Coming to closer of Having at Least a Profit and Loss (Income Statement) RGP

We discussed this morning at the AM talk

1. That our higher purpose is to be of service to our fellow men.  Baptism the Holy Eucharist comes to us when we ask for forgiveness for our sins and we are in the service of others

2.  We pledged tithing ie 10% of our net income as assistance to our advocacies:   70% for assisting school building,10% for feeding program, 10% donation for home for the aged, 10% for orphanages

3. To do this we must have our financial statements in order:

     a.  Income Statement

     b.  Cash flow

     c.  Statement of condition

IT IS A MUST THAT ALL SBUS HAVE SFCs

All SFCs must be trained with the correct accounting procedures and making FS.

4.  We hired an expensive Chief Accountant.  10 months into the year, we do not have a single complete FS, with the same abruptly resigning. The chart of accounts was not recognized, especially the CGS

5.  We have a chart of accounts published at the blog. they seem not be read and followed.

6.  Basic FS equation:

      Sales -  Cost = GP

7.  Our cost of goods sold

    To arrive at this:

    We divide the unexpended  development cost/ saleable area (65% to 70%)

    Our cost of goods sold now is P3,500.00 /sm for current inventories;

     That is P1,500 of gross for bangin expansion, and  P1,250. for Malasiqui for gross area.

     Summary     

         All old inventories :      P3,500.00/sm

         Thus           x area of various products

          Lawn      x   2.5         =   P3,750

         SSN        x   10.5       =   36,750

          GE         x   30          =  105,000

     New inventories:

        Calamba   bangin    =    2,307

        Lawn    x  2.5       =   5,767

        SSN    x  10.5      =  24,223.50

         GE     x   30       =   69,210

      Malasiqui              =   1,923

        Lawn   x  2.5    =      4,807.50

        SSN   x  10.5   =     20,191.50

        GE     x  30     =      57,690.00

Application:    Example

The ICR assistant must add additional column in his/her excel file to recognize the RGP 

     Thus:

      Income Statement

      Total Sales

         Cash Sales

         Installment sales

        Less:    CGS

        Gross Profit

     For installment sales:

    a.   Say P36,000.00 plot

     x  48.2% net sales

    17,352    -  Amount for sharing

     x say our share:  say 50%

         Our sharing                   8,676   -  

         Less CGS                     8,750

               RGP                        (74)/60

               RGP/Loss per MA      (!.23)

   b.   48,000  x   48.2%

        Net Lot Price   23, 136   x  50%   =  11,568

                                                              8,750

                                                RGP       2,818/60

                                                /MA            46,96

    

--

PAGSASANAY SA TAGUMPAY (Training for Success)

SETTING THE STANDARDS IN INTERMENT SERVICE

Innovation creates more wealth and more customers

  Jorge U. Saguinsin

  Be a BIDDA now

  RRURAC   (Read, Reflect, Understand, Realize Act, Check)

   Please visit the following sites:

   Holy Gardens Rewards

   Patsikot/SUV Promo

   Bonus pa more sa pagtulong sa bentang todo2

Notice:   This email address is a private property of Holy Gardens Group and its contents are private and confidential.    Its contents and attachment  may not be copied nor forwarded to parties other than the ones intended to,  nor can the contents be used other than the original intent  You are advised to delete the message you received if in case it may have been wrongly sent to your good office