On the statement of changes in net position, custodial funds need to display on separate lines each type of addition made to the fund.

Question

Quizplus · Accepted Answer

Custodial funds are not displayed on the Statement of Changes in Net Position. This statement reflects the entity's overall financial performance, and custodial funds are reported separately in the financial statements, typically in the notes or as a separate statement.

On the Statement of Changes in Net Position, Custodial Funds