The Beatles Unplugged Income Statement & Summary

First and foremost, many thanks from Team Hytone to everyone who came and support our first official charity event, “The Beatles Unplugged”. It was most surprising and delightful to see the amount of people that turned up and stayed for the show. We do hope that everyone enjoyed last night’s event and will support other up-coming events.

Last night’s event was a success, with approximately 390 people attending. With that, Team Hytone managed to raise AUD$ xxxx where all profits will be addressed to World Vision Malaysia. Just this event, that’s almost RM$XXXXX, attached to this, an income statement is produced by Mun Fye Chang and Wei-Xiang Teoh of the Finance Division of Team Hytone. Supporting this document will be the Project F.L.I.P bank account statement which will be published quarterly on http://forloveinpeople.blogspot.com.

The Finance Division is in charge of preparing basic journal entries and also overseeing the financial reporting process to guarantee the full transparency and integrity of these statements. The Finance Division also has rigid systems and protocols in placed to ensure the effectiveness of internal control. For example, cash outflows from Project F.L.I.P. can only be done via cheque or the presence of both Mun Fye Chang and Wei-Xiang Teoh where both of these outflows require both our signatures.

As most of you would know, there is a Project F.L.I.P. group page on Facebook and we would love for everyone to be a part of it. An alternative would be to drop us an email at forloveinpeople@gmail.com. So, do share your ideas, drop us an email, and Team Hytone will try our best to make it happen.

Income Statement

Project F.L.I.P
The Beatles Unplugged
Income Statement for the month ended 30th April 2010
Revenue	$	$
Ticket Sales	3,000.00
Door Sales	1,070.00
Donations	720.00
Less Cost of goods sold
Ticket printing	68.00
Total Revenue		4,722.00
Expenses
Advertising	20.00
Wages - Andrew Shephard	200.00
Tag Printing	10.00
Office Supplies - Stamp, Masking tape, Line-up sheet,etc	65.00
Film Development	45.00
Total Expenses		340.00
Net Income		4,382.00

note *Supporting bank statement will be published in the coming week

prepared by Mun Fye Chang