The three financial statements for a proprietary fund: statement of net position; statement of revenues,expenses,and changes in fund net position; and statement of cash flows.

Question

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These three financial statements are typically used for a proprietary fund, which is a type of accounting entity that is operated like a business and is designed to generate revenue and profit. The statement of net position shows the fund's assets, liabilities, and net position at a given point in time. The statement of revenues, expenses, and changes in fund net position shows the fund's revenues and expenses over a period of time, as well as any changes in net position. The statement of cash flows shows the sources and uses of cash during the period, giving an indication of the fund's liquidity and cash flow position.

The Three Financial Statements for a Proprietary Fund: Statement of Net