for Suitable Organization ### TRAINING AND UPGRADING “INI LHO ITS! 2025” # 1. BUDGETING BASICS AND BEYOND It acknowledges that the process of budget preparation can be seen as arduous and restrictive, eliciting reluctance from employe...

# SMART MONEY MOVES ## Regita Ahda Santi ### Financial Skills for Suitable Organization ### TRAINING AND UPGRADING “INI LHO ITS! 2025” # 1. BUDGETING BASICS AND BEYOND It acknowledges that the process of budget preparation can be seen as arduous and restrictive, eliciting reluctance from employees ## BUDGET ## DREAD VS DRUDGERY Anggaran sering dikaitkan dengan rasa takut atau kecemasan (dread) serta tugas yang membosankan dan melelahkan (drudgery) | | | | | :---------------------------------------------------- | :----------------------- | :------------------------------------ | | **BUDGETING** | Total Amount | **Management Reserve** | | Detailed financial plan that quantifies future expectations and actions relative to acquiring and using resources | | | | | | **Contingency Reserve** | | | | | | | | **Project Budget** | | | | **Cost Baseline** | | | | **Control Accounts** | | | | **Work Package Cost Estimates** | | | | **Activity Contigency Activity Cost Estimates** | | | | | **Source**: Larry, M. Walter. (2009) **BUDGET DON’T GUARANTEE SUCCESS, BUT THEY CERTAINLY HELP TO AVOID FUTURE** # 1. BUDGETING IN ORGANIZATION When managing an organization, it is certain that financial issues will be encountered | | | | | :----------------------------- | :------------------------------ | :--------------------------------------------------------------------------- | | **Perencanaan Strategi** | **Perencanaan Jangka Panjang** | Sebelum budgeting, ketahui system yang terjadi dan mungkin terjadi di organisasi Kamu! | | (Strategic Planning) | | | | | | **ACRUAL BASIS** | | **Penyusunan Program** | **Perencanaan Jangka Menengah** | | | | | **CASH BASIS** | | | | Lebih menggambarkan kinerja keuangan | | **Penyusunan Anggaran** | **Perencanaan Jangka Pendek** | | | (Budgeting) | | **Revenue ≠ Cash** | | | | 1. Revenue lebih menunjukkan Pertumbuhan | | | | 2. Daya tarik pasar | | | | 3. Keberlanjutan bisnis | **Source**: **DENGAN MENENTUKAN ANGGARAN, SUATU ORGANISASI BISA MELIHAT PROYEKSI KEUANGAN DALAM MASA SATU TAHUN YANG AKAN DATANG** # 1. KNOW THE COST BEHAVIOUR Cost behavior patterns are fundamental in planning, control, and decision-making as they provide insights into how costs react to changes in business activities. ## Contoh penerapan di organisasi 180 Degrees Consulting ITS | | **APA YANG TERJADI?** | | :------------------------------------ | :------------------------------------------------------------------------------------------------------------------------------------ | | **AKTIVITAS YANG MEMPENGARUHI BIAYA** | **And that's what we called as,** **COST BEHAVIOUR** **The ability to predict how costs will respond to changes in activity is critical for decision-making, planning, and control.** | | **Jumlah Proyek konsultasi** | Semakin banyak proyek konsultasi yang ditangani Semakin tinggi biaya operasional, seperti transportasi atau pencetakan laporan | | **Jumlah Sesi Pelatihan** | Semakin banyak sesi pelatihan yang diadakan Semakin murah rata-rata biaya handout pelatihan | | **Jumlah Sesi Presentasi** | Semakin sering presentasi dengan client dijadwalkan Biaya langganan SAS Analytic (Model Prediktif) yang dibayarkan konstan selama langganan tahunan tetap aktif. | **Source**: **SOME COST CHANGES AND OTHERS REMAIN THE SAME** ## FIXED COST ## VARIABLE COST ## MIXED COST # 1. COST CLASSIFICATIONS FOR PREDICTING COST BEHAVIOR It is often necessary to predict how a certain cost will behave in response to a change in activity ## ELEMENTS OF COST BEHAVIOUR ## COST STRUCTURE The foundation of all other cost classifications | | | | | :-------------------------------------------- | :--------------------------------- | :------------------------------------- | | **Fixed cost** | **Variable cost** | **Semi-variable cost** | | Cost | Cost | Cost | | Volume of Output | Volume of Output | Volume of Output | | | | | **Source**: # 1. FIXED COST VS VARIABLE COST ## FIXED COST Items of cost that, in total, do not vary at all with the level of activity (within the relevant range) | **Types of Business** | **Fixed Cost** | | :-------------------- | :----------------------------------------------------------------------------- | | Merchandising | Rent, Insurance, managers' salaries | | Manufacturing | Property Taxes, insurance, equipment leases | | Service | Rent, straight-line depreciation, administrative salaries, and insurance | ## VARIABLE COST items of cost that vary, in total, directly and proportionately with the level of activity (within the relevant range) | **Type of Business** | **Variable Cost** | **Cost Drivers** | | :-------------------- | :-------------------------------------------------------------------------- | :------------------------------------------------------------------------------------- | | Merchandising | Total monthly hourly wages for sales team | Hours business is open during month | | | Direct materials used to produce one special unit of product | Number of units produced | | Manufacturing | | | | Service | The cost of training or workshop facility | Number of attendees/event created | ## SEMI VARIABLE ## MIXED COST Terjadi karena meskipun ada komponen yang tetap (seperti biaya sewa ruangan yang tidak berubah meskipun jumlah peserta berubah), ada juga komponen biaya yang bergantung pada jumlah peserta atau jarak yang ditempuh (seperti biaya variabel untuk layanan tambahan atau transportasi). $Y = $25,000 + $3.00X$ | | | | | :----------------------------------------------- | :--------------------------------- | :----------------------------- | | **Total mixed cost** | **Total fixed cost** | **Variable cost per unit of activity** | | | | | **Source**: # CONCEPTS IN PRACTICE When they classify costs properly, managers can use cost data to make decisions and plan for the future of the business. ## BOEING If you've ever flown on an airplane, there's a good chance you know Boeing. The Boeing Company generates around $90 billion each year from selling thousands of airplanes to commercial and military customers around the world. It employees around 200,000 people, and it's indirectly responsible for more than a million jobs through its suppliers, contractors, regulators, and others. Its main assembly line in Everett, WA, is housed in the largest building in the world, a colossal facility that covers nearly a half-trillion cubic feet. Boeing is, simply put, a massive enterprise. And yet, Boeing's managers know the exact cost of everything the company uses to produce its airplanes: every propeller, flap, seat belt, welder, computer programmer, and so forth. Moreover, they know how those costs would change if they produced more airplanes or fewer. They also know the price at which they sold each plane and the profit the company made on each sale. Boeing's executives expect their managers to know this information, in real time, if the company is to remain profitable. **Source**: # BREAKDOWN THE CASE AND REFLECT ON YOUR ORG ## Decision 1. Discontinouing a product line - If you've ever flown on an airplane, there's a go d $90 billion each year from selling thousands of airplanes to commercial and military customers around the world. It employs around 200,000 people, and it's indirectly responsible for more than a million jobs through its suppliers, contractors, regulators, and others. Its main assembly line in Everett, WA, is housed in the largest building in the world, a colossal facility that covers nearly a half-trillion cubic feet. Boeing is, simply put, a massive enterprise. - And yet, Boeing's managers know the exact cost of everything the company uses to produce its airplanes: every propeller, flap, seat belt, welder, computer programmer, and so forth. Moreover, they know how those costs would change if they produced more airplanes or fewer. They also know the price at which they sold each plane and the profit the company made on each sale. Boeing's executives expect their managers to know this information, in real time, if the company is to remain profitable. **Source**: ## DECISION 1 Variable costs and overhead directly tied to product. When discontinuing a product line, Boeing would analyze which costs (e.g., materials and labor) are directly linked to the airplane models in question. **Jika salah satu acara dibatalkan, organisasi akan mengurangi biaya variabel yang terkait dengan acara tersebut, seperti sewa tempat dan bahan yang sudah disiapkan.