A statement of changes in net assets in the financial statements of a not-for-profit organization corresponds most closely to which of the following in the financial statements of a profit-oriented business which reports under IFRS?

Question

Quizplus · Accepted Answer

The statement of changes in net assets for a not-for-profit organization is similar to the statement of changes in shareholders' equity for a profit-oriented business. Both statements provide details on how the equity (or net assets) of the organization has changed over a period due to various activities and transactions.

A Statement of Changes in Net Assets in the Financial