Which of the following financial statements are NOT required by not-for-profit organizations for external reporting purposes?

Question

Quizplus · Accepted Answer

Not-for-profit organizations do not have members' equity, so a Statement of Changes in Members' Equity is not applicable. However, they are required to prepare a Statement of Financial Position, a Statement of Cash Flows, and a Statement of Operations.

Which of the Following Financial Statements Are NOT Required by Not-For-Profit