** # BREAKDOWN THE CASE AND REFLECT ON YOUR ORG (CON'T) ## Decision 2. Add a second product shift - If you've ever flown on an airplane, there's a good chance you know Boeing. The Boeing Company generates around $90 billion each year from selling thousands of airplanes to commercial and military customers around the world. It employs around 200,000 people, and it's indirectly responsible for more than a million jobs through its suppliers, contractors, regulators, and others. Its main assembly line in Everett, WA, is housed in the largest building in the world, a colossal facility that covers hearly a half-trillion cubic feet. Boeing is, simply put, a massive enterprise. - And yet, Boeing's managers know the exact cost of everything the company uses to produce its airplanes: every propeller, flap, seat belt, welder, computer programmer, and so forth. Moreover, they know how those costs would change if they produced more airplanes or fewer. They also know the price at which they sold each plane and the profit the company made on each sale. Boeing's executives expect their managers to know this information, in real time, if the company is to remain profitable. **Source**: ## DECISION 2 Labor costs, cost of fringe benefits, and potential overhead increases. If Boeing adds a second shift, they know how their labor, utility, and operational costs would scale accordingly. **Jika organisasi menambah sesi acara, mereka harus mempertimbangkan biaya tenaga kerja, seperti honor pembicara, dan biaya fasilitas yang akan meningkat sesuai durasi** # BREAKDOWN THE CASE AND REFLECT ON YOUR ORG (CON'T) ## Decision 3. Open Additional retail outlets - If you've ever flown on an airplane, there's a good chance you know Boeing. The Boeing Company generates around $90 billion each year from selling thousands of airplanes to commercial and military customers around the world. It employs around 200,000 people, and it's indirectly responsible for more than a million jobs through its suppliers, contractors, regulators, and others. Its main assembly line in Everett, WA, is housed in the largest building in the world, a colossal facility that covers nearly a half-trillion cubic feet. Boeing is, simply put, a massive enterprise. - And yet, Boeing's managers know the exact cost of everything the company uses to produce its airplanes: every propeller, flap, seat belt, welder, computer programmer, and so forth. Moreover, they know how those costs would change if they produced more airplanes or fewer. They also know the price at which they sold each plane and the profit the company made on each sale. Boeing's executives expect their managers to know this information, in real time, if the company is to remain profitable. **Source**: ## DECISION 3 Fixed costs (such as rent and salaries), variable operating costs (like sales and service), and potential increases in administrative expenses (due to the need for more management oversight for new outlets). **Jika menambah lokasi acara, biaya tetap (seperti sewa tempat) akan bertambah, dan ada juga kemungkinan kenaikan biaya operasional variabel dan biaya administrasi** # 1. BREAK EVENT POINT The Break-Even Point (BEP) is a critical financial metric that represents the level of sales or production at which a business neither makes a profit nor incurs a loss. **SALES** **UNITS** **BREAK EVEN POINT** **PROFIT** 1. **Break even point dalam unit.** $BEP = \dfrac{FC}{P-VC}$ 2. **Break even point dalam rupiah.** $BEP = \dfrac{FC}{1-\dfrac{VC}{S}}$ **Source**: # 2. CONCEPT OF EVENT PRICING Pricing simply means to determine what a company will receive in exchange for its offerings ## EVENT PRICING Determined by the estimated cost of holding an event and various other factors about which we will learn in this Unit. | **PRICING OBJECTIVES** | **ELEMENTS OF EVENT PRICING** | | :----------------------- | :--------------------------------- | | Survival | 1. Cost of Holding an Event | | Product-Quality-Leadership | | | Pricing Objectives | | | Maximum Current Profits | | | Market Skimming | | | Maximum Market Share | | **Source**: ## 1. Cost of Holding an Event Following are the possible pre-event expenses which the event planners should take into consideration while estimating the cost of an event: Site rental, vendor, supplies, transportation and parking, equipment rental, licenses and permits, service fees, speakers'/performers' fees, etc ## 2. Initial Mark-Up The initial mark-up covers the cost of various items and incidental expenses with the aim of attaining reasonable profit: Initial Mark-up % = \( (Operating Expenses + Price Reductions + Profit) / (Forecasted Net Sales + Price Reductions) \) ## 3. Other Element (Promotion, Competitive Pricing, Retail Strategy) # 2. FACTORS CONTRIBUTING TOWARDS EVENT TICKET PRICING In pricing the event, too high pricing can end up with an empty venue while too low pricing may not even be able to cover costs. | | | | :------------------------------------------------------------- | :------------------------------------------------------------------------ | | **1. DYNAMIC PRICING MODEL** **On-point on downfall price** | **3. SPONSOR-SUPPORTED DISCOUNTS** **A lot of scheme for sponsorship** | | Implement a dynamic pricing system where early bird tickets are offered at lower prices to encourage early registration. As the event date approaches or ticket availability decreases, prices can increase to maximize revenue. This strategy creates urgency while providing flexibility for potential attendees. | Partner with sponsors to provide ticket subsidies, making tickets more affordable for participants. In return, sponsors receive exposure through event branding, such as logos on materials or strategic placement of their name. This approach balances affordability for attendees with sponsor benefits. | | **2. EXCLUSIVE VALUE ADDITIONS** **Rumah makan padang model** | **4. FAMILY OR GROUP PACKAGES** **Benefit from special identity customers** | | Offer tiered ticket options that include special perks, such as meet-and-greet sessions with speakers, VIP seating, or exclusive event merchandise. Attendees can choose tickets that fit their budget while organizers enhance the event's appeal for premium ticket buyers. | Offer special rates for group purchases, such as "Buy 3, Get 1 Free" deals or discounted family tickets. This strategy not only increases attendance but also makes the event more inclusive for various groups and communities. | **Source**: # LITTLE FUN FACT ABOUT PRICE ANCHORING Bisa jadi perusahaan memang sengaja menetapkan harga yang tinggi terlebih dulu seolah sebagai harga sebenarnya, sebelum pada akhirnya memberitahukan harga asli Anchoring Example Which price feels like a better deal? | Price | | | :------------------------ | :-------------------- | | Price A $500 | | | Price B $1,000 $500 | | Price anchoring for events can be implemented by **introducing tiered ticketing, discounting and time sensitive pricing**. In tiered ticketing, the event organizers offer premium tickets besides regular tickets. Such a strategy allows the organizers to sell high priced tickets to those who want them with some additional facilities such as recording the event, access to workshops, included meals and other benefits while still keeping the ticket prices affordable for everyone else. **Various discounts** such as discounts for students, academics, members of the military, and other special groups are effective price anchoring strategies. Many times, a **time sensitive pricing approach** is also used to sell more tickets from the start. **Source**: # 2. PRICING STRATEGIES LEAD TO A BUNCH OF REVENUE Usually the pricing strategy is adopted based on the event company's objectives or the event objectives **Pricing Strategy Matrix** | | | | :-------------------------- | :------------- | | **Low** **Price** **High** | **Low** | | | **Quality** | | | **High** | | **Skimming** | | | **Premium** | | | **Economy** | | | **Penetration** | | According to Jill Moran, event planners in the event industry, mostly use the following ways to price their services: 1. **Pricing by Percentage** 2. **Pricing by Fee for Services** 3. **Pricing by the Hour** 4. **Pricing by Commissionable Rates / Add-ons** **Source**: # 3. WHAT DO YOU WANT TO KNOW ABOUT YOUR BUSINESS? Working with vendors to identify cost-saving opportunities in the supply chain can lead to significant reductions in expenses | | | | :--------------------------------------------------------- | :--------------------------------------------------------------------- | | **How much money am I bringing in?** | **1. Sales or Revenue** | | **How much am I spending?** | **2. Expenses** | | **Is my business making any money?** | **Sales - Expenses** | | **What's the value of what my business owns?** | **3. Assets** | | **How much does my business owe to others?** | **4. Liabilities** | | **What is my business worth?