Impact 100 - Finance 101 for Non-Profits Deck - Page 14

Liabilities and Equity

• Liabilities – who and what you owe Accounts payable – money you owe Bank loan or Mortgage payable Payroll tax Payable Sales Tax Payable

• Equity –

Net Revenue – current period earnings or loss Retained Earnings – prior years income or loss

More about a Statement of Financial Position !