The difference between the financial statements of private not-for-profit hospitals and private not-for-profit voluntary health and welfare organizations is:

Question

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The required statements for private not-for-profit organizations are the Statement of Financial Position, Statement of Activities and Statement of Cash Flows. In addition, voluntary health and welfare organizations are required to report a Statement of Functional Expenses that shows expenses by both function and natural classification.

The Difference Between the Financial Statements of Private Not-For-Profit Hospitals