** | **5. Equity** | **Money In** * Sales * Services/Products Out **CUSTOMERS** **YOUR BUSINESS** **VENDORS** **Money Out** * Expenses * Services/Products In **The payment terms for this agreement are as follows: an initial 20% invoice is due before the service begins, as outlined in the MoU. Additionally, the fixed fee must be settled one week before the completion of the services. This structure ensures smooth vendor and debt management, aligning both parties on timely financial commitments while maintaining service quality.** **Source**: # 4. CHART OF ACCOUNTS It is used to organize and categorize financial transactions systematically. The COA typically includes categories such as assets, liabilities, equity, revenues, and expenses. **A Chart of Accounts (COA) is a structured listing of all financial accounts in an organization's general ledger.** ### Balance Sheet Accounts | | | | :-------------------------- | :-------------------------------- | | **1. Assets** | **4. Revenue** | | **11 Cash** | **41 Fees Earned** | | **12 Accounts Receivable** | | | **14 Supplies** | **5. Expenses** | | **15 Prepaid Insurance** | **51 Wages Expense** | | **17 Land** | **52 Supplies Expense** | | **18 Office Equipment** | **53 Rent Expense** | | **2. Liabilities** | **54 Utilities Expense** | | **21 Accounts Payable** | **59 Miscellaneous Expense** | | **23 Unearned Rent** | | | **3. Stockholders' Equity** | | | **31 Common Stock** | | | **32 Retained Earnings** | | | **33 Dividends** | | ### COA WE USED | **Accounts** | **Sub Accounts** | | :---------- | :--------------- | | Assets | Current Assets | | | Fixed Assets | | Liabilities | Current Liabilities | | | Fixed Liabilities | | Equity | Equity | | Expenses | Executive Expenses | | | LnF Expenses | | | Human Capital Expenses | | | Marketing Expenses | | | Strategy and Growth Expenses | | | Client Engagement Expenses | | | Consulting Expenses | | Revenue | Revenue | | Contra Revenue | Contra Revenue | **Source**: # LITTLE FUN FACT ON CHART OF ACCOUNT Did you know that cash is the ultimate current asset because it's the most liquid? **Modal Pembiayaan** | | | | | :------------------------------------ | :-------------------- | :-------------------- | | **AKTIVITAS SEHARI-HARI** | **FIXED ASSETS** | **LONG TERM LIABILITIES** | | | Building | | | | | | | | **CURRENT ASSETS** | **SHORT TERM LIABILITIES** | | | Merch | | | | Cash | | Current liabilities like accounts payable often determine a company's cash flow health. A fun twist? Many companies use "net-30 terms" to delay payments as long as possible, keeping cash in hand for other uses. ## Source: ## 4. FINANCIAL STATEMENTS CONCEPT The income statement illustrates the profitability of a company under accrual accounting rules. | | | | :------------------------------------ | :------------------------- | | **Time** | **Income Statement** | | **Purpose** | **Cash Flow** | | **Measures** | **Balance Sheet** | | **Starting Point** | **Period of time** | | **Ending Point** | **Period of time** | | | **A point in time** | | | **Profitability** | | | **Cash Movements** | | | **Financial position** | | | **Revenue, expenses, profitability** | | | **Increases and decreases in cash** | | | **Assets, liabilities, shareholders' equity** | | | **Revenue** | | | **Net income** | | | **Cash balance** | | | **Net income** | | | **Cash balance** | | | **Retained earnings** | ### Income Statement ### Cash Flow Statement ### Balance Sheet **The income statement was historically called the "profit and loss statement" (P&L)—a much simpler term that directly reflects its purpose!** All figures in USD millions unless stated | | Year 1 | Year 2 | Year 3 | | :----------------------- | :----- | :----- | :----- | | **Revenue** | 98,671 | 104,591 | 110,867 | | **Cost of Goods Sold** | 44,402 | 47,066 | 49,890 | | **Gross Profit** | 54,269 | 57,525 | 60,977 | | **Distribution Expenses** | 7,400 | 7,844 | 8,315 | | **Marketing and Administration** | 2,269 | 2,406 | 2,550 | | **Research and Development** | 3,157 | 3,347 | 3,548 | | **Depreciation** | 3,157 | 3,347 | 3,548 | | **EBIT (Operating Profit)** | 9,379 | 10,583 | 11,884 | | **Interest** | 1,178 | 1,054 | 930 | | **Income Before Taxes** | 8,201 | 9,529 | 10,954 | | **Total Taxes** | 2,460 | 2,859 | 3,286 | | **Net Income** | 5,740 | 6,670 | 7,668 | **Source**: All figures in USD millions unless stated | | Year 1 | Year 2 | Year 3 | | :----------------------------- | :----- | :----- | :----- | | **CASH FROM OPERATING** | | | | | **Net Income** | 5,740 | 6,670 | 7,668 | | **Deferred Taxes** | 329 | 147 | 158 | | **Depreciation** | 3,157 | 3,347 | 3,548 | | **Subtotal** | 7,729 | 9,374 | 10,536 | | **Cash From Working Capital Items** | (1,498) | (791) | (838) | | **Subtotal** | 6,231 | 8,583 | 9,698 | | **CASH FROM INVESTING** | | | | | **Capital Expenditure** | (5,199) | (4,740) | (5,024) | | **Subtotal** | (5,199) | (4,740) | (5,024) | | **CASH FROM FINANCING** | | | | | **Change in Long-Term Debt** | (2,000) | | (2,000) | | **Change in Common Equity** | 500 | 500 | | | **Subtotal** | (1,500) | 500 | (2,000) | | **CASH BALANCE** | | | | | **Beginning of the Year** | 10,159 | 7,170 | 5,635 | | **Increase/ (Decrease)** | (2,989) | (1,535) | (1,356) | | **End of the Year** | 7,170 | 5,635 | 4,279 | All figures in USD millions unless stated | | Year 1 | Year 2 | Year 3 | | :----------------------------- | :----- | :----- | :----- | | **Accounts Receivable** | 16,220 | 17,193 | 18,225 | | **Inventories** | 9,124 | 9,671 | 10,251 | | **Total Current Assets** | 32,514 | 32,499 | 32,755 | | **Property Plant & Equipment** | 23,217 | 24,610 | 26,086 | | **TOTAL ASSETS** | 55,731 | 57,109 | 58,841 | | **Accounts Payable** | 12,165 | 12,895 | 13,669 | | **Deferred Taxes** | 910 | 1,058 | 1,216 | | **Total Current Liabilities:** | 13,075 | 13,952 | 14,884 | | **Long-Term Debt** | 18,000 | 16,000 | 14,000 | | **Common Equity** | 8,127 | 8,627 | 9,127 | | **Retained Earnings** | 16,528 | 18,529 | 20,830 | | **Total Shareholders' Equity** | 24,655 | 27,156 | 29,957 | | **LIABILITIES & EQUITY** | 55,731 | 57,109 | 58,841 | **Source**: # 4. OUR FINANCIAL STATEMENTS ## Expense collected as well as income every month for the basis 2 financial statements ## Expenses | Date | Amount | Description | Account | Division | Receipt Link | | :-------- | :------- | :----------- | :-------- | :-------------------- | :---------- | | | RpO | | | | | | Total | RpO | | | | | | | RpO | | | | | | Total | RpO | | | | | | | RpO | | | | | | Total | RpO | | | | | | 7/16/2024 | Rp32,000 | | Expenses | Legal and Finance | | | Total | Rp32,000 | | | | | | 8/28/2024 | Rp52,000 | | Expenses | Consulting | | | Total | Rp52,000 | | | | | | 9/8/2024 | Rp10,000 | | Expenses | Consulting | | | 9/8/2024 | Rp1,265,000 | | Expenses | Legal and Finance | | | 9/27/2024 | Rp129,351 | | Expenses | Consulting | | | Total | Rp1,304,351 | | | | | **Source**: # 4. OUR FINANCIAL STATEMENTS (CON'T) ## Balance Sheet ## 180 Degrees Consulting Institut Teknologi Sepuluh Nopember ## Balance Sheet | | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | | :-------------------------- | :---- | :---- | :---- | :---- | :---- | :---- | :---- | :---- | | ## Assets | ## | ## | ## | ## | ## | ## | ## | ## | | **Current Assets** | | | | | | | | | | Cash | | | | | | | | | | ## Account receivable | ## | ## | ## | ## | ## | ## | ## | ## | | Prepaid Expenses | | | | | | | | | | Total Current Assets | | | | | | | | | | **Fixed Assets** | | | | | | | | | | Property, plant, and equipment | | | | | | | | | | Total Fixed Assets | | | | | | | | | | **Total Assets** | RpO | RpO | RpO | RpO | RpO | RpO | RpO | RpO | | ## ## Liabilities and Owner's Equity | ## | ## | ## | ## | ## | ## | ## | ## | | **Current Liabilities** | | | | | | | | | | Income taxes payable | | | | | | | | | | Unearned Revenue | | | | | | | | | | Total Current Liabilities | | | | | | | | | | **Longterm Liabilities** | | | | | | | | | | Deferred Income tax | | | | | | | | | | Total Longterm liabilities | | | | | | | | | | **Owner's equity** | | | | | | | | | | Owner's investment | | | | | | | | | | Retained earnings | | | | | | | | | | **Other** | | | | | | | | | | Total Owner's Equity | RpO | RpO | RpO | RpO | RpO | RpO | RpO | RpO | | **Total Liabilities and Owner's Equity** | RpO | RpO | RpO | RpO | RpO | RpO | RpO | RpO | **Source**: # 4. OUR FINANCIAL STATEMENTS (CON'T) ## Income Statement ## 180 Degrees Consulting Institut Teknologi Sepuluh Nopember ## Income Statement | | Apr | May | Jun | Jul | Aug | Sep | Oct | | :---------------------------------- | :---- | :---- | :---- | :---- | :---- | :---- | :---- | | **Revenue** | ## | ## | ## | ## | ## | ## | ## | | Service | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | Sales Returns | | | | | | | | | Sales Discounts | | | | | | | | | NetSales | | | | | | | | | Cost of Good Sold | | | | | | | | | Gross Profit | | | | | | | | | **Operating Expenses** | ## | ## | ## | ## | ## | ## | ## | | Executive Expenses | | | | | | | | | LnF Expenses | | | | | | | | | Human Capital Expenses |