FASB standards require that not-for-profit health care entities prepare a statement of changes in net assets.

Question

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FASB standards do require that not-for-profit health care entities prepare a statement of changes in net assets. This statement shows the changes in the organization's net assets over a specified period of time, such as a fiscal year. It includes information on revenues, expenses, gains, losses, and other transactions that affect the organization's financial position. The purpose of the statement is to provide stakeholders with a clear picture of how the organization's resources are being used and how its financial health is changing over time.

FASB Standards Require That Not-For-Profit Health Care Entities Prepare a Statement