Perspective and Issues

Concepts, Rules, and Examples

Elements of the Change in Net Assets

Classification of Revenues, Expenses, Gains and Losses, and Reclassifications

Information about Gross Amounts of Revenues and Expenses

Information about an Organization's Operations

Information about an Organization's Service Efforts

Financial Statement Presentation

Disclosure Requirements


“Statement of Activities” is the name given to a statement that reflects all of the organization's financial transactions and calculations from the beginning to the end of the fiscal year which result in increases and decreases in an organization's net assets. It is a not-for-profit organization's operating statement. The title of the statement could be any one of a number of different names, including “Statement of Revenue, Expenses, and Changes in Net Assets,” “Capital Additions and Changes in Net Assets,” or “Statement of Income and Expenses.” The title is not particularly important so long as the statement shows all relevant activity.

The statement of activities could be broken into two sections, and each treated as a separate statement; that is, a section showing revenue, expenses, and nonexpendable additions, and a section showing changes in net assets. However, there seems little purpose in creating a separate statement of changes in net assets since the only types of transactions normally shown in the “changes in net assets” section of the statement ...

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